mPokket: Instant Loan App — Complete Review & Guide (Updated: 2025)
Description: mPokket (एमपोकेट) is an instant personal loan app that provides quick credit from ₹500 up to ₹30,000. Loans are disbursed to bank accounts or Paytm wallets with minimal documentation. The app targets students and low-salaried employees looking for small-ticket credit and salary advances.
At-a-glance (Key facts)
| Attribute | Details |
|---|---|
| Loan Amount | ₹500 — ₹30,000 |
| Interest Rate | Approx. 0% — 4% per month (varies by profile) |
| Tenure | 61 — 120 days (typical short-term tenures) |
| Processing & Management Fees | ₹50 — ₹200 + 18% GST (depends on loan amount). Maximum APR shown ~142% (example-based). |
| Provider | Loans issued by RBI-registered NBFC: mPokket Financial Services Private Limited |
| Availability | Pan-India. App requires Android 6.0 and up. 10,000,000+ downloads. |
Why choose mPokket?
- Fast disbursal — small loans credited within minutes to bank or Paytm wallet.
- Designed for students and low-salaried employees — accepts college ID and modest salary levels (take-home ₹9,000+).
- Simple documentation and 100% online KYC flow.
- Support team and 4+ app rating (subject to app-store variations).
Key Features — Quick overview
| Feature | What it means for you |
|---|---|
| Instant Personal Loan (≤ ₹30,000) | Use for emergencies, travel, fees, or short cash needs. |
| Cash Transfer | Direct to bank account or Paytm wallet in ~minutes. |
| Flexible Repayment | Short-term tenures (about 2—4 months). EMI-like schedules for some loan products. |
| Rewards | On-time repayment benefits and possible offers for repeat borrowers. |
| Support | 24×7 support via email and in-app help. |
Fee & Example Calculation
Below is a concrete example provided by the app to understand total cost.
| Parameter | Value |
|---|---|
| Loan Amount | ₹2,000 |
| Tenure | 3 months |
| Interest (example) | 24% p.a. → ₹120 total interest |
| Processing Fee | ₹200 |
| GST on Fee (18%) | ₹36 |
| Total Repayment | ₹2,356 (inclusive of interest & fees) |
| APR (example) | ~71% (example-based; actual APR varies by offer) |
Note: Interest rates and fees depend on your credit profile, tenure, and the NBFC's policy. Always check the final repayment schedule before accepting a loan offer.
```Eligibility — Who can apply?
| Category | Eligibility |
|---|---|
| Students | Age 18+ and valid college ID card. Proof of enrollment required. |
| Salaried Professionals | Take-home salary typically ₹9,000+; bank salary credits or salary proof accepted (pay slips, joining letter). |
| Residency | Resident across India (PAN, Aadhaar & KYC required). |
Documents Required
- College ID card (for students).
- Last 3 months bank statement (showing salary or transactions).
- Salary slip or joining letter for salaried users (if applicable).
- Government ID (Aadhaar / Driving License / Voter ID).
- PAN Card & KYC details.
Important Links
| Link | Purpose |
|---|---|
| Official Website — mpokket.in | App, offers, contact & official info |
| support@mpokket.com | Customer support email |
| Google Play Store (search “mPokket”) | Download app — available for Android (requires Android 6.0+) |
| 📱 Download App (Google Play Store) | mPokket App on Play Store Use this Referal Code for ₹.100 Cash Back 👉 REFN42911758 |
| 🔗 Official Website (mPokket) | https://www.mpokket.in |
| 💬 Telegram Channel | Join Telegram Channel |
| 📢 WhatsApp Channel | Join WhatsApp Channel |
| 🌐 Follow on Facebook | Follow on Facebook |
FAQs
```| Q: Who issues the loan? | Loans are issued by an RBI-registered NBFC — mPokket Financial Services Private Limited. mPokket is the app/provider facilitating the loan offer and disbursal under NBFC rules. |
| Q: How fast is the disbursal? | Once approved, funds are generally credited within minutes to your bank account or Paytm wallet. Processing times vary by bank and verification checks. |
| Q: Are students eligible? | Yes — students 18+ with valid college ID and required KYC documents can apply for small loans. |
| Q: What happens if I miss repayment? | Missing repayment can attract late fees, penalties and negatively affect your credit score. NBFCs may report defaults to credit bureaus. Always read repayment terms carefully and contact support if you need assistance. |
| Q: How are fees & APR displayed? | All fees—including processing fee and GST—should be disclosed in the loan offer. APR in examples can appear high for short-term loans; check the final schedule before accepting. |
Pros & Cons
| Pros | Cons |
|---|---|
| Very fast small-ticket disbursals; student-friendly; minimal paperwork; 100% online. | Short-term loans can have high APR when fees are annualized; missing payments affects credit; limited to short tenures. |
Conclusion
mPokket is a practical solution for short-term credit needs for students and low-salaried professionals. Its main strengths are speed, simplicity, and student-focused eligibility. However, borrowers should carefully review the final interest, processing fees and GST components — short tenures and fixed fees can translate to high APRs. Use mPokket responsibly for genuine short-term needs and always compare offers from other regulated lenders if you plan to borrow frequently.
Final advice: Read the loan agreement, check the exact repayment schedule, and ensure timely repayment to avoid penalties and credit harm.
