FAQs

Eligibility

mPokket provides loans only to college students and young salaried professionals. Below is the eligibility criteria to borrow money from mPokket:

1. If you are a college student and

- you have attained the age of 18

- you have valid college ID card

- you have Voter card/Driving license/Passport/Aadhaar as an ID proof

- you have PAN card (This is mandatory if you are producing Aadhaar card as an ID proof and optional for any other ID proofs)

2. If you are a young salaried professional and

- your age is less than 40 years

- you have Voter Card/Driving License/Passport/Aadhaar as an ID proof

- you have PAN card (mandatory)

- you have last 3 months bank statement

- you have last salary slip/ Offer Letter/ Joining Letter

If you are a college student, you will be assigned an initial borrowing limit of INR 500. Your borrowing limit may increase up to INR 10,000 over time.

If you are a young salaried professional, you will be assigned an initial borrowing limit of INR 1,000. Your borrowing limit may increase up to INR 20,000 over time.

Yes, mPokket provides loans to college students and young salaried professionals. You just need to download the app, verify your mobile number, complete KYC, submit your college ID proof and you can borrow instantly.

If you are a college student, you can borrow up to INR 10,000. If you are also working, you can borrow up to INR 20,000.

If you are a young salaried professional, you can borrow up to INR 20,000.

You need to produce following documents in order to avail loan

- you must have College ID card
- you must have voter Card/Driving License/Passport/Aadhaar as an ID proof
- you have PAN card (This is mandatory if you are producing Aadhaar card as an ID proof and optional for any other ID proofs)


You need to produce following documents in order to avail loan

- you must have Voter Card/Driving License/Passport/Aadhaar as an ID proof
- you must have PAN card (mandatory)
- you must have Company's ID card (must be working full time in a company)
- you must have salary slip (of the bank account where you receive your salary from your company)

No, it is mandatory to produce a few documents in order to borrow money from mPokket. Following are the documents required:

1. If you are a college student
- Valid College ID card
- Voter Card/Driving License/Passport/Aadhaar as an ID proof
- PAN card (This is mandatory if you are producing Aadhaar card as an ID proof and optional for any other ID proofs)

2. if you are a young salaried professional
- Voter Card/Driving License/Passport/Aadhaar as an ID proof
- PAN card (mandatory)
- last 3 months bank statement
- last 3 month's salary slip/ Offer Letter/ Joining Letter

Once you submit all the necessary information on the app, our system will validate the information and approve you for borrowing. This can take anywhere between 10 minutes to a few hours. If you are facing any delay in approval please write to [email protected] for help.

Yes, once your profile information is validated and approved you will be assigned a borrowing limit. Your may borrow the money instantly into your bank account or Paytm wallet.

Registration Process

You need to do the register on the app to take a loan. Please follow the following steps:
Step 1. Download the mPokket app from Google play store [provide google playstore link] or from here [provide direct download link]
Step 2. Verify your mobile number via OTP
Step 3. Sign up using Google/FB account
Step 4. Create your profile password
Step 5. Choose your occupation
Step 6. Upload your KYC documents and other information
Step 7. Create a selfie video
Step 8. Wait for your profile to get approved (this can take between 10 minutes to a few hours)
Step 9. Once notified of approval, borrow money instantly into your bank account or Paytm wallet

Please raise the device change request by filling out the required details on the contact us page or you can drop us an e-mail with the details on [email protected]

Please check:
- if the mobile number that you have entered is correct
- if there is some network connectivity issue at your end

Try restarting your device and retry OTP verification.

If the problem still persists, you can email us at [email protected] with your mobile number, problem statement and relevant screenshots (if any). Our customer support representative will get in touch with you to help resolve the issue.

Please send an email at [email protected] with your registered mobile number. Our customer support representative will get in touch with you to resolve the issue.

If you are a college student and
- you want to provide Aadhar card as your identity proof, providing PAN card is mandatory in order to avail loan
- you want to provide any other identity proof (Voter ID card/ Driving License/ Passport) as an ID proof, providing PAN card is not mandatory in this case

If you are a young salaried professional:
- Providing PAN card is mandatory in order to borrow money from mPokket

For a college student, providing college ID card is mandatory in order to borrow on mPokket.

You can provide your offer letter/ Joining letter if you don't have salary slip

If you are a salaried professional, it is mandatory to provide the bank statement of the account in which you receive your salary.

After you submit your documents, we will be verifying them at our end. If all the documents and details provided by you are correct and valid, it will take between 10 minutes and a few hours to get your profile approved.

