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.
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 |
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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
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. 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.
Your Amortization Schedule (Yearly/Monthly)
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:
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?
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.
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