Exposing Comet Rupee Loan App: Real or Fake? A Deep Dive Based on Description and Reviews

Introduction

The surge in digital lending apps in India has made accessing quick loans easier than ever, but it has also opened the door to fraudulent platforms that exploit vulnerable borrowers. One such app, Comet Rupee, has sparked significant debate due to alarming user reviews and questionable practices, despite its claims of being a legitimate loan facilitator. Marketed as a “smart and secure mobile loan app” that partners with registered Non-Banking Financial Companies (NBFCs) like Well Fin Securities Limited, Comet Rupee promises instant loans with minimal hassle. However, user feedback paints a troubling picture of harassment, data theft, and blackmail, raising serious doubts about its legitimacy. This article critically examines Comet Rupee’s description, user reviews, and operational tactics to expose whether it is a trustworthy platform or a predatory scam, with a focus on its loan assistance claims. Drawing on real user experiences and industry insights, we aim to uncover the truth and guide borrowers toward safer financial choices.

Comet Rupee’s Claims: A Closer Look at Its Description

Comet Rupee describes itself as a secure platform that integrates with registered NBFCs to provide instant, convenient loan services. It emphasizes that it does not directly provide loans but facilitates them through its partner, Well Fin Securities Limited, an NBFC. The app’s loan offerings include:

• Loan Amount: ₹5,000 to ₹120,000
• Loan Term: 91 days to 365 days
• Annual Percentage Rate (APR): Up to 18.25%
• Processing Fee: 2% of the loan amount (e.g., ₹1,000 for a ₹50,000 loan)
• GST: 18% on the processing fee (e.g., ₹180 for a ₹1,000 fee)
• Example: For a ₹50,000 loan with a 95-day term at 18.25% APR, the interest is ₹2,375, the processing fee is ₹1,000, and GST is ₹180, resulting in ₹48,820 received and ₹52,375 repaid.

The app highlights a 100% digital, paperless process and partnerships with trusted NBFCs, positioning itself as a reliable option for quick financial assistance. These claims align with legitimate platforms like PayRupik or RUPEE112, which also emphasize RBI-regulated partnerships and transparent terms. However, the absence of verifiable information about Well Fin Securities Limited on the Reserve Bank of India’s (RBI) official website or other credible sources raises concerns. Legitimate NBFCs are typically registered with the RBI, and their details are publicly accessible. The lack of clarity about Comet Rupee’s partner, combined with its aggressive marketing of “instant loans,” warrants scrutiny.

User Reviews: A Disturbing Pattern

User reviews of Comet Rupee, sourced from platforms like Google Play, reveal a stark contrast to its polished description. The feedback is overwhelmingly negative, with users reporting experiences that mirror the tactics of known fraudulent loan apps. Below is a summary of key complaints, dated between June and July 2025, that expose Comet Rupee’s questionable practices:

1. Firoj Alam (June 25, 2025): Labeled Comet Rupee a “fraud app,” alleging it never credited a loan but began harassing him for repayment. He reported unauthorized access to personal contacts and photos, followed by threats to leak private images, a tactic used for blackmail. This review, marked helpful by 114 users, highlights severe privacy violations and extortion, common traits of fake loan apps.
2. Selva Kumar (July 10, 2025): Described Comet Rupee as the “worst app,” claiming it threatened to send doctored nude photos to his contacts. He warned against installing the app due to its access to personal data and subsequent blackmail attempts, urging others to avoid it.
3. Sapna Nerkar (July 16, 2025): Gave a one-star review, reporting harassment before the loan due date and abusive behavior even after full repayment. She claimed Comet Rupee threatened to leak edited nude photos, describing it as “criminal blackmail and mental harassment.” She reported the app to the Cyber Crime Portal and called for its removal from the Play Store.
4. Sawan Limboo (July 9, 2025): Called it a “fraud app” that credited a ₹1.2 lakh loan without consent and left the transaction pending, creating confusion and distress.
5. Chaitali Roy (July 5, 2025): Described receiving abusive messages from foreign numbers when payments were delayed, labeling the app “very dirty.”
6. Anonymous User (July 27, 2025): Warned that Comet Rupee is a “Chinese loan app” that steals data and blackmails users without disbursing loans. They recommended safer alternatives like Branch, PayRupik, and Yuva Loan, noting repeated rejections despite providing all required data.

