Beware! The Ultimate List of Fake Loan Apps to Avoid in 2024

In recent years, the proliferation of digital lending platforms has made it easier for individuals to access quick loans. However, not all loan apps are legitimate or trustworthy.

Some fraudulent apps exploit unsuspecting borrowers, leading to financial distress and privacy breaches.

To protect yourself, it’s crucial to be aware of the banned loan apps in 2024. That’s why we have curated a List of Fake Loan Apps to Avoid in 2024.

Let’s delve into the details:

What Are Fake Loan Apps?

Fake loan apps are malicious software applications designed to deceive users into believing they are legitimate loan providers.

These apps often mimic genuine financial services, using convincing branding and sophisticated interfaces to appear credible.

Scammers behind these apps employ various tactics, such as offering unrealistically low interest rates, demanding high upfront fees, and requiring sensitive personal information under the guise of processing a loan application.

Why Are These Apps Banned?

The Reserve Bank of India (RBI) and other regulatory bodies have identified several loan apps that engage in unethical practices.

These apps often charge exorbitant interest rates, misuse personal data, and employ aggressive collection tactics.

To safeguard consumers, the RBI maintains a list of banned loan apps that individuals should avoid.

Signs of a Fake Loan App

Recognizing a fake loan app can save you from significant financial and emotional distress. Here are some common warning signs: (List of Fake Loan Apps to Avoid)

Unrealistic Promises

If an app promises instant loans with no credit checks or offers terms that seem too good to be true, it’s likely a scam. Genuine lenders assess your creditworthiness before approving a loan.

High Upfront Fees

Legitimate lenders typically do not require large upfront payments. If an app demands high fees before processing your application, be cautious.

Lack of Proper Licensing

Authentic loan providers are registered and licensed by financial authorities. Verify the app’s credentials with relevant regulatory bodies.

Poor App Design and Functionality

Fake apps often have subpar user interfaces, frequent glitches, and poor overall functionality. These issues are red flags indicating a lack of professional development.

Overly Aggressive Marketing Tactics

Beware of apps that use high-pressure sales tactics, such as constant notifications and limited-time offers, to push you into making hasty decisions.

The List Of Fake Loan Apps in India (2024 Updated)

Here’s a rundown of some of the most notorious fake loan apps you should steer clear of in 2024:

