A quick loan at the tap of a button sounds perfect when you’re short on cash, right?
That’s exactly the promise apps like Press Money Loan make: “Instant approval, easy disbursement, zero paperwork.”
But here’s the catch: not every app that looks shiny on Google Play is actually safe or RBI-approved.
Is Press Money Loan App Legit?
Essentially, as per the description given by the app itself, it states that it is a product of Storrose Vyapaar Private Limited NBFC, which is a registered NBFC (Non-Banking Financial Company) compliant with RBI guidelines.
But just this fact alone is not sufficient to guarantee safety.
Although the app might be associated with a registered entity, but involved in some fraudulent operations like: t
- Harassment of borrowers for loan repayment
- Charging high-interest rates
- Using wrong and illegal recovery practices
Press Money Loan App Review
Instead of just being a formal requirement, RBI approval is what separates a real loan provider from a scam app.
And the way the Press Money loan app behaves matches the classic pattern seen in many unregulated digital lending scams reported across India.
When a loan app is not properly regulated or its NBFC partnership is unclear or users confused, are press money loan app real or fake and often face issues like:
- Being asked to pay advance fees before loan disbursement
- Loans never getting credited even after payment
- Fake or unreachable customer support numbers
- Personal data being misused for harassment
- No accountability when fraud happens
And if you look at the Google Play Store reviews, many users have reported exactly these issues with the Press Money app. Some examples include:
- Requests for “processing charges” before loan approval
- Loan status stuck even after payment
- Money deducted but no disbursal
- No response from the app or its support team
How to Complaint Against Online Loan App?
If you believe you’ve been scammed or tricked by Press Money or a similar loan app:
1. Collect proof: Take screenshots of chats, app pages, payment receipts, and UPI IDs.
Report it immediately:
- File a Cyber Crime complaint
- Report the app directly on Google Play (“Flag as Inappropriate → Fraud”).
2. Contact your bank/UPI provider to block future transactions.
3. Spread awareness: Warn others on social media or consumer forums.
Need Help?
If you’ve lost money to a fake loan app or are being threatened by one you’re not alone.
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Conclusion
The Press Money Loan App may look convincing, but the absence of RBI approval, mounting complaints, and fee-based tactics make it a high-risk, unverified platform.
In India’s digital lending world, the rule is simple:
If an app asks you to pay money to get a loan it’s not a loan, it’s a scam.
Always double-check for RBI registration, read reviews, and never rush into loans out of urgency.
