mPocket Loan Review

What Is mPocket?

mPocket is an instant online loan provider for students and young professionals to meet their emergency cash needs through its short-term personal loans. 

Salaried individuals can also get quick loans up to ₹30,000 at fast approval without any paperwork.

The advantages of taking a loan from mPocket are:

  1. The loan process is completely online and can be done using your mobile phone.
  2. You will get money in your bank account within a few minutes.

Type Of Loan You Can Avail At mPocket

Right now, mPocket offers the following loans – 

  1. Instant Loans For Students
  2. Instant Loans For Low-Salaried
  3. Instant Loans For Salaried.

Eligibility Criteria For Applying Loan At mPocket

  1. Must be an Indian citizen.
  2. You must be above 18 years of age.
  3. Have a valid student ID, Company ID.

Check Your Eligibility For mPocket Loan Here.

Documents Needed For Applying Loan At mPocket

  1. ID proof: PAN Card
  2. Student ID Card
  3. Address proof: Aadhaar Card

How Much Can You Borrow From mPocket?

A student can get an instant loan for up to ₹20,000 and salaried individuals can avail of personal loans up to ₹30,000, depending on your eligibility.

Rate Of Interest Of mPocket Loan

You will get the loan on interest rate starting from 3.5% per month.

How Long Does It Take To Get Your Loan From mPocket?

The loan application filling process at mPocket will take a few minutes

Repayment Period Of mPocket Loan

The repayment period for loans taken from mPocket is up to 60 days.

FAQs On mPocket Loan App

Q1. Is mPocket RBI Registered?

Yes, mPocket is an RBI registered, NBFC.

Q2. Is mPocket Safe?

Yes, mPocket loan app is safe and legit. 

Q3. Who Is Eligible For mPocket Loan?

Any students who reside in the serviceable areas, young professionals, salaried individuals.

Q4. How Can I Get A Loan From mPocket?

  1. Download mPocket App And Register from your mobile phone.
  2. You will get an OTP to verify your number.
  3. Once verified, create your username and password using your Google mail ID or Facebook account and set up your user profile.
  4. Complete your details like selecting your profession, uploading your PAN, Aadhar, etc. as directed and required to complete your KYC documents.
  5. Record a selfie video as instructed in the app.

Q5. How To Apply For A Loan In mPocket As A Student?

  1. Download mPocket App And Register from your mobile phone.
  2. You will get an OTP to verify your number.
  3. Once verified, create your username and password using your Google mail ID or Facebook account and set up your user profile.
  4. Upload proof of admission – mark sheet, college ID, letter of admission, etc. along with their KYC documents to get approved.

Q6. How Long Does It Take mPocket To Approve A Loan?

After you fill out the application form with your information which will take a few minutes.
 

Q7. What Is The Interest Rate of mPocket loan?

The rate of interest starts from 3.5% per month.
 

Q8. What Is The Maximum Loan A Student Can Get?

mPocket offers student loans for up to ₹20,000.
 

Q9. How To Repay mPocket Loan?

mPocket loans can be repaid using three modes:
2. Debit Card
3. UPI
 

Q10. What Are The Serviceable Areas Of mPocket Loans?

At present, mPocket provided loans to individuals who reside in Delhi, Bangalore, Chennai, Hyderabad, and Mumbai.
mpocket loan app

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