Gadgets Now Bureau17 Nov, 2020, 01:16PM IST
Google removes 4 Android apps offering loans in India
Google has removed digital lending applications. These apps offered users short-term credit at high interest rates. “Our Google Play Developer Policies are designed to protect users and keep them safe, and we recently expanded our Financial Services policy to help protect people from deceptive and exploitative personal loan terms. When violations are found, we take action,” a Google spokesperson told TOI. A common feature of these apps is that they have no legal entity in India. Here are the names of four such rogue apps that Google removed recently.
Offers loan amount from Rs 3,000 to Rs 1 lakh. Flexible tenure from 91 days to 365 days. Interest rate is claimed to depend on customer’s credit profile and loan.
Offers loan amount from Rs 3,000 to Rs 1 lakh. Tenure varies from 91 days to 365 days.
As per app’s description, it “offers personal loan for Indian users.” Claims to be one stop shop for all financial needs.
Snapit loan too is a personal loan app. “We create a new way for you to get personal loans,” goes the app’s description.