Online Loans: Your Data's Hidden Journey. Protect Your Privacy Now!

• Online loan applications collect extensive personal data beyond income, including identity, spending habits, contacts, and personal network.
• Applying through unregulated instant-loan apps is riskier than with banks/known NBFCs, as apps can be intermediaries reselling data.
• Excessive app permissions (contacts, call logs, photos) are red flags, often leading to harassment if payments are missed.
• Data is often retained and shared with partners even if a loan is rejected, resulting in spam calls and messages.
• Protect yourself by applying directly with regulated lenders, avoiding intrusive permissions, and reviewing privacy policies.

Why It Matters: Blind trust in online loan apps is dangerous; always verify lenders and protect your personal data.