Discover the complete list of 180+ fake loan apps in India for 2024. Learn how to identify and avoid financial scams. Stay safe with our comprehensive guide on legitimate loan apps.
180+ Fake Loan Apps in India 2024: Protect Yourself from Scams
Introduction
When you urgently need money, personal loans can be a lifesaver. However, in 2024, the rise of fake loan apps has become a concerning issue. These apps appear genuine but are designed to deceive, promising quick cash and easy approvals to exploit unsuspecting users.
These deceptive apps not only steal personal information but also overcharge and harass users for repayment. It’s crucial to verify the authenticity of any loan app before sharing sensitive details or applying for a loan.
What Are Fake Loan Apps?
Fake loan apps mimic legitimate lenders but aim to defraud users. They attract people in need with attractive offers but ultimately misuse personal data and money.
Once installed, these apps might:
- Charge hidden fees
- Misuse your personal information
- Use aggressive tactics for debt collection
- Disappear after acquiring your details
These scams lead to financial loss, privacy violations, and harassment. Protect yourself by scrutinizing app credibility, reading terms carefully, and reporting suspicious apps promptly.
Fake Loan Apps in India
Many fake loan apps deceive users by appearing on popular app stores like Google and Apple. Users unknowingly share their bank and KYC details, resulting in unauthorized deductions and harassment. Below is a list of some fake apps to avoid:
Fake Loan Apps List
| New S.No | Fake Loan App | New S.No | Fake Loan App | New S.No | Fake Loan App | New S.No | Fake Loan App |
|---|---|---|---|---|---|---|---|
| 1 | 66 Cash | 47 | Cash Star Miniso Rupee | 93 | IncomeLoan | 139 | Rapid Paisa |
| 2 | Agile Loan App | 48 | Cash Station | 94 | Ind Loan | 140 | Reliable Rupee Cash |
| 3 | Aladdin Lamp | 49 | Cashcarry Loan App | 95 | Insta Loan | 141 | Rich Cash |
| 4 | Alp Cash | 50 | Cashhost | 96 | Jo Cash | 142 | Rich Loan Go |
| 5 | Angel Loan | 51 | Cashon | 97 | Just Money | 143 | RoyalCash |
| 6 | Ant Cash | 52 | Clear Loan | 98 | Just Paise Loan App | 144 | Rupeek Buzz |
| 7 | Apna Paisa | 53 | Coin Rupee | 99 | Kash Loan | 145 | Rupee King |
| 8 | Apple Cash | 54 | Coin Rupee | 100 | Koko Loan | 146 | Rupee Plus |
| 9 | Arak Loan | 55 | Coco Cash | 101 | Lend Mall | 147 | Rupee Pocket |
| 10 | Ariaeko Lone | 56 | Crazy Cash | 102 | Link Money | 148 | Rupee Salam |
| 11 | Asan Loan | 57 | Credit Buzz | 103 | Live Cash Loan App | 149 | Rupeestar |
| 12 | Balance Loan | 58 | Credit Finch | 104 | LiveCash | 150 | Rush Loan |
| 13 | Basket Loan | 59 | Credit Pearl | 105 | Loan Cube | 151 | Samay Rupee |
| 14 | Bellono Loan | 60 | Crystal Loan | 106 | Loan Dream | 152 | Sharp Loan |
| 15 | Best Paisa | 61 | Daily Loan | 107 | Loan Fortune | 153 | Shuttle Loan |
| 16 | Bharat Cash | 62 | Dhan Pal | 108 | Loan Loji | 154 | Silver Pocket |
| 17 | Bright Cash | 63 | Dream Loan | 109 | Loan Sathi | 155 | Simple Loan |
| 18 | Bus Rupee | 64 | Easy RP | 110 | Loan Zone | 156 | Simple Loan App |
| 19 | Cash Advance | 65 | Easybrave | 111 | MateroFinanace | 157 | Sky Loan |
| 20 | Cash Advance T1 | 66 | Early Credit App | 112 | MI Rupee | 158 | Slice Pay |
| 21 | Cash Bowl | 67 | Eulavt App | 113 | Minute Cash | 159 | Smile Loan |
| 22 | Cash Carry App | 68 | Express Loan | 114 | Monday Money App | 160 | Small Loan |
| 23 | Cash Colla | 69 | Flash Loan Money | 115 | Money Muthal | 161 | Star Loan |
| 24 | Cash Com | 70 | Flash Rupee | 116 | Money Pocket | 162 | Store Loan |
| 25 | Cash Cow App | 71 | Flip Cash | 117 | Money Stand Pro | 163 | Sun Cash |
| 26 | Cash Credit | 72 | Fortress Loan App | 118 | Money Stand Pro App | 164 | Sunny Loan |
| 27 | Cash Curry | 73 | Fortune Loan | 119 | MoneyLander | 165 | Tap Credit |
| 28 | Cash Era | 74 | Fortune Now | 120 | Monney Tank | 166 | Time Loan |
| 29 | Cash Fish | 75 | Fresh Loan | 121 | More Cash App | 167 | Top Cash |
| 30 | Cash Guru App | 76 | Fri Loan | 122 | My Cash Loan | 168 | Tree Loan |
| 31 | Cash Hole | 77 | Funny Happen | 123 | My Kredit | 169 | Tyto Cash |
| 32 | Cash Hole | 78 | Gold Cash | 124 | Ob Cash Loan | 170 | Unit Cash |
| 33 | Cash Light | 79 | Gold Sea | 125 | OK Rupee Loan App | 171 | UPA Loan |
| 34 | Cash Lion | 80 | Goldman Payback | 126 | One Loan Cash Anytime | 172 | UPO LoanCom |
| 35 | Cash Machine | 81 | Goldloanapp | 127 | One Stream | 173 | Volcano Loan |
| 36 | Cash Magic | 82 | Handy Cash | 128 | Onestream | 174 | Voice Loan |
| 37 | Cash Manager | 83 | Handy Loan | 129 | Orange Loan | 175 | Wallet Payee |
| 38 | Cash Mine | 84 | Hello Box | 130 | Paisawala | 176 | Walletpro |
| 39 | Cash Pal | 85 | Hello Rupee | 131 | Personal Loan App | 177 | Warn Rupee |
| 40 | Cash Park | 86 | Hi Credit App | 132 | Pillai Loan | 178 | Who Cash |
| 41 | Cash Park Loan App | 87 | Holiday Mobile Loan | 133 | Plump Wallet | 179 | Wow Rupee |
| 42 | Cash Pocket Live Cash | 88 | Honey Loan | 134 | Pub Cash | 180 | Yes Cash |
| 43 | Cash Port | 89 | Hoo Cash | 135 | Quality Cash | 181 | Zo Zo Cash |
| 44 | Cash Samosa | 90 | Hu Cash | 136 | Quick Loan App | 182 | Zozo Cash |
| 45 | Cash Station | 91 | I Credit | 137 | Rainbow Loan | ||
| 46 | Cash Star Miniso Rupee | 92 | I Karza | 138 | Rapid |
Important Note: We mistakenly included Buddy Loan in this list. Buddy Loan is a legitimate app. We apologize for any confusion caused.
