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Effective as of October 30, 2010
Your Privacy Is Important To Us
We recognize your right to privacy at State Bank of India (California). We also recognize you have the right to expect your personal financial information to remain private and secure. Therefore, we have established a comprehensive policy of protecting confidential information regarding your consumer account and transactions.
This disclosure, with exception of sole proprietors, does not apply to business accounts.
In this Privacy Policy disclosure and statement, the terms we, our and us, refer to our affiliates. The terms you, or your, refer to you, our customer. The phrase non-public personal information means personal information about you which is not available to the general public such as your driver's license number, social security number, income, age, marital status, assets and debts, in some cases your address and telephone number, e-mail address, internet service provider, or web browser.
Children’s Online Privacy Protection Act
Our website is not directed to children under the age of 13. We do not knowingly solicit data from persons under the age of 13 and we do not knowingly market to persons under the age of 13.
What kind of Information do we collect?
The type of information we collect depends upon your financial needs and the products and services you request. For example, when you apply for a loan with us, we need information about your financial status, your place of employment income, monthly expenses and personal assets and debts, in order to process your request.
Why is this information needed?
One of the many reasons we retain information about you is to maintain the security of your accounts, and to protect you and our institution against fraud. Clear and accurate information is needed to enable us to positively identify you and validate your transactions to prevent unauthorized access to your accounts.
We retain information we obtain from you in communications (such as letters or e-mails) in order to respond to your questions and to keep records of your requests and concerns. We also use customer information to develop new products and services and to inform you about financial services that may interest you.
We are also required by laws and regulations to gather certain information, such as tax identification numbers (such as social security number) for many accounts, including savings, interest checking, and investment accounts.
Categories of Information We Collect About You and When We Collect It
We collect information about you to identify and communicate with you, to provide you with products and services you have requested, to help us respond to your questions, and to inform you about other financial services that may be of interest to you.
We collect the following types of information about you from the following sources:
- Information from you on your application or other forms, such as information regarding income and assets;
- Information about your transactions with us, our affiliates, or others, such as account balance, loan payment history or ATM, debit or credit card usage;
- Information we receive from consumer reporting agencies, such as credit history and credit worthiness;
- Information we receive from marketing analysis companies for marketing purposes, such as economic and demographic data.
Categories of Information We Disclose
We do not disclose or share information about you or our former customers with nonaffiliated third parties. We may disclose information described above as permitted or required by law. We will not share your account numbers or access codes with third party businesses for the purpose of marketing their products or services to you.
We may disclose all the information indicated above to companies that perform marketing services on our behalf or to other financial institutions with whom we have joint marketing agreements to offer financial products and services to you.
Categories of Nonaffiliated Third Parties To Whom We Disclose Information
We may also disclose information about you when it is necessary to administer, or enforce transactions that you have requested or authorized, when servicing or processing a financial product, or to maintain or service your accounts with us, or otherwise described below:
- To financial service providers;
- To data service providers;
- To comply with a regulatory government agency, court order, law or regulation under which the information is requested;
- To an account verification service.
As stated previously, from time to time, we contract with outside vendors and other business providers to perform specific services for, or provide specific services to us. When it is necessary to provide confidential personal information of our customers to these vendors or providers, we expect that these businesses will honor and safeguard any information regarding our customers. We try to select vendors or providers that will adhere to the same standards and procedures as we do. We will not share customer information with anyone who does not agree to keep your information confidential.
Closed Accounts and Former Customers
If you decide to close your account(s) or become an inactive customer, we will continue to adhere to the privacy policies and practices described in this online privacy notice.
Confidentiality and Security of Customer Information
We restrict access to nonpublic personal information about you to those employees who need to know that information to provide products and services. We maintain physical, electronic, and procedural safeguards that comply with federal standards to guard your nonpublic personal information.
Accuracy of Information
We also ask you to closely review your account and loan statements for accuracy. Contact us immediately if you have any reason to believe that your personal information is incorrect. Please write to us at:
State Bank of India (California)
attn: Privacy Officer
523 W 6th Street, R-501
Los Angeles, CA 90014
We will investigate the problem and, if appropriate, update your records.
Availability and Changes To Our Privacy Policy
Our Privacy Policy is available upon request at any of our Banking offices. In addition, you will receive a copy of our Privacy Policy whenever you open a deposit or loan account with us or obtain a banking service as a customer. You will also receive a copy of our Privacy Policy at least annually if you have any open accounts with us.
From time to time we may make changes to this policy. Please ask one of our customer service representatives if you wish to verify that you have obtained the most current edition of our Privacy Policy.
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