People are often cheated in the name of loans, nowadays people are robbed by taking processing fees in the name of giving cheap interest rate loans, know how to avoid fraud.
- Nowadays people are cheated in the name of loan
- Extortion of money by saying that you will get a loan at a cheap interest rate
- The loan section charges a processing fee by sending the letter
Nowadays people’s life has started to be on installments and loans, now even the smallest things are getting on loan, electric items, vehicles, houses, mobiles and many other things are available on loan. Then many people take cash loan on the need of money. Cash loans are also called personal loans. It can also be called an unsecured loan.
Easy to get loan
Today, when you can get a loan even in a click of your phone, many scammers are also increasing in the market by taking advantage of this thing. Nowadays, many people must be receiving spam calls from time to time asking for loans, credit cards etc. Some are genuinely calling for these loans but in all these there are also many phone calls that have called to cheat you.
How does the scam happen?
When you get any spam calls, you will be told that your loan has been approved at a very cheap interest rate. They will ask you to send the required documents, after all this will reach them, they will get your KYC information (Paan Card, Aadhaar Card), bank details from the bank statement and ask you to pay the processing fee or insurance fee. A PDF of all this is also sent to you in which your name, address, bank details, loan details and rules are also written. In which many people get trapped and pay those fees, after which those scammers disappear.
Things to keep in mind
Whenever you get a call without a loan application, understand that maybe scammers are calling you or when they give a loan at a cheap interest rate or zero interest, understand that you are going to be scammed.