Although people do business to run their livelihood, there are many occasions when people need more and more money. Like- buying a house, getting married, doing higher education, buying a vehicle, etc. That's why people look towards taking loans, for which they have to go to the bank. But it also happens with many people that their CIBIL score is low or their documents are incomplete, due to which the bank is not able to give them a loan. But you will be surprised to know that most of the fraud cases come up with such people. Therefore, if you are also going to take a loan, then it becomes important for you to know how can you be cheated in the name of getting a home loan even after having incomplete documents or having a low CIBIL score. So let's know about this...

Cheating happens in these 3 ways: -
Number 1
First of all, fraudsters contact such people whose loan has been rejected by the bank, whose documents are incomplete or not, whose CIBIL score is low, etc. Fraudsters contact you by extracting your mobile number through cyber hacking.

Number 2
After this, you are informed by calling that you can get the loan. To make you believe, fraudsters give you Principal Sanction Letter ie Eligibility Letter, which is actually fake. This gives people confidence in them and they give their nod for the further process.

Number 3
Then there is verification at your house to show or this verification is done on call also, money is taken in the name of various charges. After this, you are asked for blank checks of the date ahead of you in the name of final approval and then money is withdrawn from your account through these checks. At the same time, by the time you understand that you have become a victim of fraud, it is too late.

Never forget these things:-
If anyone is talking about giving you a loan from the bank at a low-interest rate, then be careful, it can be a scam.
If your CIBIL score is less than 650, someone is asking you to get a loan, then be alerted immediately. Otherwise, you may be cheated
If someone is providing a loan without documents or having incomplete documents, then understand that you may be cheated.

(PC: freepik)