mPokket Student Personal Loan
mPokket is an online-based platform were lenders designed to provide instant personal loans with minimal documentation digitally.
Gaurav Jalan & Samarjit Choudhury Founder & CEO of mPokket.
On the basis of existing loan products, mPokket has been added new long-term installments, making the products more flexible and richer.
mPokket offers instant Short-term loans and Unsecured loans to fulfill various personal financial needs of young professionals & College Students.
mPokket Loans offers short-term loans and long term loans. Personal loan minimum duration of 1 month to a maximum duration of 3 months and amount from Rs 500 to Rs 20000.
mPokket Loans aims to become the first choice when it comes to quick and convenient Personal Loans for students. The documentation required is very minimal, and the entire process – starting from registration to loan disbursement does not take more than 15 minutes. The application process is completely online, and upon approval, the cash is immediately transferred to the bank account of the user.
mPokket Loan offers in the name of Payday Loans, Unsecured Loans, Short-term Loans, Long term loans.
mPokket Loan App: Interest Rates & Processing fees
mPokket Interest Rates:
mPokket Interest Rates: Starting from 1% to 6% per month (12% to 72% per year). Tenure is 61-90 days. For example, if the loan amount is ₹1,000 and the applicable annual interest rate 50%, the amount to be repaid at the end of the tenure of 90 days would be a processing fee plus interest of ₹1,000 x 50% x 90/365 = ₹123.
mPokket Processing Fee:
- Processing fees of ₹ 34 to ₹ 203 + 18% GST.
>>> Note: The processing fee and are deducted from your loan amount and the remaining amount will be disbursed to your account.
>>> Since there is some operational effort that goes into performing credit checks and sanctioning the loan, the processing fee is charged upfront from the loan amount. However, this is a standard practice followed by all financial entities.
mPokket Personal Loan Eligibility Criteria:
- Age of borrower: Any Indian citizen who falls in the age of 19 to 45 years can get the credit.
- Loan Amount: ₹ 1,000 to ₹ 20,000.
- Tenure: 30days to 90 days
- Income: To avail credit from mPokket, should be a student with college ID and young professionals must have a regular income.
- Credit score: Doesn’t require any credit history to avail of the credit.
mpokket Documents Required
List of required documents may differ based on many factors, here are the generic documents required for availing a mPokket Personal loan.
- Personal details
- College ID Card
- Reference Contact Details
- PAN Card and Address Proof (Aadhaar/Voter ID/Passport)
- Employment Details(Optional)
- Bank statement of salary account (Optional)
- Salary slips(Optional)
How to Apply for mPokket Personal Loan?
- Sign up using Mobile Number or
- Enter basic information & Check Eligibility.
- Complete the application process in 5 minutes
- Upload documents & Get your Profile verified.
- Provide Bank account details.
- Sign the loan agreement via digital signature online
- Get a decision from mpokket in 5-48 hours.
- Avail Loan in your Bank Account.
How to Repay mPokket Personal Loan Loan??
- mPokket Personal Loans can be repaid through different online modes like Cashfree, Debit card, UPI, Netbanking, and wallet.
- After Successful payment, the pop-up window was notified with Success.
mPokket loan Moratorium ???
mpokket EMI moratorium, due to pandemic finally if the customer does not repay the amount. mpokket waived off the overdue amount and provide offers to repay the amount.
mpokket Loan Moratorium Offers & Waiver on Overdue loans.
mPokket Customer Care Number
mPokket Supports 24*7 customer care. If you are not satisfied with the services provided by the application, you can contact the customer support line.
To raise your concern or complaint on mPokket customer service or mPokket Customer care email https://mpokket.in/contact-us/ or can directly reach out to with mpokket helpline numbers