List Of Online Loan Apps That Are Scamming People In Pakistan {Updated}

Many online loan apps in Pakistan are scamming hundreds of people with millions of rupees daily. They lure people by offering easy loans and trap them in their fishy net.

SECP and FBR, have recently launched a probe against these companies and have started acting against these loan apps.

But, still, many innocent people are being trapped daily by these illegal loan apps and they end up losing their hard-earned money.

We consider it our duty to inform our readers of these illegitimate lenders and save their time and money along with mental fatigue.

Here is an overview of the online loan apps that are reportedly scamming people in Pakistan. This table includes the loan apps’ names, the type of scam they are involved in, and any known consequences of using these apps.

S.No	Loan App Name	Type of Scam	Known Consequences
01	Barwaqt	High-Interest Rates, Hidden Fees	Financial loss, harassment
02	PK Loan	Unauthorized Charges	Financial loss, data misuse
03	AiCash	High-Interest Rates, Hidden Fees	Debt trap, harassment
04	Asan Qarz	Unauthorized Charges	Financial loss, data misuse
05	Udhar Paisa	High-Interest Rates, Hidden Fees	Financial loss, debt trap
06	RoboCash	Unauthorized Charges	Financial loss, data misuse
07	ZetaLoan	High-Interest Rates, Hidden Fees	Debt trap, harassment
08	Fast Loan	Unauthorized Charges	Financial loss, data misuse
09	Easy Money	High-Interest Rates, Hidden Fees	Financial loss, debt trap
10	B Cash	Unauthorized Charges	Financial loss, data misuse
11	Credit Cat	High-Interest Rates, Hidden Fees	Debt trap, harassment
12	Easy Loan	Unauthorized Charges	Financial loss, data misuse
13	Kredit	High-Interest Rates, Hidden Fees	Financial loss, harassment
14	Bonga	Unauthorized Charges	Financial loss, data misuse
15	CashBeam	High-Interest Rates, Hidden Fees	Debt trap, harassment
16	CashMate	Unauthorized Charges	Financial loss, data misuse
17	CashIt	High-Interest Rates, Hidden Fees	Financial loss, debt trap
18	Plati Loans	Unauthorized Charges	Financial loss, data misuse
19	Mrloan	High-Interest Rates, Hidden Fees	Debt trap, harassment
20	Swift Loans	Unauthorized Charges	Financial loss, data misuse
21	Fori Qarz Online Personal Loan	High-Interest Rates, Hidden Fees	Financial loss, debt trap
22	CashPro-Immediate Approval	Unauthorized Charges	Financial loss, data misuse
23	Loanclub	High-Interest Rates, Hidden Fees	Financial loss, harassment
24	HamdardLoan	Unauthorized Charges	Financial loss, data misuse
25	QuickCash	High-Interest Rates, Hidden Fees	Debt trap, harassment
26	567 Speed Loan	Unauthorized Charges	Financial loss, data misuse
27	MyCash	High-Interest Rates, Hidden Fees	Financial loss, debt trap
28	Zenn Park -Easy Instant Help	Unauthorized Charges	Financial loss, data misuse
29	Bee Cash	High-Interest Rates, Hidden Fees	Financial loss, harassment
30	Asaan Qarza- credit loans	Unauthorized Charges	Financial loss, data misuse
31	Superb Loans	High-Interest Rates, Hidden Fees	Financial loss, debt trap
32	Galaxy Loan	Unauthorized Charges	Financial loss, data misuse
33	TiCash	High-Interest Rates, Hidden Fees	Financial loss, harassment
34	LendHome	Unauthorized Charges	Financial loss, data misuse
35	Rico Box – Easy Apply Online	High-Interest Rates, Hidden Fees	Financial loss, debt trap
36	Easy Mobile Loans	Unauthorized Charges	Financial loss, data misuse
37	Yocash	High-Interest Rates, Hidden Fees	Financial loss, harassment
38	Harsha Tube – Quick Money	Unauthorized Charges	Financial loss, data misuse
39	Fair Loans	High-Interest Rates, Hidden Fees	Financial loss, debt trap
40	Loan Credit Cash	Unauthorized Charges	Financial loss, data misuse
41	Aasan Lab – Easy Apply for Money	High-Interest Rates, Hidden Fees	Financial loss, harassment
42	Rose Cash – Loan Cash	Unauthorized Charges	Financial loss, data misuse
43	FinMore- Online Credit Loans	High-Interest Rates, Hidden Fees	Financial loss, debt trap
44	BG Loan	Unauthorized Charges	Financial loss, data misuse
45	Get Welfare	High-Interest Rates, Hidden Fees	Financial loss, harassment
46	Tazza Centre – Get Money Soon	Unauthorized Charges	Financial loss, data misuse
47	UrCash	High-Interest Rates, Hidden Fees	Financial loss, debt trap
48	Whale	Unauthorized Charges	Financial loss, data misuse
49	Fori Instant Loans	High-Interest Rates, Hidden Fees	Financial loss, harassment
50	Little Cash- Mobile Loans	Unauthorized Charges	Financial loss, data misuse
51	Debit Campsite	High-Interest Rates, Hidden Fees	Financial loss, debt trap
52	Apple Qist Qarz	Unauthorized Charges	Financial loss, data misuse
53	Easy Loans Credit Fast Pay	High-Interest Rates, Hidden Fees	Financial loss, harassment
54	Sallam Loan – Online Loan App	Unauthorized Charges	Financial loss, data misuse
55	CashCredit-Online Loan money bee	High-Interest Rates, Hidden Fees	Financial loss, debt trap
56	Qarza Pocket -Personal Funds	Unauthorized Charges	Financial loss, data misuse

