Based on a true story (name changed for privacy)
We live in a time where help is often just an app away. Need groceries? There’s an app. Need a ride? Another one. Need a quick ₹10,000? There are plenty of apps for that too.
But when it comes to borrowing money, speed shouldn’t replace awareness.
Let me tell you about Rashi, a former colleague of mine who quietly fought a battle many people are going through right now — the pressure of managing multiple small loans from different apps.
🔸 Rashi’s Story: A Small Request That Revealed a Bigger Reality
Rashi was the kind of colleague you instantly liked — warm, helpful, and never the kind to complain. A few months ago, she reached out to me with a simple request:
“Can I borrow ₹2000? My UPI apps aren’t working, and I need it urgently. I’ll return it in 2 days.”
It was a small amount, and she promised a quick repayment. I didn’t think twice.
The days passed quietly. Then came a message — she hadn’t forgotten, but was facing delays. Next month, she told me she’d been hospitalized, and her salary had been reduced. No excuses, no lies — just a quiet explanation and a promise that she hadn’t forgotten.
I appreciated her honesty, and honestly, I had already written it off in my mind. But I also sensed there was more to the story.
🔍 The Bigger Picture — When 4 Loan Apps Turn into 4 Stress Points
During a casual conversation, I gently asked if she had taken loans from apps. She nodded.
Rashi had borrowed from four different loan apps — each with small amounts, but different repayment dates, interest rates, and notification styles. Initially, the experience felt convenient. But with each new app, it became harder to keep track.
“I didn’t plan to take so many,” she said.
“But when the first one’s repayment date came up, I borrowed from the second. Then a third. Then a fourth.”
She wasn’t careless. She was simply trying to manage an unexpected medical emergency and daily expenses — just like many others do.
📘 What This Taught Me (and What It Can Teach You)
Rashi’s situation didn’t spiral because of recklessness — it happened because of lack of information. She thought she was using a smart solution. But without knowing how interest stacks up or how it can affect CIBIL scores, even small loans can cause stress.
That’s when I decided to share with her some of the things I had learned through my research and running GetLoanCredit.com.
✅ Borrowing the Smart Way – What You Should Keep in Mind
If you’re planning to take a loan from an app, pause and ask yourself:
🔹 1. Can I repay this without borrowing again?
Avoid borrowing from one app just to repay another. It’s a cycle that’s hard to escape.
🔹 2. Have I read the interest rates and late charges clearly?
Many apps show the EMI but hide the actual APR (Annual Percentage Rate). Even a ₹5000 loan can cost ₹7500 if you’re late by a few days.
Check this:
🔗 Why Your ₹10,000 Loan Might Cost You ₹15,000 — Hidden Charges Explained
🔹 3. Is the app RBI-registered and does it have real customer support?
Look beyond just the download count and user reviews.
This might help:
🔗 How to Know If a Loan App is Trustworthy in India – 2025 Guide
🔹 4. Can I start with just one small, manageable loan and build my CIBIL score?
Yes — this is a smart way to use loan apps.
Check this guide:
🔗 How to Build Your CIBIL Score with Small Loan Apps – India 2025
❤️ Final Thoughts: Empathy Over Judgment
If you ever see someone struggling financially, try not to judge. Most people aren’t careless — they’re just caught in a tough moment without guidance. Like Rashi.
And if you’re someone thinking of taking a loan — know this: you’re not alone and you can do it right.
Loan apps, when chosen carefully and used with discipline, can be your friend — not a burden.
Choose wisely. Borrow responsibly. Learn constantly.
