Loan App Safety & RBI Verification FAQ

True Balance operates in partnership with RBI-registered Non-Banking Financial Companies (NBFCs). Each loan is issued by a regulated NBFC partner.

In India, loan apps themselves are not directly licensed by the RBI — only banks and NBFCs are. A legitimate digital lending app must partner with at least one RBI-registered bank or NBFC. The partner's name appears on your loan agreement and Key Fact Statement. You can verify any NBFC's status on the RBI website (rbi.org.in) under "List of Regulated Entities."

True Balance partners with RBI-registered NBFCs to offer its loan products. The specific lending partner for your loan is named on your loan agreement and Key Fact Statement.

You can verify any named NBFC on the RBI website by searching the "List of Regulated Entities."

There is no such thing as an "RBI-approved" loan app. The right check is whether the app partners with an RBI-registered NBFC or bank — and you verify that NBFC on the RBI website.

Steps to verify:

1. Find the NBFC or bank name in the app's loan agreement, Key Fact Statement, or Play Store description.

2. Go to RBI's official site (rbi.org.in) → "List of Regulated Entities" → search for the partner's name.

3. If the name matches an RBI-registered entity, the app is operating legitimately.

4. You can also use RBI's Sachet portal (sachet.rbi.org.in) to verify and report unregulated entities.

Major red flags include upfront fees, requests for unnecessary permissions, lack of a verified NBFC partner, and abusive recovery behavior.

Watch out for:

- Upfront fees before disbursal — legitimate lenders never ask for advance fees

- No NBFC or bank partner named in the app or agreement

- Excessive permissions like access to contacts, photos, or messages (RBI Digital Lending Directions restrict this)

- Abusive collection practices or threats

- Unrealistic offers like "guaranteed approval with no credit check"

- Generic or foreign contact emails instead of a corporate domain

- Extremely short loan tenures with hidden charges and very high effective interest rates

Report it immediately to the RBI (via Sachet portal and reportloanapp@rbi.org.in) and to the National Cyber Crime Reporting Portal (cybercrime.gov.in).

Steps to take:

1. Document everything — save screenshots of messages, call recordings, payment receipts, and the app itself.

2. Report to RBI via sachet.rbi.org.in and email reportloanapp@rbi.org.in with evidence.

3. Report to cybercrime.gov.in for financial fraud / harassment.

4. Block and don't engage further with the harasser — paying again often invites more harassment.

5. Notify your bank if any unauthorized debits occur.

6. Contact local police if you face physical threats.

You can also share your experience publicly to warn others.

Sachet is RBI's official portal for verifying entities and reporting unauthorized financial activities, including fake loan apps and unregistered lenders.

At sachet.rbi.org.in, you can:

- Verify whether an entity is regulated by RBI

- File complaints against unregulated or unauthorized financial entities

- Get alerts about fraudulent schemes

- Access RBI advisories

It's a free, government-operated channel — use it whenever in doubt about a lender's legitimacy.

True Balance follows industry-standard security practices, the data-handling requirements set by the RBI Digital Lending Directions, and the Digital Personal Data Protection (DPDP) Act, 2023.

Data is encrypted in transit and at rest, and its usage is governed by the True Balance privacy policy. We never sell your personal data, and KYC details are shared only with our regulated NBFC partner for the purpose of loan processing. Under the DPDP Act, 2023, you are a Data Principal — you have the right to access and correct your personal data, request its erasure, and withdraw your consent at any time — subject to records we are legally required to retain (such as KYC details under applicable RBI and anti-money-laundering rules). You can read the full privacy policy and exercise these rights through the link in the website footer.

Legitimate communication from True Balance will never ask for upfront fees, OTPs over phone, or access to your unrelated personal accounts.

As a safety reference, True Balance (and any RBI-compliant lender) will never:

- Ask for advance fees, processing fees, or "security deposits" before disbursing a loan

- Request your OTP, bank password, UPI PIN, or card CVV over phone or chat

- Ask you to install screen-sharing or remote-access apps

- Threaten you, your family, or contacts during recovery

- Communicate from personal email IDs or unverified phone numbers

If you receive any such request claiming to be from True Balance, do not respond — report it through official channels.