India’s digital lending space is booming. With just a few taps, you can get a personal loan, pay bills, or even invest. But while trusted apps like Vizzve offer convenience, the internet is also full of fake loan apps designed to scam you.
Let’s break down how to identify a genuine loan app and protect your money — the Vizzve Finance way.
🚀 Why Are Digital Loan Apps Growing?
Increased mobile penetration
Quick approvals and zero paperwork
Access for underserved users (no credit history)
Instant cash for emergencies
But growth attracts fraudsters. RBI has flagged hundreds of unregistered or illegal apps that exploit users with:
Hidden charges
Loan-sharking interest rates
Aggressive recovery tactics
Data misuse
✅ How to Spot a Legit Loan App: The Vizzve Checklist
1. RBI-Registered NBFC or Bank
Ensure the app is linked to a licensed NBFC or bank. Vizzve, for example, partners with RBI-regulated lenders.
🔎 Tip: Check the list at rbi.org.in
2. Transparent Terms & EMI Structure
A good app discloses:
Interest rate (APR)
Loan tenure
Processing fee
Total repayment amount
🛑 Red Flag: Apps that only show the disbursed amount, not the cost of borrowing.
3. No Upfront Payment or Advance Fee
Legit apps never ask you to pay in advance for verification, approval, or "processing." Vizzve charges ₹0 upfront.
4. Data Privacy & Permissions
Trustworthy apps:
Only access necessary permissions (camera, storage)
Offer clear privacy policies
Never upload your contacts, photos, or gallery to servers without consent
5. Google Play Store Ratings & Reviews
Avoid apps not listed on Play Store or iOS App Store. Look for:
4.0+ stars
Real, verified user reviews
Developer contact details
6. Customer Support & Website
Check for:
24x7 helpline or email support
Registered office address
Professional-looking website with terms & FAQs
💡 Vizzve Finance: Safe, Transparent, Trusted
At Vizzve:
All loans are via verified NBFCs
We offer real-time approval, easy tracking, and zero hidden charges
No data misuse — your privacy is our priority
EMI breakdowns are clear from day one
🔐 Tips to Stay Safe When Using Loan Apps
Never share OTPs or PAN details over WhatsApp
Don’t download APKs sent via unknown sources
Always read the app permissions before installing
Use Vizzve’s Credit Health Checker to avoid risky lenders
❓FAQs
Q1. How do I check if a loan app is RBI-approved?
Visit the RBI NBFC List and search the lender’s name.
Q2. What happens if I take a loan from a fake app?
You may face data blackmail, harassment, or illegal recovery. Report immediately to cybercrime.
Q3. Can I get a loan without a CIBIL score?
Yes. Platforms like Vizzve offer low-ticket loans for new-to-credit users, responsibly.
Q4. Do legit apps ask for UPI login or card PIN?
No. Never share UPI PINs, ATM PINs, or passwords. Legit apps use secure payment gateways only.
Published on : 19th July
Published by : SMITA
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RBI-Registered Loan Partner | 10 Lakh+ Customers | ₹600 Cr+ Disbursed