mPokket Instant Loan App
Complete guide to mPokket instant loans with interest rates, repayment options, customer care, and user reviews
Priya Sharma
Fintech Expert
Interest Rate
0% - 4%/month*
Loan Tenure
61-120 days
Loan Amount
₹500 - ₹30,000
Processing Fee
4% + GST
- Instant approval in 10 minutes
- 100% digital and paperless process
- No credit score required
- Special loans for students
- Flexible repayment via UPI/Paytm
- Convert to EMI option available
What is mPokket?
mPokket is India's premier instant loan app designed specifically for college students and young salaried professionals. Founded in 2016, mPokket has revolutionized the digital lending space by offering quick, hassle-free loans ranging from ₹500 to ₹30,000 with approval times as fast as 10 minutes. The app has served over 5 million users and disbursed loans worth thousands of crores, making it one of the most trusted names in instant lending.
Who Can Apply?
College Students
- • Must be 18 years or older
- • Enrolled in a recognized college
- • Valid college ID required
- • Bank account mandatory
Salaried Professionals
- • Age below 40 years
- • Regular salary credits
- • Last 3 months salary slips
- • Company ID proof
Loan Products
Student Loans
Specially designed for college students to meet emergency expenses, tuition fees, books, or personal needs. No credit history required.
Salary Advance Loans
For young professionals who need quick cash before payday. Higher loan amounts available based on salary.
Emergency Loans
Instant approval for urgent financial needs with same-day disbursement to your bank account or Paytm wallet.
Pros and Cons
Pros
- Fastest approval in 10 minutes
- No credit score needed for first-time users
- 100% digital and paperless
- Student-friendly loan options
- Flexible repayment methods
Cons
- ✕Relatively higher interest rates (up to 4%/month)
- ✕Limited loan amount (max ₹30,000)
- ✕Short repayment tenure (max 120 days)
- ✕Processing fee of 4% + GST
How quickly can I get a loan from mPokket?
mPokket offers instant loan approval within 10 minutes. Once approved, the loan amount is disbursed immediately to your bank account or Paytm wallet. For first-time users, verification may take slightly longer.
Do I need a credit score to apply?
No, mPokket does not require a credit score for students. For salaried professionals, having a good credit score helps but is not mandatory. The app uses alternative data to assess creditworthiness.
What is the maximum loan amount I can get?
The loan amount ranges from ₹500 to ₹30,000. First-time users typically get ₹2,000-5,000. Your limit increases with timely repayments and can go up to ₹50,000 for select users with excellent repayment history.
Can I repay my loan before the due date?
Yes, you can prepay your mPokket loan anytime without any penalty charges. Interest is calculated only for the actual number of days you used the loan, so early repayment saves you money.
What happens if I miss my repayment?
Late payment attracts penalty charges of ₹100-500 per day depending on loan amount. It also negatively impacts your credit score and future loan eligibility. If you're facing repayment issues, contact customer care immediately.
Is mPokket safe and legitimate?
Yes, mPokket is a legitimate NBFC partner-based loan app registered with proper licenses. It uses bank-grade encryption for data security. The company is backed by well-known investors and has been operating since 2016.