Friends, everyone needs a loan at some point. However, to apply for a loan, individuals today often see advertisements on Facebook and Instagram, download applications without reading reviews and YouTube videos, and then use such applications to apply for loans, falling victim to the loan trap.
Techy Loan is a trusted platform that gives you well-researched reviews of websites and apps.
In today’s post, I will give you a review of the Wealth Snap Loan App Review, Is this application real or not, is it okay to take a loan from this app or not, you will know through this post.
Contents
What is Snap Credit – Easy, safe & fast?
Friends, Snap Credit is a lending platform launched on Jan 23, 2024, and now it has more than 1K downloads on Play Store, it claims that it gives you emergency loans.
According to this application, you may easily obtain a loan between ₹2,000 and ₹2 Lakh Rupees with flexible repayment.
Friends, the biggest claim of this application is that is an NBFC-registered company whose registered name is now Expandus Capital Limited and this application is 100% approved by RBI.
This application makes this claim; is it true or not? Read this article completely, only then you will be able to understand.
Snap Credit App Details
| Application Name | SnapCredit – Easy, safe & fast |
| Who launched | Gru Technology Private Limited |
| Loan Amount | ₹2k to ₹2Lakh |
| Interest Rat | 24%-72% per annum |
| Loan Tenure | 3 months to 5 months |
| Launched Year | Jan 23, 2024 |
| Application size | 7.5 MB approx |
| Total downloads | 1K Install |
| Rating on Play Store | No Rating |
| Real or Fake | Fake & Not Safe |
| Website | snapcreditloan.com |
| RBI Approved | Read Full |
Snap Credit Loan App Eligibility
Friends, to take a loan from the Snap Credit application, you will have to follow these eligibility criteria.
| Minimum age | 21 Years |
| Maximum age | 45 years |
| Nationality | Indian |
| Cibil Score | 600+ |
| Bank | Must Active Bank Account |
| Income | Stable |
Snap Credit Required Documents
You need all of these documents to apply for a loan through the Snap Credit Loan Application.
- Aadhar Card
- Pan Card
- Selfie
- Email Id
- Address proof
- Mobile Number
- Bank Account Details [ 3 Month ]
How to Apply for a Loan in Snap Credit
Friends, you have to follow the instructions provided by us in order to apply for a loan through the Snap Credit Loan Application.
- First of all, you have to install this app from the Google Play Store.
- After this, you have to log in to this application with your number.
- To take a loan from the application, you have to fill in your personal details in it.
- After filling in your details, you have to submit your documents for KYC.
- Once your loan application is approved, the personal loan amount will be transferred to your bank account.
Friends, however, nothing like this occurs if you borrow money through this app, a massive scam will befall you. If you fall into this trap, it will be quite difficult to escape for this reason read completely so that you can understand whether to take a loan from this application or not.
Read Also: Wealth Snap Loan App Review: [ My Review 100%]
Snap Credit App Scam
Friends, suppose, like me, you too must have seen the ad for this application on Facebook or Instagram which claims that it can easily provide you with a loan of Rs 2000 to ₹ 30000 at a low-interest rate.
And whose loan tenure is from 3 months to 5 months and its interest rate is 24% as you saw.
Friends, suppose you download this application and apply for a loan of ₹ 10,000, and your loan gets approved, then after that, a scam starts with you,
The reality is that this application gives you a loan only for 7 days and within these 7 days you have to pay 40% to 50% more interest on this loan which is more than the loan amount.
You will have to repay this loan within 7 days, along with this you will have to pay two to three times more interest, which means ₹15000 to ₹17000, and you will have to pay interest on a ₹ 10,000 Loan.
Is the Snap Credit App Safe
Friends, Snap Credit Loan App claims that it gives you loans ranging from Rs. 2k to Rs. 2Lakh in just a few minutes with fewer documents like Aadhar cards or PAN cards.
But In reality, Snap Credit is a fake application because this application is not registered with the NBFC or the RBI also gets you in trouble.
Snap Credit App Harassment
Friends, after the loan is approved and the money is credited to your account if you do not repay your loan within 7 days, then it can trouble you a lot.
For example, they will call your number daily and send you daily messages on WhatsApp and if you refuse to make the payment, they will abuse you and also threaten you that if you do not repay the loan,
Your obscene image will be created and sent to your contact list. This will irritate you completely and you may even think of committing suicide.
Yes, suicide, you must have heard about a case from Bhopal in which a person takes a loan from such an application and gets trapped in their tricks and later, fed up with it, he commits suicide along with his entire family. I have given the link, you can see it by clicking on it.
Suicide Case: Here is the Link [ Case ]
How to get out of fake Loan Apps?
Friends, you are one of those people who download the loan application form without reading the reviews and then get stuck in it. Read reviews on techyloan.com to avoid using any loan app from now on.
This will assist you in avoiding downloading any fraudulent apps. Let us now know how to stay away from these applications.
- Don’t repay: If you are trapped in such fake loan applications then do not give them money. If you give money once then they will keep charging you money again and again.
- Do Complain: If you are being harassed by these fake loan applications then you can complain to them, it is your right.
- No Reply: If you are receiving messages and calls from unknown numbers, then do not respond to those calls and messages at all.
- Off Sim: If you want to completely avoid this, then you should switch off your SIM for 7 to 8 days or break the SIM and throw it away, there is no better solution than this.
Snap Credit Loan App Review
Summary
All these details show that Snap Credit is a completely fake and scammy application. Therefore my opinion is that you should not take a loan from this application.
Conclusion
Snap Credit Loan App Review: Friends, if you have read this post till now then you must have understood that the Snap Credit App is a fake application.
Through this app, you can easily take a loan and they also add money to your account without your permission when the time of repayment comes, it can also put you in trouble.
It is up to you whether you want to take a loan from this app or not, but friends, if you liked this post then please share it with your, Friends, please leave a comment if you see any mistakes in the article.
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