Is there a list of RBI approved loan apps?

No, because RBI does not approve apps. What RBI publishes is a directory of digital lending apps reported by the banks and NBFCs it regulates. You will find it on rbi.org.in under Citizen's Corner. Use it to confirm which licensed lender is behind an app. A listing is not an endorsement.

How do I check if a loan app is safe or fake?

Run the five checks in this guide. Look up the lender on RBI's list, check which permissions the app wants, confirm there is a named lender with a grievance contact, make sure you get a Key Fact Statement before you borrow, and confirm the money moves directly between your bank and the lender. A fake app usually fails the first two.

Is a loan app safe if it is on the Play Store?

Safer, but not a guarantee. Google removes many fraudulent lending apps, but new ones appear daily and some slip through. Treat the store as a first filter, then run the checks above. Never install a loan app from an APK file or from a link sent on WhatsApp or SMS.

What is an NBFC, and why does it matter for a loan app?

A non-banking financial company is a lender licensed by RBI that is not a bank. Most loan apps in India are the front end for one or more NBFCs. The app collects your application; the NBFC lends the money and reports your repayments to the credit bureaus. So the NBFC, rather than the app, is what you need to check.

How do I find out if a specific app, say a "turant loan" app, is genuine?

Search the exact app name in RBI's directory of lending apps, then compare the lender named there with the lender named inside the app. If the app is not in the directory, or the lender does not match, do not use it. Check its permission list on the Play Store as well. We do not review individual apps here; the checks work for any of them.

Is there a list of trusted loan apps in India?

Not an official one. RBI publishes a directory of lending apps reported by its licensed lenders, but it is a record of who runs which app, with no ranking and no seal of trust. The practical way to find a trustworthy app is to run the five checks above on the one you are considering, starting with the lender lookup.

Does True Balance ask for my contacts?

No. The True Balance app asks for camera and location access during KYC, and for nothing from your contact list, call logs or gallery. If an app claiming to be True Balance asks for those, it is not our app. Report it through the channels listed above.

How to Spot a Fake Loan App in India: 5 Checks Before You Install

Last updated: October 2026 · By the True Balance Team

Loan app safety5 checks before you install

Quick answer: Run five checks. Look up the app's lender on RBI's official list. Refuse any app that wants your contacts, call logs or photos. Then confirm a named lender with a grievance contact, the full cost in writing, and money that moves straight between your bank account and the lender. RBI does not approve or certify apps, so ignore any app that claims it.

Check 1: the lender behind the app is on RBI's list
Check 2: it never asks for contacts, call logs or your gallery
Checks 3 to 5: a named lender, terms in writing, direct bank transfer

Search for a loan app and you will find hundreds. Some are run by licensed lenders. Some are copies built to look like them, and a few exist only to collect an "advance fee" and disappear. The fake ones often look more polished than the real ones.

Five checks, most of them under two minutes, rule out nearly every scam app. The first two matter most.

First, a myth to clear up: RBI does not "approve" loan apps

Many apps describe themselves as "RBI approved" or "RBI verified". No such label exists. The Reserve Bank of India licenses banks and non-banking finance companies (NBFCs). It does not license, approve or certify apps.

What RBI does publish is a directory of lending apps that its licensed lenders have reported as theirs. Being on that list means a licensed lender has claimed the app. It does not mean RBI has checked or endorsed it. An app that says otherwise is misleading you, and that alone is a reason to be careful.

Check 1: Look up the app's lender on RBI's official list

Every legitimate loan app in India works for a bank or an NBFC that holds an RBI licence. The app is only the shop window. The licensed lender behind it is the name you need to check.

1
Find the lender's name in the app. Look in the Play Store description, the "About" or "Partners" screen, or the loan agreement and Key Fact Statement if you have got that far.
2
Go to rbi.org.in and open Citizen's Corner. Look for the link titled "DLA's deployed by Regulated Entities", which is RBI's list of lending apps reported by licensed lenders.
3
Search for the app name. The entry shows the app, the lender it belongs to, and that lender's grievance officer.
4
Match the names. The lender named inside the app must be the lender in RBI's entry.

If the app is missing from the list, or the lender names do not match, treat it as unverified and do not go further until you can confirm the lender another way. A listing only tells you who is behind the app. It says nothing about how the app behaves, so keep going with the other checks.

Check 2: Watch what it asks permission for

This is the fastest check. Under RBI's digital lending rules, a lending app may not ask for access to your contacts, call logs, files or photos. There is no legitimate reason for a lender to read your phone book.