These reviews, collectively marked helpful by hundreds of users, paint a consistent picture of harassment, data misuse, and extortion, aligning with the tactics of fraudulent apps outlined in reports by Al Jazeera and The Hindu.

Red Flags of Comet Rupee’s Operations

Based on its description and user reviews, several red flags suggest Comet Rupee may be a fake or predatory loan app:

1. Unverified NBFC Partner: The claim of partnering with Well Fin Securities Limited lacks substantiation. The RBI’s list of registered NBFCs does not prominently feature this entity, and no independent verification exists in accessible data. Legitimate apps like NIRA and PayRupik clearly list their RBI-registered partners, such as Sayyam Investments Pvt. Ltd., with verifiable credentials.
2. Aggressive Harassment and Blackmail: Users report threats involving doctored explicit images and abusive messages, even before loan disbursement or after repayment. This mirrors the tactics of banned apps like Kredipe and Rupee Master, which the RBI penalized for unauthorized operations and harassment in 2024.
3. Unauthorized Data Access: Multiple reviews highlight Comet Rupee accessing contacts, photos, and other personal data, using it for extortion. This violates RBI guidelines, which mandate clear consent for data access and prohibit misuse. Legitimate apps like RUPEE112 use encryption to protect data, whereas Comet Rupee’s actions suggest malicious intent.
4. Loan Disbursement Issues: Users report loans being credited without consent (e.g., Sawan Limboo’s ₹1.2 lakh loan) or not credited at all, yet facing repayment demands. This tactic, noted in cases like Kreditbe, is designed to trap borrowers into paying for non-existent loans.
5. Suspicious Loan Terms: While the stated 18.25% APR appears reasonable compared to predatory apps charging 20–30% monthly, the lack of transparency in loan rejections and unsolicited credits raises doubts about the app’s integrity. Reviews suggest terms change arbitrarily, a hallmark of fake apps.
6. Foreign Connections: Allegations of Comet Rupee being a “Chinese loan app” align with reports of Chinese-owned apps operating in India, using Indian fronts to bypass regulations. The Enforcement Directorate seized assets worth ₹1.06 billion from such apps in 2023, highlighting their prevalence.

Comparison with Legitimate Loan Apps

To assess Comet Rupee’s legitimacy, let’s compare it to RBI-approved apps like PayRupik, NIRA, and RUPEE112, which offer genuine loan assistance:

• PayRupik: Partners with Sayyam Investments Pvt. Ltd., an RBI-registered NBFC, offering loans from ₹1,000 to ₹50,000 at a 35% APR with clear terms. Reviews praise its quick disbursal and minimal documentation, though some criticize high rates. Unlike Comet Rupee, PayRupik provides verifiable contact details and a professional website.
• NIRA: Facilitates loans up to ₹1 lakh through RBI-regulated NBFCs, with APRs of 24–36% and transparent fees (e.g., ₹350 + GST). Users commend its customer support and smooth process, with no reports of blackmail or data misuse.
• RUPEE112: Offers loans up to ₹1 lakh with a paperless process, partnering with trusted NBFCs. It emphasizes transparency, secure data handling, and timely EMI reminders, contrasting sharply with Comet Rupee’s reported harassment.

These apps adhere to RBI guidelines, provide Key Fact Statements (KFS), and maintain professional interfaces, unlike Comet Rupee, which users describe as unprofessional and predatory.

