Fake merchant loan or credit line with a fee
A caller offers an easy business loan linked to your payment app but needs a processing fee first.
Community reports: 0
How it works
- A caller or SMS says you are pre-approved for a business loan or credit line because of your payment app or soundbox sales.
- To release it, you must pay a processing fee, insurance or GST, or share your app login and OTP for "verification".
- The fee is taken, more charges follow, and no loan ever arrives.
What it looks like
Example messages. Numbers and links are masked.
Congrats! Based on your QR sales, you are pre-approved for a Rs 5 lakh business loan at 1% interest. Pay Rs 2,999 processing fee for disbursal today. Call 98XXXXXX10.
Sir, I am calling from your payment app's loan team. Your loan is sanctioned, just share the OTP to link your account.
Red flags
- Fee before the loan is released
- Very low interest, no documents
- Fee paid to a personal UPI ID
- Asks for OTP or app login
The one question to ask
If the loan is real, why can the fee not be cut from the loan amount?
Already paid or shared details?
Call 1930 at once and file a complaint at cybercrime.gov.in with the call and payment details; if you shared an OTP, also call your bank on the number printed on your card. Before taking any loan, check that the lender is on the RBI's list of regulated lenders.
1930 · cybercrime.gov.in
Also seen as
- Instant loan app with an advance fee
- Fake government scheme loan agent
- Overdraft or credit limit increase call