Qrates

Is 0% EMI Shopping App safe and registered in India?

To know if 0% EMI shopping apps are safe, you must check their regulatory status and phone data access. For the 0% EMI Shopping App published by Snapmint, we could not match a licence on the registers we check. The app asks to read your text messages and contacts.

By Qrates research desk · 2026-10-27

To know if are 0 emi shopping apps safe, you must check their regulatory status and data access. For the 0% EMI Shopping App published by Snapmint, we could not match a licence on the registers we check (Qrates directory). The app asks to read your text messages and contacts, and its average rating over the last 90 days has dropped to 2.99 due to credit report problems. You can check the latest figures on the 0% EMI Shopping App Qrates page.

Licence and registration

Any buy now pay later app or digital lending platform in India must obtain its own NBFC licence or partner with a bank or an RBI registered NBFC. For the 0% EMI Shopping App published by Snapmint, we could not match a licence on the registers we check (Qrates directory). Without a clear regulatory match, it is hard to confirm if a platform is an 0 emi app rbi registered product.

A legitimate loan requires a Key Fact Statement KFS detailing the exact lender, the interest rate, and all fees. Digital lending guidelines require the exact regulated entity to be explicitly disclosed to the borrower. You can verify the registration status of other lenders in our /apps/lending directory.

Regulator warnings

The regulator frequently cautions the public against falling prey to unauthorized digital lending platforms. The RBI explicitly warns consumers never to share documents for KYC verification or personal data with unverified apps to avoid fake emi apps in india. There is no specific public warning naming Snapmint.

However, the lack of a verifiable licence on official registers is a red flag under current digital lending guidelines. The RBI mandates that all regulated entities provide a Key Fact Statement KFS for retail loans. This document ensures you know exactly who is lending you the money.

What it can read on your phone

The 0% EMI Shopping App requests several intrusive phone permissions from the Google Play Store (Qrates directory). Reading contacts and text messages gives the app deep access to your personal network and financial SMS data. These permissions pose a privacy risk if the app is not clearly tied to an RBI registered NBFC.

Permission requested What it means for you
Read your text messages The app can see your financial transaction alerts and OTPs.
Read your contacts The app can access the names and numbers of your family and friends.
Record audio The app can turn on your microphone.
Read phone identity The app can track your specific device hardware.
See your location The app knows where you live and work.

The RBI's Digital Lending Directions strictly prohibit digital lending apps from accessing mobile phone resources such as contact lists and media files under any circumstances. Phone permissions like these are no longer permitted for risk assessment by regulated lenders.

What users complain about

The app has over 5 crore installs and an overall Google Play rating of 4.58 from 614,995 ratings (Qrates directory). However, the average of recent reviews over the last 90 days is 2.99. The developer replies to 100 percent of one and two star reviews.

The most raised problems in store reviews are:

  1. Credit report problems (20 of 399 Google Play reviews)
  2. Pushed into things (9 of 399 Google Play reviews)
  3. Nobody answers (7 of 399 Google Play reviews)

The app is most praised for being easy to use (5 of 399 Google Play reviews). It has been 10 days since the last app update.

Credit report problems can cause a severe CIBIL score impact if loans are wrongly reported to credit bureaus. Users should also watch out for a hidden processing fee or a late payment penalty when using such apps. You can compare complaint trends across similar products on our /apps/compare page.

How to check this yourself

You can verify buy now pay later apps safety claims by following these steps.

  1. Open the app's store page or official website to look for the name of the lending partner.
  2. Visit the official RBI website and download the latest list of registered NBFCs to see if the partner name matches.
  3. Demand the Key Fact Statement KFS before accepting any loan to check for hidden charges and the exact interest rate.
  4. Check the app permissions in your phone settings to see if it asks for your contact list or SMS.

You can also review the regulatory status of the companies behind these apps on our /companies page.

FAQs

Are 0% EMI apps safe to use?

This depends entirely on whether the app is an RBI registered NBFC or partners with one. Regulated apps must follow strict rules for data privacy and transparent pricing. You can check if no cost emi apps safe or not by verifying their lending partner on the RBI website.

Does 0% EMI affect CIBIL score?

Yes, taking a loan and missing payments will lower your CIBIL score. Payment history is a major factor in credit scoring, and late payments will negatively impact it.

What are the hidden charges in no cost EMI?

No cost EMI products often include an upfront processing fee along with applicable GST. Missing a monthly instalment can also result in a late payment penalty and auto-debit bounce charges. This answers the common question of is no cost emi really 0 interest and exposes 0% EMI Shopping App vs Bajaj Finserv hidden charges.

Do EMI apps ask for contact list permission?

Many apps do ask for contacts and SMS access, which users must manually approve. However, the RBI strictly prohibits regulated digital lending apps from accessing contact lists or call logs.

The short version

  • For the 0% EMI Shopping App published by Snapmint, we could not match a licence on the registers we check.
  • The app asks for permissions to read your text messages, read your contacts, record audio, read phone identity, and see your location.
  • The average rating of recent reviews over the last 90 days is 2.99.
  • The most raised issue in recent reviews is credit report problems.
  • The RBI prohibits digital lending apps from accessing mobile phone resources like contact lists under any circumstances.

Sources

Disclaimer

Qrates is an information directory. It takes no commission from any company listed and does not recommend products. Figures are taken from the sources named and dated, and they change; check the company's own page before you decide. This is not investment, credit, insurance or tax advice for your situation. A licence or a clean record today does not guarantee how a company behaves later. To complain, use the regulator's own portal (RBI CMS, SEBI SCORES or IRDAI Bima Bharosa).

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