Beware of instant loan apps! SBI shares 6 safety tips

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The State Bank of India (SBI) has cautioned customers against instant loan apps. The country’s top lender has shared some safety tips for customers to follow in order to avoid falling into traps of instant loan apps. “Please refrain from clicking on suspicious links or giving your information to a company posing as a Bank or Financial Company. Report cybercrimes at – https://cybercrime.gov.in,” SBI tweeted on 22 November.

 

SBI shares 6 safety tips

1) Check authenticity of an app before downloading. 

2) Do not click on suspicious links.

3) It’s better to avoid using unauthorized apps that might steal your data.

4) Check the app permission settings to secure your data from getting stolen.

5) Report suspicious money lending apps to the local police authorities.

6) Visit http://bank.sbi. For all your financial needs.

Legitimate loans can be offered by banks, non-banking financial companies registered with RBI and entities which are regulated by the state governments.

Moreover, consumers should never share copies of Know Your Customer (KYC) documents with unidentified persons, unverified/unauthorised apps and should report such incidents to concerned law enforcement agencies.

From time-to-time, SBI keeps alerting its customers warning them about phishing trends and methods to safeguard them against such frauds. SBI keeps its customers informed through its official Twitter handle (@TheOfficialSBI).

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