State Bank of India cautions customers against fraudsters offering loans

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The State Bank Of India has warned the general public against impostors who are scamming people by offering fake loans from “non-existing entities” in the name of the bank and its other entities.

“BEWARE SBI CUSTOMERS! If you are contacted by SBI Loan Finance Ltd. or any such entities then be informed that these are not associated with SBI. They are giving fake loan offers in order to scam our customers,” the bank tweeted.

BEWARE SBI CUSTOMERS!

If you are contacted by SBI Loan Finance Ltd. or any such entities then be informed that these are not associated with SBI. They are giving fake loan offers in order to scam our customers pic.twitter.com/tb0rbDPs1G

— State Bank of India (@TheOfficialSBI) April 20, 2021

Online frauds have surged in the past few years and are real hazards as they defraud the common people and take their hard-earned money. The Bank announced, “It has come to our notice that certain unknown persons are attempting to defraud the general public by offering loans from non-existing entities in the name and style of SBI Loan Finance Ltd. or any such entities.”

The bank alerted the public not to remit any processing/registration fees to SBI Loan Finance Ltd or any other entity associated with it.

“State Bank of India advises all persons in need of loans to approach the nearest branch and not encourage market intermediary,” the bank said in its important announcement.

Earlier also the largest commercial bank warned customers to stay aware of online and offline banking frauds. It said that awareness can avoid innocent customers from falling into the trap of fraudsters who invent malicious ways of robbing money on an everyday basis.