Ram FinCorp Review: Real or Fake?

In the digital age, instant loan apps like Ram FinCorp promise quick financial relief, offering personal loans within minutes. Operating as the online platform of R.K. Bansal Finance Pvt. Ltd., a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India (RBI), Ram FinCorp targets salaried professionals needing urgent funds. However, numerous user complaints about high interest rates, harassment, and questionable practices have raised red flags. This review explores Ram FinCorp’s features, benefits, drawbacks, and legitimacy to determine if it’s a trustworthy option or a potential scam.

Features of Ram FinCorp

Ram FinCorp, accessible via ramfincorp.com, offers the following features:

• Instant Loan Disbursal: Provides short-term personal loans up to ₹1,00,000, credited within 30 minutes upon basic KYC verification.
• Digital Application Process: Fully online loan applications, eliminating physical interactions, with a user-friendly interface.
• Flexible Loan Terms: Offers payday loans for salaried individuals, with repayment periods typically ranging from 7 to 30 days.
• Partnership with NBFC: Operates as a digital platform for R.K. Bansal Finance Pvt. Ltd., an RBI-registered NBFC (Registration Number: B-14.00700).

Pros of Ram FinCorp

• Quick Access to Funds: Ideal for emergencies, with loans disbursed rapidly after approval (Ram FinCorp).
• Minimal Documentation: Requires only basic KYC details, making it accessible for those with limited credit history.
• RBI-Registered Backing: Affiliation with R.K. Bansal Finance Pvt. Ltd., a legitimate NBFC, adds a layer of credibility.
• Wide Reach: Operates in seven states with a head office in Delhi, catering to a broad audience (Internshala).

Cons of Ram FinCorp

• High Interest Rates: Users report interest rates as high as 35% per month, significantly above industry standards (Trustpilot).
• Harassment Complaints: Multiple reports of aggressive collection tactics, including daily calls (up to 35) and threatening messages (Consumer Complaints).
• Withdrawal Issues: Users claim difficulties accessing funds or repaying loans without excessive penalties, such as a ₹5,000 charge on a ₹7,000 loan.
• Data Privacy Risks: Allegations of unauthorized data access from users’ devices, raising security concerns.
• Lack of Transparency: Limited information about loan terms and fees upfront, leading to unexpected charges.

Legit or Scam?

Ram FinCorp is legitimate in the sense that it is a real platform operated by R.K. Bansal Finance Pvt. Ltd., an NBFC registered with the RBI since 1984 (CIN: U74110DL1984PTC019355). The company complies with RBI guidelines as a non-deposit-accepting NBFC, and its operations are supported by platforms like Bajaj Finserv and Paytm for loan repayments (Bajaj Finserv). However, its practices raise concerns that border on scam-like behavior:

• Predatory Lending: High interest rates (e.g., 1% per day) and short repayment periods (as little as 7 days for a 3-month loan) exploit vulnerable borrowers (Trustpilot).
• Harassment Tactics: Users report relentless calls and threats, even after partial repayments, which violates RBI’s Fair Practices Code.
• Unclear Terms: Complaints about hidden fees and penalties suggest a lack of transparency, a common trait in questionable loan apps.

While not an outright scam, these issues indicate unethical practices that could harm users financially and emotionally. The RBI has not taken specific action against R.K. Bansal Finance Pvt. Ltd. as of May 2025, but user feedback suggests regulatory oversight may be warranted.

Real or Fake?

Ram FinCorp is real, as it is backed by a legitimate, RBI-registered NBFC, R.K. Bansal Finance Pvt. Ltd., incorporated in 1984 and active as of its last Annual General Meeting in September 2023 (Tofler). The company’s registration details, including its Corporate Identification Number (CIN) and RBI registration number, are verifiable through official sources (Zauba Corp). It also maintains a grievance redressal policy, indicating some commitment to customer service (Ram FinCorp Grievance Policy).

However, the platform’s operations through the Ram FinCorp app have drawn significant criticism. User reviews on platforms like Trustpilot describe it as a “fraud app” due to exorbitant interest rates, unexpected charges, and harassment (Trustpilot). For example, one user reported receiving only ₹8,850 from a ₹10,000 loan but being asked to repay ₹13,850 within 30 days. Another user alleged attempts to steal device data, a serious privacy violation. These experiences contrast sharply with the company’s claims of offering “affordable interest rates” and “transparent services” (R.K. Bansal Finance).

For comparison, legitimate loan apps like KreditBee or MoneyTap are also NBFC-backed, available on official app stores, and have clearer terms with fewer complaints. Ram FinCorp’s absence from Google Play Store or Apple App Store and reliance on third-party downloads further fuels skepticism. While not fake, its practices align with characteristics of predatory lending apps, making it a risky choice.

Conclusion

Ram FinCorp is a real platform backed by a legitimate NBFC, R.K. Bansal Finance Pvt. Ltd., but its operational practices raise serious concerns. High interest rates, aggressive collection methods, and user-reported issues like data privacy risks and hidden fees suggest it may not be a safe or ethical choice for borrowers. While it serves a niche for those needing instant loans, the potential financial and emotional toll outweighs the benefits for most users. Safer alternatives include regulated apps or traditional banks with transparent terms. Before using Ram FinCorp, thoroughly review its terms, verify repayment conditions, and consider user feedback to avoid potential pitfalls. Protect your financial well-being by prioritizing trusted platforms with proven track records.

Ankush Sheoran

Founder of EarningReview.com
Ankush is a passionate digital explorer and the mind behind EarningReview.com. He reviews trending earning apps, websites, and games to help you find legit ways to make money online. His mission? To save your time and protect you from scams.