Online Loan Scams: How to Spot Fake Apps & Protect Your Money

• Verify the lender: Ensure it's a registered bank or NBFC; check RBI's public list.
• Beware of intrusive permissions: Legitimate apps don't need access to your contacts, photos, or messages.
• Never pay upfront fees: Genuine lenders deduct processing fees from the loan amount, not ask for prior payments.
• Read loan terms carefully: Understand interest rates, penalties, and repayment schedules before accepting.
• Stick to trusted lenders: Choose established banks or NBFCs with regulatory oversight.