EMI and Loan Waiver Call Scam over the phone
How it looks over the phone, the red flags and what to do.
Callers pretend to be bank staff, police, a courier, a telecom officer or a relative, and they try to keep you on the line while you act. EMI and Loan Waiver Call Scam is one of the ways this shows up: A caller promises to waive your EMI, interest or part of your loan if you pay a fee or share an OTP. The waiver does not exist.
What emi and loan waiver call scam looks like over the phone
- Being told to stay on the line and not to tell your family.
- Instructions to install a screen-sharing app or to press keys on the phone.
- A second "senior officer" who takes over the call.
The scammer knows that borrowers are worried about repayments, so they start with sympathy. They may know your bank name or loan type, because many people post about loans or fill forms on unsafe sites. They claim that a waiver has been announced for your loan type and that you can register by phone today with a small fee.
Red flags to check on the phone call
- A caller offers to waive your loan or EMI by phone.
- A fee is asked before the waiver is done.
- You are asked to send an ID photo, selfie or OTP.
- The caller says the offer closes today.
- You are told to keep the call secret.
- The caller wants you to install an app to "fix" something.
What to do
- Do not pay any fee and do not send your ID photo or selfie.
- Contact your lender through its official app or the number on your loan papers.
- Ask your lender in writing about any scheme that applies to you.
- Hang up. A real bank or office will not mind that you call them back.
- Call the bank or office on the number printed on your card, bill or official app, not on a number the caller gave.
- Never share an OTP or PIN. No genuine staff member needs it.
Report the number on the Sanchar Saathi portal (Chakshu facility). If money moved, call 1930 immediately.
If money or a code is already gone
- Call 1930 and give the payment details and call time.
- Tell your bank on the number printed on your card or passbook.
- Keep copies of what you sent and watch your credit reports for loans you did not take.
- Report at https://cybercrime.gov.in with the chat and screenshots.
National Cyber Crime Helpline: 1930; report at cybercrime.gov.in.
Safeavio's scam check reviews messages you paste, such as a WhatsApp form request, and shows reasons like advance fees and urgency, while Money Shield asks you to verify before paying anyone. It cannot tell whether a loan scheme exists, so ask your lender through the official app, the branch or the number on your loan papers. Ask your lender. Use your lender's app.
Check it before you tap or pay
Safeavio Sentinel is a made-in-India Android app: paste a message or link, or scan a QR code, and get a plain verdict with the reasons. It helps you spot a scam; it does not promise to stop every one.
Download for AndroidWhat the app does
Google Play listing: coming soon. Today the signed APK is on safeavio.com/download. Android 7.0 or later.
Full guide: EMI and Loan Waiver Call Scam: how it works, signs and what to do. Other channels: WhatsApp, SMS.
Questions
How do I know if a phone call about emi and loan waiver call scam is a scam?
Check the red flags above: the caller asks for an otp, upi pin, card pin or cvv. you are told that a case, arrest, block or penalty is coming within minutes. When in doubt, do not act on the phone call; open the official app or website yourself or call the number printed on your card or bill.
What should I do first if I receive this phone call?
Hang up. A real bank or office will not mind that you call them back. Call the bank or office on the number printed on your card, bill or official app, not on a number the caller gave.