Fake Loan App List, The number of financial frauds is increasing by leaps and bounds in India. According to a report of the RBI in 2025, 36000 Crores of fraud have taken place in the name of an Instant loan. So, we’re going to deliver you all the fake loan app lists in India.
The maximum number of loan apps is dangerous and brings a financial threat to your life. They will trap you with multiple lucrative ads like ‘5-minute loan or Interest Free Loans’. These things are mouth-watering, but with time, they’ll create harassment, data theft and fraud-type stuff.
So, it’s important to get a safer financial environment to get a short-term loan. This article on the Fake Loan App List will help you get a deep idea of fraud apps and their red flags. Yes, you’ll also get a research-based Fraud loan app list with the warning sign as well. All you need to read this article until the end to know all the safer alternatives to fraud loan apps.
What are Fake Loan Apps? – Threat to Digital India
Fake loan apps are digital application for mobile which allows you to get a quick or instant loan. But fake loan apps do not work under the RBI or any governing body.
Their main targets are students, small business owners, and middle-class people. These loan apps trap people with hidden charges, much higher interest rates of up to 300%. They only try to make a profit by using or threatening multiple government clauses and others.
How do they Present Themselves? – Fake Loan App List in India
They follow multiple marketing techniques, which bring them qualitative results and trap innocent people. Debt Trap: These fraudsters know their customer pretty well.
They will offer 2000 to 50000 Rs of loan with minimum documentation, with multiple huge hidden charges and up to 300% of interest.
Quick Loan Approval: Yes, they promise to disburse your loan amount in as little as a 5-minute period.
Easy KYC: These 7-day loan apps fool people by saying easy KYC. They ask for minimum documents including Aadhar, Pan, Signature and Selfie.
Public Harassment: If you fail to repay the loan, then you have to face major public harassment. They can harass, abuse and morph your photos. It’ll destroy your social image.
Breach of Data: They also do data harvesting by stealing your personal information, photos and many other things.
What are the Warning Signs of Fake Loan Apps? – Red Flags of Fraud Apps
You should check some critical parameters to know whether your loan app is genuine or fake. We are going to put all those points.
No CIBIL Check: Fraud loan apps won’t check your CIBIL score or your credit history. It only needs the minimum number of documents.
Hidden Processing Fees: Some fraud loan app charges up to 30% extra charges, which makes these apps very pathetic to use.
Higher Interest Rate: All these 7 days loan app comes with relatively higher interest rates. They are actually not following the RBI guidelines and pushing all the borrowers into a critical situation while repaying the amount.
Short Term Period: Genuine lenders allow EMI option, but most of the fake loan apps demand repayment within 7-14 days.
No RBI Approval: Most of the apps do not have proper RBI approval, and all those apps are considered fraud loan apps. So, before borrowing money, you should take a look at the RBI’s official site.
Data Access: If the app requires the gallery, photo and contact access, then it would be a critical red flag. Just stay away from these types of fake loan apps.
Apk Download: If your online loan lender insists you download APK from a third-party site, then don’t do it. They may install malware or spyware in your device, which can cause a significant data breach.
These are 6-7 critical parameters you should check before applying for any online loan.
Difference between RBI-approved Apps vs. Fake Apps
Loan Process
- RBI Approved Bank: Takes time with maximum paperwork for the
- KYC. It usually takes 1-2 days to disburse the payment.
- Fake Apps: 5 Minute loan disbursal process with minimum KYC
- requirement.
Interest Rate
- Approved Institute: 12-24% per Annum
- Fake Apps: 50-100% per Month.
- RBI Approved Bank
- RBI Approved Bank: Registered under NBFCs and regulated by
- RBI’s norms.
- Fake Apps: Registered under a foreign server and operating in India
- without a license.
Repayment Technique
- Approved Bank: Through EMIs, tenure would be 1-5 years.
- Fake Apps: Repayment within 7-14 days.
Helpline:
- Banks under RBI: Have a proper helpline number, if you face issues
- can complain to the RBIFraud Loan Apps: Only provide WhatsApp fake contacts.
RBI Fake Loan App List 2025 – Ultimate Threat to India’s Digital Payment
If we talk about the Fake Loan App List in India, then it’ll be never-ending. Many apps have stopped operation or have been banned by the RBI. But we will deliver a detail guide on the banned app, reporting fake loan apps with some public harassment news.
Apps Banned by Google/RBI/NBFCs
These are multiple apps which the RBI bans.
Insta Loan Mall: Insta Loan Mall was banned due to unauthorised practice and public harassment.
Quick Money India: Quick Money India was suspended due to no approval or the RBI and working through APK installations.
Fast Cash Pro: It was unregulated in India, with a higher interest rate.
Rupee Speed Loan: Rupee Speed Loan was banned due to multiple complains, which involved data misuse and misuse of terms.
Cash Master Loan: Cash Master Loan was reported by the users. It was harassing people for repayment and blackmailing them with morphed images.
#FY 2022-2023: 80 apps blocked among 190+ fraud app complaints .
#FY 2023-24: 1800 Complaints received, 70+ apps got banned.
#FY 2024-25: 800 complaints are registered, and already 30 apps have been banned.
These reports are increasing day by day. So, the public needs to think twice before taking out any loan. Otherwise, they have to face a critical financial threat.
Trending Fake Loan App List All Over India
The government is working very hard against all these fake loan apps in India. By enhancing public awareness, RBI is banning multiple Chinese or foreign apps.
