Fraud happening through fake loan apps
Like other problems, financial problems also do not come with any warning. Money can be needed at any time. If you do not have money and neither do you have any security to pledge, then the option of personal loan remains with you. Contacting banks for personal loan is a very good option. But if for some reason the bank rejects your personal loan application, then you have many other options.
NBFC i.e. Non Banking Financial Companies and Fintech companies provide personal loans to needy people. But if you are planning to take a personal loan from the mobile app of a Fintech company, then you have to be very careful here. It is usually seen that people who get trapped in the fraudulent trap laid by the Fintech platform make 3 mistakes. Here we will know what are those 3 mistakes, which are very important to avoid.
Registered with RBI
Whatever fintech company you are going to take a personal loan from, find out thoroughly whether it is registered with the Reserve Bank of India or not. Stay away from any fintech company that is not registered with RBI and do not take any kind of loan.
Don’t get caught up in the number of downloads
It is often seen that when a person downloads a mobile app from Google Play Store or iOS, he looks at the number of downloads of that app to find out its reliability. Usually, people blindly trust the app which has been downloaded the most. But you should not do this. Whether the app has been downloaded 1 lakh times or 10 lakh times, if it is not registered and is not authorized to give loans, then do not download such an app and do not take a loan.
Customer Service
If you are going to take a loan from any company’s app, then before that know about its customer service. Many times people have to face many problems after taking a loan. In such a situation, if that company does not have a customer care service, then it is almost impossible to solve your problems.
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