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Planning to take a loan online? Follow these 6 tips to avoid becoming a victim of fraud

In this digital age, all the services of the bank are at your fingertips, and you can use them on the go. In today’s time, if you want to take a loan, such as car, home, higher education, business or personal loan, for all these you do not need to visit the bank. You can apply for it from the comfort of your home or office.


However, in view of the increasing cases of cyber fraud, you also need to be very careful. Axis Bank has told about some such things, which you have to keep in mind while applying for online loan.

Do not use public Wi-Fi or computer

You can easily become a victim of cyber crime by doing online banking in public computers like cyber cafes, e-library etc. If the ‘Auto Complete’ function is turned on in your public computer, it is quite easy to steal your email ID and other financial data. Therefore, use the public system only when absolutely necessary.

If it is necessary to use a public computer, delete browsing history, cache and temp files after use. Also, after completing the transaction, always log out of the system and do not leave your laptop, desktop and tablet open.

Use only official and secure portals

There may also be many fake websites linked to your bank. This site that looks exactly like the original can do you a huge loss. So always make sure that you are using the original and official portal of the bank or lender while doing online banking. To be more secure, enter the official URL of the bank in the address bar.

Avoid clicking on links found on your email id or in text form. This can make you a victim of phishing or smishing. When the fake link found in the email is found in the form of phishing and text, it is called smishing.

Be Careful While Uploading Documents

You may need to upload certain documents like PAN, Aadhar, bank details etc while applying for the loan online. These documents contain important financial information. If you upload these documents somewhere else instead of the official website of the bank, then you may have to bear the loss.

Beware of Fake Promotional Calls

Voice recorded calls or calls from telemarketers giving loans are very common these days. Some of these may be genuine but some are fake calls to steal your data. These are called wishing. Therefore, avoid sharing your personal information in such calls.

Register your mobile number and email id with the bank

By registering your mobile number and email ID with the bank, you can get regular updates about your financial transactions. This will help you track the status of your loan application and follow up on other updates as well. In case of any discrepancy, you can immediately report the fraud to the bank.

Use a Strong Password and PIN

Always use a strong PIN and password when using Online Banking. Avoid simple and overused passwords and PINs. Along with this, keep changing it from time to time.

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