1. Pan-India Extortion Case: Many loan recovery agents are getting arrested due to extortion and harassment. In recent times, Isaki Thevar got arrested due to creating eight fake loan apps. Isaki and his team like to blackmail loan borrowers by using morphed photos and other techniques.
2. Chinese Loan App and Money Laundry Network: RBI and NBFCs jointly investigated the money laundry app and banned all those apps, including Rupee Factory, Quick Loan, Credit Bee and some others.
- These apps used borrowers’ data.
- Used APK to install malware on their users’ devices,
- They used to practice illegal ways to recover their money, including harassment and destroying users’ public images.
Emergency Complaints by the Users on Fake Loan App List: A lot of people share their experience with all these loan apps through Reddit.
- One user from Kerala shared his story through Reddit. He borrowed a loan from an app called Score Pro, the amount was 1600 Rs. But he had to pay 2700 with interest. That app was blackmailing the user with its morphed images.
2. There are plenty number cases which actually deal with the same scenarios. So, it’s important to be aware before having a loan.
Government and NBFCs Regulatory Measures
- The government is constantly working to improve public awareness by using Caller Tune and social media ads.
2. They are banning Chinese loan apps significantly.
Real-Life Cases of Harassment
A young student from Hyderabad took a loan of 7,000 Rs, but after 14 days, the loan recovery agent demanded more than 20000 Rs. They snatched the phone of that student and accessed his contact of him.
That company used to message his relatives and blackmail them by using morphed images. Sadly, that boy took his life.
In Pune, police booked a developer who used to create fake loan apps and trap innocent people by using their personal data and morphed images. He used to make threatening calls to his borrowers. So, 10000+ complaints were registered against him.
In Mumbai (Yogeshwar), a 25-year-old lady took a loan of 2000 Rs, and lenders forced her to pay 4300 Rs with interest within 14 days. She tuned down to pay the loan, so they shared her morphed naked image across social media.
These cases are proving that fake loan apps are not only illegal lenders but also digital extortion tools.
Safer Alternatives to Fake Loan App List
Well, there are a lot of safer alternatives to fake loan apps. You can choose any of the alternatives below.
1. Bank Personal Loan
This is one of the safest ways to borrow money. You can simply go and apply for a personal loan at your bank. This will make all your work easier. All banks, including ICICI, Axis Bank, SBI and HDFC, deliver the best loans with relatively lower interest rates than Fake loan apps.
2. NBFC Approved Loan
Some other trusted loan-approved banking services are Tata Capital, Muthoot Finance and Bajaj Finance Services. You can get your loan from all these lenders in a legitimate way with RBI-approved norms.
3. Salary Advanced Platform Early Salary (now Fibe) and True Balance are the best platforms which allow a salaried person to get early money. If you’re facing any financial trouble and like to secure some instant funds, then use this amazing method.
4. RBI Approved Digital Lenders Platforms like Kredit Bee, Navi, Pay Sense come under the registration of NBFC. So, you can get a quality loan from all these platforms with the best ever terms for short-term.
5. Overdraft and Credit Card These are also one of the best ways to get some instant funds. But, using the credit card facility for money withdrawing may cause a huge burden of interest.
Protect Yourself from Fake Loan App List
In recent times, the number of fake loan scam apps is increasing day by day. So, it becomes important to be aware before making any financial decisions.
Verify from the RBI List: If you like to protect yourself from these scams, then only use RBI RBI-approved banking partner. So, you can use RBI’s official partner that will help you in choosing the best ever baking services.
Beware of Lucrative/Unrealistic Offers: It’s also an important parameter to check out. You should stay away from those fake loan apps that claim ‘5- minute loan’ or ‘Instant approval’.
Cross Check App Permissions: Always check the app permissions. If any app is asking for Contacts, Gallery, Photos, and SMS access, then it would be a red flag for you. These apps would scam you.
Use Official Channel Only and Protect your Data: You should download loan apps from a verified source like the Google play store, and App Store. Don’t use APKs that would bring the ultimate threat to you. Yes, APK can install malware in your system.
Protect yourself from a Data Breach: Data breaches have become one of the biggest threats in recent times. You should protect your Aadhar, Pan and banking details from unauthorised websites.
How to Report Fake Loan App List to RBI: Sachet Portal?
You have to visit RBI’s Sachet Portal at https;//sachet.rbi.org.in.
- Go to the Official Site.
- Fill up basic details with email verifications.
- Any existing users can directly log in by using OTP.
- File a complaint in detail by using the Company entity and others.
- Submit the Complain.
FAQs on Fake Loan Apps
Are 7 Day Loan Apps Safe to Use?
RBI and NBFC-approved apps are safe to use. But most 7 day loan apps are scams.
Can Loan Apps Access my Contacts, Gallery and Others?
Yes, definitely not if you give them that permission only.
How do I Know the App is Fake or Not?
You can use RBI’s official site, whether the loan is listed or not.
Final Verdict: Fake Loan App List
The rising number of fake loan apps becomes a serious threat to India’s Financial system. These apps mainly target small business owners, students or lower middle- class people to trap. And, do fraud with them by harassing, applying hidden charges and others.
So, the Government should start an awareness program to ban all those scam apps in India. It’s our hearty request to all our readers, if you face any emergency financial issue, then please borrow money from RBI-approved lenders.
Through this article, we have delivered a detail guide on Fake Loan App List. If you have any doubts, then reach us via email. Thanks for reading!
