Privacy Policy

Privacy Policy Statement ("Privacy Policy") sets out the commitment by YATU (the "Company" or "we" or "us" or "YATU") in protecting the privacy of individuals who provide data about themselves to us. YATU is a brand owned and operated by the Company.

The Services are not intended for minors below 18 and we do not knowingly collect data relating to minors for any purpose.

Please read this Privacy Policy carefully, it is very important for you to understand how we collect and use your data, and how you can manage it. If you do not agree to the processing of your personal data in the way describes or any other part in this Privacy Policy, please do not provide your data when requested and stop browsing or using the Website and any of its web pages or mobile applications. Your continued browse of use of the the Website and any of its web pages or mobile applications or Services we provided constitutes your acknowledgement and acceptance of our rules regarding your personal data as described in this Privacy Policy.

This Privacy Policy shall apply to all data subjects and, if you are our customer or an applicant for loan facilities or other services, form part of the terms and conditions of the loan agreement and such other agreement that YATU may specify from time to time. In the event of any inconsistency or discrepancy between this Privacy Policy and the relevant agreement, this Privacy Policy shall prevail insofar as it relates to the protection of the data subject's personal data.

Our Privacy Policy may be revised from time to time without any prior consent. You may refer to the "Last Updated Date" at the top of this Privacy Policy to determine when this Privacy Policy was last revised. You agree to review YATU's website periodically, and by continuing to access or use such websites, YATU products and services, you consent to any such changes.

Financial Product Information Disclosure

Loan Amount: ZMW 200 - ZMW 5000

Loan Term: 91-180 days

Annual Interest Rate: 18% ~ 36%

Service Fee Rate: Personalized AI service fee

Example Calculation:

Assume you successfully apply for a loan of ZMW 1000, choose a repayment period of 90 days, with an annual interest rate of 21% and a service fee rate of 1.5%.

Detailed Calculation:

1. Daily Interest Rate:

The annual interest rate is 21%, so the daily interest rate is:

text{Daily Interest Rate} = frac{21%}{365} = frac{0.21}{365} approx 0.0005753 , text{(or 0.05753%)}

2. 90-Day Interest:

For a loan amount of ZMW 1000, the interest for 90 days is:

90-Day Interest=1000*0.0005753*90=51.78ZMW

3. Service Charge:

For a loan amount of ZMW 1000, with a service fee rate of 1.5%, the service charge is:

Service Charge=1000*0.015=15ZMW

4. Total Repayment:

The total repayment amount includes the principal, interest, and service charge:

Total Repayment=1000+51.78+15=1066.78ZMW

Permissions that we request from you.

1. Coarse Location

When applying for a loan product, some products may require access to your approximate location to determine eligibility. The lender uses this information to assess whether to provide loan services based on your general location. Not providing this permission could impact the service experience for these loan products. We collect approximate location data from your device and transmit it securely to https://app.yatu.info to enhance security measures related to your account. Please note, our services are available exclusively within Zambia.

2. SMS

YATU utilizes SMS data from your mobile device for risk management and anti-fraud measures. This includes capturing information like the counterparty name/phone number and message content. This enables us to read the OTP (One-Time Password) sent to your phone, facilitating automatic login to the app.

Please note that data collection occurs with your explicit consent and is transmitted securely over HTTPS. YATU maintains strict confidentiality and will not share your data with third parties without your permission. Any data sharing will be conducted in accordance with your authorized preferences.

3. Device Data

Upon your authorization, YATU will collect device information such as your mobile phone model, unique device code, UUID, and language preferences used on your device. This information is transmitted to https://app.yatu.info. We use some of this data to uniquely identify devices and prevent fraud, while also enhancing your credit profile to offer you the best loan options based on your profile. Data collection occurs only with your explicit consent and is transmitted securely over HTTPS. YATU will not share your data with third parties without your permission, and any data sharing will be done in accordance with your authorized preferences.

4. Photos/Media/Files

We may request access to your device’s photos, media, and files. This information is collected solely to provide and improve our services.You can choose not to grant certain permissions at any time. If you deny access to photos, media, and files, some features may not function correctly, but you can still use other parts of the app.

