Personal Loan Scams_ How to Protect Yourself

1. Personal Loan Scams: How to Protect Yourself Personal loan scams are on the rise, with fraudsters using sophisticated tactics to trick people into divulging personal information or paying fake fees. As a responsible financial services provider, Bravima Solution is committed to spreading awareness about these scams and helping you stay protected. Common Personal Loan Scams to Watch Out For 1. Upfront Fee Scams Fraudsters demand advance payments under the guise of processing fees, taxes, or insurance premiums. Once the payment is made, they disappear without providing the loan. How to Spot It: Legitimate lenders deduct fees from the loan amount and never ask for upfront payments. 2. Fake Loan Offers You receive unsolicited calls, emails, or messages offering loans with unbelievably low interest rates or guaranteed approval, regardless of your credit score. How to Spot It: Genuine lenders assess your creditworthiness and do not guarantee loans without verification. 3. Phishing Scams Fraudsters create fake websites or emails that mimic legitimate lenders to steal sensitive information like Aadhaar, PAN, or bank account details. How to Spot It: Always verify the lender's official website and avoid sharing information over unverified links. 4. Identity Theft Scams Scammers use stolen personal information to apply for loans in your name, leaving you to deal with the consequences. How to Spot It: Monitor your credit report regularly to detect unauthorized loan applications. 5. Instant Loan Apps Some unregulated apps promise quick loans but misuse your data, harass you for repayments, or charge exorbitant interest rates. How to Spot It: Use only apps verified by RBI-registered NBFCs or banks.

2. How to Protect Yourself from Personal Loan Scams 1. Choose Trusted Lenders Partner with reputable companies like Bravima Solution, which collaborates with India’s leading NBFC banks. Always check if the lender is registered with the Reserve Bank of India (RBI). 2. Verify Communication Channels Genuine lenders communicate through official channels. If you receive suspicious emails or calls, cross-check their authenticity by contacting the lender directly through their official website. 3. Be Cautious with Personal Information Never share sensitive information like your PAN, Aadhaar, or bank details with unverified individuals or platforms. 4. Avoid Advance Payments No legitimate lender asks for advance payments for processing or approval. If someone demands upfront fees, it’s a red flag. 5. Read the Fine Print Before signing any loan agreement, read the terms and conditions carefully to avoid hidden charges or unfavorable clauses. 6. Install Verified Loan Apps Download loan apps only from trusted sources like Google Play Store or Apple App Store and ensure they are linked to RBI-approved NBFCs. 7. Monitor Your Credit Report Regularly check your credit report for unauthorized loan applications or suspicious activities. 8. Report Suspicious Activities If you suspect a scam, report it immediately to cybercrime.gov.in or the RBI Ombudsman. How Bravima Solution Ensures Your Safety At Bravima Solution, we prioritize your security by: ● Partnering with RBI-Registered NBFCs: Our financial solutions are backed by the most trusted institutions in India. ● Transparent Processes: No hidden charges, upfront fees, or ambiguous terms. ● Dedicated Support: Our team is available to guide you through every step of the loan process. ● Data Protection: Advanced security measures ensure your personal information is safe.