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.

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:

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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