Fake 7 days loan apps list in India

7 days loan apps list : Nowadays getting a loan is very easy because of many online loan apps. We can easily get an instant loan without submitting any type of documents by just verifying our details.

However, with this, some fake loan apps are also taking advantage of this and collecting data, and money from users. While there are some good apps available, there are also fake ones.

What Is 7 days loan apps list

The 7-day loan apps list is a type of app that will give you an instant loan by verifying your details. These apps dont require offline documents. They will charge some amount of money for giving this loan as an interest and service charge. Most of these apps collect high amount of interest rates. Most of these types of apps don’t have the RBI approvel. Those app are called fake apps. This type of fake app will be removed from the Play Store as soon as possible as it is fake. After removing the app from Play Store, those companies will come will a different app name.

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7 Days loan Apps List

These are the fake loan apps we have noticed in the Play Store. Please do your minimum investigation before taking a loan from any Online loan apps

How to find fake 7-day loan apps?

You can find fake loan apps based on some factors, Here are some examples

1. Not Having RBI or NBFC Registration:- All genuine loan apps will have RBI registration or must collaborate with Non-Banking Financial Companies (NBFCs). However, these types of fake loan apps will not have either of these.
2. Bad Reviews and Ratings on Play Store:– Generally, these types of fake apps will have the worst ratings and reviews. Before taking a loan from any loan app, first check the app’s reviews and ratings.
3. Irritating Calls and Messages:- If you receive a large number of calls and messages from loan apps, there might be a chance that it’s a fake loan app. Be cautious before taking a loan from such apps, and don’t click on links coming from these messages.
4. Higher Interest Rates:- Fake loan apps will charge higher interest rates. Initially, they may claim that the interest will be very low, but they will credit the amount to your account after deducting transaction fees and charging higher interest.
5. Not Checking Credit Score:- These fake loan apps do not check your credit score, whether it’s high or low. Every genuine loan app will check the credit score before granting a loan. If an app doesn’t check your credit score, there’s a chance that it may be a fake loan app.

Conclusion :-

Nowadays, getting a loan is very easy, but check whether you are taking a loan from the legitimate apps. Be aware of the fake loan apps. Some loan apps may look very good, but they will harm you more. Be smart, stay safe.