By Admin 
If you need early money and you do not have any mortgage property, personal loan can be an option. Personal loan is an unsecured loan, which banks or financial institutions give without any guarantee. It can be used for marriage, walking or any emergency.
how much Riski?
Taking a loan from the bank is the safest option, but if the loan is not available from there, then people turn to Fintech apps. Nowadays many apps like Kreditbee, lendingkart, Paytm, Moneytap and Groww are giving personal loans. But before taking a loan from these apps, you should take care of some things, otherwise there may be trouble later.
Take a loan from registered apps of RBI
Many fintech apps are not registered with RBI, which can cause you to have problems later. RBI has released a list, in which all registered non-banking finance companies (NBFCs) have been given. If an app does not work with a registered NBFC, avoid taking a loan from it. Many times people take loans without checking and later it is revealed that the app was fraud.
Do not trust more download apps
Some people think that if an app has been downloaded by millions of people, then it will be reliable. but it’s not like that. Google has removed more than 4,700 fake loan apps in the last two years. Surprisingly, some of these apps had more than 1 lakh downloads. According to government data, more than 1,000 complaints were filed against fake loan apps in the year 2023. Therefore, do not trust an app just by looking at downloads.
Take care of customer care
While taking a loan, check how good the customer care system of the app is. If you face any problem and do not get any customer care number or helpline on the app, then you can get caught in trouble. Many apps only have chat support, where it takes a lot of time to come. Therefore, before taking a loan, see whether the company has a functional customer care number or where is their registered office.
be careful, otherwise you will regret
It is easy to take a loan from Finntech apps, but it also has risk. If you do not take precautions, you can be a victim of more interest, hidden charges or fraud. Therefore, always take a loan from RBI-approved apps, do not go to downloads and test customers support. If possible, first try to take a loan from the bank, because there is more security and transparency.
Read also: The stormy boom seen in IT stocks, the biggest bounce in the coforge, know what is the reason