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mPokket Instant Personal Loan
In case you missed the boat on getting a personal loan from a bank, there's a way to get an instant cash loan. It's called mPokket Instant Loan.
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mPokket Instant Personal Loan
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mPokket Instant Personal LoanHere are a few factors
| Location | PAN INDIA |
| CIBIL Score | 550+ |
| Minimum Salary Per Month | 9000/- Per Month |
| Salary Mode | NEFT,RTGS,COMPANY TRANSFER,IMPS,CHEQUE & UPI |
| Applicant Age | 18 Year to 60 Year |
| Loan Amount & Tenure | 500
to 30000 (1 week to 4 Month) |
| Rate of Interest (Type) | 2% - 4% ( Per Month) |
| Processing Fees | 50/- to 200/- Excluding taxes |
| Processing Mode & TAT | Processing:
Online TAT: 5 Min to 48 Hour |
| Foreclosure Charges | Nil Charges |
| Part Payment Allowed | NO |
| OD Product | No |
| BT+TopUp | No |
| Minimum Job Experience | Not Required |
| Current Employer Business Vintage | Not Required |
| FOIR | 60% of Net Salary |
| Whether Co-Applicant Mandatory | No |
| USP | 1.
Funding to All Profile 2. Funding to College Students 3. Salary Slip not required |
| Negative Profile | 1.
NRI Employee 2. Cash Salary |
mPokket Instant Personal Loan EMI Calculator
Interest Type
Loan Amount
Interest Rate
Loan Tenure
| Loan Amount | ₹100,000 |
| Interest % | 2 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 8,424 |
| Total Interest | ₹ 1,087 |
| Loan Amount + Interest | ₹ 101,087 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 24,813 | ₹ 459 | ₹ 25,272 | ₹ 75,187 | 24.81 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 75,188 | ₹ 628 | ₹ 75,816 | ₹ 0 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Required Documents to Apply for MPokket Instant Personal Loan
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KYC of Applicant (Adhar Card+Pan Card+Passport Size Photo)
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Last 3 month Salary Slip
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Last 6 month Bank Statement in PDF
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Form 16 of last 2 year
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Rent Agreement if rented or Utility Bill if residence is owned
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Sanction Letter of all current running loan if any
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Office ID Card or Official EMAIL ID if any
About MPokket Instant Personal Loan
A smartphone application called mPokket offers college students and recently employed people in India an immediate personal loan. The loan amount can range from Rs. 500 to Rs. 20,000, and upon acceptance, it is immediately credited to your bank account or Paytm wallet. The loan may be reimbursed in 3 months with a debit card, UPI, or Paytm wallet and has an interest rate of 1% to 6% each month.
MPokket Customer Care
Highlights
You might be wondering what an instant loan is and why you should take only from mPokket. Here are the explanations.
Instant Fund Disbursal
Complete Online Procedure
Zero Collateral
7 Million+ App Download
2 Million+ Satisfied Customers
4+ Star Rating on Google
Instant Loan for Students
Majorly mPokket serves in three verticals of Instant loans, so let's talk about them:
If you're a student, then you know what it feels like. The regular education expenses and the additional costs eat into your savings and the limited scholarship amount that you get. There are times when those expenses and costs simply run over your budget and you need cash to meet them. That's where mPokket can help. It's an instant loan application that allows students to get a quick online personal loan for education-related expenses or for anything else for that matter. With extremely low-interest rates and no long-term commitment, mPokket is one of the best instant loan apps for students.
| Loan Amount | Up to Rs. 30,000 |
| Repayment Tenure | 4 months |
| Collateral Requirement | Not Required |
| ROI (Fixed/Floating) | Fixed |
| Interest Rate | 2%-4% monthly |
| Processing Fee | Rs. 50 to 200 + GST |
Instant Loan for Salaried Individuals
mPokket instant salary loans offer you a convenient and quick way to get additional cash to meet your monthly expenses. The repayment period can be customized based on your requirement. You need not fill out any application form or make multiple visits to the lender's office to get a personal loan from mPokket. All you have to do is fill in the details of your income, and basic expenses and upload the required documents to avail of a personal loan instantly. Get ready to fire up new dreams that have been lingering due to insufficient money flow in your account by availing of a mPokket salaried person loan.
| Loan Amount | Rs. 500 to Rs. 30,000 |
| Repayment Tenure | 4 months |
| Collateral Requirement | Not Required |
| ROI (Fixed/Floating) | Fixed |
| Interest Rate | 2%-4% monthly |
| Processing Fee | Rs. 50 to 200 + GST |
Start with MPokket Personal Loan in few steps
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, the amount will be disbursed to your account shortly.
