Do you want to know whether Bharat Cash Loan app is real or fake?
Bharat Cash Loan app is a loan application. This app claims to provide personal loans up to Rs 50,000. In this you can take loan at 24% APR.
This app claims to provide personal loan, home loan, education loan, credit card loan, business loan, gold loan, car loan and BK loan.
If you apply for a loan of Rs 50,000, you will get the loan at 24% APR for 12 months. After deducting processing fees + GST, you will get Rs 47,935.
The EMI of the loan will be Rs 4,728 and the total interest will be Rs 6,736. In this way, you will have to pay Rs 5,6,736 for a loan of Rs 50,000.
If your loan is between Rs 2,000 to Rs 5,00,00 and its tenure is between 3 months to 5 years then its APR will be between 16% to 39% and the process fee will be 2% to 8%.
Bharat Cash Loan app real or fake
Bharat Cash Loan app can be a Fake loan App. I will tell you many reasons so that you will understand why you should not take loan from this application.
- RBI Approved – This App is not approved by RBI, hence this App can be a Fake Loan App.
- Interest Rate – The interest rate of this app is very high which proves that it is a fake loan app.
- Review – Many people have given negative reviews about this app. Most of the people have called it a fake app.
- Ask Money – This app demands money before giving loan. Any loan app does not demand money first, this proves that it is a fake loan app.
Friends, hope you have understood whether Bharat Cash Loan app is real or fake. My advice is not to take loan from any app which is not registered with RBI.
If you want to take a loan then take it only from a trusted app. At present a lot of frauds are taking place in the name of loans. Many loan apps steal user’s data and then later blackmail them and demand more money.
In many cases, it has also come to light that many people, fed up with this loan, have even committed suicide. Fake Loan App steals the user’s data and edits his photo and threatens to defame him.
Some loan apps steal the numbers of people’s relatives from their contact list and demand money from them and also abuse a lot. My advice is that you should not take loan from any loan apps.