NextFin Loan Review: Customer Care Number, RBI Status & Is It Safe?

NextFin offers small unsecured loans — ₹5,000 to ₹50,000, or up to ₹1 lakh in larger cities — through an app, plus secured loans arranged offline in Delhi NCR. The lender is an old company: Amar Amba Finance Hire Purchase Private Limited, incorporated in 1997 and registered with RBI out of its Jammu office.

We could verify the registration, and we found nothing adverse on the regulatory record. What we did find, repeatedly and specifically, is borrowers describing a broken loan journey and a company they could not reach. That is the substance of this review.

NextFin Loan Reviews

Start with the contradiction. On Google Play the app holds 4.9 stars from about 7,720 ratings; on the Apple App Store, the same app, same version, same release date, holds 3.1 from 428 ratings. Ratings diverge between platforms sometimes, but not by that much, and the five-star Play text reads like near-identical marketing prose — "flexible tenure and payment terms", "no joining fees or hidden charges" — while the detailed complaints sit at one star.

The recurring complaints, from March 2025 onward:

• Mandate registered, no money. Reviewers describe uploading documents, e-signing the loan agreement and registering the NACH or e-mandate, and then never receiving a disbursal — with the application data subsequently wiped from the app.
• Nobody answers. The helpline reported as out of service, the WhatsApp line offline, emails unanswered. This is the single most consistent theme.
• Closed loans not marked closed for weeks, with the e-mandate still active after full repayment.
• Auto-debit behaving inconsistently, silently failing some months and then producing a late fee for the miss.
• KYC and mandate errors blocking the journey.

The positives, which exist: fast approval and same-day or next-day disbursal for those who got through, a simple digital application, and at least one case of a double-debited EMI refunded the following day.

One more fact worth weighing: the app has not been updated on either store since 23 August 2024. For a lending app subject to RBI's evolving digital lending rules, two years without a release is a long time.

NextFin Loan Safe or not?

The lender is legitimate. The app's execution is where the risk sits, and the specific risk is unusual enough to name plainly.

What checks out:

• Verified in RBI's register. Amar Amba Finance Hire Purchase Private Limited, serial 384 of RBI's list of NBFCs as on 30 September 2025, Jammu regional office, ICC classification, non-deposit-taking, CIN U65921JK1997PTC001660 — matching the registered address published on nextfin.in.
• It lends on its own book. No opaque chain of partner NBFCs.
• No adverse record. No RBI cancellation, penalty, enforcement action, government warning or police advisory naming NextFin or the lender.
• A named grievance officer with a direct email and phone — better than several larger names in this list.
• Clean data practices by category standards: no contacts, SMS or photo access declared in the data-safety block.
• The classic predatory markers are absent: we found no advance-fee-before-disbursal complaints, no contact-list harassment, no blackmail.

What to weigh against it:

• The e-mandate problem. An auto-debit mandate registered without a disbursal is a live authorisation against your bank account for a loan you never received. Several reviewers describe exactly that.
• An unreachable helpline, reported across both stores.
• A rating that does not add up — 4.9 against 3.1 for the same app.
• No update since August 2024.
• The fee dwarfs the interest. On the company's own example, a 90-day ₹30,000 loan costs ₹2,124 in fees and ₹1,818 in interest, and the advertised 36% APR excludes the fee.
• Penalty at 0.6% a day, roughly 219% a year on overdue amounts.
• Its own sources contradict each other on loan size (₹50,000 versus ₹1 lakh), tenure (62 days to 12 months versus 62 days to 6 months) and foreclosure (after 3 months versus after 62 days).
• Four different customer-care numbers appear across its own surfaces, which in a market full of fake helplines is a real risk in itself.
• No RBI Ombudsman route published, although the fair practice rules require it.

The rule that protects you everywhere: no genuine lender asks for an OTP, PIN or card details, and none asks you to pay a fee by UPI before disbursal. NextFin deducts its fee from the loan. Anyone demanding advance payment in this or any lender's name is running a scam.

NextFin Customer Care

Given how many reviewers report the phone lines dead, put everything in writing. Email creates a dated record; a call that nobody answers does not.

If your mandate was registered but no loan arrived — act the same day:

1. Email the lender at support@nextfin.in and amit.ramdev@nextfin.in stating that no disbursal was received, that you revoke consent, and that the mandate must be cancelled. Attach screenshots of the agreement and mandate.
2. Tell your bank to cancel the e-mandate or NACH authorisation. You can do this yourself through net banking or at the branch; you do not need the lender's permission.
3. Check your credit report after 30 days to confirm no loan was booked in your name.
4. Complain to RBI at cms.rbi.org.in after 30 days, or report conduct at sachet.rbi.org.in. The lender is a registered NBFC, so it is squarely within the ombudsman's reach.
5. Keep everything — the agreement, the mandate confirmation, your bank statement showing no credit.

Never use a "NextFin customer care number" from a search snippet or directory, especially here, where the company itself publishes several different numbers. Our verified customer care directory lists only contacts published by companies themselves.

