Getting loans from fintech apps? Here's how to protect yourself from frauds

Scamming lenders usually put borrowers under pressure to apply for a loan by giving them deadlines.

New Delhi: Fintech apps has transformed the lending and payment landscape in India in recent years. In terms of lending firms, the industry has seen amazing expansion, making loans more accessible to customers. These loan organisations, which are rife with chances, have drawn both investors and scammers.

While digital lending offers the potential to make financial goods more accessible, efficient, and inclusive than traditional banks, clients should be informed of the hazards associated with such endeavours. Borrowers who have a basic understanding of digital loans and the lending procedure will be better protected from fraud.

Before relying on fintechs for loans, a lender should consider the following factors: