Fake Loan App list: How to Protect Yourself from Scammers

Fake Loan app list: Do you need an urgent loan? In today’s fast-paced world, financial emergencies can leave you insecure and desperate at any time. While RBI-approved legitimate lending platforms can provide the financial assistance you need, the rise of fake loan apps has become a serious concern.

Scammers people are exploiting people’s desperation, luring them into bogus schemes that can lead to devastating financial losses.

Fake loan apps have infiltrated the market, preying on those desperately seeking financial assistance. These malicious apps not only lead to monetary losses but can also cause emotional distress and a sense of betrayal. In this article, we’ll guide you through the world of Fake loan app lists, helping you spot and avoid them to keep your hard-earned money safe.

What are fake loan apps?

What are fake loan apps

Have you ever stumbled upon an app promising quick loans with minimal documentation? Fake loan apps are malicious applications designed to defraud unsuspecting individuals. They prey on urgent financial needs, exploiting vulnerabilities to steal personal data and hard-earned money.

These apps lure users with easy eligibility criteria and no credit check. Once you provide your details and pay the fee, the apps start demanding more money or running away.

Fake Loan App List in India 2023

Not only are financial needs growing in the digital lending space, but so is the confusing world of RBI-banned Fake Loan apps. After downloading fraudulent apps, users often share their personal and financial details, such as banking and KYC information, on these platforms. As a result, money is automatically withdrawn from their accounts, or the customer is put under psychological pressure through extortion.

The allure of quick money can be tempting, but caution and skepticism must prevail. By staying informed, you have a better chance of protecting yourself from the clutches of these crafty entities.

Here, we are providing you with a Fake loan app list banned by RBI so that you can avoid the clutches of these apps.

Sr. No.Fake Loan App ListSr. No.Fake Loan App List
 1Angel Loan 102Fri loan
 2Apple Cash103Cashcom
 3Asan Loan 104Handey loan
 4Easy Credit 105Get cash
 5Easy RP 106Income value
 6Elephant Cash 107Cash advance 1
 7Es Loan 108Quick loan app
 8Balance lone 109Holiday Mobile Loan
 9Best Paisa 110Plump Wallet
 10Bellono Loan 111Sky loan
 11Basket Loan 112Gold cash
 12Bharat Cash 113Easy borrow cash loan
 13Bus rupee 114Loan Resource
 14Clear Loan 115Coco loan
 15Cash Advance 116Cash machine
 16Cash Cola 117Cash bowl
 17Cash Colla 118ATD Loan
 18Cash cow app 119Loanzone
 19Cash Cow 120Pocket Bank
 20Cash Credit 121Cashpal
 21Cash Fish 122RupeePlus
 22Cash go 123Kwality Cash
 23Cash Guru App 124Smart Coien
 24Cash magic 125Silver Pocket
 25Cash Manager 126Samay Rupee
 26Crazy Cash 127Wayne Credit
 27Credit buzz 128Eye Credit
 28Credit Pearl 129Loan Cube
 29Credit wallet 130Coin Rupee
 30Crystal Loan 131Apna Paisa
 31Dhan Pal 132Live Cash
 32Dream Loan 133Get rich
 33E Paisa 134Express Loan
 34Eagle Cash loan app 135RupeeKing
 35Lucky Loan app 136Goldman Payback
 36Magic Money 137UPA Loan
 37May loan 138Alp cash
 38Mi Rupe 139Rupees plus
 39Minute Cash 140Cashon
 40Money Box 141Eulavt Loan App
 41Money Tree 142Panda Rupees
 42Orange Loan 143Snapit loan
 43Phone Pay 144Smile Loan
 44Plump Wallet 145Credit finch
 45Fast Coin 146Yes Rupee
 46Fast Paisa 147Infinity
 47Fast Rupee 148Rupee King
 48India AI Credit Cash Loan 149Go Go Loan
 49Flash rupee 150Koko loan
 50Fri Loan 151My Cash loan
 51Get Cash 152Bharat cash
 52Gold Cash 153Hi cash
 53Goldman Payback 154Cash Park loan
 54Guru Loan App 155Jasmine loan app
 55Hoo Cash 156Manta cash
 56I Credit 157Rainbow loan
 57I Kraza 158Pillai loan
 58Income Loan 159Magic loan
 59IND Loan 160Gold sea
 60Money lender 161Hi credit app
 61Jo Cash 162Link money
 62Small Cash Loan App 163Infinity cash
 63Star Loan 164my credit
 64Money Pocket 165Top cash
 65Time Loan 166Flash loan app
 66Pub Cash 167Pradhanmantriyojna loan
 67Money lander 168Handey loan
 68Guru loan app 169Just money
 69Money standup 170Flip cash
 70Cash go 171Small loan app
 71Rupiya company 172Rupiya company
 72Just money 173Cash go
 73Ob cash loan 174Easy brave
 74Royal able rupee cash 175Paisawala
 75Money box 176Bright money
 76Goldman payback 177Lend mall
 77Wow rupee 178Live cash loan app
 78First Cash 179Live cash
 79Clear loan 180Loan dream app
 80Asan loan 181Loan fortune
 81Loan fortune 182Rupee loan app
 82Cash papa 183Rupiya bus
 83Loan home small 184Rupiya company
 84Warn rupee 185Rush loan
 85Bud loan 186Shuttle loan
 86Cash mine 187Slice pay
 87For pay 188Sun cash
 88Loan cube 189Time loan
 89Fortune now 190Unit cash
 90Ok rupee loan app 191UPO Loancom
 91Loan loji 192Walaby app
 92Cash carry app 193Wen Credit
 93Rupee mall 194Alp Cash
 94O cash 195Cash Era
 95Honey loanin 196CashCarry Loan app
 96Mama loan 197Chhota loan
 97Shuttle Loan 198Joe cash
 98Wallaby app 199Easycredit tree
 99Pillai loan 200Rupeesmart
 100More loan 201Cashmagic
 101Cash station 202Voice Loan

How can I identify a fake loan app?

