New Delhi, Nov. 17 -- Those who are short of funds and planning to raise a personal loan are recommended to keep predatory loan apps at bay. Although the problem of illegal loan apps is not prevalent anymore after Google banned over 4,700 illegal loan apps between 2021 to 2023, there are still some loan apps which levy a hidden fee, charge exorbitant interest, and deploy predatory ways to recover dues.

In fact, early last year, Zerodha's Nithin Kamath, through his social media posts, highlighted the menace of loan lending apps harassing borrowers who are made to pay far more than the borrowed amount.

He pointed out that the loan apps which seek access to contacts, images, and messages are a big red flag. While comparing them to old scho...