"You Loan is Approved" - But No Funds Arrived? What to Do When Your Loan App Leaves You Hanging

“It’s been eight hours since they said ‘You’re approved’—but my bank balance is still zero.”

Back in 2023, I was waiting on a ₹10,000 loan to cover urgent travel and medical expenses. The app said “Loan Approved” and even displayed a repayment schedule. I waited 1 hour. 2 hours. A full day. Nothing came.

I reached out to customer care—no response. I emailed them—auto-reply. Meanwhile, the app had already recorded my “loan” and showed due dates. I was now on the hook for money I never received.

That was my rude introduction to one of the most frustrating and shady practices by some digital lenders in India. Here’s everything I learned and what you can do if you’re facing the same situation.

⚠️ Why This Happens: Common Reasons

Reason	What It Means
Technical error	App/server may be down or buggy
KYC not verified	PAN/Aadhaar mismatch or document expired
Fraudulent app	They never intended to disburse the loan
Shadow NBFC	NBFC partner pulled out or lacks license

🔎 Step-by-Step: What to Do If Funds Don’t Arrive

✅ 1. Confirm It’s Not a Delay

Check your SMS/email for transaction confirmation
Look inside the app for Disbursal History or Status Page
Wait 24–48 hours (some NBFCs delay non-bank working days)

✅ 2. Contact Support (But Document Everything)

Email their support with date/time of application
Screenshot everything: Approval message, loan ID, etc.
If there’s a helpline, record the call or note reference number

✅ 3. Block Autodebit Mandates

If you authorized eNACH or auto-debit during signup:

Login to your bank
Go to Mandates/Auto-Debits
Cancel any pending mandate for that NBFC or app

✅ 4. Report the App

If you believe the app is ghosting you:

File a complaint at cybercrime.gov.in
Complain to the RBI Ombudsman via https://cms.rbi.org.in
Leave reviews on Google Play warning others

🫠 Bonus Tips: How to Avoid This Trap Next Time

Only borrow from apps tied to verified RBI NBFCs
Search the NBFC name on rbi.org.in
Use apps with transparent disbursal timelines
Avoid apps that promise “Guaranteed Loans” or “No KYC Loans”

✉️ Sample Complaint Template (Email/Online Form)

Subject: Loan Approved But Not Disbursed - Urgent Resolution Required

Dear [App Name] Team,

I applied for a loan on [Date] and received approval (Loan ID: XXXXX). However, the funds have not been credited to my bank account even after [X] hours/days. Please treat this as urgent. If I don’t hear back within 48 hours, I will file a complaint with the RBI Ombudsman and Cyber Crime Cell.

Regards,  
[Your Name]  
[Mobile] / [Email ID]

❗ Final Reminder: You Owe Nothing Unless Money Hits Your Account

Legally, a loan becomes binding only when money is disbursed. Approval alone is not a contract. No NBFC or app can demand repayment for a loan that was never received.

So if they list a due date or try collecting EMI—you are well within your rights to fight back.

🔗 Also Read:

🔼 Bottom Line

Don’t be afraid to speak up. If you never received the money, you don’t owe a rupee. Take screenshots, cancel mandates, report the app, and make sure others don’t fall into the same trap.

If you’ve faced this before, share your story in the comments. It might just save someone else.

“You Loan is Approved” – But No Funds Arrived? What to Do When Your Loan App Leaves You Hanging