Understand mPokket Personal Loan repayment methods, charges, and timelines so you can manage repayments smoothly and avoid penalties.
mPokket Personal Loan targets students and young professionals who need short term credit with a simple digital process and quick disbursal. Borrowers must track the mPokket loan payment schedule and due date carefully to avoid penalties, credit issues, and collection reminders. mPokket Personal Loan repayment is straightforward if you understand the available payment methods, due dates, and charges linked to late payment or early closure.
Learn how to make your mPokket Personal Loan repayment on time using both online and offline options. Follow these steps to choose the method that suits you best:
Open the mPokket app and log in with your registered mobile number and credentials.
On the dashboard that appears after login, click on the ‘Activity’ tab at the bottom.
Scroll to the loan amount that you wish to repay and click on the ‘Pay Now’ option next to the amount payable.
Select the instalments pending to be paid and click on the ‘Pay Now’ button to proceed.
Choose a preferred mPokket loan payment method.
Available options usually include UPI, debit card, net banking, and sometimes wallets.
Confirm the amount, authorise the transaction, and wait for on screen and SMS confirmation.
Save the payment confirmation or receipt for future reference and repayment history tracking.
mPokket loan repayment via net banking using your bank account and secure credentials.
Online payment for mPokket loan using debit card or credit card, subject to issuer permissions.
Pay mPokket loan via UPI using apps like PhonePe, Google Pay or Paytm.
Enable auto debit where available to automate mPokket repayment on the due date.
Some partners allow bank transfer using NEFT or IMPS to mPokket’s designated account.
In selected cases, cash deposits at partner points or branches linked to the NBFC may be allowed.
Always use the correct loan ID or registered number as reference while making offline mPokket loan repayment.
Disclaimer: The steps and payment options listed above may vary based on mPokket’s latest policies. Always refer to the mPokket app or your loan agreement for the most accurate and updated repayment instructions.
mPokket Personal Loan usually follows a flat interest model with short tenures up to around 90 days. You should check the exact personal loan interest rate and tenure in the app before confirming the loan.
Steps to estimate your mPokket loan repayment:
Note the sanctioned amount, say ₹5,000, and the applicable interest rate for the chosen tenure.
Identify the repayment tenure, for example 30 days, 60 days, or 90 days.
Check processing fees or other charges, which are often deducted upfront from the disbursal.
Use a personal loan EMI calculator as a reference, even though the tenure is short.
Total repayment amount generally equals principal plus interest plus any applicable fees and taxes.
Simple example:
Assume a mPokket Personal Loan of ₹5,000 for 30 days with an illustrative interest cost of ₹300 and processing fee of ₹100.
You receive ₹4,900 in your account after deducting the notional fee.
On the due date, you repay ₹5,300 as your total mPokket loan repayment amount.
If the loan allows instalments, a personal loan EMI calculator can help split the amount into weekly or monthly instalments.
Always refer to the loan details section in the app because personal loan eligibility and rates vary by profile.
Key charges in mPokket loan repayment typically include interest, processing fee, late payment fee, and sometimes prepayment or foreclosure fee. Rates and charges can change, so always read the latest key fact statement and loan terms before confirming.
Here are some important points to take note of with regards to such charges and fees:
Personal loan interest rate on mPokket depends on risk profile, amount, and tenure.
Processing charges or convenience fees may apply per disbursal, often deducted upfront.
Late payment charges and penalty interest apply if mPokket repayment is not made by the due date.
mPokket loan prepayment or foreclosure process may involve a small fee or may be free, depending on current policy.
Some lenders cap foreclosure or prepayment charges as a percentage of the principal prepaid.
mPokket currently offers tenures up to around 30–90 days for many loans, so total interest cost stays limited but rates can be higher than long term bank loans.
This information is general and may not match the exact terms of your mPokket Personal Loan. Always check the mPokket app, loan agreement, and RBI guidelines before taking or repaying any loan.
You can check the mPokket loan statement under the “My Loans” or similar section in the app. It usually shows disbursed amount, interest, due date, and mPokket payment history.
Repayment history is visible in the app against each closed and active loan. Look for transaction or payment history, which lists each mPokket loan payment with date and amount.
Common mPokket loan payment methods include.
UPI based mPokket payment using popular apps.
mPokket loan repayment via debit card or credit card, subject to card rules.
mPokket loan repayment via net banking and bank transfer.
Auto debit, where the amount is pulled on the due date from your bank.
Missing an mPokket payment can lead to late payment charges and extra interest on the overdue amount. Persistent delay may hurt your future personal loan eligibility and can trigger recovery reminders or collection actions.
After each mPokket Personal Loan EMI payment, the app usually shows a confirmation screen and in app receipt. You can often download or screenshot the receipt or request an email statement from support.
Loan status is available in the “My Loans” dashboard in the app. It shows whether your mPokket Personal Loan is active, repaid, overdue, or under mPokket loan settlement steps.
The 30–90 days tag refers to short tenures where the core due date is usually 30 days, while display formats may show 30 plus 90 days in some screens. Practically, you must clear the mPokket loan repayment within the specific tenure confirmed at the time of sanction.
Many short term lenders encourage early closure and may waive prepayment penalties, but terms differ by product and time. Check the mPokket app’s mPokket loan loan‑closure procedure or key fact statement to confirm any foreclosure fee or mPokket loan part‑payment options.