How can I identify a fake loan app

Here are some tips to help you spot fake loan apps:

Check if the lender is authorized by RBI: The Reserve Bank of India (RBI) empowers legitimate lenders and ensures that they comply with the lending policies. If a loan app is not approved by RBI, it could be a fake app.

Avoid apps that ask for upfront payment: Legitimate lenders will not ask for upfront fees or costs for processing your loan application. If a loan app asks for an upfront payment, it may be a scam.

Check whether the app has a website or registered address: Legitimate lenders will have a website and a registered address. If a loan app does not have these details, it could be a fake loan app.

Check Reviews and Ratings: Before downloading a loan app, check its reviews and ratings. If there are many negative reviews or ratings, it may be a fake app.

Avoid lending apps without proper documents: Legitimate lenders will ask for documents like KYC, income proof, bank details, PAN details, etc. Assess the creditworthiness of the borrower as per RBI policies. If a loan app offers a loan without proper documentation, it might be a fake app.

Beware of apps using high-pressure tactics: Fake loan apps may use high-pressure tactics to collect loan payments and harass borrowers. Legitimate lenders would not use such tactics.

Avoid apps that charge high processing fees and interest rates: Legitimate lenders will charge reasonable processing fees and interest rates. If a loan app charges exorbitant fees and interest rates, it could be a fake loan app.

Common Tactics Used by Scammers to Deceive Borrowers

Impersonating legitimate loan companies or government agencies: Scammers may pose as legitimate loan companies or government agencies to trick borrowers into sharing their personal information. They may use official-looking logos and websites to make their scams appear more convincing.

Using high-pressure tactics to convince borrowers to act quickly: Scammers may use high-pressure tactics, such as threatening legal action or arrest, to persuade borrowers to act quickly and provide their personal information or make a payment.

Making unsolicited offers of loan forgiveness or lower interest rates: Scammers may offer unsolicited loan forgiveness or lower interest rates to borrowers in exchange for an upfront fee or personal information. These offers are often too good to be accurate and are designed to trick borrowers into sharing their details.

Charging upfront fees for loan services: Legitimate lenders will not ask for an upfront payment to process your loan application. If a loan app asks for an advance payment, it could be a scam.

Creating illusions of product scarcity: Scammers may create illusions of product scarcity to motivate consumers to act quickly and not rely on their better judgment. This might be advertising something as a one-time offer, a product with a limited-edition price or availability, or rushing us into buying something that ‘has’ to be accepted now – even if we’ve never seen the product in real life.

Pretending to be an authority: Scammers may pretend to be an authority figure, such as a bank representative, police officer, or government official, to gain the trust of their victims and convince them to share their personal information.

Exploiting people’s biases and personality traits: Scammers may prey on people’s preferences and personality traits, such as trustworthiness and impulsiveness, to trick them into sharing their personal information or making a payment.

How to Protect Yourself from Scammers

How to Protect Yourself from Scammers

Be wary of unsolicited phone calls: Scammers can use phone calls, voice messages, and other means to trick you into giving them your personal information. If you receive an unsolicited call, be cautious and do not share any sensitive information.

Avoid downloading fraudulent apps: Scammers can create fake apps that look like popular apps to trick you into downloading them on your phone or laptop. Be sure to download apps only from trusted sources.

Be cautious of phishing scams: Phishing scams are attempts by scammers to trick you into giving them your personal information, such as passwords or credit card numbers, by pretending to be a trustworthy source. Be wary of emails or messages that ask for your personal information. Always verify the source before sharing any sensitive data.

Keep your information secure: Always keep your personal information safe and avoid sharing it with anyone unless necessary.

Block spam callers: You can block spam callers on your phone to avoid receiving unwanted calls from scammers.

Stay away from suspicious emails, texts, and links: Be cautious of emails, texts, and links that seem suspicious or are from unknown sources. Do not click links or download attachments until you are sure they are safe.

FAQ Related to Fake Loan Apps:

What are fake loan apps?

Fake loan apps are mobile applications that claim to offer loans to users but are designed to defraud people. These apps often charge high-interest rates and processing fees and use aggressive tactics to collect loan payments.

How do fake loan apps work?

Fake loan apps tempt users to download them on their phones or laptops. Once the Fake Loan app is downloaded, it asks for personal information such as bank account details, PAN card number, and Aadhaar card number. The app then charges high processing fees and interest rates and uses aggressive tactics to collect loan payments.

How can I spot a fake loan app?

You can identify fake loan apps by checking whether the lender is authorized by the Reserve Bank of India (RBI) Avoid apps that ask for advance payment, check if the app has a website or registered address, read reviews and check the ratings, and avoid apps that provide loans without proper documentation, be wary of apps that use high-pressure tactics, and avoid apps that charge high processing fees and interest rates.

What should I do if I have been cheated by a fake loan app?

If you have been cheated by a fake loan app, you should immediately report the incident to your bank and the police. You should also change the passwords and PINs of all your financial accounts and monitor your bank statements for unauthorized transactions.

How can I protect myself from fake loan apps?

You can keep your personal information safe by being cautious when downloading any financial app, doing your research before sharing any sensitive information, and blocking spam callers, suspicious emails, texts, and links. You can avoid it, and you can protect yourself from fake loan apps by being careful with unsolicited phone calls.

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