Avoid these Loans at all cost #loan #finance #education #bank

A Reserve Bank of India (RBI) Working Group on digital lending said in a report that as many as 600 “illegal loan apps” are there in several app stores for Android users in India. A total of around 1,100 unique Indian loan apps that have the keywords such as loan, instant loan, quick loan, etc, are available in the App stores.

🔸The police in Telangana and Andhra Pradesh have identified the following mobile apps which are offering instant loans:

Cash Mama, Loan Zone, Dhana Dhan Loan, Cash Up, Cash bus, Mera Loan, Hey Fish, Monkey cash, Cash Elephant, Water Elephant, QuickCash, Kissht, LoanCloud, InstaRupee Loan, FlashRupee-Cash Loan, Mastermelon Cashtrain, GetRupee.

Maybe these Apps you’ll not found in Playstore anymore as it has removed, but these are coming back again and again by changing their name and their sources in across different Stores, specially found in Chinese smartphones.

🔸Some of these Instant Loan Application Ratings are very good because of many spam and fake Reviews, so please don’t Trust anything blindly.

➡️Bottom Line:- Do not download any Instant Loan app before you are sure that brand is associated with a bank or NBFC which are legally registered with the RBI.

Source:- Times of India, Hindustan Times, OneIndia

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