Introduction
The number of financial frauds is increasing by leaps and bounds in India. According to a report of the RBI in 2025, ₹36,000 Crores of fraud have taken place in the name of an Instant Loan. So, we’re going to deliver you all the Fake Loan App List in India. The maximum number of loan apps is dangerous and brings a financial threat to your life.
They will trap you with multiple lucrative ads like “5-minute loan” or “Interest-Free Loans.” These things are mouth-watering, but with time, they’ll create harassment, data theft and fraud-type stuff. So, it’s important to get a safer financial environment to get a short-term loan. This article on the Fake Loan App List will help you get a deep idea of fraud apps and their red flags. You’ll also get a research-based Fraud Loan App List with warning signs and safer alternatives.
- Introduction
- What are Fake Loan Apps? – Threat to Digital India
- How Do They Present Themselves? – Fake Loan App List in India
- Warning Signs of Fake Loan Apps – Red Flags of Fraud Loan Apps
- Difference Between RBI-Approved Apps vs. Fake Loan Apps
- RBI Fake Loan App List 2025 – Ultimate Threat to Digital Payments
- Trending Fake Loan App List in India
- Real-Life Cases of Harassment
- Safer Alternatives to Fake Loan App List
- Protect Yourself from Fake Loan App List
- How to Report Fake Loan Apps to RBI (Sachet Portal)
- FAQs on Fake Loan App List
- Final Verdict: Fake Loan App List
What are Fake Loan Apps? – Threat to Digital India
Fake loan apps are digital applications for mobile that allow you to get a quick or instant loan. But fake loan apps do not work under the RBI or any governing body. Their main targets are students, small business owners, and middle-class people.
These loan apps trap people with hidden charges, much higher interest rates of up to 300%. They only try to make a profit by using or threatening multiple government clauses and others.
How Do They Present Themselves? – Fake Loan App List in India
They follow multiple marketing techniques, which bring them qualitative results and trap innocent people.
- Debt Trap: Offer ₹2000 to ₹50000 loans with hidden charges and up to 300% interest.
- Quick Loan Approval: Promise to disburse in just 5 minutes.
- Easy KYC: 7-day loan apps claim easy KYC with minimum documents like Aadhaar, PAN, Signature, and Selfie.
- Public Harassment: If you fail to repay, they harass, abuse and morph your photos.
- Breach of Data: These apps steal personal data, photos and information.
Warning Signs of Fake Loan Apps – Red Flags of Fraud Loan Apps
Check these parameters before using any loan app
- No CIBIL Check
- Hidden Processing Fees (up to 30%)
- Higher Interest Rate
- Short-Term Repayment (7–14 days)
- No RBI Approval
- Data Access (Gallery/Contacts)
- APK Download from third-party sites
These 6–7 signs clearly indicate a fake or fraud loan app.
Difference Between RBI-Approved Apps vs. Fake Loan Apps
| Category | RBI Approved Bank | Fake Loan Apps |
|---|---|---|
| Loan Process | Takes 1–2 days with full KYC | 5-minute instant disbursal |
| Interest Rate | 12–24% per annum | 50–100% per month |
| Approval | Regulated by RBI under NBFC norms | Operates illegally under foreign servers |
| Repayment | EMI options, 1–5 years | 7–14 days only |
| Helpline | RBI complaint support | Fake WhatsApp contacts |
RBI Fake Loan App List 2025 – Ultimate Threat to Digital Payments
If we talk about the Fake Loan App List in India, then it’ll be never-ending. Many apps have stopped operation or have been banned by the RBI.
Apps Banned by Google/RBI/NBFCs
- Insta Loan Mall – Banned due to unauthorised practice and harassment.
- Quick Money India – Suspended due to no RBI approval and APK installation.
- Fast Cash Pro – Unregulated, high-interest app.
- Rupee Speed Loan – Banned for data misuse complaints.
- Cash Master Loan – Reported for blackmailing users with morphed images.
Statistics:
- FY 2022–2023: 80 apps blocked out of 190+ complaints
- FY 2023–2024: 1800 complaints, 70+ apps banned
- FY 2024–2025: 800 complaints registered, 30 apps already banned
Trending Fake Loan App List in India
Pan-India Extortion Case
Loan recovery agents arrested for harassment. Isaki Thevar and his team ran eight fake loan apps to blackmail borrowers.
Chinese Loan App & Money Laundry Network
RBI and NBFCs banned Rupee Factory, Quick Loan, Credit Bee etc.
- They used borrower data
- Installed malware
- Practiced illegal recovery
User Complaints (Reddit Cases)
A Kerala user borrowed ₹1600 from Score Pro, repaid ₹2700 and was blackmailed with morphed photos.
Government & NBFC Regulatory Measures
- Promoting awareness via Caller Tunes & social media
- Banning Chinese loan apps rapidly
Real-Life Cases of Harassment
- Hyderabad student borrowed ₹7000, was asked to repay ₹20000 and later died by suicide.
- Pune developer booked for creating fake apps & threatening borrowers.
- Mumbai woman blackmailed with morphed photos after refusing repayment.
Fake loan apps are not only illegal lenders but digital extortion tools.
Safer Alternatives to Fake Loan App List
1. Bank Personal Loan
Apply at ICICI, Axis, SBI, HDFC for lower interest rates and secure loans.
2. NBFC Approved Loans
Tata Capital, Muthoot Finance, Bajaj Finance — all RBI-approved and trusted.
3. Salary Advance Platforms
Early Salary (Fibe) and True Balance for salaried professionals.
4. RBI Approved Digital Lenders
KreditBee, Navi, PaySense
Conclusion
I hope you loved my content on the fake loan app list. If you want 15 days Loan app list, then visit our home page.
Payal Singh is a passionate finance writer who specializes in personal loans, fintech updates, and online lending platforms. She focuses on creating clear, research-based articles that help readers make smarter financial decisions. Through her writing, Payal aims to spread awareness about genuine loan apps, RBI-approved platforms, and safe borrowing practices in India.