India’s digital lending space has exploded with instant loan apps promising quick cash, but SmartRupiya has caught attention for alarming user complaints, including unauthorised disbursals, exorbitant charges, and aggressive recovery tactics.
This investigation reveals whether SmartRupiya is legitimate or a trap you should avoid.
SmartRupiya App Review
The “SmartRupiya” model is an illegal digital lending app that has been copied in many instances. Such apps have been the source of nightmares for Indian borrowers.
In their advertisements, they look like fair lenders, but in reality, they extract money through inhuman methods and steal the users’ data.
As soon as you get the app, the fraud is with you. SmartRupiya, unlike real, RBI-regulated apps, insists on granting full and very risky access to your phone, that is, contacts, call records, SMS, camera, and the location of your device.
Is SmartRupiya Safe?
SmartRupiya, available on the Google Play Store, claims to be a loan intermediary partnering with DOS Lease & Finance Pvt. Ltd.
(CIN: U65910DL1993PTC052192), An NBFC registered with the RBI. However, the on-paper legitimacy doesn’t tell the complete story.
What the app promises:
- Loan amounts: ₹3,000 to ₹1,00,000
- Interest rate: Maximum 18% annually (0.05% daily)
- Tenure: 91-365 days
- “No hidden fees” claim
According to RupeeRiser’s investigative analysis, users report receiving only ₹3,360 out of a ₹5,600 loan, with ₹2,240 charged as interest for just 7 days, translating to effective rates of 30-50% for 7 days, equating to 500%+ annualised, far exceeding RBI’s 36% annual cap.
Is SmartRupiya Legit?
The question ”Is SmartRupiya legit or a scam?” is very tricky itself.
According to the most common reports, it is a fake loan app that, among other things, uses the most nasty and unlawful methods of recovery, like harassing, threatening, and stealing data of its victims.
Here are some red flags of this app:
1. Unauthorised Disbursements
Consumer complaints documented on Consumer Complaints Court consistently show users receiving loans they never requested.
Some received ₹2,400 when applications showed as “failed,” while others found money transferred while merely browsing the app.
2. Multiple Automatic Loan Upgrades
After initial repayment, verified complaints show the app automatically upgraded loans without permission, crediting additional amounts and demanding repayment, with users reporting 3-4 loans appearing that they never applied for.
3. Harassment & Blackmail
According to The News Minute’s coverage, recovery agents send morphed images and threaten to contact family members.
Hyderabad Cyber Crime Police arrested agents using loan apps to morph photos of loan customers with nude images and send them to the victims’ families and contacts on the pretext of loan collection.
4. Not on RBI’s Verified List
As per RBI’s Digital Lending Directions 2025, the Reserve Bank directed regulated entities to furnish details of their digital lending apps through the CIMS portal by June 15, 2025.
SmartRupiya is absent from RBI’s July 2025 list of 50+ compliant Digital Lending Apps, a massive red flag, as non-compliance invites bans like the 600+ apps delisted in 2023, according to RupeeRiser’s report.
SmartRupiya App Scam Cases
The app maintains a 4.5-star rating on Google Play, but RupeeRiser’s analysis notes that filtering for 1-star reviews yields over 100 similar complaints since launch, with negative feedback dominating recent posts and dozens flagging unauthorized loans and predatory terms.
Consumer Court Complaints
1. Recent Case (October 2025) from Consumer Complaints Court
“I applied for short loan. The loan amount is 5600. But only ₹3360 was credited. And repayment time was 7 days. ₹2240 was charged as interest. After accepting the payment the app automatically upgraded my loan to ₹7100.”
2. Emergency Loan Trap: Another verified complaint
“I used this app called Smart rupiya, I took a small loan for 5000. Just tonight due to emergency purposes now it is showing 3 separate loans I never asked for so many.”
3. Real complaint (October 2025)
“Mai ekdin aise hi loan app dekh rha tha to maine login Kiya mere me paise v nhi aaye oe ye log paise mang rhe hai gandi gandi photos bna k family ko bhej rhe hai Bina loan diye hi paise mang rahe hai”
(Translation: User was browsing, received no money, but started receiving payment demands with threats to send morphed photos to family).
According to multiple complaints on Consumer Complaints Court, users report incessant calls post-due date, with agents demanding immediate payment via UPI at odd hours, with no in-app chat or helpline – just automated threats.
Is SmartRupiya Real or Fake?
The verdict based on evidence:
While SmartRupiya partners with an RBI-registered NBFC on paper, RupeeRiser’s comprehensive investigation reveals that the platform exhibits multiple characteristics of predatory loan apps, including exorbitant charges, fraudulent disbursals without consent, aggressive recovery tactics, and zero customer support.
The report notes that in India, over 2,000 FIRs were filed against rogue apps in 2024 per cybercrime portal, with SmartRupiya fitting this mold.
SmartRupiya operates through:
- Hidden processing fees consume 20-40% upfront
- Interest rates exceeding 500% annually
- Unauthorized loan disbursements during “inquiries”
- Automatic loan upgrades without consent
- Contact list access misuse for harassment
- Morphed photo threats to family members
According to RBI’s Digital Lending Guidelines 2025, regulated entities must ensure transparent terms, data privacy, and proper grievance mechanisms, standards that SmartRupiya consistently fails to meet based on user complaints.
How to Complaint Against Online Loan App?
If you have encountered such loan app scams, then you need to take immediate action:
- Block Transactions – Contact your bank immediately to block unauthorized debits
- File FIR – Report to the local cybercrime police station
- Register Complaint – Report to RBI’s Sachet portal, which resolved 80% of 2024 complaints according to RupeeRiser
- File a Cyber Crime Complaint: Visit the portal where police action follows
- Document Everything – Save all messages, call logs, screenshots, and transaction records
- Consumer Court: File detailed complaints at the Consumer Complaints Court or the National Consumer Helpline.
According to RBI-approved loan apps guides, always cross-check apps against the RBI’s official NBFC list before applying.
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Conclusion
Based on extensive documentation from Consumer Complaints Court, independent investigative analysis by RupeeRiser, and patterns of user complaints, SmartRupiya exhibits predatory lending practices that make it highly risky.
According to RBI’s 2025 Digital Lending Guidelines, legitimate apps must provide transparency in fees with a Key Fact Statement (KFS), explicit consent for disbursement, and a cooling-off period to exit without penalty.
If an app violates these protections, it’s not worth the risk.
Your financial security and personal dignity are worth more than quick cash that comes with harassment, blackmail, and debt traps.
Choose verified, transparent lenders with proper grievance mechanisms.
