If an app promises you a loan in minutes, no credit checks, no documents, no waiting, your first thought might be, “Wow, that’s convenient!”
But your second thought should be, “Wait, is this even real?”
That’s the kind of confusion thousands of users are facing with the Press Money loan app.
The app is quietly making rounds in India’s personal loan space for all the wrong reasons.
Press Money Loan App
Press Money claims to be an instant personal loan provider that can disburse loans ranging from ₹5,000 to ₹5,00,000 within minutes.
On its Play Store listing, the app describes itself as being linked to an NBFC called Storrose Vyapaar Private Limited, a name supposedly registered under RBI’s guidelines.
Is Press Money Legit in India?
In India, all legal loan providers must be:
- RBI-registered NBFCs or banks, and
- Must clearly display their registration number and lending partner on the app or website.
Although it claimed to be an RBI-registered entity, the Press Money app does not provide verifiable details or transparent proof of its license.
Multiple users across SafeLoan.in and the Play Store have reported that after paying small “processing fees” or “first EMI” amounts, their loan amounts were never credited.
This is a major red flag; legitimate lenders never ask for upfront payments before disbursing loans.
Is the Press Money App Real or Fake?
The Press Money app appears fake or at least highly suspicious.
Here’s why:
- Users report being asked for “advance payments” to unlock loans.
- Poor customer support, many users claim their helpline and emails are non-functional.
- The loan was never disbursed, even after payments or approvals.
Essentially, it fits the pattern of a fake loan app that tricks users into paying small amounts, pretending to be an instant credit provider.
Is Press Money Loan App Safe?
Now, along with some unrealistic and unauthorized demands, there are a few red flags that indicate that this app is unsafe to avail loan services.
Here are some top-most:
- Asking for payment before loan approval or disbursement.
- Lack of transparent details, no registration number
- Negative user reviews about non-disbursal and fraud.
- Requests for sensitive personal data like PAN, Aadhaar, or bank details on unsecured platforms.
- Fake customer support numbers or changing contact information.
If you spot even one of these, treat it as a serious red flag.
How to Complaint Against Online Loan App?
If you’ve been scammed or suspect the app is fake:
- Collect all evidence screenshots, messages, and payment proofs.
- Report the app on Google Play (Go to the app page, click on “Flag as inappropriate”, and then report under “Fraud”).
- File a complaint in Cyber Crime.
- Inform your bank or UPI service immediately if you made a payment.
- Warn others by posting your experience online; it helps prevent future scams.
Need Help?
In case you are facing issues in reporting such loan app scams, then register with us now and get assistance in documenting and drafting complaints online.
Conclusion
In the digital age, scams have become as easy as downloading an app.
The Press Money loan app might look professional on the surface, but the numerous user complaints and demand for upfront fees make it unsafe and unreliable.
The golden rule of borrowing remains simple:
If someone asks you to pay money to get a loan, walk away.
