You need โน5,000 urgently, and an app promises it in ten minutes.
No paperwork, no questions.
It just needs permission to read your contacts and photos.
A week later, your relatives start getting messages about you.
How do these fake loan apps work?
They give a small loan quickly.
Then the amount you owe grows with hidden charges.
If you are late, or even if you are not, they turn to harassment.
They message your contacts, threaten you, and sometimes send edited photos.
The access you gave during sign-up is what makes this possible.
How do I check whether a lending app is genuine?
Every real lending app is linked to a bank or an RBI-regulated company.
The app should name that lending partner clearly.
The RBI has a directory of digital lending apps on its website.
Search the app's name there and check that the lender it lists matches.
You can also check the lender on the RBI's Sachet portal, sachet.rbi.org.in.
What are the warning signs?
The app insists on access to your contacts, photos or gallery.
It does not clearly name a bank or registered lender.
The interest, fees and repayment date are vague or hidden.
It is only available through a link, not the Play Store.
What if one is already harassing me?
Do not pay more money to make the threats stop.
Take screenshots of every message and call.
Report it at cybercrime.gov.in or call 1930.
You can also file a complaint about the app on Sachet.
Tell close family what is happening, before the app does.
Then remove the app's permissions, uninstall it, and change your passwords.
What about genuine urgent loans?
Your own bank's app often offers small pre-approved loans.
A gold loan or a loan against a fixed deposit can also be quick.
They come with clear terms and no threats.
Things to Remember
- Never give a loan app access to your contacts or photos.
- Check the app in the RBI's digital lending apps directory.
- Real apps clearly name a bank or registered lender.
- Being harassed? Screenshot everything and report on 1930.
- Tell your family yourself, before the app reaches them.