EMI and Loan Waiver Call Scam by SMS

How it looks by SMS, the red flags and what to do.

SMS scams lean on short, urgent lines and a shortened link. The message looks official because the sender name (header) is shaped to resemble a real organisation. 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 by SMS

• A sender name that resembles a bank, courier, tax or utility, or an ordinary mobile number.
• A very short message with a deadline such as "today" or "within 24 hours".
• A shortened or oddly spelled link that does not match the real website.

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 text message

• 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.
• The link domain is not the one you type yourself for that organisation.
• The message asks for an OTP, PIN, card number or password.

What to do

1. Do not pay any fee and do not send your ID photo or selfie.
2. Contact your lender through its official app or the number on your loan papers.
3. Ask your lender in writing about any scheme that applies to you.
4. Open the official app or type the official website yourself to see if there is any real notice.
5. Paste the text into a scam checker (Safeavio Sentinel can check it) before you do anything else.
6. Report the sender on the Sanchar Saathi portal (Chakshu facility) and block the number.

You can report suspicious SMS and calls on the Sanchar Saathi portal (Chakshu facility) of the Department of Telecommunications.

If money or a code is already gone

1. Call 1930 and give the payment details and call time.
2. Tell your bank on the number printed on your card or passbook.
3. Keep copies of what you sent and watch your credit reports for loans you did not take.
4. 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.

Full guide: EMI and Loan Waiver Call Scam: how it works, signs and what to do. Other channels: phone call, WhatsApp.

Questions