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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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Work Process
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.
Required Documents
PAN Card
Aadhaar Card
College ID
Driving Licence
Voter ID
Passport
Eligibility Of Instant Loan for Students
The following information illustrates the loan eligibility and disbursal limits
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The applicant’s age must be a minimum of 18
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The applicant must have a valid college ID and Address Proof
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The Applicant must be an Indian Resident
MPokket Customer Care
Contact No. :- 033- 6645-2400 (Monday to Saturday: 10 AM to 6:30 PM)
Email :- support@mpokket.com
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. 20,000 |
| Repayment Tenure | 4 months |
| Collateral Requirement | Not Required |
| ROI (Fixed/Floating) | Floating |
| Interest Rate | 2%-4% monthly |
| Processing Fee | Rs. 50 to 200 + GST |
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% |
Instant Loan For Low Salaried
The question of easy loans for low-income earners has been a bone of contention for many years as banks and other financial organizations offer higher salary individuals easier loan facilities than required for low-income earners. But fret not, you can still avail of mPokket loans if you have a low-salaried job. All that you need is a regular salaried job or a self-employed income, residential proof, and an active mobile phone number.
| Loan Amount | Rs. 1,000 to Rs. 30,000 |
| Repayment Tenure | 4 months |
| Collateral Requirement | Not Required |
| ROI (Fixed/Floating) | Floating |
| Interest Rate | 2%-4% monthly |
| Processing Fee | Rs. 50 to 200 + GST |
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% |
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. 1,000 to Rs. 30,000 |
| Repayment Tenure | 4 months |
| Collateral Requirement | Not Required |
| ROI (Fixed/Floating) | Floating |
| Interest Rate | 2%-4% monthly |
| Processing Fee | Rs. 50 to 200 + GST |
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. 20,000.
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.