Pre-approved loan with an upfront processing fee
A caller offers a pre-approved loan at a low rate but needs a processing fee or insurance payment first.
Community reports: 0 · Checks that matched it in the last 30 days: 1
How it works
- A call or SMS says you have a pre-approved personal loan at a very low interest rate, with no documents and instant approval.
- After you share your details, a "loan officer" sends a sanction letter and asks for a processing fee, insurance, GST or a first EMI before release.
- Each payment leads to another charge, and the loan is never paid out.
What it looks like
Example messages. Numbers and links are masked.
Congratulations! Your pre-approved loan of Rs 5,00,000 at 6% interest is ready. No documents needed. Call 98XXXXXX10 to claim today.
Your loan is sanctioned. Pay Rs 8,500 processing fee and Rs 4,000 insurance now to get the money in 2 hours.
Red flags
- Fee to pay before the loan arrives
- Very low rate with no documents or checks
- Payment to a personal UPI ID
- Sanction letter on WhatsApp full of logos
The one question to ask
Why would a lender who is giving you money need you to pay them first?
Already paid or shared details?
Call 1930 at once and file a complaint at cybercrime.gov.in with the call details and payment receipts. Before taking any loan in future, check that the lender is on the RBI's list of regulated lenders.
1930 · cybercrime.gov.in
Also seen as
- Instant loan app that later threatens and harasses you
- Loan "on Aadhaar card only, no credit check"
- Gold or home loan offer with an "agent fee"