| Name of Complainant | |
| Date of Complaint | June 13, 2025 |
| Name(s) of companies complained against | Creditlens |
| Category of complaint | Banking |
| Permanent link of complaint | Right click to copy link |
| Share your complaint on social media for wider reach | |
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I am writing to lodge a formal complaint against the loan service provider “CreditLens”, regarding unethical and unauthorized lending practices.
On 13/06/2025, I applied for a loan through the Credit Lens platform and received a total loan amount of ₹15,000, disbursed as three separate amounts of ₹9,000 each. However, I was shocked to learn that the repayment deadline was set as 19/06/2025, resulting in an exorbitant daily interest rate of approximately ₹400 per day, which is extremely unreasonable and exploitative.
Furthermore, I noticed that once a loan is repaid, the platform automatically sanctions and disburses another loan without my knowledge or consent. This automatic re-loaning process is highly unethical and financially burdensome. Despite my intention to close the loan permanently, the app continues to trap me in a cycle of debt.
I request the concerned authorities to kindly investigate this matter and take strict action against such practices. I demand that:
My existing loan be closed permanently once repayment is made.
No further loans should be automatically taken or sanctioned on my behalf.
Appropriate penalties and warnings be issued to the platform for such malpractice.
Please treat this complaint with urgency and take the necessary steps to protect consumers like me from such financial exploitation.
Thanking you in advance.
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