What are the key benefits of SBI Credit Cards?

SBI Credit Cards offer a wide range of benefits, including rewards, cashback, lounge access, discounts, and insurance coverage.

How can I apply for an SBI Credit Card?

You can apply for an SBI Credit Card online through the Paisabazaar platform, where you can compare card options and check for pre-approved offers.

What factors should I consider when choosing an SBI Credit Card?

Consider your spending habits, lifestyle, and financial goals to select a card that best suits your needs, such as travel, shopping, or rewards.

How can I manage my SBI Credit Card efficiently?

SBI Card offers a user-friendly mobile app and online banking services to help you manage your card, check statements, make payments, and access additional features.

What precautions should I take to avoid accumulating credit card debt?

Responsible credit card usage includes paying bills on time, managing credit limits wisely, and avoiding unnecessary spending to prevent debt accumulation.

Trusted by 1L+ Indians

Want to Achieve any of the below Goals upto 80% faster?

Dream Home

Dream Wedding

Dream Car

Retirement

1st Crore

Dream Home

Dream Wedding

Dream Car

Retirement

1st Crore

Trusted by 1L+ Indians

Want to Achieve any of the below Goals upto 80% faster?

Dream Home

Dream Wedding

Dream Car

Retirement

1st Crore

Dream Home

Dream Wedding

Dream Car

Retirement

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below
Goals upto 80% faster?

Dream Home

Dream Wedding

Dream Car

Retirement

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below
Goals upto 80% faster?

Dream Home

Dream Wedding

Dream Car

Retirement

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below Goals upto 80% faster?

Dream Home

Dream Wedding

Dream Car

Retirement

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below Goals upto 80% faster?

Dream Home

Dream Wedding

Dream Car

Retirement

1st Crore

mPokket App: Instant Personal Loans for Students & Pros

Home

Blog

mPokket App: Instant Personal Loans for Students & Pros

Mar 22, 2024

15 Mins

mPokket, a mobile application, has revolutionized the lending space by providing instant personal loans to college students and young salaried professionals in India. With loan amounts ranging from Rs. 500 to Rs. 20,000, individuals can conveniently access the funds through their bank account or Paytm wallet upon approval. The loans come with an interest rate of 1% to 6% per month and can be repaid within a flexible tenure of 3 months using a debit card, UPI, or Paytm wallet.

mPokket Personal Loan Details

Interest Rates: 1% to 6% per month

Loan Amounts:

- Rs. 500 to Rs. 10,000 for college students

- Rs. 1,000 to Rs. 20,000 for salaried professionals

Tenure: 61 to 90 days

Loan Processing Fee: Rs. 34 to Rs. 203 + 18% GST

mPokket App: Instant Personal Loan for College Students and Young Professionals

mPokket has introduced a seamless borrowing solution for college students and young professionals, offering instant personal loans of up to Rs. 30,000 to fulfill their daily cash needs or tide over end-of-the-month cash crunches. The entire process is online and can be completed within minutes. Interested individuals can download the app from the Google Play Store and easily apply for the loan, receiving the funds disbursed directly into their accounts. Currently, the mPokket app is exclusively available for Android users.

Features of mPokket Loans

The mPokket Loan app provides the following key features:

- Purpose: Empowering college students and salaried employees in India with personal loans.

- Flexible Loan Amount: Rs. 500 to Rs. 10,000 for college students and Rs. 1,000 to Rs. 20,000 for salaried professionals.

- Repayment Options: Paytm wallet, Debit Card, or UPI.

- Tenure: 61 to 90 days.

- Interest Rate: 1% to 6% per month OR 12% to 72% per annum.

- Processing Fee: Rs. 34 to Rs. 203 + 18% GST.

Documents Required for mPokket Loans

The documentation process for mPokket Personal Loans is completely paperless and online. The required documents vary based on the type of loan:

Documents Required for Instant Student Loan:

- Identity proof: Voter Card/Driving License/Passport/Aadhaar

- College ID card

- PAN card (mandatory if Aadhaar card is used as identity proof; optional for other identity proofs)

Documents Required for Instant Salary Loan:

- Identity proof: Voter Card/Driving License/Passport/Aadhaar

- PAN card

- Form 16

- Company's ID card

- Salary slip from the bank account where the salary is credited

Eligibility Criteria for mPokket Loans

Eligibility criteria for students:

