| Interest rate | Up to 36% p.a. |
| Loan amount | Up to Rs. 2 lakh |
| Tenure | Up to 2 years |
| Processing fee | 3.75% of the loan amount |
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Key Highlights of the mPokket Personal Loan App
Detailed mPokket Personal Loan Interest Rate Slabs (2026)
As of 2026, mPokket personal loan interest rates ranges from 22% to 36% p.a., depending on the credit profile of the applicants. Since the customer segment that mPokket caters to carries a high credit risk due to no or limited credit history, the interest rates offered are higher compared to other lenders. Below mentioned is the detailed breakdown of personal loan interest rate offered by mPokket.
| Loan amount | Tenure | Interest rate (p.a.) |
|---|---|---|
| Rs. 1,000 - Rs. 5,000 | 6 months | 27% - 36% |
| Rs. 5001 - Rs. 45,000 | 1 year | 24% - 30% |
| Rs. 45,001 - Rs. 1 lakh | 6 months - 2 years | 22% - 30% |
| Rs. 1,00,001 - Rs. 2 lakh | 18 months - 2 years | 22% - 24% |
mPokket Rs. 50,000 Personal Loan Interest Rate Breakdown
For a personal loan of Rs. 50,000, mPokket offers personal loan interest rates ranging from 22% - 30% p.a. The lender sets its personal loan interest rates after factoring in the the weightage average cost of funds, opportunity cost of cash reserves, operating cost of processing fee, net credit risk premium, etc.
mPokket Personal Loan Eligibility Criteria
Indian nationals who are 18 years and above are eligible for mPokket personal loans. The lender might also assess the creditworthiness of the applicant based on the age, credit score, employment profile, and monthly income, etc. of its personal loan applicants.
Also Check: Personal Loan Eligibility for all banks & NBFCs
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Documents Required for mPokket App Approval
Below-mentioned are the documents required for the mPokket app approval:
Also Check: Personal Loan Documents List
mPokket Loan vs Alternative Micro-Lending Apps
| Features | Lenders | ||
|---|---|---|---|
| mPokket | Fibe | Navi | |
| Interest rates | Up to 36% p.a. | 18% p.a. onwards | Up to 29.96% p.a. |
| Loan amount | Up to Rs. 2 lakh | Up to Rs. 20 lakh | Up to Rs. 10 lakh |
| Loan tenure | Up to 2 years | Up to 3 years | Up to 7 years |
| Disbursal time | In 7 minutes | In 2 minutes | Instant disbursal |
Not sure which Personal loan app is right for you? Compare Kissht, KreditBee, Navi, and Fibe side-by-side on Paisabazaar and choose the option that best fits your needs. You can check key details in one place and apply online in just a few clicks without affecting your credit score.
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FAQs
How to get a personal loan from mPokket without income proof?
You can submit your bank statements or recent ITRs to avail a personal loan from mPokket if you do not have any income proof.
Is the mPokket loan app safe by RBI guidelines?
Yes, the mPokket loan app is safeguarded by RBI guidelines.
What happens if I do not pay my mPokket loan on time?
If you do not pay your mPokket loan on time, you will be charged a penalty and your credit score will drop drastically.
What is mPokket loan eligibility for self-employed individuals?
mPokket self-employed personal loan applicants should be Indian nationals aged 18 years and above.
How much CIBIL score is needed for the mPokket cash loan?
mPokket has not specified the CIBIL score required to avail a cash loan. However, applicants with a credit score of 760 and above usually have higher chances of getting their loans approved.
What is the minimum income required for an mPokket loan?
mPokket has not specified the minimum income required to avail its personal loan product. However, applicants having an EMI/NMI ratio below 55%, including the existing EMIs and EMI of the proposed personal loan, are eligible for mPokket personal loans.
What is the current mPokket loan interest rate in 2026?
The current interest rate of the mPokket personal loan ranges from 22% to 36% p.a.
Can I get an mPokket loan without salary slips?
Yes, you can get a mPokket personal loan without salary slips.
What are the foreclosure charges on an mPokket personal loan?
mPokket has not disclosed its foreclosure charges. However, the personal loan foreclosure charges usually range up to 4% only after a lock-in period of 1 year.
Personal Loan Articles
View All ArticlesPaisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners.
The APR (Annual Percentage Rate) of a personal loan is its annualised cost of borrowing, which includes the interest rate as well as the processing fees, documentation fees and other fees charged during the loan origination. The APR is expressed in the form of a percentage and thus, allows personal loan applicants to detect personal loan schemes offered at lower interest rates but with higher processing fees and/or other charges.
The APR of personal loans usually ranges between 11.29% to 35%. For example, assume that you have availed a personal loan of Rs. 5 lakhs @ 10.50% p.a. with a repayment tenure of 5 years. The processing fee charged for this loan is 1.5% of the loan amount, which amounts to Rs 7,500. Therefore, the total borrowing cost of your personal loan will be Rs 1,52,317 and its APR will be 11.16%.
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