NextFin is RBI Registered or not?

Yes, verifiably — this is one of the few small lenders in this list we could confirm against RBI's own published list rather than a company claim.

• Entity: Amar Amba Finance Hire Purchase Private Limited, CIN U65921JK1997PTC001660, incorporated 1997.
• RBI register: serial number 384 in the list of NBFCs registered with the RBI as on 30 September 2025.
• Details recorded: Jammu regional office; certificate does not permit accepting public deposits; classification Investment and Credit Company.
• Address match: the RBI record's Jammu address matches the registered address on nextfin.in, which is what makes the identification firm.
• Unverified: the certificate number and date — the certificate published on the company's site is a scanned image with no readable text — and the app's presence in RBI's Digital Lending Apps directory, which we could not reach.

Remember what registration does and does not mean. It means the lender is supervised, must follow RBI's fair practice and digital lending rules, and is answerable to the RBI Ombudsman. It does not mean the app works, the helpline answers, or the price is fair.

Verify any lender yourself, in two minutes:

• Download RBI's list of registered NBFCs from rbi.org.in and search the exact entity name — here, "Amar Amba Finance".
• Check the separate list of cancelled registrations.
• Look for the app in RBI's Digital Lending Apps directory under Citizen's Corner.
• Demand the Key Fact Statement before signing anything, and keep a copy.

Rates, fees and the real cost

Work through the company's own example, because it is more revealing than the headline: ₹30,000 for 90 days costs ₹2,124 in processing fees and ₹1,818 in interest, repaid as three instalments of ₹10,606 — ₹33,942 in total. The fee exceeds the interest, and the advertised 36% APR does not include it. On a three-month loan, that fee alone is equivalent to roughly 28% a year on its own.

Short-tenure lending is where fees dominate. Use our EMI calculator on the net amount you actually receive, not the sanctioned figure, to see what you are really paying.

Eligibility and documents

• Age: 21 and above.
• Income: salaried or with a steady monthly income; no minimum figure is published.
• Documents: PAN, Aadhaar with an Aadhaar-seeded mobile number, three months of bank statements, three months of salary slips, address proof, and employment verification via an official email address.
• Coverage: pan-India for the smaller loans; the larger ticket is limited to tier 1 cities; secured loans are Delhi NCR only.

If you decide to apply anyway

1. Screenshot everything at each step — especially the loan agreement and the mandate confirmation.
2. Do not register the mandate until you have a disbursal commitment in writing with a date.
3. If money does not arrive within the promised window, cancel the mandate with your bank immediately and email the lender.
4. Ask for the Key Fact Statement with the APR including fees.
5. Fix the foreclosure terms in writing, given the 62-day versus 3-month contradiction.
6. Check your credit report a month later, whether or not the loan came through.

How to protect yourself when a lending app goes quiet

The specific hazard here is not fraud; it is an unresponsive company holding an active mandate on your bank account. That situation is manageable if you act quickly, and these steps apply to any app that stops answering.

1. Cancel the mandate yourself. You do not need the lender's cooperation. Net banking, the mobile banking app and your branch can all revoke an e-NACH or UPI auto-debit authorisation. Do it the moment a promised disbursal fails to arrive.
2. Write, do not call. Send one email to the support address and the grievance officer, stating the facts, dates and amounts, and asking for cancellation of the agreement and confirmation that no loan has been booked. Keep it factual and keep the copy.
3. Pull your credit report. Both CIBIL and the other bureaus give you free reports. Check that no loan has been recorded in your name, and that any closed loan shows as closed with a zero balance.
4. Dispute anything wrong at the bureau directly. You can raise a dispute with the credit bureau without the lender's involvement; the bureau must investigate with the lender.
5. Escalate to RBI after 30 days. A registered NBFC is within the ombudsman's reach at cms.rbi.org.in. Attach your email trail — this is why step 2 matters.
6. Watch your account for 60 days. If a debit appears against a loan you never received, raise it with your bank as an unauthorised transaction immediately, in writing.

Two preventive habits are worth adopting generally. Never register an auto-debit mandate before you have a written disbursal commitment with a date. And before installing any lending app, check when it was last updated — a lending app that has not shipped a release in over a year, as this one has not since August 2024, is one whose support and compliance posture you should assume has weakened too.

Verdict: should you take a NextFin loan?

The lender is real, registered and carries no adverse regulatory record, and for a small borrower those are meaningful facts. If the loan is disbursed and repaid on time, the cost — while fee-heavy — is within the range of app-based lending in India.

We would still hesitate, for one specific reason: multiple borrowers describe an active auto-debit mandate created without a loan being disbursed, against a company they then could not reach by phone. That combination, plus an app that has not been updated since August 2024, is enough to look elsewhere first. If you do proceed, keep the documentation discipline above, and be ready to cancel the mandate at your bank the moment a disbursal does not arrive. Compare alternatives in our loan app reviews.