Rohit, a 27-year-old from Pune, needed ₹5,000 urgently for a medical emergency. While browsing online, he came across the Apna Paisa Loan App, which promised “Instant Approval in 5 Minutes.”
Desperate for help, he downloaded the app, uploaded his PAN, Aadhaar, and selfie, and the loan got approved instantly. But within a few days, things started getting strange.
Rohit began receiving harassing calls from unknown numbers demanding repayment even before the loan’s due date. Worse, the callers had access to his phone contacts and started threatening to call his friends and family.
That’s when Rohit realized he had fallen victim to the growing menace of online personal loan frauds in India, where unregistered lending apps misuse user data and trap borrowers with illegal recovery practices.
He understood too late that he had trusted a predatory loan app that wasn’t registered with any financial authority.
Is Apna Paisa Loan App Safe?
When using or downloading any financial app, it is important to check and rectify its credibility and registration to prevent yourself from any kind of scams.
When it comes to Apna App, the platform is
- is described as being by Apna Micro Finance Bank Ltd. on the Google Play Store
- Its description says it offers: viewing account details, checking balance, managing transactions, paying bills, doing fund transfers, and utility management.
- On the App Store, it similarly describes itself as “digital banking” with savings, transfers, and loan services.
Now, the app itself is not registered with the RBI but is partnered with NBFC-certified banks.
In short, acts as a mediator between RBI-authorized banks and borrowers. But that doesn’t mean it is risk-free or completely safe.
Here are a few reports by users that claim:
- Unauthorized Data Access: The apps often request permission to access contacts, photos, and messages.
- High-Interest Rates: Few users report that it charges high interest rates in comparison to banks.
- Harassment & Blackmail: Default on even a small loan that leads to digital harassment. Also, other reports state that the app steals data and is involved in blackmail and illegal recovery practices.
- Fake RBI Registration Claims: Many falsely claim to be RBI-approved or partnered with NBFCs.
How To Check App Is Real Or Fake?
Before installing any loan app, keep these checks in mind:
- Check RBI’s Registered NBFC List: Only borrow from apps linked to RBI-registered NBFCs or banks. You can find this list on the official RBI website.
- Avoid Apps Asking for Unnecessary Permissions: A legitimate app never needs access to your gallery or contacts.
- Read Reviews on Play Store: Look for repeated complaints about harassment, data misuse, or fraud.
- Check Company Details: Genuine apps have an official website, customer care number, and registered address.
- Be Wary of Unrealistic Promises: “Instant approval” and “no documents required” are major red flags.
How to Complaint Against Online Loan App?
If you’ve been scammed or harassed by apps like Apna Paisa Loan App, here’s what to do:
- Report to RBI: Email the complaint to crcf@rbi.org.in or use the RBI Ombudsman portal.
- File a complaint in Cyber Crime: Visit the cyber crime portal, register & file your complaint.
- File an FIR: Go to your nearest police station and lodge a cyber fraud complaint.
Need Help?
Register with us and get help to report platforms like Apna Paisa Loan App and recover your losses. If you’re unsure how to report loan frauds in India, our team guides you step-by-step so you can take the right action without any confusion.
Conclusion
While the internet has made borrowing easier, it has also opened doors for scammers hiding behind fake loan apps like Apna Paisa Loan App.
And with loan app scams rising every year, staying alert becomes even more important.
That’s why awareness is your strongest defense — always verify before you borrow, check the app’s legitimacy, and remember, if it feels “too easy to be true,” it probably is.
