In today’s digital age, instant loan apps have become increasingly popular, offering quick cash solutions without the lengthy paperwork of traditional banks. One of the many names circulating online is the Timely Purse Loan App – an app that claims to offer fast personal loans with minimal documentation.
But behind its promises lie growing concerns among users, including reports of unwanted loans, misuse of data, and aggressive repayment tactics.
In this review, we take a closer look at the Timely Purse app, its operations, whether it is registered with the RBI, and most importantly – whether it can be trusted or should be avoided.
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Timely purse loan app RBI registered
According to the Reserve Bank of India (RBI), every formal lender, including digital apps, must be registered as a non-banking financial company (NBFC) or partnered with one. This ensures transparency, data security, fair recovery practices, and borrower protection.
However, despite searching extensively, there is no evidence that “Timely Purse” / “Timely Cash” is registered by the RBI. It does not appear on any known RBI-approved app list (such as KreditBee, MoneyTap, Paisense, etc.), reports infoshots.in. Instead, it seems the app is a shady operation without any NBFC credentials.
How to use Timely Purse Loan App (Step-by-Step Guide)
Step 1: Download the app
- Search for “Timely Purse” or “Timely Cash” in Google Play Store (it may not be available on iOS).
- Tap Install and wait for the app to download.
⚠️ Caution: Some users report fake or clone apps under similar names. Always check app reviews, permissions, and developer information.
Step 2: Register and set up your account
- Open the app and tap “Register” or “Sign up”.
- Enter your mobile number and verify it via OTP.
Fill in basic personal information like:
- Name
- Date of Birth
- Address
- PAN Card or Aadhaar Number
🛑 The app may ask for excessive permissions, including access to your contacts, gallery, and messages. Be very careful—it’s prone to privacy abuse.
Step 3: Apply for a loan
- Choose the loan amount (usually between ₹2,000 to ₹20,000).
- Choose the repayment period (usually 7 to 30 days).
Upload KYC documents:
- Aadhaar/PAN card
- Selfie
- Bank account details (for loan disbursement)
Step 4: Loan disbursement
- After submitting the documents, the app claims to process your loan quickly.
If approved, the amount is sent directly to your bank account – but some users report receiving less than the promised amount (after a “processing fee” is deducted).
Step 5: Repayment
- The app shows your due date and repayment amount.
- You can pay via UPI, debit card, or net banking from within the app.
- Late repayments may trigger aggressive reminders and in some cases harassment (as reported by users).
⚠️ Important warnings before using it:
Not RBI-registered: There is no evidence that the app is associated with any registered NBFC or regulated by the RBI.
Excessive permissions: The app can access your contacts and photos, which may lead to privacy breaches.
Harassment reports: Many users complain about threats, blackmail, and calls from foreign numbers (e.g., +92 Pakistan).
No customer support: Users report that the app has little or no real help when issues arise.
✔️ Recommendation
You should avoid using Timely Purse unless it is officially verified and RBI-registered. Use only trusted loan apps like:
- KreditBee
- PaySense
- MoneyTap
- CASHe
All of these are backed by NBFCs and regulated by RBI.
Verdict: Fake or Real?
Timely Purse is a scam. It is not RBI-registered, uses illegal lending tactics, invades privacy, and engages in harassment and extortion. It’s a textbook example of a fraudulent micro‑loan app.
🔐 What You Should Do
If you’ve received such a loan or been contacted:
- Do not repay the fake loan—repayment doesn’t stop the harassment and fuels the scam.
- Block unknown numbers, especially foreign country codes.
File a complaint:
- With local cyber‑crime police
- Via RBI’s Sachetan digital lending portal
- Check your CIBIL report—no record means it isn’t a legitimate loan
- Use only verified RBI‑approved loan apps, such as KreditBee, PaySense, MoneyTap, CASHe, LazyPay, etc.
Final Takeaway
Timely Purse is not real—it’s a scam. It fails every test of legitimacy and uses coercive, illegal practices. For any financial emergencies, rely solely on RBI-registered lenders with clear terms, reasonable interest, and regulated recovery practices.