Let us take an example, How EMI is being calculated
For instance, if "Shubham" applies for a mPokket Instant Loan of INR 20,000 and get the loan sanctioned at the rate of 36% with a tenure range of 4 Months , in such a case his EMI would be INR 5,381 and complete repayment amount till the end of 4 months tenure would be INR 21,522 (i.e 5,381 EMI * 4 months), wherein the total interest amount is INR 1,522 along with principal repayment of INR 21,522. Few additional charges like those of minimal one-time processing fee ranging from 2%-3% of loan amount, T& C apply.| Year | Principal (A) | Interest (B) | Total Payment (A+B) | Balance Principal | Loan Paid Till Date |
|---|---|---|---|---|---|
| 2022 | ₹ 20,000 | ₹ 1,522 | ₹ 21,522 | ₹ 0 | 100.00% |
| Aug | ₹ 4,781 | ₹ 600 | ₹ 5,381 | ₹ 15,219 | 23.90% |
| Sep | ₹ 4,924 | ₹ 457 | ₹ 5,381 | ₹ 10,296 | 48.52% |
| Oct | ₹ 5,072 | ₹ 309 | ₹ 5,381 | ₹ 5,224 | 73.88% |
| Nov | ₹ 5,224 | ₹ 157 | ₹ 5,381 | ₹ 0 | 100.00% |
FREQUENTLY ASKED QUESTIONS
The highest loan amount MPokket Instant Personal Loan can allow a student to avail of is Rs. 30,000.
Yes, you can shift your MPokket personal loan midway but only once you pay the first EMI installment.
You can check your status online through mPokket's App. To get started, download the MPokket App. After logging in with your details, you'll see your open loans in the activity section of the MPokket App.
The MPokket Instant personal loan application process is entirely paperless and straightforward. So you can get the loan approved within a few minutes.
The MPokket Instant personal loan interest rates vary from 2% to 4% monthly, depending upon your credit scores and bank records.
The minimum ROI of a Mpokket Personal Loan is 2% per month
The minimum ROI of a Mpokket Personal Loan is 4% per month
The highest loan amount you can avail with Mpokket Personal Loan is Rs. 30,000
The minimum loan amount you can avail of with a Mpokket Personal Loan is Rs. 500.
The processing fee for Mpokket’s loan is ranging between ₹50 and ₹200, excluding taxes.
The minimum repayment tenure of Mpokket's Personal Loan is 1 week
The maximum repayment tenure of Mpokket's Personal loan is 4 months
Yes, you can apply for a Mpokket Personal Loan anywhere from India as it holds a PAN India access
The minimum required salary to apply for a Mpokket Personal Loan is Rs. 9,000 Monthly.
To apply for Mpokket Personal Loan your Minimum CIBIL score must be 550
Yes, to apply for Mpokket Personal Loan your Minimum CIBIL score must be 550
Yes, to apply for Mpokket Personal Loan your Minimum CIBIL score must be 550
You can go to the official website of Mpokket or you can also switch to ReferLoan for an easy and smooth loan application process.
Yes, Mpokket accepts minus CIBIL scores for Personal loans.
The minimum required age to apply for a Mpokket Personal Loan is 18
There is no maximum set age limit to apply for Mpokket Personal Loan.
Yes, Mpokket does offer funding to the Proprietorship Firm Employees.
Yes, Mpokket does offer funding to the Partnership Firm Employees.
There is no minimum employment period required if you plan to apply for a Mpokket Personal Loan.
There is no minimum employer vintage required if you plan to apply for a Mpokket Personal Loan.
No, it is not mandatory to provide a Co-applicant to apply for a Mpokket Personal Loan
No, Mpokket doesn’t fund NRIs for Personal Loans.
Yes, Mpokket allows personal loans for every job profile.
Yes, Mpokket allows personal loans for every job profile.
Yes, Mpokket allows personal loans for every job profile.
Yes, Mpokket allows personal loans for every job profile.
Yes, Mpokket allows personal loans for every job profile.
Yes, Mpokket allows personal loans to every job profile.
Yes, MCD Workers can apply for Mpokket’s Personal Loan.
No, partial payments are not allowed with Mpokket’s Personal Loan.
No, there is no foreclosure charge for Mpokket Personal Loans.
Yes, You can apply for a Mpokket Personal Loan if you receive your salary through NEFT
Yes, You can apply for a Mpokket Personal Loan if you receive your salary through RTGS
Yes, You can apply for a Mpokket Personal Loan if you receive your salary through Company Transfer.
Yes, You can apply for a Mpokket Personal Loan if you receive your salary through IMPS
No, you can’t apply for a Mpokket Personal Loan if you receive our salary in cash.
Yes, you can apply for a Mpokket Personal Loan if you receive our salary through UPI.
It takes 48 hours for the disbursement of a personal loan
Mpokket takes 5 minutes for the confirmation of a personal loan
Yes, you can apply for a Mpokket Personal Loan online
The customer care number of Mpokket is 033- 6645 2400.
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