Beware of Fraud Loan Apps in India

India's Top Fraud Loan Apps You Should Avoid – Protect Yourself Today

“Know About India’s Biggest Fraud Loan Apps”

There are several loan applications in India that are unsafe and risky to use. Here is a list of some major fraud loan apps:

1. mPokket 

2. Slice Loan App 

3. Loanbaba 

4. MyMoneyMantra 

5. Marvel Loan App 

6. Badabro 

7. RapidRupee 

8. LoanTap 

9. Cholamandalam 

10. VivaMoney 

11. Privo 

12. MoneyView 

13. RapidRupee 

14. FatakPay 

15. WishFin 

16. Rupee112 

17. Tala 

18. Cashe 

19. StashFin 

20. KreditBee 

21. RapidPaisa  

22. BuddyLoan 

23. MyMoneyMantra 

Why Is It Risky to Take Loans from These Apps?

The above-listed apps are not recognized by the Reserve Bank of India (RBI), making them unsafe for borrowing. If you take a loan from any of these apps, they may access your phone's contacts and photos. Later, they can misuse this information, sending threats or calling your friends and relatives to demand money or OTPs, leading to fraud.

How to Report Loan Apps Fraud Calls?

If you receive repeated calls from any of these fraud loan apps, the Indian government has launched a portal called “Chakshu - Report Suspected Fraud Communication”. You can file a complaint against such numbers on this portal and take the necessary action.

Image: sancharsaathi.gov.in

It's crucial to avoid fraud loan apps. Always choose options that are RBI-approved and safe. If you receive unsolicited calls from suspicious apps, make sure to file a complaint on the Chakshu portal.