Almost everyone needs an instant loan at one point or another for various reasons, and to fulfill these needs, most people nowadays prefer to take loans from online loan apps.
Online loan apps are quite popular nowadays and easy to take a loan through these apps.
One such trending loan app is the Flash Wallet app.
Here is the Flash Wallet Loan App Review (Loan Amount, Interest Rate, Processing Fees, Loan Tenure, and App Download Link).
But, is the flash wallet loan app real or fake? Let’s find out!
Table of Contents
Flash Wallet loan app review
| Feature | Details |
|---|---|
| Loan Amount | Rs 1,500 to Rs 60,000 |
| Interest Rate | Up to 33% per annum |
| Processing Fee | Rs 90 to Rs 2,000+18% GST |
| Loan Tenure | Minimum: 91 days Maximum: 120 days |
Nowadays, the Flash Wallet app is trending in India for instant personal loans, and it claims to provide quick and easy personal loans to help people with various financial needs like buying a new phone or paying bills, etc.
Flash Wallet App claims to offer personal loans from as low as Rs 1,500 to as high as Rs 60,000. Flash Wallet loan interest rates can range up to 33% per annum, and charge a one-time processing fee of between Rs 90 and Rs 2,000 plus GST of 18% on eligible loans. Flash Wallet App loan tenures range from 91 to 120 days.
For example, if you take a loan of Rs 1,000 for 91 days from the Flash Wallet app, you will have to pay Rs 81 as interest and Rs 236 as a processing fee (including 18% GST), which will be a total of Rs 1,317. The Flash Wallet loan app aims to fulfill people’s small financial needs as quickly as possible, be it buying a new phone, paying bills, etc.
Features of Flash Wallet loan app:
- Efficient loan application process on a smartphone
- Paperless and digital loan application process
- Get 24*7 access to loans anytime, anywhere
- Direct credit to your linked bank account upon approval
- Increase in loan amount as your credit score improves
- Variety of convenient loan repayment options
But does it sound real or fake?
Flash wallet loan app real or fake
Flash Wallet loan app claims to be an RBI-registered NBFC, but it is not so, Flash Wallet is a fake loan app, and this app is not even available on the Play Store.
Flash wallet loan app scams people, without any KYC and agreement, Flash wallet deposits money in the user’s bank account in a few minutes and demands double money as repayment in just 7 days.
For example, a YouTube video shows that the Flash Wallet Loan app disburses a loan amount of Rs 2500 into the applicant’s bank account without any KYC and Agreement, and only requires an Aadhaar card and a selfie for loan approval. But in return, it demands Rs 5000 as repayment in just 7 days. Flash Wallet is a scam and fake loan app.
Flash wallet loan app download link for Android (Latest Version APK)
| Flash wallet app | Latest Version APK |
|---|---|
| Version: | 1.0.2 |
| File size: | 9.51MB |
| Requires: | Android 5.0+ |
| Updated: | Nov 19, 2020 |
| Rating: | 3.40 stars – based on 12 reviews |
| Price: | Free |
Flash Wallet Loan App Eligibility Criteria:
- Must be an Indian resident
- Must be 21-56 years of age
- No credit score required
- Only Aadhaar card and selfie required
How to Apply Flash Wallet Loan Online?
The Flash Wallet app claims it offers a quick and simple loan application process and is completed within minutes. Here is a step-by-step guide:
- Install Flash Wallet Loan APK.
- Create an account using your mobile number.
- Choose the loan amount you want to apply for.
- Fill in the basic details in the application form and submit it.
- Receive a call for verification and loan approval.
- Receive the loan amount directly into your bank account.
Flash wallet loan app Customer care number
As per our research, we did not find any customer service number, email, or contact form for the Flash Wallet Loan App.
In summary –
In short, although it claims to offer instant personal loans, the Flash Wallet loan app may be fake and unsafe. No source stated that the app is registered with RBI as an NBFC. If it approves the loan, it may charge the highest interest.
Overall, according to our research, the Flash Wallet loan app appears to be a scam. It can be financially burdensome. Users are advised to avoid it to avoid potential financial loss and distress.
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