😠 Ever Received a Message Saying Your Loan is Approved… But You Never Applied?
If you’ve seen SMSes like:
“₹18,500 credited to your account xxxx. Repay in 7 days or face action.”
“Congrats! Loan approved. Click to claim.”
And you’ve thought, “I didn’t apply for any loan!” — then welcome to the dark world of shady loan apps in India.
Not all loan apps are bad — but some are downright dirty with how they trick, scare, or trap users.
Let’s expose their tactics 👇
🚩 1. Fake Loan Approval Messages – Even If You Never Applied
Shady companies send spam SMS and WhatsApp messages pretending you’ve been approved or given a loan already.
Why they do it:
- Trick you into installing their app
- Get you to “claim” the loan, so they can access your contacts
- Startle you into taking a loan out of fear or confusion
James’ Story:
“I started getting 3-4 messages a day saying my account was credited — with different amounts, fake bank names, and scary deadlines. I never applied for any of them. Some even used partial account numbers to sound legit. It’s both annoying and disturbing.”
🧠 Outsmart Them:
- Don’t click on suspicious loan links.
- Block & report such numbers.
- Install Truecaller or Call Blockers to auto-filter spam.
🔍 2. They Show You One Amount, But Give You Less
You’ll see this:
“Loan Approved: ₹10,000. Repay ₹10,500 in 30 days.”
But once approved, they cut a ₹1500 processing fee, plus GST, and only send you ₹8,300.
Yet — you still repay ₹10,500!
It’s not just misleading — it’s a trap.
🧠 Outsmart Them:
- Look for apps that show total disbursed and total repayable side-by-side.
- Always ask: “What will I receive in hand?”
🎭 3. They Call Themselves “RBI Approved” – But They’re Not
Some apps falsely display:
- “RBI Registered NBFC”
- “Backed by XYZ Finance”
- “Government Approved App”
But dig deeper — and:
- No real NBFC license
- No registration number
- No website or helpline
- Just a fancy logo
🧠 Outsmart Them:
- Use the official RBI NBFC list to verify any loan company.
- If an app doesn’t clearly show its NBFC partner, walk away.
📞 4. They Demand Access to Contacts – Even Before Approving You
Before you get approved, many shady apps ask to:
- Access your contacts
- Read your messages
- View your gallery
- Know your location
Why? So if you ever default, they can:
- Shame you by messaging your contacts
- Threaten legal action
- Harass you constantly
🧠 Outsmart Them:
- Don’t grant permissions unless absolutely necessary.
- Use phones with permission control (e.g., Xiaomi, Realme, Samsung OneUI).
- Read reviews before installing any app.
🪤 5. They Hook You with 0% Interest – But Hit You With Fees
You’ll see banners like:
“₹5000 loan at 0% interest!”
But what they don’t tell you:
- ₹700 processing fee
- ₹200 verification fee
- 18% GST
- 7-day tenure
By the time it’s done — you’ve paid ₹1000+ extra for a short-term ₹5K loan.
🧠 Outsmart Them:
- Ask for APR (Annual Percentage Rate), not just interest rate.
- Avoid loans with very short tenures unless it’s an absolute emergency.
✅ Final Advice
“If a loan app feels too fast, too easy, or too quiet about the real cost — it’s probably hiding something. Stick to apps that are upfront about fees, repayment terms, and don’t harass users.”
🛡️ Bonus Tip:
We’ve compiled a list of legit loan apps in India that are transparent and actually disburse what they promise.
👉 Check the Top 5 Trusted Loan Apps in India – 2025 Review
💬 Have you faced any of these tricks?
Drop your story in the comments — let’s help others stay alert.