SBI Warns Against SBI Loan Finance Ltd; Issues Alert For This Fraud Loan Company

SBI asks its customers of beware of fraudsters contacting them for loans, from a fake company.
SBI asks its customers of beware of fraudsters contacting them for loans, from a fake company.

The country’s largest commercial bank, State Bank of India (SBI) has notified its customers of rounds of fraudulent loan offerings circulating across the country, from entities like SBI Loan Finance Ltd.

SBI has tweeted about this and cautioned its customers to not fall prey to anyone contacting them from alleged sources of such sort(s), offering them with loans, as it is just another medium to scam customers.

SBI Cautions its Customers

As per an April 20, SBI’s tweet, certain unknown persons have been contacting SBI customers and offering them loans from non-existing entities like SBI Loan Finance Ltd.

Using entity names suitable with SBI’s legitimate style, customers are falling prey to such fraudulent activities.

On getting hold of such complaints, SBI has 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.”

Source: SBI Twitter

It has also posted this image, showing a clear picture of the whole scenario. The bank clarified that no entity of such a name is associated with SBI and has advised its customers to not entertain any such calls.

It has also advised all its customers in need of loans, to approach the nearest bank branches and not encourage market intermediary.

This is not the first time SBI has had to bring it to its customers’ notice of an ongoing fraudulent activity doing the rounds.

SBI is the country’s largest mortgage lender, in addition to being the largest commercial bank in terms of assets, deposits, branches, customers, and employees. 

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