Do you want to get loan from Easy Loan, Fori Money, Ai Cash, and Pk Loan App? Which loan app is best for you. Also how much interest you will have to pay to do. From all of these loan apps which app is safe to get loan safely. All about loan apps, we will tell you in this article. If you are going to get loan from one of each app, must read this article. Because it is your safety matter. This article can save you from many pitfalls.
So let’s get started…
Which Loan App is Best?
There are hundreds of loan apps are available on PlayStore and AppStore. You must saw their advertisement on different social media platforms. Mostly apps tells us, you can get loan without paying any kind of interest. But it is totally wrong. From these hundreds of apps, there is not even an app available that gives loan without interest. If so then what are the benefits of these apps. They always collect interest but in different forms. Some apps charge interest on the name of transaction fee, and some loan apps sends low amount on the name of transaction fee. Also some apps charge interest in the form of different ways. So, it is cleared that, there is not any app available which gives loan without interest.
Is EasyLoan, Fori Money, Ai Cash, and Pk Loan Apps are Real or Fake?
It is true that these apps gives loan to users. Also we can’t say that these apps are fake. But why these apps are dangerous for us. There are many reasons are available which makes these loan apps dangerous for us. Mostly people don’t know the disadvantages of these loan apps. You can’t imagine how these apps are fooling you.
Loan Apps Always Demand for Your CNIC, Driving License or Passport
Some people thinks that if we gives our cnic, driving license or passport to these apps, it is the right of these loan apps. But they don’t know that, these apps use their personal information. These apps ate not trusted, they can sell your personal information to agencies for the sake of money. They can easily leaks your personal information. It is very dangerous and harmful for you. You can’t imagine that how your personal information can be used. Some loan apps are made by foreign countries. They can make these apps only for stealing our personal data and information. So, the first harmful thing of these loan apps you can understand.
Premature Repayment of Loan
Every loan app gives different time cycles of returning loan. It is totally depend on a person who wants to get loan. These returning cycles are starting from 1month to 12 months. Some apps provides less then 9 months loan returning cycles. If you choose long period of returning loan, these loan apps can charged more interest according to time.
But before completing time period of returning loan, these loan apps can asked you to return loan. So, there is no option to return loan after completing time period. This is a big disadvantage of these loan apps. Mostly apps asked for returning loan before completing loan returning cycle.
High Interest Rates
If you can get loan from any of loan app like easy loan app, fori money, ai cash and pk loan app, these apps will charged you high interest rate. Mostly loan apps says that we will gives you loan without interest but they can’t gives loan without interest. So, high interest rate you have to pay if you get loan.
Does Everyone Get a Loan?
Mostly peoples get loans easily. But before taking loan, these apps collects your all personal data. They can used your data in wrong way. Loan apps sell your data to agencies for money. It is a high risk for people’s who didn’t get loan, because loan companies sell their data to different agencies which will be very harmful. But 80% people’s get loan easily from these types of loan apps.
What Happened If We Didn’t Return Loan?
Normally lending companies says that, we will take legal action if you don’t repay loan. But does that really happen? Only registered loan apps can takes legal action. Unregistered companies didn’t get any legal action against us. These people say this to scare us. Out of 80% loan apps which are available on PlayStore and AppStore are unregistered. So, if you get loan from an unregistered loan app, they don’t take legal action against you. But, these people will threaten you.So keep in mind that only registered companies can take legal action against you. Unregistered loan apps can only threaten you.
Should We Borrow From Lending Apps?
In simple words we can say that, the loan apps which are available on PlayStore and AppStore, 80% from these apps are unsafe. Only Bank Apps which gives loan are real and trusted. If you really need to get loan, you can borrow from Banking Apps. These banking loan apps are safe for us. They are responsible for our personal data and information. If something happened wrong with us we can take action against these banks. Because Banks are registered from centeral bank.
So, it is recommended that, don’t get loan from new loan apps. Borrowing loan from these loan apps is unsafe for you. If you really need to get loan, go to Online Banking Apps which gives loan.
Instead of borrowing loan from loan apps you can go for online earning. In this technological era, there are lot of ways to earn money online.
If you want to Earn Money Online From Mobile Without Investment, kindly check out our article about real Online Earning. We will gives you 5 real online earning apps. It is very easy to earn money online from these online earning apps. Also if you want to do your online business from your mobile. You can do it easily from apps like Zarya App. Also check this article for doing your online business.
Thanks for Reading this Article. 😊