Hi everyone today we will learn about the problem Is it a scam to borrow money online?? The risks when borrowing money online should know to have experience to avoid.
Currently, on VTV, the media often reports on fraudulent loan applications. When lending, they will lend at high interest rates exceeding 20% (according to state regulations). However, there are still many people who fall into this credit trap because they need money to settle their own business. In order not to become a "debtor", you should equip yourself with knowledge before taking out a loan. Through this article, we will take a closer look.
What is an online loan?
Borrowing money online, also known as online loans, is a way to borrow money from an unsecured loan package. Customers who need a loan will find online loan support addresses. Because the loan conditions are simple, there is no need to mortgage assets, no proof of income, no meeting, no calling relatives, etc.
That is why many people choose to borrow money online. And on the Internet today, just type the keyword "Borrow money online or installment loans” then there will be hundreds of thousands of results returned. Borrowers just need to click, then select the amount they want to borrow, enter personal information and a photo of their ID card/CCCD, after about 2 to 4 hours, they will receive the money to their bank account.
But when borrowing you should note, this type of loan has a relatively high interest rate. It can even be many times higher than unsecured loans at banks.
Thus, it can be understood in a simple way that the concept of an online loan is:
This is a quick way to borrow money in an unsecured loan package, when borrowing money without meeting, without collateral, without proving personal financial capacity. And customers are allowed to choose loan amount and receive money via bank account number.
The most popular forms of online loans today
As technology develops, so does the number of digital services that are also diverse. Currently, there are many different types of online loans online, for example:
Borrow money online through apps, financial applications
Borrowing money through the app is a way to borrow money online that does not require customers to mortgage or prove income. Loan transactions will be done through the application of a certain lending unit.
All loan operations are processed online on the application. With just a few basic steps, customers have selected the amount they want.
Loan conditions:
- Be a Vietnamese citizen aged between 18 and 20 years old and have an identity document.
- Have a smartphone, have an internet connection and have to install a loan application.
- Have a bank account number to receive money.
Some famous loan applications today:
| App name | Information | Registration |
|---|---|---|
| Tamo |
| REGISTER TAMO LOAN |
| Doctor Dong |
| REGISTER DOCTOR DOCTOR DONG |
| Senmo |
| SIGN UP FOR SENMO LOAN |
Borrow money online with ID card + household registration book
Borrowing money with ID card and household registration book is similar to the form of borrowing money through the app. But the only difference is that customers can apply for loans online or borrow directly at loan companies. Normally, banks will require an ID card and household registration book with collateral or proof of income to get a loan.
But for loan products with ID card and household registration, only these two documents are needed to get a loan. Customers who provide original photos or photocopies will be supported.
Borrow money online at financial companies
At financial companies such as Fe Credit, Home Credit, Mirea Asset, HD Saison, etc., these are the big financial companies in the market. Here you will be supported to borrow cash or installment loans, just using your identity card or citizen identification.
With loan packages at large financial companies, we are assured of transparent terms and interest rates. Not afraid of being scammed like online loans.
Borrowing money online has been scammed – Lifetime experience
Many of you have a need for a loan but do not meet the requirements to borrow at a bank. So I want to apply for a loan online, but I'm confused Is it a scam to borrow money online?? Here are some experiences from my own experience, hope it helps everyone.
The story is that I faced financial difficulties before. Then, there are online loan applications to borrow money. At first, with the thought of only borrowing a few million, it could be paid immediately on the day of receiving the salary. However, "life is not like a dream", after experiencing applying for a loan, I encountered many problems and felt inhibited.
App loans say one thing and do another
Surely, when you refer to loan applications, you will find the loan conditions quite attractive. For example, there is no service fee when borrowing money. But in reality, when you apply for a loan, the loan disbursement step. We will only receive an amount that does not match the registered limit.
When texting and calling the switchboard, they will say that these are service fees such as: application fee, consulting fee, insurance fee, etc., while at the beginning we were not told about the amounts clearly. this fee.
