The terms of this service are a legally binding document that allows our company to receive and store your specific information and process it to grant the right to borrow. Therefore, it is recommended that you familiarize yourself with the terms of service and decide whether to accept it. By checking the terms of service box below and entering the verification code provided by our organization to your phone number under the specified procedure you are deemed to agree to the following terms of service.

1.By agreeing to the terms of this service, the customer agrees to the following terms.

1.1. Enter your personal information accurately.

1.2. Yol receives and stores personal information entered by customers.

1.3. Three random photos will be taken during the test, and these photos will only be used to confirm that the test taker is the customer in question.

1.4. The client participates in a psychological test. Psychological tests can only be answered by yourself without the help of others. If the test is completed with the help of others there will be no contractual agreement.

1.5. The loan amount and terms will be determined by the customer’s information.

1.6. If you are eligible for a loan, we will draft a loan contract for you using the information you provided.

1.7. If you deliberately provide false information, our company will refuse to grant you a loan and the loan contract will be deemed void. In addition, you, the customer, will be legally responsible for any consequences or damages caused by the false information.

1.8. To ensure the security of your information and to prevent unauthorized use of the Yol app, our company will have access to your app activity and store it as a history log, and use it within the relevant law.

2. Only after signing a contract, you will become a customer of our services.

3. The terms of service are governed by the loan contract.

4. The Yol app reserves the right to change its terms of service and will notify you of such changes through its website, the app's introductory section, and the customer's mobile phone.

5. If a decision is made not to grant a loan, you can contact our company again after a certain period and answer the questionnaire again.

6. Customers are required to repay their loan amount with 5% Monthly Interest Rate under 60 days.

ACCEPTING THE TERMS OF SERVICE AND USING OUR APPLICATION, DOES NOT MAKE OUR COMPANY LIABLE TO PROVIDE ANY LOANS. FURTHERMORE, YOU ARE NOT ALLOWED TO MAKE ANY CLAIM AGAINST OUR COMPANY ON ANY OTHER ISSUE UNLESS SPECIFICALLY STATED IN THE TERMS OF SERVICE.

1. Rationale and purpose of collecting customer information

1.1 Yol recognizes the customer and confirms and provides online loan services at your request based on personal information registered on the Yol.mn e-loan service website and Yol mobile application (hereinafter referred to as Yol).

1.2 A Customer is a Mongolian citizen who has reached the age of 18 and is applying for a consumer loan by logging in to Yol and creating an account.

1.3 The Data Holder collects and processes personal information based on the customer's electronic consent to recognize the customer and approve the online loan application.

1.4 The Customer is fully aware of the Terms of Service and the Privacy Policy before registering with Yol, and by “checking the box” of the contract, he/she is fully agreeing to the collection and processing of information by the Data Holder.

1.5 The Customer is obliged to provide accurate information to Yol, and the Customer shall be fully responsible for the risk of not being able to access the loan service due to entering false information and will be responsible for any damages that occurred to the Data Holder.

1.6 The respondent collects and processes the following information to recognize the customer and approve the loan application. These include:

1.6.1 The customer's mobile phone number and registration number used to register with Yol.

1.6.2 To verify the customer, a password will be sent to the registered mobile phone number and the registration will be created by entering the password into Yol. The encrypted password is created by the customer in Yol.

1.6.3 The customer's last name, first name, registration number, telephone number, home address, employment information, and financial information provided by the customer to Yol to access the online loan service.

1.6.4 Customer's online loan obtained through Yol and its repayment information.

1.6.5 When using Yol, Yol will ask for permission to access the customer's mobile camera. Three (3) photos will be taken to confirm that the customer is the one answering the credit scoring questions based on the psychological test.

1.7 The Data Holder is prohibited from collecting, processing, or storing personal information of customers other than those specified in 1.6 of this policy.

2. . Processing and using customer information

2.1 The Data Holder shall process and use customer information only in the context of providing online credit services as follows. These include:

2.1.1 The Yol password is known only to the customer, and the password entered by the customer is encrypted and stored.

2.1.2 The photos taken during the credit scoring psychological test, will only be used to verify the identity of the customer.

2.1.3 Customer information will be used to provide online credit services to the customer.

2.1.4 The information will be used internally to improve the quality and availability of online loan services and to develop new products and modules.

2.1.5 The information will be used for the development of Yol's software, for which purpose information, information is transferred and used by the developer.

2.1.6 The information will be used for analysis, verification, and determining financial capability with the use of information technology, artificial intelligence, and tests.

2.1.7 The information will be used to provide customers with information on new products, promotions, loan disbursements, and loan repayments.

2.2 The Data Holder shall not disclose the customer's personal information to government organizations and third parties, except as provided in Article 12.3 of the Law on Non-Bank Financial Activities and Article 7.2 of the Banking Law of Mongolia, and shall keep the customer's information confidential.

2.3 The Data Holder is prohibited from selling, transferring, or sharing customer information to third parties for profit.

3. Storing customer information

3.1 The Data Holder stores the information entered by the customer in Yol on its server. The customer is obliged not to disclose the customer's username and password to others.

3.2 The Data Holder shall not be liable for any damages caused to customers as a result of the loss of their login information. The Data Holder warns that access to the customer's access information will not be possible.

4. Managing and deleting customer information

4.1 The customer himself/herself will not be able to change personal information such as phone number, name, and registration number after signing the contract. If the customer’s phone number is changed, he/she can request to change the phone number through Yol and the customer's request will be resolved within three (3) working days.

4.2 If a customer has an online credit history, their information will not be deleted.

4.3 If the customer does not sign a loan contract within 2 months of registering with Yol, the customer's information will be retained for the period specified in the Law on Archives and Record-Keeping.

4.4 If the customer requests to cancel his/her registration, he/she will not be able to register at Yol again. All information will be deleted except for the customer’s phone number and registration number.

5. Privacy Policy Reform

5.1 The Data Holder reserves the right to make changes and amendments to the Privacy Policy and in case of any amendments to the Privacy Policy, it will be published openly on the platform http://www.Yol.mn/ and the Customer will be obliged to read it.

5.2 In the event of an amendment to the Privacy Policy that was in effect at the time of customer registration or contracting, the amended Privacy Policy shall be considered valid.