These Fake Loan Apps are pushing you into debt

4 Min Read

Today I will tell you that there are many loan apps available on the Google Play store. We will discover how these apps work. If they are genuine? Do they really provide loans or not? Many of them are Fake Loan Apps. Our government has banned many Chinese companies in the past few days. At the same time, 100 fake loan applications were made illegal by the government. Even after this, there are still many fake loan apps on the Play Store.

The technical dost job is to get the information for you. So that you don’t end up making choices that aren’t good for you. Many applications are available on the play store claiming they deal in loans. If they really provide loans, how to identify if they are fake or real? Technical Dost can promise you that this information will be helpful to you.


How to Examine These Fake Loan Apps?

In need of a loan, people choose apps for loans instead of banks. Here we will discuss six points. These points can easily tell you if they are real or fake. 


1) Loan without a bank statement

Any application that does not request your bank account information or your credit score or report, is invalid. ready to provide a loan. Then you knock on the wrong door. Any loan cannot proceed without bank details. Bank details give customer authentication too. Your transaction details, verified mobile number, address, Adhar number, Pan card number, etc. Why, without taking any details, how they can claim to give a loan?


2) Deadline

If any application insists on you filling up the details instantly, You were not given time to rethink your decision. Then it means they are looking for your details. So be careful. 


3) Requesting Money

Any application that asks for money is given any excuse like they will generate your credit score, or collect your required details. This means they are in the full mood to trap you. 


4) Inspect the padlock.

If the loan-providing application has a website, do visit it. Now the question is, what is a padlock? 

Whenever you visit any website, in the address bar you will see the sign of a lock before https:// as shown in the video. This lock means this application is going to use your information. This website will share details with someone else. You must check the padlock before sharing your details. 


5) Physical Location

Anyone who is legitimate and dealing in loans will undoubtedly have their own physical offices. So cross-verify loan providers’ physical offices. In the absence of physical offices, it clearly shows they are fake. They designed them to commit fraud. 


6) Certificate from the RBI

Only genuine loan providers use RBI and NFC certificates. Any loan application or website dealing in loans must have this certificate. Don’t take a loan from them in the absence of a certificate. 

Don’t fall for these Fake Loan Apps

Be smart while taking a loan from any application or website. must check the discussed points. Rather than filling out a loan application, go to a bank.

These fake loan provider applications are interested in collecting our details. They sell our details to someone else for a good amount. So be very careful.

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Read Next: Don’t buy a smartphone EMI

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