Loan fraud – granted high interest loan without sharing interest rate information

Name of Complainant Shubham Kumar
Date of ComplaintJune 11, 2022
Name(s) of companies complained against
Category of complaint Banking
Permanent link of complaint Right click to copy link
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Text of Complaint by Shubham Kumar:

I downloaded a app known as rupeeway as I need some money that time as I was filling KYC and other details , i thought the app will show the loan agreement with all details about interest rate , repayment period and other information before I will read all the details and agree to sanction my loan but the app approved my loan agreement and deposited 1200 money
in my account without taking my permission and asked to repay 2040 before 7 days. It’s too much interest charges for a student like me to repay and the app fooled me with their dirty tricks , at that time I instantly try to contact them with their email address to cancel the loan as i it smells fishy but they neither responded nor cancel the loan. I want to stop this fraud with any other people so I am writing this.

Image Uploaded by Shubham Kumar:

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