Loan interest rate is too high
According to state regulations in any loan contract, the interest rate cannot exceed 20%/year. But what about when borrowing money on the app? The interest rate of the loan is many times higher than the specified one. This interest rate can be up to 30-40%/year, which borrowers cannot know in advance when taking out a loan.
Moreover, when overdue for 1 to 2 days, we will be charged a 10% penalty fee for changing the payment time and an overdue penalty fee charged 150% of the original interest rate. This is the reason why many loan contracts cannot be repaid.
Attitude
At first when consulting, they have a sweet attitude, making you unable to refuse. But after applying for a loan, the opposite is true. Typically, it is not yet time to pay the debt but called and said with an insulting attitude, causing inhibitions for the borrower.
And there are many other points when we borrow money online online. So Is it a scam to borrow money online??
In addition to financial companies that support loans with clear terms, contracts, and interest rates in compliance with regulations. There will be many online loan programs like "chicken". Customers will fall into a credit trap without knowledge. Signs of fraud from online loan programs are completely real.
Therefore, during the loan process, you should be careful. Always research carefully whether the lender is reputable or not? Is there any real loan support, what are the service fees after registering.
Risks when borrowing money online
Scam to borrow money with ID card
The form of lending money with identity cards is deployed by fast money lenders. Again, this loan is not supported by the bank. When you get a loan, you only need to have your identity card to get a loan.
When participating in this form, you will face the following risks:
- Identity card/CCCD information stolen to serve fraudulent purposes.
- Get your identity card to apply for a loan at other units.
- Loan scam but forced to pay fees and did not receive the desired loan amount.
Fraud to borrow money via ATM card
Borrowing money via ATM card is a popular form of loan today. Lenders will impersonate an employee of a credit company or bank to call you to offer you a preferential loan.
To identify we can look through the following signs:
- Claiming to be a banker, a financial company, etc. and announcing that you are the lucky one to be supported with a loan.
- Automatic call to help you open a bank account and help you apply for a loan.
- Loan applications are mailed, and you will be forced to pay a premium. If not, the application will not be returned.
- Tell you to send Internet Banking account number, account number, OTP code then automatically transfer money from the account.
Scam borrowing money via Zalo & Facebook
Social networks now have many groups specializing in lending. But after you apply for a loan, you will encounter problems of being scammed.
These guys will automatically find you, text and introduce loan programs with preferential interest rates, high limits. If someone falls into a trap, they will help you make a profile and also have a real loan contract to help borrowers feel more confident. After that, a 10% advance payment or insurance fee will be required to disburse.
If you encounter such cases, you should stay away. These are all online loan scams.
What to do if you get scammed to borrow money online?
When you are scammed to borrow money online but don't know what to do? Let's take a look at the steps below to help you sue scammers. But note, when being scammed to borrow money online, it is very difficult to get back the lost money.
Step 1: Collect evidence of fraud
Please collect criminal evidence with images, audio recordings, videos, etc. about fraudulent acts. The collection of this evidence will be the basis for the authorities to use to handle violations.
Step 2: Contact the police
Once we have all the evidence, now we need to contact the switchboard of the Cybersecurity and High-Tech Crime Prevention Department at 069.219.4053. Or you can visit the website https://canhbao.ncsc.gov.vn to report.
- Hanoi City Police: 113 or fanpage https://www.facebook.com/ConganThuDo
- Ho Chi Minh City Police: 08.3864.0508
Step 3: Provide evidence
Once contacted, you report the scam you're experiencing. Then provide the collected evidence to the investigating agency. Rest assured that your identity will not be disclosed.
Step 4: The police agency investigates and prosecutes
After the crime has been confirmed during the investigation according to the people's petitions. The crime prevention agency will make records and prosecute these subjects.
Summary
Through the content of this article, we have understood Is it a scam to borrow money online?? There are many scammers online, so if you want to borrow money, be careful not to fall into these traps.
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