That being said, let’s look at the names of remaining fake apps and if you need money online then which options are safe for you.

Lastly, if you fell victim to any of these loan sharks how can you you still save yourself? Here we go!

Recommended Reading: Top 3 Loan Apps In Pakistan (5K-50K Urgent Cash) {Interest-free}

List Of Online Loan Apps That Are Scamming | Fake Loan Apps List

Table Of Contents

• List Of Online Loan Apps That Are Scamming | Fake Loan Apps List
• How Online Loan Apps Trap People In Their Scams?
• List Of Online Loan Apps That Are Involved In This Scam
  • Fake Loan Apps List 2024 | Online Loan Apps Banned List
  • How Can We Save Ourselves from Online Loan Scams
  • How to Report An Online Loan Scam in Pakistan?
  • Online Loan Apps | FAQs

How Online Loan Apps Trap People In Their Scams?

These online loan apps trap people by offering them easy money or easy loans of up to PKR 10,000 to PKR 100,000 by simply installing their apps on mobiles.

They transfer money to their Easypaisa/jazz cash accounts or directly to their bank accounts within a few minutes, for a time duration of a few weeks or a month.

They have hidden fees and conditions which are unacceptable to poor ones who apply for these online loans to meet their urgent needs.

Along with their other terms and conditions, they charge up to 200% of interest rates which are applicable for a weekly loan.

People end up buying more loans from similar or different apps to pay their loan amounts and end up losing their money, and assets to these scammers.

That’s why we have compiled a comprehensive list of these apps to save people from this fraud. So, let’s start our list!

Recommended Reading: SmartQarza Loan App-25,000 Online Urgent Loan In Pakistan (SECP Verified)

List Of Online Loan Apps That Are Involved In This Scam

Online Loan App Scam: Following is the list of top loan apps that are scamming people in Pakistan. So, beware of these apps and inform your loved ones to save their hard-earned money.

• Barwaqt
• PK Loan
• AiCash
• Asan Qarz
• Udhar Paisa
• RoboCash
• ZetaLoan
• RoboCash
• Fast Loan
• Easy Money
• B Cash
• Credit Cat
• Easy Loan
• Kredit
• Bonga
• CashBeam
• CashMate
• CashIt

Fake Loan Apps List 2024 | Online Loan Apps Banned List

Following is a complete list of 40+ loan apps blocked by the Ministry of Finance Pakistan:

• Plati Loans
• Mrloan
• Swift Loans
• Fori Qarz Online Personal Loan
• CashPro-Immediate Approval
• Loanclub
• HamdardLoan
• QuickCash
• 567 Speed Loan
• MyCash
• Zenn Park -Easy Instant Help
• Bee Cash
• Asaan Qarza- credit loans
• Superb Loans
• Galaxy Loan
• TiCash
• ZetaLoan- Easy Credit Wallet
• LendHome
• Rico Box – Easy Apply Online
• Easy Mobile Loans
• Yocash
• Harsha Tube – Quick Money
• Fair Loans
• Loan Credit Cash
• Aasan Lab – Easy Apply for Money
• Rose Cash – Loan Cash
• FinMore- Online Credit Loans
• BG Loan
• Get Welfare
• Tazza Centre – Get Money Soon
• UrCash
• Whale
• Fori Instant Loans
• Little Cash- Mobile Loans
• Debit Campsite
• Apple Qist Qarz
• Easy Loans Credit Fast Pay
• Sallam Loan – Online Loan App
• CashCredit-Online Loan money bee
• Qarza Pocket -Personal Funds

