How to Spot a Fake Loan App or Advance-Fee Fraud

Red flags

• "Pay a processing fee first and the loan is guaranteed."
• Requests for your OTP, UPI PIN or card CVV on a call.
• Payment links to personal UPI IDs or unknown accounts.
• No lender name, no Key Fact Statement, no loan agreement.
• Apps asking for access to your contacts and photos.

How genuine digital lending works

Under the RBI's digital lending rules, the loan is given by an RBI-regulated bank or NBFC. You get a Key Fact Statement showing interest, fees, APR and the due date before you accept, and the money goes straight to your bank account. Repayment goes straight to the lender.

What to do if you are targeted

1. Stop all payments immediately.
2. Call the cyber crime helpline 1930 or report on cybercrime.gov.in.
3. Report the app or company on the RBI's Sachet portal.
4. Inform your bank to block cards or UPI if you shared details.

FAQs

Does BrightDhan ever charge an advance fee? Never. If anyone uses our name to ask for money, call us on +91 85957 02470.