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SBI Alert: State Bank warns customers against instant loan apps

SBI has sent an alert on Twitter where the bank has asked its customers not to click any unwitting links, as well as to stay away from fake apps.

  • DNA Web Team
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  • Jan 21, 2021, 08:08 PM IST

The State Bank of India (SBI) has issued a warning to its customers against Instant Loan Apps. SBI has sent an alert on Twitter where the bank has asked its customers not to click any unwitting links, as well as to stay away from fake apps that provide instant loans.

Customers are sent messages like "Get a loan of Rs 2 lakh in 5 minutes, here's how to get it.

" SBI has asked customers not click such links at all, otherwise they may have to clear the bank account. SBI has alerted all its customers not to click on the unauthentic link. Do not provide your details to the entity impersonating SBI or any other bank. Visit https://bank.sbi for all your financial needs. Also beware of fake instant loan apps. This may be a fraudulent attempt."

1. How you can lose all your money with just one click:

How you can lose all your money with just one click:
1/5

Customers are sent messages like "Get a loan of Rs 2 lakh in 5 minutes, here's how to get it." SBI has asked customers not click such links at all, otherwise they may have to clear the bank account. SBI has alerted all its customers not to click on the unauthentic link. Do not provide your details to the entity impersonating SBI or any other bank. Visit https://bank.sbi for all your financial needs. Also beware of fake instant loan apps. This may be a fraudulent attempt.

2. Avoid quick loan-giving apps

Avoid quick loan-giving apps
2/5

Instant Loan Apps give you a loan in 2 minutes without any paperwork. After taking the loan, people have to pay a hefty interest while repaying the loan. People borrow a lot of money and thereafter, are subjected to extortion calls. Many people have lost their own lives because of this. The Reserve Bank has also asked people to stay away from such instant apps.

3. Avoid giving information on the phone

Avoid giving information on the phone
3/5

SBI also warns people of calls made on behalf of the bank asking for personal details such as  bank account, OTP, etc. 

4. SBI explains what not to do

SBI explains what not to do
4/5

SBI, through a tweet, has given tips to avoid falling into the trap of instant loans

5. Be cautious!

Be cautious!
5/5

1. Check the terms and conditions before availing of the loan.
2. Don't click on suspicious links.
3. Check the authenticity of the app before downloading.
4. Check the terms and conditions of the offer.
5. For all your financial needs see: https://bank.sbi

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