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State Bank of India Alerts Users: “Beware of Instant Loan App”

India’s largest bank, State Bank of India used Twitter as a medium to share a few tips for customers’ safety. Although you can find the tweet attached to this article below, I would love to give some personal insight on the topic.

State Bank of India Alerts Users: “Beware of Instant Loan App”

SBI has alerted the users to avoid falling into the traps promising rapid loans. It is also suggested that Chinese rapid lending applications are threatened to be contentious against which the Central Government is planning a number of measures. The government is trying to stop these applications to cause damage to the Indian citizens and it would like our support to accomplish the same.

As the rapid lending apps are spreading like wildfire, it is becoming a major contribution to cybercrime. They trap the borrowers into their colourful trap where they practise unethical loan extraction techniques. In addition to that, the borrowers shall also face excessive interest rates followed by a lot of stress.

Such cybercrimes shall be reported immediately to the cybercrime.gov.in so that it can protect you and your families from facing further loss.

Check this tweet by SBI and understand where you should limit yourself:

As you can see in the post, SBI has shared 6 safety tips for all the Indian Citizens out there. Please go through them all and understand what is required of you to keep yourself safe.

Conclusion

Not everything that shines is gold and some things are actually too good to be true. So, if you want a loan, do not go for a rapid one but apply to a reputed bank and get one approved with patience because there is no shortcut to success. I hope you will take care of everything explained by SBI in this tweet and keep yourself safe from fraud.

Share this article with your friends, family members and every contact person in your list so that they can be safe from such frauds.

Also Read:

Simple Steps To Transfer Your SBI Bank Account From One Branch To Another

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Komalpreet

Words help me express the unsaid and we have come a long way while walking hand in hand like that so now I write about anything and everything that ignites the spark of inspiration in me.

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