1Agile Loan app260Easy credit
2Aladdin Lamp261Easy Credit Loan App
3Angel Loan262Easy loan
4Apna Paisa263EasyCash Loan
5Apple cash264Easy Rp
6Ariaeko Lone265Elephant Cash
7Asan Loan266Es Loan
8ATD lone267Eulavt App
9Balance lone268Express loan
10Basket loan269Express Loan
11Bellono Loan270Fash rupee
12Bellono Loan App271Fast cash
13Best Paisa272Fast coin
14Betwinner betting273Fast Paisa
15Bharat Cash274Fast cash
16Bright Cash275Fast rupee Loan App
17Bright money276Fast Rupee
18Buddy Loan277Fexli Loan
19Bus rupee278First Cash
20Bharat Cash App279Flash Loan App
21Clear Loan280Flash Loan Mobile
22Cash Advance281Flash rupee
23Cash Advance Loan App282Flip cash
24Cash Advance Atach283For Pay
25Cash Advance T1284Forpay app
26Cash Advance Attach285Fortress Loan App
27Cash Book286fortune now
28cash bowl287fresh loan
29Cash Carry App288Fri Loan
30Cash Cola289Funny happen
31Cash colla290Get Cash
32Cash cow App291Gold Cash
33Cash Cow292Gold loan app
34Cash Credit293Gold Sea
35Cash curry294Goldcash
36Cash fish295Goldman Payback
37Cash go296guru loan app
38Cash Guru App297Hand Cash
39Cash magic298Hand Cash Friendly Loan
40Cash Hole299Handey Loan
41Cash host Loan App300Handy loan
42Cash Host301Hello Box
43cash machine302Hello Rupee
44Cash Machine Loan303Hi Credit App
45Cash magic304Holiday Mobile Loan
46Cash manager305Honey Loan
47Cash Manager306Honey Loan App
48Cash Mine307Holiday Mobile
49Cash Papa308Hoo Cash
50Cash Park Loan App309Hu cash
51Cash park310I Credit
52Cash Park Loan311I karza
53Cash Pocket312Income loan
54cash pocket live Cash313Income OK
55Cash Samosa314IND loan
56cash star miniso rupee315India AI Credit Cash Loan
57Cash Station316Infinity Cash
58Cashcarry Loan App317Insta Loan
59Cashcom318Insta money
60cashpal319Jo Cash
61Clear Loan320Just paise Loan App
62Coin Rupee321Just money
63Crazy Cash322Kash loan
64Credit buzz323Koko cash
65Credit Loan324Koko Loan
66Crystal Loan325koko loan
67Credit Pearl326Lend Mall
68credit wallet327Link Money
69Crystal Loan328Live Cash Loan App
70Daily Loan329Live Cash
71Dhan Pal330Loan Cube
72Discover Loan App331loan cube
73Dream loan332Loan dream Ap[
74DuttaRuppes333Loan Dream
75E Paisa334Loan fortune
76Eagle cash loan App335Loan Fortune
77Early Credit App336Loan Home Small
78Easy Barrow Loan App337loan loji
79Easy Borrow Cash loan338Loan Resource(disi)
80Easy brave339Loan Sathi
81Loanzone340Rupeek buzz
82Lucky Loan App341Rupeek cash
83Lucky Wallet342Rupeek fenta
84M pocket343Rupeeking
85MagicCash Loan App344Rupeeok
86Magic Money345Rupeeplus
87Magicc Loan346Rupeeredee Loan App
88Mama Loan347Rupeestar
89Magicc Loan App348Rupiya bus
90Marvel cash349Rupiya company
91Marwel Loan Baba350Rush Loan
92Matero Finance351Samay Rupee
93May Loan352Sharp corn
94Mi Rupe353Sharp Loan
95Minute Loan App354Simple Loan App
96Minute cash355Shuttle Loan
97Minutes In Cash356Silver Pocket
98Mo Cash357Simple Loan
99Mobikquick358Sky Loan
100Mobile cash359Slice pay
101Monday money app360Small Loan
102Money box361Small Cash Loan App
103Money Ladder362SmalLoan App
104Money lander363Smart Coin
105Money Master364star loan
106Money Master App365Store Loan
107Money muthual366Sun cash
108Money pocket367SUN CASH
109money stand pro368Sunny loan
110Money standup369Time loan
111Money tree370Top Cash
112money stand pro App371tree lone
113Money View App372Tyto Cash
114Monney Tank373Unit Cash
115More cash374UPA Loan
116More Cash App375UPO Loancom
117More Loan376Voice loan
118My Cash Loan377Volcano Loan
119My Kredit378Wallaby App
120Name of app379Wallet Payee
121Ob cash loan380Apna Paisa
122ob cash loan App381Walletpro
123Ok Rupee Loan App382Warn Rupee
124One Loan Cash Any Time383Wen Credit
125One loan easy loan384Wow Rupee
126onstream385Yes Cash
127Orange Loan386Yes Rupees
128Orange Loan387Zo zo Cash
129Paisawala388Cash port
130Personal Loan App389Alp cash
131Phone pay390Angel Loan
132Pillai Loan391Apna Paisa
133Plump Wallet392Asana Loan
134pocket bank393Cash Curry
135Pokemoney394Cash era
136PradhanmantriYojna Loan395Cash lion
137Pub cash396Cash Star Miniso Rupee
138Quality cash397Cashon
139Quality Cash Loan App398Coco cash
140Quick Loan App399Credit finch
142Rainbow Loan401Early Credit App
143Rapid Paisa402Elephant loan
144Reliable Rupee Cash403Eye Credit
145rich cash404Fast Paisa
146Rich Loan Go405Fast Rupee
147Rocket Loan406First Cash
148Royal able rupee cash407Flash Loan Mobile
149Royal cash408Go cash
150Rupee Box409Hand Cash
151Rupee Loan410Ind Loan
152Rupee Cash Loan411Insta Loan
153Rupee Magic412Insta Money
154Rupee mall413Lend Mall
155Rupee Online414Live Cash
156Rupee Papa415Loan Resource (DIC)
157Rupee pocket416Loan tap
158Rupee salam417Loan zone
159Rupee smart418Loanzone
160Rupee Star419Micredit
161My Cash Loan420Cash Cola
162Onstream421Cash Carry Loan App
163Plump Wallet422Cash App
164Quick cash423Cash Cola
165Rich Cash424Cash colla Loan
166Rupee Magic425MateroFinance
167Rupee pus426Cash Guru App
168RupeePlus427Cash Credit
169Rupees plus428Cash curry
170Samay Rupee429Cash fish
171Small Loan430Cash go
172Smile loan431CashCow Loan App
173Star Loan432Rupeekbuzz
174Tap credit433Cash Guru App
175Wow Rupee434Cash Hole
17666 cash435Cash Hole Loan
17766 Cash App436Cash host
178Agile Loan app437Cash Host Application
179Agile Cash App438Cash Light
180Aladdin Lamp439cash machine
181Angel Loan440Bharat Cash
182Ant cash441Coin Rupee
183Apna Paisa Cash442Cash Machine Loan
184Apna Paisa443Cash Machine
185Apple cash444Cash magic
186Arak Loan445Cash Papa
187Ariaeko Lone446Cash Manager
188Asan Credit447Cash park
189Asan Loan448Cash Mine
190Asan Loan App449Cash Papa
191Asan Loan450Cash manager
192ATD Loan451Cash Park
193ATD lone App452Cash Mine
194Balance Loan453Cash Park Loan App
195Balance lone454Cash Park Loan
196Basket loan455CashPark Loan App
197Bellono Loan456Cash Pocket Live Cash
198Bellono Loan App457Cash Pocket
199Bellono App458Cash pocket
200Beloan App459Cash Pocket Loan App
201Belono Loan460cash pocket App
202Best Paisa461Cash Pocket Live Cash
203Best Paisa Loan App462Cash room
204Betwinner betting463Cash Samosa
205BetWinner LOan464cash star miniso rupee
206Bharat Cash465Cash Station
207Cash Machine Loan466Cash today
208Bharat Cash467CashcarryApp
209Bright Cash468CashCarry Loan App
210Bright money469Cashcom
211Bud Loan470cashpal
212Buddy Loan471Clear Loan App
213Bus rupee472Chhota Loan
214Bus Rupee473Cashpal
215cash474Clear Loan
216Cash Advance475Coco Loan
217Cash Loan App476Cashcom App
218Cash Advance Loan App477Cash Machine Loan
219Cash Advance Atach478Income Value
220Cash Advance T1479Joe Cash
221Cash advance480Loan Saathi
222Cash Advance App481Tree Loan
223Cash Book Loan Application482Money Master
224Cash Book483Silver Pocket
225Cash Personal loan App484Loan Home Small
226cash bowl485Who Cash
227Cash Bowl Loan App486Forpay app
228Cash Carry Loan Application487Rainbow Loan
229Cash Carry App488Brightmoney
230Cash Cash App489Cashmagic
257SmartLoan516free cash
258Blink loan517Rupee Park App
259GOLDEN RUPEE518Wonder Loan app

