99 Fake Loan App List You Should Avoid in 2024

Know Your Enemy and stay safe from money traps! Uncover the Fake Loan App List you should avoid in 2024. Protect your finances.

Fake Loan App List
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In India, there are tons of apps for borrowing money online. It’s super easy to get a loan, but be careful! Some of these apps are fake and just want to steal your information or trick you into paying money. They might call themselves “7 days loan app” or promise you money right away, no questions asked.

But don’t fall for it! These fake apps can get your personal info and cause you big problems. This article will tell you about all the loan apps that the Indian government has banned. You’ll also find a list of fake loan apps to avoid so you can borrow money safely.

This article wants to help you stay safe. It will tell you about loan apps that the Indian government has banned because they’re fake. It also has a list of fake loan apps to watch out for in 2024. Before you borrow money online, check this list to make sure you’re using a real lender.

Also Read: Fake UPI Payment: 11 Safety Tips to Spot & Avoid The Fraud

What is a Loan App?

Loan apps are mobile applications that facilitate access to small, short-term loans. Legitimate loan apps provide a valuable service, bridging the gap between traditional banks and underserved segments. They operate through a simple interface, requiring minimal documentation and offering quick approvals. Often targeting individuals with limited access to traditional banking services, these apps entice borrowers with speedy transactions and seemingly low interest rates.

How Fake Loan Apps Operate
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Understanding Fake Loan Apps:

Fake loan apps operate under the guise of legitimate financial services, often mimicking the names and logos of established lenders. They lure users with deceptive advertisements promising exorbitant loan amounts, unbelievably low interest rates, and immediate approvals. However, beneath this alluring facade lies a web of deceit and predatory practices.

How Fake Loan Apps Operate:

  • Lure of Easy Money: They bombard potential victims with targeted ads and unsolicited messages, preying on their financial anxieties.
  • Lure with promises: Eye-catching advertisements and easy-to-navigate interfaces create an illusion of legitimacy.
  • Minimal Verification: Unlike legitimate lenders, they require minimal documentation, potentially bypassing Know-Your-Customer (KYC) norms.
  • Instant gratification: Loans are disbursed quickly, further solidifying the sense of trust.
  • Hidden Charges: The advertised interest rates are often just a starting point. Astronomical processing fees, late payment penalties, and hidden charges quickly inflate the actual cost of the loan.
  • Debt Trap: Once borrowers are hooked, they get trapped in a cycle of debt. Unable to repay the inflated amount, they are coerced into taking further loans at even higher interest rates, leading to a never-ending debt spiral.

    You may read: What is Debt Trap and How Can You Escape The Trap?
  • Predatory Practices: These apps often resort to harassment and intimidation tactics to coerce borrowers into repayment. They may threaten to expose personal information or contact employers and family members.
  • Data breach risk: Sensitive information is stolen, exposing borrowers to further financial and personal risks.
Fake Loan App - Growing Concern
Photo Source: techibytes.com

The Growing Concern in India:

India, with its large unbanked population and increasing smartphone penetration, has become a breeding ground for fake loan app scams. These apps exploit financial desperation, leading to devastating consequences for individuals and families. Reports of harassment, extortion, and even suicides due to debt traps set by these predatory apps have become increasingly common, raising serious concerns about consumer protection and financial literacy.

99 Fake Loan App List in India: Know Your Enemy

Compiling a definitive list of fake loan apps is a challenging task, as new ones emerge constantly. Some of the recently identified fake loan apps in India include:

