This process is mandated by the RBI. If your loan app does seek KYC, it may be a scam. Fraudulent instant loan apps will provide a loan agreement if you wish to take a loan. A loan agreement is a ...

Hence, borrowers end up paying high costs to get urgent funds. Potential scam: Instant loan apps are relatively new to the financial landscape. Some borrowers may fail to distinguish between a ...

Dave is another financial app that offers short-term loans. Unlike EarnIn ... Eligible members can get instant funding speeds, but cash is typically available within one to three days.

However, with the mushrooming instant loan apps it has become difficult to distinguish between legitimate lending platforms and fraudulent ones. Online scams are becoming an increasing concern ...

but instant personal loan apps have changed the lending ecosystem forever. Applicants can just download the application from Google App stores and after filling in the basic details, one can ...