mPokket Personal Loan


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.

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Table of Contents: mPokket Personal Loan

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.

₹
%
Monthly EMI ₹86
Principal Amount ₹1,000
Total Interest ₹32
Total Amount ₹1,032.00

Year Month Principal (A) Interest (B) EMI (A+B) Balance Loan Paid to Date (%)

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%

Read More

Read Less

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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?

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!

Frequently Asked Questions

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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