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Spotting a loan app scam (India)

Check the lender before you install anything, and what to do if an app is already harassing you.

25 items · 5 sections · money, fraud, security

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Get help now (5)

  • Being threatened? Report it on 1930 or cybercrime.gov.inOpen
  • If this feels too heavy, talk to Tele-MANAS: 14416 or 1-800-891-4416Free, any time. You are not to blame for being targeted.
  • Do not pay more just to stop the threatsScam apps often keep asking for more.
  • Save screenshots of messages, call logs, the app name and payment details
  • Tell one person you trust and warn close contactsIf morphed photos or messages go round, your contacts will know they are fake.

Before you install (4)

  • Check the app in RBI's Digital Lending Apps directoryIt lists apps used by RBI-regulated banks and NBFCs.
  • Find the bank or NBFC behind the appA real app names it. Look it up on the RBI website.
  • Install only from the official app store, never a link in a message
  • Search the app name with fraud or complaint

Warning signs (7)

  • Instant loan with no real checks
  • A processing fee asked before the money arrivesDo not pay it.
  • Asks for access to contacts, photos or filesRegulated digital lenders should not need these to lend to you.
  • No clear APR or total repayment figure
  • Money landing from a personal account or UPI ID, or repayment asked to one
  • Pressure to decide in minutes
  • Far less money arrives than you agreed to borrow

A real lender gives you (4)

  • A key fact statement with the APR before you sign
  • A sanction letter in the regulated lender's name
  • Money paid directly into your own bank account
  • A grievance officer's contact, and access to the RBI Ombudsman

If you already shared data (5)

  • Remove the app's permissions, then uninstall it
  • Change your UPI PIN and bank passwords
  • Tell your bank at once if money or a mandate is involved
  • Complain on RBI's Sachet portal if a lender is taking money illegallyOpen
  • Check your credit report for loans you did not take

Written from sachet.rbi.org.in

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