An mPokket Personal Loan can provide quick funds to college students, freshers, salaried employees, and self-employed individuals in India. Loan amounts range from ₹500 to ₹2,00,000, with flexible repayment options and interest rates starting from 2% per month.
To apply for an mPokket instant loan, you need basic KYC documents, proof of income or student status, an active bank account, and a smartphone.
mPokket Personal Loan Details
An mPokket Personal Loan can be useful when you need quick access to a small amount without lengthy paperwork.
Here are the main loan details:
| Loan Parameter | Details |
| Loan Amount | ₹500 up to ₹2,00,000 |
| Interest Rate | Starting at 2% per month (10% to 36% p.a.) |
| Processing Fee | ₹50 to ₹200 + 18% GST (varies by ticket size) |
| Repayment Tenure | Flexible options from 61 days up to 36 months |
| Disbursal Time | Direct bank transfer in less than 7 minutes |
| Process Type | 100% Digital / Online process |
mPokket Personal Loan Interest Rates
Interest rate is an important factor to check before taking a personal loan. The rate offered on an mPokket loan can depend on your profile, income, and other eligibility conditions.
| Loan Product | Interest Rate Range |
| mPokket Personal Loan Interest Rate | Starting at 2% per month (10% to 36% p.a.) |
Note: The interest rates mentioned above are subject to change at lender discretion.
mPokket Personal Loan Fees & Charges
Apart from the interest rate, check the processing fee, extension charges, and prepayment charges before applying.
| Fee Component | Charge Details |
| Processing Fee | ₹50 to ₹200 + 18% GST |
| Loan Tenure | 61 days up to 36 months |
| Loan Amount Range | ₹500 to ₹2,00,000 |
| Extension Charges | 1% of the outstanding loan amount |
| Prepayment Charges | 3% of the remaining loan balance |
mPokket Personal Loan Eligibility Criteria
mPokket offers loans to students, freshers, salaried employees, and self-employed applicants.
Here are the basic eligibility requirements:
| Eligibility Parameter | Requirement Details |
| Age Limit | 18 to 60 Years old |
| Minimum Monthly Income | ₹9,000 per month for salaried; flexible for students & self-employed |
| Citizenship | Resident Indian Citizen |
| Eligible Categories | College Students, Freshers, Salaried Employees & Self-Employed Individuals |
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Documents Required For mPokket Personal Loan
Keep the following documents ready before applying for an mPokket Personal Loan:
- Identity Proof: PAN Card, Aadhaar Card, Voter ID, Driving License, or Passport.
- Address Proof: Aadhaar Card, Bank Statement, Electricity Bill, or Telephone Bill.
- Income & Employment Proof: Salary slips for the last 3 months, Bank Statements, Form 16, or ITR/Business Income Statements.
- Student & Profile Proof: Valid College ID Card for student applicants and a live selfie for identity verification.
mPokket Personal Loan EMI Calculation
mPokket EMI Calculator makes it effortless to calculate your EMI for Personal Loan , allowing you to easily preplan your repayments, including the EMI for a mPokket personal loan.
For an mPokket Personal Loan, your EMI depends on:
- Loan amount
- Interest rate
- Repayment tenure
Enter these details in the EMI calculator to estimate your monthly repayment.
The EMI remains fixed during the selected tenure, helping you know how much you need to pay every month.
Comparison of mPokket Personal Loan Vs Other Bank& NBFCs
| NBFCs | INTEREST RATE (p.a.) |
| mPokket | 22% onwards |
| Paysense | 16.8% onwards |
| HDB Financial services | 11% onwards |
| CASHe | 20% onwards |
| Home Credit | 24% |
| Money View | 14% onwards |
| RBL Bank | 14% onwards |
Note: The interest rates mentioned above are subject to change at the lender’s discretion.
Apply for a Personal loan now!
Features & Benefits of mPokket Personal Loan
An mPokket Personal Loan can be used for urgent expenses as well as planned personal needs.
Here are some of the main features:
- Instant Disbursal: Approved funds are transferred directly to your verified bank account in under 7 minutes.
- 100% Digital Process: Apply, submit KYC documents, and complete the process online without visiting a branch.
- Zero Collateral: No property, gold, or other security is required.
- Flexible Usage: The loan can be used for tuition fees, medical expenses, travel, shopping, skill development, or gadget purchases.
- No Credit History Required: It can be suitable for first-time borrowers, students, and young professionals who are building their credit history.
Types of mPokket Personal Loans
mPokket offers different loan options based on the applicant’s profile and financial requirement.
mPokket Instant Loan for Students & Freshers
This loan can be used for education expenses, exam fees, hostel rent, or skill development.
- Loan Amount: ₹500 to ₹20,000
- Interest Rate: 2% to 4% per month
- Loan Tenure: Up to 4 months
mPokket Salaried Loan
This loan is meant for working professionals who need money for monthly bills or personal expenses.
- Loan Amount: ₹1,000 to ₹2,00,000
- Interest Rate: 2% to 4% per month
- Loan Tenure: Up to 36 months
mPokket Personal Loan for Self-Employed
This option is available for freelancers, gig workers, and shopkeepers who need funds for working capital or cash flow needs.
- Loan Amount: Up to ₹2,00,000
- Approval Time: In less than 10 minutes
- Documentation: Basic KYC and business/income proof
mPokket Low Salary Personal Loan
This loan is meant for individuals with lower monthly salaries who need quick cash.
- Loan Amount: ₹3,00,000 to ₹10,000
- Interest Rate: 3% to 5% per month
- Loan Tenure: Up to 3 months
How Do You Apply for mPokket Loans with Buddy Loan?
Steps To Apply For a Personal Loan with Buddy Loan
- Step 1: Visit buddyloan.com or Download & install the Buddy Loan app (Android or iOS).
- Step 2: Open the Personal Loan Application Page. Provide the mobile number and enter the received OTP.
- Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option
- Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
- Step 5: Enter your work details (Including company name, years of service and Designation)
- Step 6: Enter your personal details (Including Full Name, PAN, address DOB & Gender)
- Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.
Ready to take the next step? Apply for a Personal loan now!
mPokket Personal Loan Customer Care Number
mPokket provides customer support for loan-related queries, account verification, and repayment assistance.
| Customer Support Channel | Official Contact Details |
| Customer Support Hours | 9:00 AM to 7:00 PM (Monday to Saturday) |
| Customer Support Email | support@mpokket.com |
| Official App Download | Google Play Store (mPokket Instant Loan App) |
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