Here are a few factors

Rating 4.4 /
Total - 673 ratings
5
399
4
182
3
43
2
35
1
14
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
Easy Documentation, Smoother Proces

Required Documents to Apply for MPokket Instant Personal Loan

  • KYC of Applicant (Adhar Card+Pan Card+Passport Size Photo)
  • Last 3 month Salary Slip
  • Last 6 month Bank Statement in PDF
  • Form 16 of last 2 year
  • Rent Agreement if rented or Utility Bill if residence is owned
  • Sanction Letter of all current running loan if any
  • 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

Contact No. :- 033- 6645-2400 (Monday to Saturday: 10 AM to 6:30 PM)

Check More Details to Contact Mpokket

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
mPokket Instant Personal Loan

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
01
Visit Our Website

For the first step, you will have to visit our website to explore the loan options that fit your needs.

02
Select and Apply

Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.

03
Submit Your Document

One of the most important steps. Now you will have to submit all the required documents digitally.

04
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%
Leave Your Question

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.

RL Icon

Referloan Support

Consultant