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List Of Fake Loan Apps in India (PDF 2024)

List of Fake Loan Apps

Which loan apps are banned by RBI?

Below is the list of Banned Loan Apps in India PDF 👇

How to Protect Yourself from Fake Loan Apps?

1. Verify the App’s Credentials

  • Download from Official Stores: Only download loan apps from verified sources like Google Play or Apple App Store. Avoid third-party websites or unverified platforms.
  • Check for Reviews and Ratings: Look for user reviews and ratings. Low ratings or negative feedback should raise red flags.
  • Terms and Conditions: Legitimate loan apps have clear terms and conditions. Avoid apps that promise instant loans without proper documentation.

2. Understand the Terms

  • Interest Rates: Be wary of unrealistic interest rates. If an app offers loans at exceptionally high rates, reconsider.
  • Processing Fees: Some fake apps charge exorbitant processing fees. Read the fine print before proceeding.
  • Hidden Charges: Scrutinize the terms for hidden charges. Legitimate lenders are transparent about fees.

3. Protect Your Personal Information

  • Permissions: When you install an app, it often requests access to your phone’s data. Be cautious. Some apps misuse this information.
  • Aadhaar and PAN: Avoid apps that ask for sensitive details like your Aadhaar or PAN card without a valid reason.
  • Contacts List: Some apps access your entire contacts list. Understand why they need this information before granting permission.

4. Research the Lender

  • Registered with RBI: Verify if the lender is registered with the Reserve Bank of India (RBI). Legitimate lenders comply with regulations.
  • Background Checks: A genuine lender will conduct background checks. Avoid those that skip this step.

5. Report Suspicious Activity

  • Prompt Reporting: If you encounter suspicious behavior or harassment, report it promptly to relevant authorities.
  • Stay Informed: Educate yourself about common scams. Share this knowledge with friends and family.

Remember, your financial safety matters. Avoid falling into the trap of fake loan apps.

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List of Fake Loan Apps: FAQs

What should I do if I’ve already shared my information with a fake loan app?

Immediately secure your accounts by changing passwords, monitoring for unusual activity, and reporting the incident to financial institutions and authorities.

How can I identify a fake loan app before downloading it?

Look for red flags such as high upfront fees, unrealistic promises, poor app design, and lack of proper licensing. Check reviews and verify information with official sources.

Are there any government resources to help identify fake loan apps?

Yes, many governments provide online resources and advisories through financial regulatory bodies to help the public identify and avoid fake loan apps.

What are some red flags to watch out for in loan app advertisements?

Be cautious of ads promising instant loans with no credit checks, high upfront fees, and aggressive marketing tactics. Always verify the app’s legitimacy before proceeding.

Can fake loan apps be reported to app stores?

Yes, report suspicious apps to the app store where you downloaded them. App stores often have mechanisms to review and remove fraudulent apps based on user reports.

The Bottom Line

Hope you found the list of fake Loan Apps. Yes, navigating the world of online loans requires vigilance and informed decision-making. By recognizing the signs of fake loan apps and knowing how to verify legitimate services, you can protect yourself from financial scams. Stay informed, stay cautious, and prioritize your financial security.

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