How much loan amount can I get?
You can avail a loan of up to Rs. 20,000 from PocketMitra. While the amount and tenure is subject to credit check, we offer loans to individuals with lower credit scores as well, to support financial inclusion.
What is the loan repayment tenure?
We offer repayment tenures for up to 90 days. You can avail single term as well as EMI loans from PocketMitra.
Who is eligible to apply for a loan?
To be eligible for a loan from PocketMitra, you need to be an Indian citizen aged 21 years or above.
How do I apply for a loan?
You can apply for a loan from PocketMitra by downloading the app from Google play store and registering with your mobile number linked with your Aadhar card and Pan card.
Do I need a credit score to get a loan?
Not necessarily. You can still get a loan even if you don’t have a credit score, especially if you’re new to credit. PocketMitra offers loan options for first-time borrowers with no prior credit history.
How soon will I receive the money?
Usually, loan applications are approved within a few minutes and disbursed within an hour. In some cases, it might take up to 24 hours for the loan amount to be credited.
What happens if I miss a payment?
Delayed payments would lead to overdue penalties levied on the loan amount. Alongside, this could lead to a negative impact on your credit score and decrease the chances of getting loans in the future.
Can I repay early?
Yes, you can make repayments before the due date in PocketMitra, without any prepayment charges.