Interest Rate @1% – mPokket Instant Personal loans

The mPokket is one of the best instant loans app for college students and professional to manage there day to day expenses. mPokket gives you quick loans without any long-term EMIs.

 Loan ranges from Rs. 500 to Rs. 30,000, the Maximum limit for college students is Rs.20,000 whereas the Maximum limit for professionals is Rs. 30,000. The interest rate applied is 1%-6% per month for tenure ranges from 60 to 120 days.  You also received exciting cashback and rewards.

Why mPokket?

  • Quick approval: your loan is approved within minutes if you are eligible, loan ranges between Rs. 500 to Rs. 30,000.
  • Complete Online Process: mPokket is completely Online so, no paperwork is required and also saves time, you can get a loan within minutes. 
  • No credit score required: To avail loan from mPokket you don’t need any credit score or credit report.
  • One-time documentation: If you apply a second time and further for the loan no documentation or KYC process is required. 
  • You can choose your repayment tenure: mPokket facilitates choosing repayment tenure according to customers. Loan repayment tenure lasts up to 60 days.
  • 100% Secure: mPokket ensures 100% safety and privacy of your data and does not share your data with anyone without your permission. 
  • No collateral or guarantor is required.
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How does the mPokket work?

  1. Download the mPokket app from Google Play Store.
  2. Verify your mobile number and Sign up using Google or Facebook.
  3. Set your password and select your profession.
  4. Complete your KYC process.
  5. Upload bank statements to show Your salary credits.
  6. Record your selfie video in-app as mentioned. 
  7. After approval gets the loan amount into your bank account in minutes.

Eligibility Criteria of mPokket

  • Indian Resident
  • Above the age of 18
  • Salaried Individuals
    • Full time employed
    • Minimum monthly salary Rs. 9,000

Documents Required

  • For Salaried person
    • Identity proof (Aadhar card/PAN card)
    • Address Proof(Voter card/Aadhar card/Passport/Utility bill)
    • PAN card(mandatory)
    • Income Proof- last 3 months bank statements
    • Salary slip/Offer letter/joining letter
  • For College Student
    • Identity proof (Aadhar card/PAN card)
    • Address Proof(Voter card/Aadhar card/Passport/Utility bill)
    • College ID card
    • Bank account details

Fee and Other Charges

The processing fee can be charged with Rs. 34 to Rs. 203 + 18% GST. If you miss your EMI dates or your loan amount becomes overdue late fee will be applicable. No hidden charges are applied.

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Contact Details

Email – support@mpokket.com

(available between 10 am to 7 pm)

Telephone number- 03366452400

Official Website – mPokket

App Link – Download app

App Review

mPokket is a user-friendly application. It is very convenient for quick small amount loans. The app will notify you about your loan due dates so you can repay loans on time without late fee charges. It has 10 million+ downloads with 2 million+ customers with 4.2 ratings on google play stores along with 4,33,846 reviews to date.

FAQs

1). Is any Tax applied on loan repayment?

No, any tax is not on loan repayment nor any kind of charge if you repay on time.

2). How can I repay my mPokket loan?

You can repay the loan by three modes: Net Banking, Debit card, UPI payment.

3). What is the maximum amount for a loan I can apply for?

The maximum limit for college students is Rs.20,000 whereas the Maximum limit for professionals is Rs. 30,000.

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4). Can I get a loan without a salary slip?

If you registered as salaried employed you cannot get a loan without a salary slip because mPokket needs to verify your income, but if you registered as a college student you can avail of the loan without a salary slip or income proof.

5). Is mPokket legal in India and is it registered with RBI?

Yes, mPokket is legal in India and 100% secure. mPokket lending partners are Jalan Chemical Industries private ltd and mPokket Financial services ltd which are registered with RBI.

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