In today’s digital world, loan apps are everywhere—but not all are safe.
Some are outright traps that target users during financial stress. But with just 30 seconds of attention, you can protect yourself from a predatory loan app. Here's how.
What Is a Predatory Loan App?
A predatory loan app is a digital lending platform that uses unethical practices—like extremely high interest rates, personal data abuse, and threats—to exploit borrowers. They're unregulated, unsafe, and often violate RBI norms.
5 Quick Red Flags to Watch Out For
1. No Official Website or Contact Details
Legit companies like Vizzve Finance have transparent contact info, registered addresses, and customer support. If the app only exists on the Play Store with no trace elsewhere, it's a red flag.
2. Demands for Upfront Fees
No trusted lender asks you to pay money before giving a loan. Predatory apps often demand "processing" or "file" fees upfront.
3. Unrealistic Promises or Guaranteed Approvals
“If you're 18+, you qualify for ₹1 lakh with no checks!”
That’s a scam. Responsible lenders like Vizzve conduct CIBIL checks, assess your repayment ability, and are transparent about limits.
4. No RBI Registration or NBFC Affiliation
Check if the app is linked to an RBI-registered NBFC. If not listed on the RBI site, steer clear.
5. App Permissions That Invade Your Privacy
Does it ask for contacts, gallery access, or microphone permissions? That’s data misuse. Vizzve only collects minimum required information for safe lending.
How Vizzve Finance Keeps You Safe
Registered NBFC lending partners
Transparent EMI plans
No hidden charges
No data abuse – Your privacy matters
Easy repayment, no harassment
With Vizzve, borrowing is simple, secure, and compliant with all Indian lending norms.
What to Do If You've Downloaded a Suspicious App
Uninstall it immediately
Revoke permissions from your phone settings
Report the app on Play Store
Contact cybercrime.gov.in or local authorities
Monitor your bank and wallet accounts
Final Thoughts
A few seconds of caution can save you from weeks—or even months—of financial stress. Always choose safe, verified apps like Vizzve Finance for your instant loan needs.
FAQs
Q1. How do I know if a loan app is RBI approved?
Check the RBI’s official website for a list of licensed NBFCs. If the app is not linked to any listed NBFC, it’s not safe.
Q2. What permissions should a loan app ideally ask for?
Only basic identity, PAN, and bank access—not your photos, contacts, or mic.
Q3. What if I already took a loan from a predatory app?
Stop payments, report the app to cybercrime, and speak to a lawyer or financial advisor.
Q4. Is Vizzve a secure and RBI-compliant app?
Yes, Vizzve works only with RBI-registered NBFC partners and follows all regulatory guidelines.
published on 2nd july
Publisher : SMITA
www.vizzve.com || www.vizzveservices.com
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RBI-Registered Loan Partner | 10 Lakh+ Customers | ₹600 Cr+ Disbursed.