- Must be 18 years old or above

- Must provide identity and address proof documents

- Must possess a college identity card

- Must be enrolled in a college or institution

- Must have a bank account

- Must own an android mobile device

Eligibility criteria for salaried professionals:

- Must be under 40 years of age

- Must receive their salary in a bank account

- Must provide salary slip and bank statement

- Must provide identity and address proof

- Must be working full-time in a company

- Must own an android mobile device

How Does the mPokket App Work?

mPokket offers personal loans to college students and young professionals, addressing their immediate cash needs or financial constraints towards the end of the month. Here's an overview of how the mPokket app functions:

1. Download the mPokket instant loan app from the Google Play Store.

2. Verify your mobile number using the OTP received.

3. Sign up or log in to the mPokket app using your Google or Facebook account.

4. Set a password and select your profession.

5. Submit your KYC documents online.

6. Salaried professionals need to provide bank statements showing salary credits.

7. Record a selfie video.

8. Receive loan disbursement within minutes.

How to Calculate mPokket Loan EMI?

Before applying for a loan, it's crucial to understand the repayment structure. Calculating the equated monthly installment (EMI) in advance is essential. To assist with this, you can use the Personal Loan EMI Calculator available on MyMoneyMantra's website. Simply input the loan details, including the mPokket interest rate, loan amount, and tenure, to calculate your personal loan EMI instantly.

mPokket Loan Customer Care

For any queries or grievances, mPokket offers dedicated customer care assistance:

- Helpline number: 033 66452400

- Online contact form: Fill out the form in the "Contact Us" section, providing details of your issue. An mPokket representative will promptly reach out to you.

- Email: support@mpokket.com.

mPokket Personal Loan Details

Interest Rates: 1% to 6% per month

Loan Amounts:

- Rs. 500 to Rs. 10,000 for college students

- Rs. 1,000 to Rs. 20,000 for salaried professionals

Tenure: 61 to 90 days

Loan Processing Fee: Rs. 34 to Rs. 203 + 18% GST

mPokket App: Instant Personal Loan for College Students and Young Professionals

Features of mPokket Loans

The mPokket Loan app provides the following key features:

- Purpose: Empowering college students and salaried employees in India with personal loans.

- Flexible Loan Amount: Rs. 500 to Rs. 10,000 for college students and Rs. 1,000 to Rs. 20,000 for salaried professionals.

- Repayment Options: Paytm wallet, Debit Card, or UPI.

- Tenure: 61 to 90 days.

- Interest Rate: 1% to 6% per month OR 12% to 72% per annum.

- Processing Fee: Rs. 34 to Rs. 203 + 18% GST.

Documents Required for mPokket Loans

The documentation process for mPokket Personal Loans is completely paperless and online. The required documents vary based on the type of loan:

Documents Required for Instant Student Loan:

- Identity proof: Voter Card/Driving License/Passport/Aadhaar

- College ID card

- PAN card (mandatory if Aadhaar card is used as identity proof; optional for other identity proofs)

Documents Required for Instant Salary Loan:

- Identity proof: Voter Card/Driving License/Passport/Aadhaar

- PAN card

- Form 16

- Company's ID card

- Salary slip from the bank account where the salary is credited

Eligibility Criteria for mPokket Loans

Eligibility criteria for students:

- Must be 18 years old or above

- Must provide identity and address proof documents

- Must possess a college identity card

- Must be enrolled in a college or institution

- Must have a bank account

- Must own an android mobile device

Eligibility criteria for salaried professionals:

- Must be under 40 years of age

- Must receive their salary in a bank account

- Must provide salary slip and bank statement

- Must provide identity and address proof

- Must be working full-time in a company

- Must own an android mobile device

How Does the mPokket App Work?

1. Download the mPokket instant loan app from the Google Play Store.

2. Verify your mobile number using the OTP received.

3. Sign up or log in to the mPokket app using your Google or Facebook account.

4. Set a password and select your profession.

5. Submit your KYC documents online.

6. Salaried professionals need to provide bank statements showing salary credits.

7. Record a selfie video.

8. Receive loan disbursement within minutes.

How to Calculate mPokket Loan EMI?

mPokket Loan Customer Care

For any queries or grievances, mPokket offers dedicated customer care assistance:

- Helpline number: 033 66452400

- Online contact form: Fill out the form in the "Contact Us" section, providing details of your issue. An mPokket representative will promptly reach out to you.

- Email: support@mpokket.com.