5. Storage

In order to facilitate seamless usage of the application, YATU requires storage permissions to securely download and store your KYC (Know Your Customer) and other related documents on your phone. This enables you to easily upload the required KYC documents, expediting the loan application process and payment details submission.

6. Camera

YATU may request permission to access your camera to capture your facial image. We will seek your consent for this camera permission, allowing you to either take new pictures or provide existing personal pictures. This is done to verify your identity and to prevent unauthorized use of your personal information for loan fraud purposes.

7. Microphone

We may request access to your device’s microphone. This information is collected solely to provide and improve our services.You can choose not to grant certain permissions at any time. If you deny access to the microphone, some features may not function correctly, but you can still use other parts of the app.

8. Wi-Fi connection information

We may collect information about your device's network connections, including whether you are connected to a Wi-Fi network, the network's name (SSID), signal strength, and IP address.

9. Installed Apps Data

YATU uploads the list of installed apps on your device to https://app.yatu.info. This includes information about each installed application such as the application name, package name, installation and update timestamps, as well as the version name of each application. The data is transmitted and uploaded securely through an HTTPS connection, and all data information is encrypted throughout the process. We use this data to evaluate your creditworthiness and prevent loan fraud. YATU will not share this data with third parties without your permission. Data sharing will only occur in accordance with your authorization.

Personal data collected to analysis

1. Loan Amount and Disbursement:

- Our Loan amounts ranges from K200 to K8,000.

- Approved loan amounts will be disbursed directly to the client's mobile money account.

2. Application and Approval Process:

- Applicants must fill in all required information on our app.

- The technical team will review the submitted information and conduct necessary background checks.

- Approval of the loan and provided information is subject to verification.

-Verification and Approval of the loan amount will be done within 8 hours after submitting the information.

-The Applicant will receive the loan amount an hour after approval.

3. Repayment Terms:

- All loan repayments will be made via mobile money.

- The repayment schedule, including due dates and instalment amounts, will be provided to the client upon approval of the loan amount.

- Early repayments are allowed and encouraged.

4. Interest Rates and Fees:

- The applicable interest rate is at 10% as stated in the loan agreement.

- Any additional fees, including late payment fees, will be detailed in the agreement.

5. Late Payments:

- Interest will be added to the borrowed amount [specified amount or percentage] will be charged if payments are not made by the due date.

- Continuous late payments may affect future loan eligibility.

6. Use of Loan:

- The loan should be used for the purposes stated in the loan application.

- Misuse of the funds may result in immediate repayment of the borrowed amount plus interest and/or legal action may be taken.

7. Data Collection and Usage:

- By applying for a loan, clients consent to the collection and use of their personal data, including but not limited to their National Registration Card (NRC) number, phone numbers, and location data, for verification and loan management purposes.

8. Confidentiality and Privacy:

- All personal information collected will be kept confidential and used solely for the purpose of loan processing and management.

- We will not share personal data with third parties without the client’s explicit consent, except as required by law.

9. Default and Legal Action:

- In the event of a default, the client agrees to allow us to take all necessary actions to recover the loan amount, including but not limited to legal proceedings.

- The client will be responsible for all costs incurred by the lender associated with recovering the loan amount, including legal fees.

10. Changes to Terms and Conditions:

- We reserve the rights to change these terms and conditions at any time.

-Clients will be notified of any changes in advance.

- Continued use of our services following any changes indicates acceptance of the new terms and conditions.

11. Governing Law:

- These terms and conditions shall be governed by and construed in accordance with the laws of Zambia.

12. Acceptance of Terms:

- By signing this agreement or electronically accepting these terms on our app, the client agrees to abide by all the terms and conditions outlined above.

Contact Us

If you have any inquiries, feedback, recommendations, or concerns regarding this Privacy Policy or your personal data, please reach out to us using the contact information provided below.

YATU

Consumer Email: business@yatu.com

Official Website: http://www.yatu.info

Business Hours: Monday through Saturday 8:30 am to 5:30 pm