Get a mPokket personal loan for an incredible loan journey for students and salaried professionals in India. With loan amounts ranging from ₹500 to ₹30,000 and competitive interest rates starting at 2% per month, mPokket is a valuable place to opt for a loan.
It’s easy to meet the eligibility criteria for mPokket instant loan as you must have a valid bank account and a mobile device with access to the internet.
Table of Contents: mPokket Personal Loan
- ⇾mPokket Personal Loan Details
- ⇾mPokket Personal Loan Interest Rates
- ⇾mPokket Personal Loan Fees & Charges
- ⇾mPokket Personal Loan Eligibility Criteria
- ⇾Documents Required For mPokket Personal Loan
- ⇾mPokket Personal Loan EMI Calculation
- ⇾Comparison Of mPokket Personal Loan Vs Other NBFCs
- ⇾Features & Benefits of mPokket Personal Loan
- ⇾Types of mPokket Personal Loans
- ⇾How Do You Apply for mPokket Loans with Buddy Loan?
- ⇾mPokket Loan Repayment
- ⇾Frequently Asked Question on mPokket Personal Loans
mPokket Personal Loan Details
mPokket personal loan is a favorable option for individuals needing quick and easy cash access. Here is an overview of details you might need before applying for a mPokket personal loan.
| Interest rate | Starting at 2% per month. |
|---|---|
| Loan amount | ₹500 to ₹30,000 |
| Processing fee | ₹50 to ₹200 + 18% GST |
| Tenure | Up to 90 days |
mPokket Personal Loan Interest Rates
Interest rates play a pivotal role in determining your eligibility. Tailored to your financial needs, mPokket empowers you to access funds through their instant loan app.
With rates designed to meet your financial needs, the mPokket instant loan enables you to quickly and easily access the funds you require. mPokket personal loan interest rate can impact your eligibility, allowing you to achieve your goals and secure a brighter financial future.
| mPokket Personal Loan Interest rate | Starting at 2% p.a. |
|---|
mPokket Personal Loan Fees & Charges
Refer the table below for the fees and charges associated with a mPokket personal loan:
| Processing fee | ₹50 to ₹200 + 18% GST |
| Tenure | 61 to 90 days |
| Loan amount | ₹500 to ₹30,000 |
| Loan Extension Charges | 1% of the loan amount |
| Prepayment Charges | 3% of the remaining loan balance |
mPokket Personal Loan Eligibility Criteria
Presented below is the table highlighting mPokket personal loan eligibility criteria:
| Age | 18- 60 Years old |
| Income | ₹9000 Min Monthly Salary |
| Citizenship | Indian |
Documents Required For mPokket Personal Loan
Here are some of the documents required for a mPokket personal loan:
Identity Proof: Aadhaar card, PAN card, Voter ID card, Driving license, Passport.
Address Proof: Bank statement, Electricity bill, Telephone bill.
Income Proof: Salary slips for the last three months, Form 16, Business income statement.
Other Documents: College ID for student applicants, Selfie with ID proof.
mPokket Personal Loan EMI Calculation
The Buddy Loan EMI Calculator makes it effortless to calculate your Personal Loan EMI, allowing you to easily preplan your repayments, including the EMI for a mPokket personal loan. Simply enter the loan amount, interest rate, and tenure to receive immediate results.
With a mPokket personal loan, your EMI remains fixed throughout the entire loan tenure, regardless of any fluctuations in interest rates. Empower yourself with financial transparency and effectively manage your budget.
| Monthly EMI | ₹86 |
| Principal Amount | ₹1,000 |
| Total Interest | ₹32 |
| Total Amount | ₹1,032.00 |
Comparison of mPokket Personal Loan Vs Other Bank & NBFCs
The table below highlights the comparison of interest rates among NBFCs
| NBFCs | INTEREST RATE (p.a.) |
|---|---|
| mPokket | Starting at 2% per month |
| Paysense | 16.8% - 27.6% |
| HDB Financial services | Upo 36% |
| CASHe | 27% |
| Home Credit | 24% |
| Money View | 15.96% |
| RBL Bank | 17.50% - 26% |
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Features & Benefits of mPokket Personal Loan
A mPokket personal loan is a quick and easy way to access your required funds. Here are the features and benefits of a mPokket personal loan:
Fast and Easy Application Process
Apply loan online in just 15 minutes.
Flexible Loan Amount
You can borrow a loan amount of 50 to Rs. 30,000.
Flexible Repayment Tenure
Flexible loan tenure that ranges from 61 to 90 days.
Low Interest Rates
mPocket offers low interest rates of 1% to 6% per month.
No Hidden Charges
There are no hidden charges or fees.
Zero Collateral
0 requirement of a collateral to avail this loan.
Types of mPokket Personal Loans
Discover the range of mPokket personal loan options for you to consider:
Instant Loan For Students
mPokket instant loan for Students is a short-term loan that can cover unexpected expenses, such as tuition fees, books, or hostel fees.
- Loan Amount: ₹500 to ₹20,000
- Interest Rate: 2% and 4% per month
- Loan Tenure: Up to 4 months.
mPokket Salaried Loan
mPokket Salaried Loan is an easy loan available to salaried individuals with a monthly income of at least ₹9,000.
- Loan Amount: ₹1,000 to ₹30,000
- Interest Rate: 2% and 4% per month
- Loan Tenure: Up to 5 months.
mPokket Low Salary Personal Loan
mPokket low-salary personal loan is a quick loan offered to salaried individuals with a monthly income of at least ₹3,000.
- Loan Amount: ₹3,000 to ₹10,000
- Interest Rate: 3% and 5% per month
- Loan Tenure: Up to 3 months.
How Do You Apply for mPokket Loans with Buddy Loan?
Follow these steps to apply for a Prefr personal loan on Buddy Loan:
Step 1 - Visit - buddyloan.com or Download the Buddy Loan app and compare features.
Step 2 - Fill out the application form including the loan amount, the tenure months, and contact details.
Step 3 - Fill out the eligibility form and provide:
- Email Address
- Employment Type
- Company Type
- Industry Type
- Current Company Name
- Company Address
- Year of Employment
- Net Income
- Mode of Salary
- Pan Card Details
- Full Name (As Per Pan Card)
- Current Address with Pin Code
- Mobile Number
Step 4 - Cross verify the given information and submit the application.
Ready to take next step ?
Frequently Asked Question on mPokket Personal Loans
The minimum loan amount you can avail of from mPokket is ₹500.
mPokket Personal Loan is a short-term, unsecured loan available to students and salaried professionals in India. The loan amount ranges from ₹500 to ₹30,000 and can be repaid within 61 to 90 days.
Download the Mpokket app and create an account. Provide information about your income and upload a scanned copy of your PAN and Aadhaar.
To be eligible for a mPokket Personal Loan, you must be a citizen of India, between the ages of 18 and 50, and have a minimum monthly income of Rs.9,000. You must also be employed full-time and have a regular source of income.
You can get a loan of up to Rs. 30,000 from mPokket. The loan amount you are eligible for will depend on your income, employment, and credit history.
The maximum repayment tenure for mPokket Personal Loans is 90 days. The loan amount ranges from ₹500 to ₹30,000. The interest rate is 2% to 4% per month.
You must submit the following documents to apply for a mPokket Personal Loan: Identity Proof, Address Proof, Income Proof, College ID for student applicants, and KYC details.
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