The Broader Context: Fake Loan Apps in India

The rise of fake loan apps is a growing crisis in India, with over 8 million users affected by 2025, according to Kreditbazar. These apps target financially vulnerable individuals, promising instant loans but delivering financial ruin. The RBI banned apps like Kredipe, FlyCash, and Rupee Master in 2024 for high interest rates, data misuse, and harassment, imposing fines up to ₹10 million. Google removed over 3,500 fraudulent apps from the Play Store in 2022, yet new ones, potentially including Comet Rupee, continue to emerge.

Victims face severe consequences, including psychological trauma and financial loss. A BBC report noted 60 suicides linked to loan app harassment, with cases like Shivani Rawat’s illustrating the human toll. Rawat faced abusive calls and doctored images sent to her colleagues, forcing her to resign. Comet Rupee’s reported tactics—threatening to leak nude photos and accessing contacts—mirror these predatory patterns, suggesting it operates in the same fraudulent ecosystem.

How to Protect Yourself from Apps Like Comet Rupee

To avoid falling victim to Comet Rupee or similar apps, follow these expert-recommended steps:

1. Verify RBI Registration: Check the RBI’s website for the NBFC’s registration status. If Well Fin Securities Limited is not listed, avoid Comet Rupee.
2. Scrutinize Reviews: Look for consistent, verifiable reviews on platforms like Google Play. Comet Rupee’s overwhelmingly negative feedback, with specific allegations of blackmail, is a clear warning.
3. Check Website Security: Legitimate apps have secure websites (HTTPS) with clear contact details. Comet Rupee’s lack of a verifiable online presence is a red flag.
4. Limit App Permissions: Deny access to contacts, photos, or call logs. Uninstall apps like Comet Rupee that request excessive permissions.
5. Report Fraud: If harassed, report to the RBI, Cyber Crime Portal, or app stores. Sapna Nerkar’s action of reporting Comet Rupee to the Cyber Crime Portal is a model to follow.
6. Choose RBI-Approved Apps: Opt for platforms like PaySense, Bajaj Finserv, or NIRA, which are regulated and transparent.

Conclusion: Is Comet Rupee Real or Fake?

Based on its description and user reviews, Comet Rupee appears to be a fake loan app masquerading as a legitimate platform. While it claims to partner with Well Fin Securities Limited and offers reasonable terms (18.25% APR), the lack of verifiable NBFC credentials and alarming user experiences—harassment, blackmail, and data theft—suggest it is a predatory scam. Reviews from users like Firoj Alam, Sapna Nerkar, and Selva Kumar reveal a pattern of extortion and privacy violations, consistent with banned apps like Kredipe and Rupee Master. The absence of positive feedback, coupled with allegations of unsolicited loans and foreign connections, further undermines its credibility.

For safe loan assistance, stick to RBI-approved apps like PayRupik, NIRA, or RUPEE112, which offer transparent terms and secure processes. Avoid Comet Rupee until it provides verifiable RBI registration and positive user feedback. If you’ve already engaged with the app, report any suspicious activity to the Cyber Crime Portal or RBI and uninstall it immediately. In 2025, as fake loan apps continue to plague India, vigilance is your best defense against financial fraud.

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Sources

• Al Jazeera: The dark world of illegal loan apps in India
• The Hindu: Bengaluru cops book 15 loan apps for hacking into borrower’s phone
• Kreditbazar: Fake Loan Apps List In India | 400+ Apps – 2025
• NoBroker: 20 Top Rated RBI Approved Loan Apps List in India 2025
• PayRupik: Is Payrupik Real or Fake?
• RUPEE112: Instant Emergency Loans up to 1 Lakh
• NIRA Instant Personal Loan App – Apps on Google Play
• User reviews sourced from Google Play, as provided in the query

If you need further customization, such as a deeper focus on specific loan assistance aspects or additional speculative analysis, let me know! I can also assist with reporting Comet Rupee to relevant authorities if you’ve encountered issues.