No, you don't need to submit any hard copies of your document. The entire process of registering with mPokket is online and paperless.
You just need to fill in the required details and upload photos of required documents. Once your profile is approved you can borrow money instantly.

Please ensure that your face is clearly visible and speak the required words clearly. If the issue persists email us at [email protected] with your registered mobile number, problem statement and relevant screenshots (if any). Our customer support representative will get in touch with you to help resolve the issue.

Loan Transactions

You can borrow up to your assigned borrowing limit. As a college student your borrowing limit will be between INR 500 and INR 10,000. As a salaried employee your borrowing limit will be between INR 1,000 and INR 20,000. We analyze hundreds of variables to determine your borrowing limit at any given time. Transact regularly on the app to increase chances of increasing your borrowing limit.

You can borrow up to your assigned borrowing limit. As a college student your borrowing limit will be between INR 500 and INR 10,000. As a salaried employee your borrowing limit will be between INR 1,000 and INR 20,000. We analyze hundreds of variables to determine your borrowing limit at any given time. Transact regularly on the app to increase chances of increasing your borrowing limit.

Yes, you can choose to receive the boorrowed money in either your bank account or your Paytm wallet

You can borrow up to your assigned borrowing limit. We analyze hundreds of variables to determine your borrowing limit at any given time. Transact regularly on the app to increase chances of increasing your borrowing limit.

Please email us at [email protected] with your registered mobile number, problem statement and relevant screenshots (if any). Our customer support representative will get in touch with you to help resolve the issue.

Once you request the money in your Paytm wallet, it will be transferred instantly.

If you requested the money in your bank account it may take up to 30 minutes for the money to be credited (due to RBI norms). If you don't receive the money even after 30 minutes please email us at [email protected] with your registered mobile number and necessary details. Our customer support representative will get in touch with you to help resolve the issue.

If you requested the money in your bank account it may take up to 30 minutes for the money to be credited (due to RBI norms). If you don't receive the money even after 30 minutes please email us at [email protected] with your registered mobile number and necessary details. Our customer support representative will get in touch with you to help resolve the issue.

You can borrow up to your assigned borrowing limit. We analyze hundreds of variables to determine your borrowing limit at any given time. Transact regularly on the app to increase chances of increasing your borrowing limit.

Repayment

Go to the Activity screen on the app which displays a summary of outstanding loans. Click on PAY NOW option and you will be redirected to repayment page. You can choose to repay using yout Paytm wallet, Debit card or UPI.

Paying after your due date is considered bad behavior and impacts your borrowing limit and ability to borrow on mPokket. You will also be charged a daily penalty based on how many days your repayment is overdue.

Not repaying can have serious consequences. Every loan is backed by a legal contract that you digitally sign at the time you take the loan. Not repaying will lower your CIBIL score and will impact your ability to borrow from any institution in the future or get a job (you may fail employer background checks). We reserve the right to take all steps include legal action and sending people to your current or permanent place of residence to collect the dues.

You can chose to repay via your Paytm wallet, Debit card or UPI.

Yes, you can repay via Google Pay or Phone Pe.

Yes you can choose to repay using your Paytm wallet.

No, you cannot repay using a credit card.

Yes, you can choose to repay using your Debit card.

It may sometimes take up to an hour to process the repayment due to a delay at your bank's end with the confirmation. If the problem persists, please email us at [email protected] with your registered mobile number, necessary details, and screenshots (if any). Our customer service representative will be in touch with you shortly to help resolve the issue.

You can see all the open loans on the Activity screen in the app.

Yes, once you have repaid a loan, you can borrow again up to your eligible borrowing limit.

Borrowing Limit

You can borrow up to your assigned borrowing limit. We analyze hundreds of variables to determine your borrowing limit at any given time. Transact regularly on the app and repay your loans on time to increase chances of increasing your borrowing limit.

All approved users start with a credit limit of INR 500 for college students and INR 1,000 for salaried professionals.

Borrowing limits are decided by our proprietary credit algorithm, which takes into account hundreds of different variables.

Borrowing limits may decrease if your loans become overdue and are not repayed within the repayment duration. To avoid a decrease in your borrowing limit please repay on time.

The maximum credit limit for a college student is INR 10,000.

The maximum credit limit for a young salaried professional is INR 20,000.

Our algorithms analyze hundreds of variables to determine your borrowing limit at any given time. Transact regularly on the app and repay your loans on time to increase chances of increasing your borrowing limit.

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