kissht loan app review: real or fake? Complaints

An In-Depth Look at the Kissht Loan App

As more consumers turn to digital financial services, loan apps have become increasingly popular in India for their convenience and speed. However, not all apps can be trusted with your personal and banking information. In this comprehensive review, we’ll examine customer experiences with the Kissht Loan app to determine if it offers a legit service or could pose privacy and security risks.

Kissht Loan presents itself as a trusted lending platform, but does it deliver on that promise? By exploring features, security measures, interest rates and fees as well as real user feedback, readers can gain valuable insights into what using this app may entail. Keep reading for an unbiased assessment of what current Kissht Loan users have shared.

What is the Kissht Loan App?

To start, it’s helpful to understand exactly what the Kissht Loan app is and how it operates. According to the app details provided on Google Play:

  • Kissht is an India-based lending service available as a mobile app for Android devices. It was launched in 2022.

  • The app allows users to access personal loans ranging from Rs. 10,000 to Rs. 1,00,000 that must be repaid within 12 months.

  • Loans are disbursed directly into the user’s bank account once approved.

  • To qualify, applicants must be Indian citizens over 21 years old with valid ID documents like Aadhar and PAN cards.

  • Interest rates on loans through Kissht are estimated at 12-18% annually, with additional late fees for missed payments.

So in summary, Kissht Loan functions like many other digital lending platforms, facilitating instant personal loans to Indian residents through a simple smartphone application. But is it trustworthy? Let’s explore further.

Customer Verification and Security Practices

When entrusting personal and financial data to any app, safety and privacy should be top priorities. So how does Kissht Loan measure up in terms of customer verification and security?

According to app details, Kissht uses Aadhar and PAN information only to validate a user’s identity, not demanding additional paperwork. Loans are then disbursed directly to verified bank accounts.

In terms of security, the app claims to use industry-standard encrypted connections and not to store sensitive financial details like full bank account or card numbers. However, some reviewers have questioned whether media permissions Kissht requests could pose privacy risks if data is sold.

Overall, Kissht’s identity verification process seems sound, but limitations of app-based security versus website-based lending leave potential vulnerabilities. Openness about specific security measures like regular audits would offer reassurance.

Kissht Loan Interest Rates and Fees

When taking a loan, one of the most important considerations is always the cost. So how do Kissht Loan’s interest rates and additional charges stack up?

Official rates are listed at 12-18% annually. However, some users report rates as high as 24% or more depending on the loan amount and their credit profile.

Late or delayed payments also incur significant penalties – up to Rs. 500 per missed payment according to reviews. Other reported hidden costs include processing and pre-closure charges of 1-2% of the loan principal.

While convenience advantages digital lending, these variable, sometimes high-interest rates and additional unexplained fees lend the service more risk than reward for most users in need of affordable credit options. Borrowers deserve full rate transparency upfront.

Customer Reviews and Experiences

To get the most complete picture of using Kissht Loan, nothing compares to real user reviews and experiences shared online. So what are actual customers saying about the app?

From online forums, social media comments and app store ratings, a few consistent themes emerge in Kissht Loan feedback:

  • Positive aspects note the easy, quick online application and approval process within hours.

  • However, numerous complaints cite poor customer support that is difficult to reach, and takes days to address issues.

  • Multiple reviews allege high-pressure tactics including threats from “recovery agents” to recover dues.

  • Some felt rates and additional charges were misrepresented versus the listed terms.

  • A few reported private data or identity theft risks due to compromises, though Kissht claims no data breaches.

Overall, while convenience drew initial users, frustrations with customer service, unclear terms and in some cases even harassment seem to outweigh any value for many Kissht Loan app reviewers. Such experiences raise red flags.

Kissht Loan App – Should You Use It?

After surveying all available information on features, policies, and most importantly what current users themselves report, here are the key takeaways on whether the Kissht Loan app is ultimately recommended:

  • The concept of fast, digital personal loans fills a need but safety and trust must come first.

  • While identity verification is solid, app-based security leaves much unknown versus a dedicated website.

  • Variable, sometimes high rates and ambiguous fees provide poor transparency and value for borrowers.

  • Very troubling customer complaints of harassment plus weak support damage confidence in the company.

  • Similar or better loan options exist from established financial institutions offering full protection.

Therefore, while Kissht Loan advertises convenience, the combination of unanswered security concerns, predatory lending complaints and unusable customer service outweigh any advantage for responsible users. More reputable options exist without these risks and tradeoffs.

Considering all available open information on features and especially real user experiences, the Kissht Loan mobile app simply cannot be recommended based on the evidence. Caution is strongly advised and alternative credit sources merit consideration instead. Reliability and trust must come before speed for sensitive financial matters.

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