- The viral message offering loans at a 2% annual interest rate with a 50% subsidy under a PM Yojana is fake.
- PIB Fact Check has confirmed that this message is a scam intended to defraud people online.
- Scammers use such messages to steal OTPs or charge processing fees, leading to financial loss.
Many types of PM Yojana are being run in India through which different benefits are provided to public. Recently, a message is being sent to people’s phones, in which it is being talked about giving loans at only 2% annual interest under PM Yojana and even 50% of loan will be waived. What is truth? Is there such a scheme or is it just a scam? Let’s know about it in detail.
Beware of Fake Loan Offers Under PM Yojana
Many people have received messages on their phones claiming that they are eligible for a loan at just 2% annual interest with a 50% subsidy under a PM Yojana. Many individuals who are interested in starting a business may have seen this message and even called the given number.
However, due to the increasing number of scams in India, it is important to be cautious. This could be a new type of scam used to target people and empty their bank accounts.
PIB Fact Check’s Findings on Fake PM Yojana Loan
When PIB Fact Check investigated this matter, they shared information on their official X account, stating that this message is fake. It is a means by which scammers can make you a victim of online fraud.
In such scams, you are lured with attractive offers. When you contact them, they ask for OTPs in the name of processing, which they then use to empty your bank account. Additionally, many fraudsters also deceive people in the name of processing fees.
How to Stay Safe From Online Loan Scams
Verify the Source
- Always verify the authenticity of loan offers, especially those offering unusually low interest rates or high subsidies.
- Check if offer is listed on the official website.
Do Not Share OTPs
- Never share your OTP (One-Time Password) with anyone, as it is a key to accessing your bank account.
Be Wary of Processing Fees
- Be cautious of requests for upfront processing fees, as legitimate loan providers usually deduct fees from loan amount.
It is crucial to be vigilant and informed to protect yourself from falling victim to such scams. Always double-check the legitimacy of any financial offer and be cautious when sharing personal or financial information online.