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mPokket Instant Loan - Instant Online Loan Mobile App

  • Writer: Shweta Tirki
    Shweta Tirki
  • Oct 19, 2024
  • 3 min read

Updated: Oct 19, 2024

Benefits of mPokket Instant Loan

  1. Loan Amount

    • ₹500 to ₹30,000

  2. Application Process

    • 100% Online

    • No paper work is required

  3. Tenure

    • Upto4months

  4. Interest Rates

    • 24%to48%p.a.

  5. Disbursal

    • Get disbursed in minutes

  6. Others

    • Instant personal loans for students

    • No collaterals needed



Eligibility Criteria Salaried

Age Group: 18+ years

Income Range: ₹9,000+

Documents Required:

  • Identity proof: Any one of the documents-PAN Card, Ration Card, Aadhaar Card, Voter ID Card, Driving License

  • Address proof: Any one of the documents - Aadhaar card, passport, Voter ID Card

  • Income Proof: Salary certificate, Recent salary slip, Employment letter

For Students: Valid College ID Card, PAN Card, Address Proof like: Voter card, Aadhaar, PAN, Driving license & Passport.


Other Eligibility Criteria

Customer must be an Indian resident


Application Process

Please keep the following documents and details handy to start the process

  • Your PAN card

  • Aadhaar card and

  • Bank account details



Let’s start!

  1. Install the mPokket app from the Google Play Store by clicking on the LINK and start the application journey

  2. Open the app and click on “Get Started”

  3. Give all the permissions to the app by ticking on “I Accept Permissions, Terms & Conditions ”and click on “Continue”

  4. Now enter your mobile number and click on “Send OTP”

  5. Enter the OTP received on your number and click on “Verify”




Creating Your Profile

  • Select your current status such as Student, Salaried and Self-Employed and click on “Continue”

  • To demonstrate, we are selecting current status as salaried, but you can choose your status accordingly, the process will be almost similar.

  • Skip the referral code by clicking on “I don’t have a referral code”

  • Now select your second preferred language other than English, like Hindi or any other language of your choice, and click on "Continue"

  • Click on “Agree” to give all the required permissions to the app and click on “allow” to all the permission requests

  • You will be redirected to the homepage of the mPokket app.

  • Click on the profile tab to complete your profile before applying for the loan

  • In your profile you will have to provide your KYC details, Basic Information, Employment details and Selfie Video.


Providing your KYC details

  • Click on the KYC verification option, upload your selfie photo, and enter your PAN number

  • Select KYC document type like Aadhaar Card and enter your Aadhaar number and click on “Send OTP”

  • Now you will receive an OTP on your mobile number linked to your Aadhaar card.

  • Enter the OTP and proceed

  • Now you will have to provide your basic information like name, gender, date of birth, marital status, highest qualification, parent's name and click on “Next”

  • Enter your permanent and current address details and click on “Next”

  • Now inform if this number is available on WhatsApp or not and also enter an alternate number and click on “Next”


Providing your employment details

  • Provide your employment details like Company name, Office Address, Office Pin Code and click on “Next”

  • Enter your monthly in-hand salary, designation, date of joining

  • Upload an employment proof such as Pay slip, Offer letter, Joining letter, Permanent ID or Appraisal letter and click on “Next”


Providing your bank account details

  • Enter the IFSC Code of your bank and click on “Next”

  • Now if you provide bank details of your salary account like IFSC code, Account holder name, Account number

  • Upload 3 months bank statement and click on “Next”

 

Recording a video

  • Now you will have to record a video of yourself in which you will have to read out a text displayed in the app and submit the video

Taking the loan amount in your account

  • After submitting all your details, go to the homepage of the app.

  • You can see your credit limit at the top of the screen

  • Choose the loan amount and tenure, click on “Request Loan”


The app will now show you loan and repayment details, after checking the details click on “Request loan”


  • Now choose bank account option and it will show you your verified bank details

  • Tap on your bank details to proceed further

  • Accept the Terms & Condition and click on “Confirm”

  • Now select the purpose of your loan and click on “Continue”

  • Tick on all the terms and conditions and click on “Agree”

  • Click on “View Contract” read the loan agreement and click on “ Agree”

  • Now enter the OTP and click on “Confirm Transfer”

  • Congratulations! Within 30 minutes, you will receive the loan amount in your bank account.


Help & Support FAQs

  • How can I get a loan while in college?

    mPokket, one of the best college loan app offerings in India, provides instant loan for college students who furnish proof of admission - mark sheet, college ID, letter of admission, etc., along with their KYC documents to get approved


  • What is the maximum loan a college student can get?

    mPokket, one of the best loan apps for college students in India, offers college students a maximum loan limit of


  • How can I get a small loan at 18?

    mPokket provides instant loan for college students who furnish proof of their college enrollment along with their KYC documents. If you're a young professional, you will have to submit your salary slips for the last 3 months along with your KYC documents


  • Can I get mPokket personal loan without any documents?

    No, it is necessary to provide a few documents to borrow money from mPokket, such as college ID card, ID proof, PAN card, bank statement of last 3 months, and salary slips of last 3 months/ Offer Letter/ Joining Letter


  • How do I check my loan status?

    Under the activity section in the mPokket app, you will be able to check the status of all your open loans


  • How much is the processing fee?

    Processing fee for this loan is ₹50 to ₹200 + 18% GST of the loan amount


Congratulations!

Now enjoy a better borrowing experience with mPokket!


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