Fake Loan App: In the digital age, most of the things related to our life are reaching us through mobile apps. Even if it is only banking service. There are many fintech companies, banks and NBFCs that provide instant loans through mobile apps. Taking advantage of this, some fake loan apps have once again become active on the Google Play Store. If you are also looking for loan then do not fall in the trap of such app. Let us tell you some such tips by which you can stay safe.
How do you get caught in the trap?
Such apps offer you a loan on the basis of only Aadhar card and PAN card in 5 to 7 minutes without any paperwork. They also bluff of giving Insta loans to those with a bad CIBIL score. Once you upload your documents on their app, they offer you a loan of Rs 3000 to 5000 for 7 days. As soon as you progress, they deduct around Rs 500 to 600 in the name of processing fee and other charges. After 7 days you have to pay the full amount. It has also been seen that errors occur during payment on such apps. Money is deducted from your account, but payment due on the app shows because they are run illegally. Therefore, they do not have any customer care number and even if you want, you are not able to register your complaint anywhere. On the other hand, these apps impose a penalty of Rs 100 to 150 on you daily. The series of torture does not stop here. For recovery, these people also harass your relatives and friends by calling them. They tell you fraud by sending your photo. Most people pay to avoid the hassle.
This way all your data goes to them
Actually, when you install such apps, they ask you for access to contacts, media storage, messages and location. Once you allow all these things on your behalf, all your data goes to them. These people use the same data for recovery.
Fraud also has chances
Such apps also misuse your documents. Many such cases have come to the fore, in which a loan was taken in another name by editing the PAN card of the users. In such a situation it is better to stay away from this type of app.
This type of app was exposed last year
Keep these things in mind
- Try that you do not need to take loan from the app because most of the app recovery process is bad. These people harass your contact.
- If it is necessary to take a loan, then check with that app whether that company is valid for financial transactions from RBI or not. Do not take loan from unrecognized company at any cost.
- Some apps give loan by tying up with NBFC. If you are taking loan from this type of app also, then collect all the information of that company.
- While downloading the app from Google Play Store, definitely its review. You can stay safe by ing the reviews of other stranded users.
- Do not give any app access to your message scene, contact access and media.
- Only with Aadhaar and PAN card Never take a loan from an app that processes files on base.