You needed an urgent loan, and without checking details, you just applied for the instant loan using the mobile app. You received instant cash in your loan account,t and now things have gone south. The loan provider is charging you hefty interest rate, or harassing you with endless class, or threatening to leak your personal data.
No doubt, any of this is scary and can lead to financial and emotional distress.
But instead of getting pain,c it is the time to fight back. Below are the ways how to file a complaint against an online loan app.
When Should You File a Complaint?
Now, instant loan apps are there to provide you with hassle free loan services. However, with the increasing demand, scammers have found a way to exploit demands for their benefit.
They created clone apps or started looting people by charging hefty interest rates.
People in need sometimes skip checking all the details and eventually end up losing their money. But again, before you report the fraud, it is essential to check whether it is a shady app or the real one.
You can use the following tips to identify fake loan apps and take immediate action to report the.
- Hidden charges & crazy high interest that weren’t mentioned before
- Threats of calls, harassment, or blackmail over repayment
- Access to your contacts & personal data being misused
- No clear loan agreement or terms
- App not registered with RBI (which means it’s likely illegal)
If you’re dealing with any of this, don’t ignore it and report it!
How to File a Complaint Against a Loan App In India?
There are multiple ways and platforms where you can report online loan frauds in India. But make sure that you downloaded authenticate app for the same.
Now for, check whether the app is registered with Non-Banking Financial Companies (NBFC), that are regulated by RBI.
In case it is registered, follow the steps below:
Step 1: Complain to the Loan App & Its NBFC Partner
Before getting into the lengthy process, try to get it done easily by reporting it to the NBFC partner of the bank.
You can directly report the complaint by contacting their customer care and raising a formal complaint by providing all the necessary details.
In case you don’t get any assistance or hope of resolution, you can move to the next step.
Step 2: Report to RBI’s Sachet Portal
If the loan app is backed by an NBFC but is violating RBI rules, complain directly to RBI.
Go to RBI Sachet Webiste.
To register the complaint, submit the loan agreement, screenshots of chats/emails, and proof of harassment (if any).
RBI takes such complaints seriously, so this can put pressure on them.
Step 3: File a Cyber Crime Complaint
If the app is not registered with NBFC and the loan provider harasses you, leaks your data, or blackmails you, report it as a cybercrime.
For this, go to the cybercrime portal.
Register by entering your details and further report the complaint by entering all the necessary details.
You can also file a police complaint if the harassment is extreme.
Step 5: Complain to SEBI
If the loan app offered any of the investment schemes, file a complaint with:
SEBI SCORES by registering and giving details of the fraud.
Make sure you upload all the necessary proofs to support your complaint.
How to Protect Yourself from Loan App Scams?
Recognizing the fake apps or shady loan apps is quite difficult, but a few checkpoints can help you and protect you from falling into the trap.
- Only borrow from RBI-registered lenders (check the RBI website)
- Don’t share personal data with random apps
- Read the terms carefully before taking a loan
- Avoid apps that ask for unnecessary permissions (contacts, photos, etc.)
Conclusion
Scammy loan apps survive because people don’t report them.
If you’ve been a victim, don’t stay silent—file a complaint and warn others.
In case, you have been a victim of any such scam, learn how to report online frauds in India and get complete assistance from our team.
