Upwards Loan App is one of the premier personal loan apps available in India, yet users have begun complaining on Google Play Store of various issues with it.
Upwards offers personal loans up to Rs 2 lakh with flexible repayment periods and minimal documentation requirements, plus online account management capabilities.
Easy to apply
The Upwards Loan app is a new mobile lending platform that makes applying for instant personal loans easy, making them popular among salaried individuals who need quick loans to cover emergency expenses. It features minimal documentation requirements and competitive interest rates; furthermore, prepayment charges do not apply!
This company provides personal loans of up to Rs 2.5 lakh to salaried individuals with credit scores over 700. These loans can be used for anything from paying off existing debts and financing major purchases to covering unexpected expenses or covering existing ones. They’re an especially great solution for people with poor credit histories – the company doesn’t even require a credit report when assessing eligibility!
Upwards loan app stands out by being an unsecured loan solution, meaning no collateral needs to be pledged against it. This makes it ideal for people with poor credit histories or who have missed out on bank loans due to late payments in the past, providing a perfect alternative to traditional banks and private lenders who typically require collateral as security against an unsecured loan.
The Upwards Loan app is easy to use and can be downloaded from the Google Play Store, though its customer care service can be slow, thus making refunds difficult if something doesn’t go as expected. Still, as it’s free, giving this an experimentation worth your while, its application process only requires essential documents to be submitted; once approved or rejected, it can take 24 hours or up to three working days before being disbursed to your bank account.
Easy to manage
Upwards Loan App is a free personal loan app that makes applying for cash loans easy, with minimal paperwork requirements and competitive interest rates, flexible repayment plans and no prepayment penalties. Furthermore, Upwards offers a transparent loan process in which all fees are clearly communicated to borrowers.
The upward Loan App should be avoided at all costs as it collects sensitive user data while falsely promising loan approval. Furthermore, their customer care has been poor, and they have even been accused of fraud; moreover, it is illegal in India and should be reported through the cybercrime website or RBI complaint portal to prevent being scammed.
Flexible repayments
When seeking out personal loans, there are various options available to you; however, some could be scams. Therefore, it’s crucial that before applying for one, you read reviews and research their reputation; also, take note of interest rates and repayment terms so as to ascertain whether the app is indeed legitimate.
Upwards is an online personal loan service offering instantaneous loans to salaried individuals in India. They provide loans up to Rs 5 lakh with flexible repayment terms and low-interest rates – they’re even registered with RBI! Plus, they use digital applications so as to reach a broad audience.
Though most loan apps are fraudulent, some do provide reliable services. Many US-based apps regulated by the Consumer Financial Protection Bureau (CFPB) offer these services, but they still pose issues for some individuals; to stay safe, it’s wise to periodically visit CFPB’s website and review its list of complaints.
Before downloading an app from the Google Play store, it’s also a good idea to read reviews on it from users and the Consumer Financial Protection Bureau (CFPB). A high proportion of negative reviews could indicate it is not safe. You should also avoid downloading apps that claim they are safe but haven’t registered with either organization.
Upwards Loan App is a scam because it collects your user and KYC data in hopes of approval, only to resell it later and generate profits for themselves. Therefore, it would be wiser to opt for another reliable app, such as Buddy Loan, which is registered with the Consumer Financial Protection Bureau instead.
High-interest rates
Be it, salaried individuals or self-employed professionals; it can be challenging to locate an affordable loan to meet your needs. Instant personal loans offer a quick and straightforward solution, but before applying, it is essential to understand the risks involved with getting one. Unfortunately, there are illegitimate apps on both the App Store and Play Store that can easily dupe unsuspecting users; fortunately, these can usually be identified through low downloads or negative reviews.
One of the most precise indicators of a fraudulent loan application requests your mobile phone number or email address; this indicates the lender wants to scam you out of money. Other signs may include unclear fees and terms, high-interest rates, and untrustworthy customer support teams.
At first glance, an app that claims to offer an unsecured personal loan with minimal documentation requirements should raise red flags. Furthermore, keep in mind that your actual loan amount may exceed what was initially quoted because loan approval depends on various factors, including age, income level, and existing debt levels.
Personal loans can provide much-needed financial support in times of emergency, yet their interest rates can often be prohibitively expensive. There are ways you can minimize these rates and find the loan that meets your needs best: compare lenders, read their terms and conditions carefully, and seek recommendations from friends or family in order to find an honest lender.
Slow customer care
Upwards is a new personal loan app that has recently gained popularity, boasting fast loans without hassles or slow customer care. Many users, however, have complained of slow customer care as well as suspicion regarding this suspicious app. Check the Google Play Store reviews to learn more.
Upwards offers personal loans to customers for various needs. As an RBI-registered NBFC, Upwards provides paperless personal loans to salaried individuals across India. Their business model resembles other unsecured lending companies such as Fullerton India and Dhani; Upwards makes its money by charging interest on its loans.
The company claims on its website to approve or deny loans within 24 hours of receiving an application and disburse loan amounts in 3-5 working days – faster than the industry average and a good option for those needing quick loans. They’re working towards decreasing processing times, which will increase approvals over time.
