How to Check If a Personal Loan App Can Be Trusted
Small companies that started out by making mobile apps are now offering loans in minutes with no paperwork.
Getting personal loans from banks that are allowed to do so could take a lot of time and paperwork. But many small startups that are based on mobile apps now offer loans in minutes and without any paperwork. This means that you can get millions of rupees in cash in just a few minutes. But these mobile applications that lend money have high-interest rates and can’t always be trusted as real lenders.
This is why.
Google recently got rid of about 100 personal loan apps that were unsafe for its users. People say that these apps were charging higher interest rates, collecting personal information, and using it in illegal ways.
So, the best thing to do if you want to borrow money from instant mobile apps is to check them out in person.