A genuine app will ask for your camera, microphone or location once, during KYC or sign-up and with your consent, to take your photo or confirm where you are, and that is normal. If an app wants your contact list, your call history or your gallery before it has even shown you an offer, uninstall it. Apps that harass borrowers do it by calling the friends and family they pulled from that list.

Normal: asked once, at KYC, with your consent

Camera
Microphone
Location

Never allowed for a lending app

Contacts
Call logs
Files & photos

Tip: You can see what an app wants before you install it. On the Play Store, open the listing and scroll to "Data safety". On your phone, Settings > Apps > Permissions shows what you have already granted, and lets you take it back.

Check 3: It tells you who is lending, and how to complain

A legitimate app names its lender clearly, in the app and on the store listing. It also gives you a way to reach a grievance officer, with a name, an email address and a phone number, and it points you to RBI's own complaint portal.

Scam apps do the opposite. The lender is vague or missing, the support email is a free webmail address, and there is no phone number anyone answers. If you cannot work out who you would complain to, do not borrow from it.

Check 4: You get the full cost in writing before you borrow

Before you sign anything, a genuine lender gives you a Key Fact Statement. It is a short standard summary in plain language: the loan amount, the interest rate, every fee, the total you will repay and the annual percentage rate (APR). You should also receive the loan agreement and sanction letter by email or SMS, not just on a screen inside the app.

If an app will not show you the total cost until after you have agreed, or the numbers change after "approval", treat it as a scam.

Check 5: The money moves straight between your bank account and the lender

When a real loan is paid out, it goes from the lender's account to yours. When you repay, it goes from your account to the lender's. No middle account, no "agent", no UPI ID belonging to a person.

Any app that asks you to pay an "unlocking" fee, a "processing" fee or a "security deposit" before you receive money is a fraud. A licensed lender deducts its fees from the loan or bills them with your EMI. It never asks you to pay first. Many of the "7 days loan" apps advertised online work this way: a large fee up front, a week to repay, and threats when the week is over.

Safe loan app or fake? Red flags at a glance

What you see	What it usually means
Claims to be "RBI approved"	No such label exists, so the app is misleading you.
Wants contacts, call logs or gallery access	Not allowed for lending apps, and the usual source of harassment calls later.
No lender name, or a name that is not on RBI's list	You cannot confirm who is lending until you check another way.
No grievance officer contact	Nowhere to go if things go wrong.
Asks for a fee before the loan is paid out	The most common loan app scam.
Loan terms shown only after you accept	No Key Fact Statement. The cost will surprise you.
Repayment to a personal UPI ID or a third account	The money is not going to a lender.
Advertised as a "7 days loan app"	A very short tenure with a fee taken up front is the classic advance-fee pattern.
Sent as an APK file or a WhatsApp link, not on the Play Store	Sideloaded apps skip every store check.

Treat one of these as a warning, and two or more as a reason to uninstall.

Loan app harassment: what to do if you have already installed one

Do not pay anything more. Paying rarely stops the calls and often invites new demands.
Take screenshots of the app, the messages, the call log and any payment receipts.
Report the app to RBI through its Sachet portal at sachet.rbi.org.in.
File a complaint at cybercrime.gov.in, or call the national cybercrime helpline on 1930.
Flag the listing on the Play Store.
Tell your bank if money left your account without your consent.
Take back the app's permissions, then uninstall it.

Our safety FAQ covers harassment cases in more detail, and our fraud alerts page carries current warnings.

How True Balance handles the same five checks

If you are here because you searched whether True Balance is real or fake, the right answer is to run the same five checks on us. Here is how we handle each point.

Loans on True Balance are provided by RBI-registered NBFCs, including True Credits Private Limited, and the lender is named on your loan agreement and Key Fact Statement.
The app asks for camera and location access during KYC and does not ask for your contacts, call logs or gallery.
Your loan is paid into your bank account and repaid from it.
Complaints go to a named Customer Grievance Nodal Officer, and the full escalation path, up to the RBI Ombudsman, is on our customer grievances page.

Check all of it yourself rather than taking our word for it.

Frequently Asked Questions

Related guides

Lender Disclosure: Loans are facilitated through the True Balance platform and provided by RBI-registered NBFCs, including True Credits Private Limited. Granting of credit is subject to credit approval, documentation, and verification. For detailed product terms and interest rate schedules, please visit truecredits.in/loan-products.

Being listed in RBI's DLA directory does not confer any registration, authorisation or endorsement by RBI and should not be construed or represented as such. T&C Apply.

The information available on this page reflects our understanding of applicable rules and general practice at the time of writing and is general guidance only. It is not personal advice or a guarantee of any specific outcome and your own situation may differ.