In this article, we will review the Cloud Wallet Loan App, a loan application that claims to provide loans of up to Rs 20,000 with a fast and secure process. We will examine the information available on the Play Store and other sources to determine if this app is a legitimate option for those looking for a loan.
| App Review | Information |
|---|---|
| App Name | Cloud Wallet Loan App |
| Loan Amount | ₹1,50,000 to ₹50,00,000 |
| Interest Rate | At least 35% |
| Loan Tenure | 91 days to 365 days |
| Eligibility Criteria | Indian citizen, age above 18 years, and have a source of income |
| Loan Application Process | Download the app, fill in personal information, submit the application, review the offer |
| Review | Not recommended due to alleged fraudulent activities and high processing fees |
Cloud Wallet Loan App Review
Unfortunately, after examining the available information, we must advise against using the Cloud Wallet Loan App. The app has been reported to be fraudulent, with several instances of users being scammed out of their money. The app requests processing fees and then asks for payments under the guise of verification, but does not provide any loan disbursement. As such, we cannot recommend this app to anyone seeking a loan.
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Cloud Wallet Loan App Loan Amount and Interest Rate
According to the Play Store, the Cloud Wallet Loan App offers loans of Rs 1,50,000 to Rs 50,00,000. However, given the app’s fraudulent activities, it is unclear if these loans are genuinely available or if the app is simply using this information to deceive users. Additionally, the app charges an interest rate of at least 35%, which is higher than most legitimate loan apps available in the market.
Cloud Wallet Loan App Tenure
The Cloud Wallet Loan App provides loans for a tenure of 91 to 365 days, according to the information provided on the Play Store. However, as mentioned earlier, we cannot confirm if this information is accurate or if the app provides any loans at all.
Cloud Wallet Loan App Eligibility Criteria
The eligibility criteria for the Cloud Wallet Loan App are basic and require users to be Indian citizens above 18 years of age and have a source of income. However, as the app is fraudulent, meeting the eligibility criteria does not guarantee that users will receive a loan.
Alternatives to the Cloud Wallet Loan App
While the Cloud Wallet Loan App is not a safe option for obtaining a loan, there are several legitimate loan apps available in the market. These apps have a straightforward application process, minimal documentation requirements, and quick disbursement of funds. Some popular loan apps include KreditBee, MoneyTap, and PaySense. Users should do their research and read reviews before choosing a loan app to ensure that they are using a legitimate and safe platform.
Conclusion
In conclusion, we strongly advise against using the Cloud Wallet Loan App. The app has been reported to be fraudulent, and users have lost money due to its deceptive practices. While the Play Store information may make it seem like a legitimate option, it is essential to research thoroughly and read reviews before using any loan app. Many legitimate loan apps are available in the market, and users should choose a platform carefully to ensure their safety and financial security.