Recommended Reading: Get 25,000 Personal Loan Via Mobile | Paisayaar Urgent Cash Loan App

Here is a list of the government-approved online loan apps in Pakistan, along with other approved lending services categorized by their companies and services:

S.No	Company Name	Service Type	App Name
01	JingleCred Digital Financial Services Limited	Loan App	Paisayaar
02	Seedcred Financial Services Limited	Loan App	Barwaqt
03	4Sight Finance Services (Pvt) Limited	Loan App	Aitemaad
04	Walee Financial Services (Pvt) Limited	Loan App	Hakeem
05	Pakisnova Microfinance Company (Pvt) Limited	Loan App	Fauri Cash
06	Goldlion Financial Private Limited	Loan App	SmartQarza
07	Abhi Private LTD	Earned Wage Access (EWA)	Abhi – Your Salary Now!
08	Tez Financial Services Limited	Buy Now Pay Later (BNPL)	ZoodPay & ZoodMall
09	Cashew Financial Services Limited	B2B Financing	Muawin
10	QistBazaar Pvt Limited	Buy Now Pay Later (BNPL)	QistBazaar
11	CreditBook Financial Services Limited	B2B Financing	Tijara

How Can We Save Ourselves from Online Loan Scams

Online Loan App Scam: Loan scams can be very convincing and it’s important to take steps to protect yourself and your money. Here are some tips to avoid loan scams and protect your finances:

• Do your research: Before applying for a loan, research the lender or loan app thoroughly. Check if the lender is registered with the relevant authorities and has a good reputation. You can also read reviews and ratings from other customers to get an idea of their experience.
• Beware of upfront fees: If a lender or loan app asks for upfront fees or charges, it’s a red flag. Legitimate lenders usually deduct fees from the loan amount, and you should never have to pay any fees before receiving the loan.
• Don’t share personal or financial information: Never share your personal or financial information, such as your social security number, bank account number, or credit card details, unless you’re sure that the lender is legitimate.
• Read the terms and conditions: Before accepting a loan offer, carefully read the terms and conditions to understand the interest rates, fees, and repayment terms. If anything is unclear, ask the lender for clarification.
• Trust your instincts: If something seems too good to be true, it probably is. Trust your instincts and be cautious if a lender or loan app is making unrealistic promises or pressuring you to accept a loan.
• Seek professional advice: If you’re unsure about a loan offer or if you’re experiencing financial difficulties, it’s recommended to seek professional advice from a financial advisor or credit counselor.

By following these tips, you can protect yourself from loan scams and ensure that your finances are safe. It’s important to be vigilant and cautious when applying for loans to avoid falling victim to fraud.

How to Report An Online Loan Scam in Pakistan?

Online Loan App Scam: If you believe you have been the victim of a loan fraud or scam in Pakistan, you should report it immediately to the relevant authorities. Here are the steps you can take to report a loan fraud or scam:

1. Contact the lender or loan app: If you suspect that a lender or loan app has engaged in fraudulent activity, you should first contact them to report the issue and request a refund if necessary.
2. Contact the State Bank of Pakistan: If you are unable to resolve the issue with the lender or loan app, you can contact the State Bank of Pakistan (SBP) to report the fraud. You can do this by calling the SBP’s toll-free helpline at 0800-77000 or by submitting a complaint online through the SBP’s complaint management system.
3. File a complaint with the Federal Investigation Agency: If you believe that a loan fraud or scam is criminal in nature, you can file a complaint with the Federal Investigation Agency (FIA). You can do this by visiting your nearest FIA office and submitting a written complaint or by submitting an online complaint through the FIA’s website.
4. Contact the relevant consumer protection agency: If you believe that your rights as a consumer have been violated, you can contact the relevant consumer protection agency to report the issue. In Pakistan, the main consumer protection agency is the Pakistan Consumer Protection Council.

By reporting loan fraud or scams, you can help protect yourself and others from financial harm.

It’s important to take action quickly if you believe that you have been the victim of a fraud or scam to minimize the damage and increase the chances of recovering your money.

Recommended Reading: Online Loan Apps {New List} | Fori Loan App In Pakistan

Online Loan Apps | FAQs

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