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 -
Category |
Values |
Rate of Interest |
2% - 4% (monthly) |
Loan Amount |
₹500 - ₹30,000 |
Processing Charges |
₹50 to ₹200 + 18% GST (depending on the loan amount with a maximum APR of 48%) |
Repayment Tenure |
Up to 90 days |
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.
Year | Principal | Interest | Balance |
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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.
You can avail mPokket instant loan of up to ₹30,000 on Bajaj Markets.
You can enjoy hassle-free and quick mPokket Personal Loan approval without any collateral.
mPokket offers flexibility to select a repayment tenure of up to 90 days as per your needs and budget.
Once approved, you get an instant fund transfer to your bank account.
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.
Lending Partner Name |
Interest Rate Range |
Avail Laon |
30% p.a. Onwards |
||
14% p.a. Onwards |
||
15.95% p.a. Onwards |
||
18% p.a. Onwards |
||
21% p.a. Onwards |
||
15% p.a. Onwards |
||
10.99% p.a. Onwards |
||
11% p.a. Onwards |
||
16% p.a. Onwards |
||
24% p.a. Onwards |
||
14.50% p.a. Onwards |
||
14% p.a. Onwards |
||
9.99% p.a. Onwards |
||
2% p.m. Onwards |
||
12% p.a. Onwards |
||
1.5% p.m. Onwards |
||
10.99% p.a. Onwards |
Disclaimer: The above interest rates and loan amount may vary at the lender’s discretion and your loan application.
To apply for a mPokket instant loan online at Bajaj Markets, follow these quick and simple steps.
Application Form: Fill in all the mandatory and primary details in the online application form and attach supporting documents.
Choose the Lending Partner: Select mPokket as your partner for an instant loan. It is vital to have a lender who offers loans according to your budget.
Loan Details: Enter your loan amount and loan tenure, and select the EMI module to proceed with your mPokket loan process.
Approval & Disbursal: Once the documentation and verification process is completed, your mPokket Personal Loan will be approved. Once approved, the company will instantly transfer the loan amount to your bank account.
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
The mPokket Personal Loan interest rate ranges between 2%-4%. The interest rate you receive depends on your profile, credit history, etc.
To borrow an mPokket instant loan online, you can fill out an application form on Bajaj Markets or on the official mobile app of mPokket.
Yes, students can apply for an mPokket Personal loan. However, you will have to meet certain eligibility parameters and submit your college ID card with other documents.
Through Bajaj Markets, you can avail a maximum of ₹30,000 mPokket Personal Loan if you meet all eligibility parameters.
The minimum loan amount you can avail of from mPokket is ₹500.
A good credit score or credit history and healthy repayment record increase the chances of loan approval from mPokket.
The mPokket Personal Loan borrowing limit depends on your repayment capability, bank records, credit history, etc. If you hold a good track record, the company may increase the borrowing limit.
The registration process for mPokket Personal Loan is simple. You will have to fill out the form and attach documents. Ensure that you also mention KYC details and submit the application.
The maximum amount you can borrow with an mPokket personal loan is ₹30,000.
You can repay your mPokket Personal Loan using any of the online payment mediums, digital wallets, UPI etc.