Thinking about taking a loan from Timely Purse? But should you trust this app? Wait, is the Timely Purse loan app RBI-approved?
Let’s uncover the truth behind this instant loan app. As, online personal loan frauds in India is increasing day-by-day, you need to be very careful before using such apps.
Is Timely Purse Legit?
Let’s keep it straight: No, Timely Purse is NOT RBI approved.
The app shows no registration number or NBFC license anywhere. This is a major red flag for potential borrowers.
Moreover, Timely Purse isn’t available on the Google Play Store.
RBI mandates that all digital lending apps must be listed on official app stores.
So, how do people download it?
Well, this is where the app scams innocent people.
It makes users click on apk files via Facebook, Telegram channels, and sometimes targets them through WhatsApp too.
Timely Purse violates this basic requirement by distributing APK files through Facebook.
Is Timely Purse App Safe in India?
There are not one but multiple signs that indicate that the Timely Purse app is not safe.
Here are some of the major reasons:
1. No RBI Registration Number
We searched RBI’s official NBFC list.
Timely Purse does not appear anywhere. Legitimate lenders display their Certificate of Registration (CoR) number prominently.
Timely Purse has no such documentation.
2. No Official Website
According to our research, Timely Purse has no verified website.
The app exists only through a Facebook page with 4.1K members.
Users are requesting APK download links in the comments section. This indicates Timely Purse deliberately avoids official channels.
3. No Company Details
RBI-approved NBFCs must display company registration details and physical office addresses.
Timely Purse provides none of these. Who operates this app? Where is their office? These questions remain unanswered.
Timely Purse Loan App Complaints
Here are a few registered case studies that alert other users from time to time about the scam going on in the name of a loan app.
The January 2025 Victim Case
According to a documented case from January 10, 2025, a woman downloaded Timely Purse after seeing an Instagram ad.
The app accessed her entire phone data. Operators created doctored nude photos and threatened to share them with her contacts.
Her Aadhaar and PAN details were exploited for blackmail.
This happened because Timely Purse operates without RBI oversight. No regulations stop them from misusing customer data.
Rajesh Awasthi’s Facebook Warning
Rajesh Awasthi warned other users: “Total fraud…agar aap time par bhee loan clear kar rahe hai tou bhee yeh blackmail karta hai.”
He revealed that Timely Purse gives loans for just 8 days and starts blackmailing within 5 days of disbursement.
RBI-approved lenders cannot use such harassment tactics. But Timely Purse faces no regulatory consequences.
Rahul Suthar Reported About the Non-Disbursement of the Loan
The victim stated that he downloaded the app, and even after uploading documents, he didn’t receive any loan.
Thinking, if there is no loan, then how could it be risky or a scam?
Well, this is where most people relax and avoid filing a complaint.
But the truth is, the app has become riskier than before.
How?
The data and KYC details uploaded might get misused.
Imagine receiving a notice of a loan you never took or any fraudulent activity you were not involved in, but you have no proof, as your ID has been used for the same.
Sounds scary, right?
That’s why it is important to check legitimacy and always apply for a loan or other financial services only through RBI RBI-approved platform.
How to Report Loan Fraud in India?
If you’ve been victimized, check fake loans and report immediately, but first,
Gather Evidence:
- All screenshots of conversations
- Transaction receipts and bank statements
- APK file, if possible
- Call recordings if available
And then..
- File a Cyber Crime Complaint – Visit the Cyber Crime portal.
- File FIR with complete evidence
- RBI Ombudsman – Report unauthorized lending. File a complaint at rbi.org.in
Need Help?
Already trapped by Timely Purse’s fraudulent practices? Facing harassment or blackmail?
Register with us today. We’ll guide you through proper legal channels to stop the harassment and protect your rights.
Conclusion
Timely Purse is definitely NOT RBI approved. The app has no NBFC registration, no Play Store listing, and no official website. Hence, stay away from such fake apps, to avoid loan scams in India.
It operates entirely outside the regulatory framework to exploit victims through data theft and blackmail. The January 2025 case and user warnings like Rajesh Awasthi’s prove this app’s dangerous nature.
Stay away from Timely Purse completely. Your data security and financial safety are worth more than any quick loan promise.
If you need urgent funds, approach only RBI-registered lenders who operate transparently and legally. Don’t become another victim of this fraudulent operation.