1. Rupees King
2. Fast Cash
3. Infinity Kola
4. Easy Credit Loan
5. Money Trep
6. Credit Wallet
7. Cash Pockets
8. Hello Rupees
9. Small Credits
10. Star Loan
11. Quick Cash
12. Micredit
13. Play Cash
14. Panda Rupees
15. Rupee Plus
16. Agile Loan app
17. Cash Guru App
18. Cash Machine Loan
19. Cash magic
20. Loan Shark
21. Ujjwala Loan
22. Rupee Cash
23. Easy Loan
24. Daily Loan
25. Discover Loan App
26. Loan Fortune
27. Loan Sathi
28. Rush Loan
29. Simple Loan App
30. Live Cash Loan App
31. Just money
32. Insta money
33. Holiday Mobile Loan
34. EasyCredit
35. FlashLoan
36. Go Crédito
37. AA Kredit
38. 4S Cash
39. Cashwow
40. Amor Cash
41. Rápido Crédito
42. Finupp Lending
43. CrediBus
44. Cash Advance
45. LoanTap
46. RupeeClub
47. OneCash
48. KissCash
49. EasyLoan
50. CashBus
51. LoanWorld
52. Gold loan app
53. Fortress Loan App
54. Flash Loan Mobile
55. Easy Credit Loan App
56. Early Credit App
57. Go cash
58. Paisawala
59. BrightCash
60. Who Cash
61. Loan Saathi
62. Cash Host
63. Money Tree
64. Rupee smart
65. Top Cash
66. Cash Station
67. Suttle Loan
68. Yes Rupees
69. Magic money
70. Es loan
71. Fexli loan
72. Unit Cash
73. Chhota Loan
74. Cash Papa
75. Asan Credit
76. Fri Loan
77. Wallaby App
78. Mama Loan
79. Best Paisa
80. Bharat Cash
81. Mobikquick
82. Cashcom
83. Cashgo
84. Goldloanapp
85. Suncash
86. Easybrave
87. Cash Carry App
88. Cash Credit
89. Wow Rupee
90. 66 Cash App
91. Apna Paisa Cash
92. Apple cash
93. Flashrupee
94. Silver Pocket
95. Mobilecash
96. Manta Cash
97. Clear Loan
98. ZozoCash
99. CashPark

It’s important to note that this is not an exhaustive list, and new fake apps emerge constantly. It’s crucial to stay vigilant and exercise caution before using any loan app.

How to Identify a Fake Loan App:

  • Unrealistic Promises: Be wary of apps offering exorbitant loan amounts, ridiculously low interest rates, or instant approvals without any verification.
  • Minimal Verification: A genuine lender will always require proper KYC documentation. If an app asks for minimal information, proceed with caution.
  • Vague Terms and Conditions: Scrutinize the app’s terms and conditions carefully for hidden fees, predatory practices, and unclear repayment schedules.
  • Unprofessional Design and Language: Look out for grammatical errors, typos, and unprofessional design elements, which could indicate a fake app.
  • Unprofessional Communication: Be wary of apps with poor grammar, typos, or unprofessional language in their advertisements or communication.
  • Lack of Regulatory Information: Check the app’s developer information and ensure it is registered with a recognized financial authority.
  • Unlisted Lender: Check the app’s legitimacy. Verify if it is registered with the relevant authorities and listed on official databases.
  • Negative Reviews and Complaints: Research the app online to see if there are any negative reviews or complaints from other users.
Avoid Falling Prey to Fake Loan Apps
Photo Source: tfipost.com

Tips to Avoid Falling Prey to Fake Loan Apps: Stay Safe, Stay Vigilant

  • Stick to Established Lenders: Opt for loan apps from reputable financial institutions or regulated lenders with a proven track record.
  • Do Your Research: Before applying for any loan, research the app thoroughly. Read reviews, check online forums, and verify its registration details.
  • Beware of Unsolicited Offers: Do not respond to unsolicited loan offers or messages. Never click on suspicious links or download apps from unknown sources.
  • Verify App Information: Before downloading any app, research its developer, user reviews, and regulatory status.
  • Read Terms and Conditions Thoroughly: Pay close attention to the app’s terms and conditions, especially concerning interest rates, fees, and repayment schedules.
  • Never Share Sensitive Information: Do not share personal financial data like bank account details or passwords with any loan app.
  • Report Suspicious Activity: If you encounter a fake loan app, report it immediately to the relevant authorities and app store platforms.


Fake loan apps pose a significant threat to financial security and well-being. By understanding their modus operandi, practicing vigilance, and raising awareness, we can collectively combat this growing menace. Remember, financial safety is paramount. Always prioritize responsible borrowing and seek genuine financial solutions from reputable sources. Don’t let the lure of instant gratification trap you in the clutches of predatory loan apps. Choose financial prudence over quick fixes and safeguard your financial future.

Disclaimer: This article provides information for general awareness purposes only and should not be considered professional financial advice. Always consult with a qualified financial advisor before making any financial decisions.

Additional Resources:

  1. RBI Fake Loan App List: https://www.youtube.com/watch?v=p8XlWKrP5VU
  2. Cybercrime Cell:https://cybercrime.gov.in/
  3. Cybercrime Reporting Platform: https://cybercrime.gov.in/Webform/Crime_AuthoLogin.aspx
  4. Financial Awareness Initiatives: https://www.rbi.org.in/FinancialEducation/
  5. National Consumer Helpline:https://consumerhelpline.gov.in/
  6. CyberDost (Government of India’s cybercrime awareness platform): https://twitter.com/cyberdost?lang=en

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