How to Identify a Fake Loan App
Absence of Regulatory Approval
Real loan apps are registered with financial authorities like the RBI in India. Verify an app’s status on the official financial authority’s website.
Poor App Design
Fake loan apps often have sloppy designs, errors, and unprofessional content. Legitimate apps maintain a clean, user-friendly interface.
Pressure Tactics
Scam apps rush users with urgent deadlines or promise instant approval without proper verification. Legitimate lenders provide clear terms and allow time for review.
Lack of Contact Information
Fake apps often lack proper contact details or provide fake ones. Look for genuine addresses, customer service numbers, and valid emails.
Unclear Terms and Conditions
Legitimate loan apps disclose all terms, including interest rates and fees. If details are vague or hidden, it’s likely a scam.
Upfront Fees
Beware of apps asking for fees upfront. Legitimate lenders only charge after approving and disbursing the loan.
Secure Website
Ensure the app or website uses secure encryption (HTTPS) and displays security certifications.
Too-Good-to-Be-True Offers
Scammers offer unrealistically good deals, like very low interest rates or guaranteed approval. Exercise caution if an offer seems too attractive.
How to Protect Yourself from Fake Loan App Scams
Research Thoroughly
Check app reviews, ratings, and downloads. Genuine apps have many users and positive feedback.
Review Permissions
Be cautious of apps requesting unnecessary data access. Grant permissions only if essential.
Provide Official Documentation
Legitimate apps require standard ID and income documents. Avoid apps approving loans without proper verification.
Use Trusted Sources
Download apps only from official stores like Google Play or Apple App Store. Avoid third-party websites.
Protect Personal Information
Share sensitive data only with trusted apps. Genuine lenders ask for standard KYC documents, not excessive details.
Monitor Transactions
Regularly check bank statements for unauthorized transactions. Report suspicious activities to your bank immediately.
Report Suspicious Apps
Inform authorities like the RBI or consumer protection agencies about suspected fake loan apps.
Which Loan Apps Are Banned by RBI?
The RBI regularly updates its list of banned apps to safeguard consumers. Visit their website for the latest information.
Which Is the Fake Loan App?
Fake loan apps masquerade as genuine lenders but operate fraudulently, deceiving users with poor design and unclear terms.
Which Loan App Is Safe?
Safe loan apps are registered with the RBI and have positive reviews. Examples include LoanTap, MoneyTap, and PaySense.
How to Get 20,000 Rupees Urgently?
If you urgently need 20,000 rupees:
- Check Eligibility: Ensure you meet the lender’s criteria.
- Choose a Trusted App: Opt for LoanTap, MoneyTap, or PaySense.
- Apply: Fill out the application accurately.
- Submit Documents: Provide KYC and income proofs.
- Approval: Await quick processing, usually within hours.
- Receive Funds: Money will be deposited into your bank account.
Conclusion
Fake loan apps exploit vulnerable individuals seeking financial assistance. They pose significant risks such as financial loss and privacy breaches. To safeguard yourself, verify app credibility, read terms diligently, and avoid sharing sensitive information without verification.
Authorities work to curb these scams, but vigilance is crucial. By staying informed and cautious, you can protect yourself from falling victim to these fraudulent practices.
For genuine personal loans, consider trusted options like LoanTap, committed to transparent and secure lending practices.
FAQs about Fake Loan Apps
How do fake loan apps operate?
Fake loan apps impersonate real lenders, tricking users into divulging personal information and money through deceptive means.
How can I identify a fake loan app?
Check reviews, verify developer details, review permissions, and scrutinize terms and conditions for transparency and legitimacy.
What risks do fake loan apps pose?
They pose risks such as financial loss, data misuse, coercive debt collection, and potential identity theft.
Are all loan apps on app stores safe?
Not necessarily. Some fraudulent apps slip through security checks. Verify credibility before downloading.
What should I do if I suspect a loan app is fake?
Report it to the RBI or consumer protection agencies and refrain from sharing personal information.
Can fake loan apps be legal?
No, they operate illegally, violating financial and privacy regulations, and authorities are working to shut them down.
Stay informed and cautious to avoid falling prey to fake loan app scams and make informed financial decisions.
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