Digital lenders: convenience, cost and the RBI rules protecting you
App-based credit is fast. RBI's digital lending guidelines set out what a legitimate lender must disclose.
4 min read
What you need to know
Under RBI's digital lending framework, all disbursement and repayment must flow directly between your bank account and the regulated lender — never through a lending service provider's pool account. You must receive a Key Fact Statement showing the all-inclusive Annual Percentage Rate before you accept.
If an app cannot name the RBI-regulated entity behind the loan, or asks for contacts and gallery access, walk away.
Continue your research
Use this guide alongside our product details and eligibility criteria before choosing a lender.
Frequently asked questions
What is the main takeaway from “Digital lenders: convenience, cost and the RBI rules protecting you”?
App-based credit is fast. RBI's digital lending guidelines set out what a legitimate lender must disclose.
What should I check before acting on this loan basics guide?
Review the practical points in the guide against your income, obligations, documents and lender requirements.
Can the information in this guide guarantee loan approval?
No. It is general educational information. A bank or NBFC makes the final decision after checking your credit profile, repayment capacity, documents and the applicable product policy.
How can iFINTRUST help after I read this guide?
An iFINTRUST advisor can review your requirement, explain the documents normally requested and help you compare suitable lending options before you apply.