8 Ways To Verify A Legitimate Lender

Aaron Varghese Charly

Regulatory Compliance

Confirm the lender's registration status with RBI. All lenders, including Non-Banking Financial Companies (NBFCs), must be registered with RBI.

Registered Lender

Genuine Information

Ensure that information, like the lender's Company Identification Number (CIN) and Certificate of Registration (CoR) with RBI, is visible on its website.

Key Information


Check the lender's reputation online like reviews and comments left by clients on discussion boards, websites, social media, etc.


Consumer Support

Genuine lenders often have a grievance redressal process and a physical address.

Consumer Feedback

Website Security

Check for appropriate security measures like "https://" in the website URL or a lock icon indicating encryption.

Website Protection

Privacy Policy

Beware of fraudulent loan apps that may seek excessive app permissions; review their privacy policy to protect your data.

Private Information


Check whether the lender's website or mobile app provides clear information regarding products, terms, interest rates, fees, etc.

Transparent Communication

RBI Guidelines

Know your rights to give or deny consent over the use of information. RBI guidelines allow borrowers to restrict, retain, or revoke disclosure.

Compiled by Himani Verma.

Consent to use Information