Beware of Instant Loan Apps! SBI shares 6 safety tips

The State Bank of India (SBI) has warned customers against instant loan apps. The country’s leading lender has shared some safety tips that customers should follow in order to avoid falling into instant loan app traps. “Please refrain from clicking on any suspicious links or giving your information to any company posing as a bank or financial company. Report cyber crimes at –,” the SBI tweeted on November 22.

SBI shares 6 safety tips

1) Check the authenticity of an application before downloading it.

2) Do not click on suspicious links.

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

4) Check app permission settings to protect your data from theft.

5) Report suspicious money lending apps to local law enforcement.

6) Visit For all your financial needs.

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

Additionally, consumers should never share copies of Know Your Customer (KYC) documents with unidentified, unverified/unauthorized applications and should report such incidents to relevant law enforcement agencies.

From time to time, SBI continues to alert its customers notifying them of phishing trends and methods to protect them from such fraud. SBI keeps its customers informed via its official Twitter account (@TheOfficialSBI).

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