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    Personal & Other Loans

    How do I know if a loan app is genuine or fake?

    Updated · CardKhoj Editorial Team

    Short answer

    A genuine loan app is run by, or partnered with, an RBI-regulated bank or NBFC that it names clearly. Check the lender on the RBI website, read the Key Fact Statement before accepting, and make sure money is credited directly to your bank account. Avoid apps that ask for upfront fees or access to your contacts and photos.

    Red flags

    • No name of the regulated bank or NBFC behind the loan.
    • Asks for a “processing fee” or “insurance” before disbursal.
    • Requests access to contacts, photo gallery or location.
    • Very short tenures (7–30 days) with unclear charges.
    • Threats or harassment from recovery agents.

    How to verify

    1. Find the lending partner's name in the app or on its website.
    2. Check that the bank or NBFC is listed on the RBI website, including RBI's directory of digital lending apps.
    3. Insist on a Key Fact Statement showing APR and all fees.
    4. Read the privacy policy and app permissions.

    If you have been targeted

    Report it on the national cybercrime portal (cybercrime.gov.in) or call 1930, and file a complaint on RBI's Sachet portal. Do not pay money to stop threats.

    This answer is general information, not personalised financial or tax advice. Rules, rates and limits change — confirm with your bank, the RBI or a qualified adviser before making decisions.