mPokket Personal Loan

mPokket offers instant personal loans between ₹500 and ₹30,000, without any collateral to students and young professionals. The company aims to make youngsters financially self-dependent and offers access to helpful financial services.

With the online application process, the company overcomes geographical limitations, which is especially beneficial for applicants in rural areas. You can apply for the mPokket Personal Loan on Bajaj Markets and enjoy instant disbursal. 

Read on to know mPokket loan details and more.

Check out the mPokket Personal Loan details in the table below -

Disclaimer: Above-mentioned rates and charges are subject to changes at the lender’s discretion. 

Currently, the mPokket personal loan interest rate ranges from 2% to 4% per month. 

The  personal loan interest rate you get dictates the feasibility of the loan. It is one of the major factors that influence the amount of your repayment instalment, i.e., the EMI. As such, a lower interest rate is generally preferred.

The mPokket interest rate for a personal loan is competitive, making it an affordable financing option for many. 

However, do note that the interest rate offered to you will depend on your credit history, bank records, your credit score/ CIBIL score and other factors. 

mPokket loan limit ranges up to ₹30,000. Basis that, interest rates, processing fees and other charges will influence the total cost of borrowing. The mPokket instant loan comes with a processing fee ranging between ₹50 and ₹200, excluding taxes.

The processing fee you will have to pay is mentioned when you apply for the mPokket student loan or loan for salaried applicants.

mPokket penalty charges apply, in case you make late payments or there’s any default.

The mPokket personal loan eligibility criteria are simple to meet, making it easy to get the loan you need. Here are the terms to note: 

• You must be an Indian citizen 

• You must be above 18 years old

• You must have a minimum monthly income of ₹9,000

• Your income must be credited into your bank account and not in cash form

Along with meeting the above personal loan eligibility criteria, you need to submit the following documents to apply for the mPokket loan. Apply online only after you have these documents to enjoy a seamless application process.

The required documents are:

• Passport-size photographs

• KYC details

• College ID for student applicants

• Identity Proof - Aadhaar card, Passport, etc.

• Address Proof - Aadhaar card, Utility bills, etc.

• Income Proof - bank statements, salary slips for the last three months, etc.

With competitive personal loan interest rates, you get affordable financing. However, to manage your finances better, you can use the online personal loan EMI calculator. This tool gives you an estimate of the EMI you will have to pay. 

To find the mPokket Personal Loan EMI amount, just enter the loan amount, interest rate, loan repayment tenure, etc. The tool will calculate your EMI estimate instantaneously, allowing you to quickly check the affordability before applying. 

Given below is an overview of the personal loan interest rates offered by partners on Bajaj Markets. Comparing the interest rate will enable you to get the funding you need at an affordable cost.

Disclaimer: The above interest rates and loan amount may vary at the lender’s discretion and your loan application.

You can avail of care services from Monday-Saturday between 10 am -7 pm. You can contact:

• Toll-free Number: 033- 6645-2400

• Email: support@mpokket.com