Pocketly Loan
The Pocketly app offers instant short-term personal loans up to ₹25,000 to young salaried professionals, self-employed individuals, and students who need immediate funds for their daily needs or to overcome the month-end financial crunch. Pocketly loan can be easily repaid within a flexible tenure of 60 to 180 days at an affordable monthly interest rate starting from 2.5% to 3%. If you refer your friends to Pocketly, you can earn up to ₹10,000 in benefits.
Pocketly Loan Details
Below are the key details of the Pocketly personal loan:
| Loan Amount | ₹1,000 to ₹25,000 |
|---|---|
| Tenure | 60 to 180 days |
| Interest Rate | Starts from 2.5% to 3% per month |
| Processing Fees | 0% to 7.5% of the loan amount + GST as applicable |
| Referral Benefit | Up to ₹10,000 |
| Age | 18 - 24 years |
| Eligible Applicants | Salaried professionals, self-employed professionals, and students |
Features & Benefits of Pocketly Loan
- Instant personal loan up to ₹25,000 through the mobile app.
- With flexible repayment plans, you can repay on your own terms within a period of 60 to 180 days.
- Affordable interest rates starting from just 2.5% to 3% per month.
- No need to stand in long bank queues and go through endless paperwork.
- Short-term loans for young salaried/ self-employed professionals to meet their daily needs or to overcome the month-end financial crunch, and students needing tuition fees.
- Credit is just a tap away with the Pocketly money app.
- Once your KYC is approved, the loan amount is disbursed to your bank account within seconds.
- Zero physical documentation and online KYC, as everything is 100% digital.
- Spread the word about the Pocketly online loan platform by referring your friends to Pocketly and earn up to ₹10,000 in benefits.
- You can keep track of your ongoing loans, due dates, and credit limit through the app directly.
Pocketly Loan Interest Rates & Charges
The interest rate and charges applicable to the Pocketly loan are as follows:
| Interest Rate | Starts from 2.5% to 3% per month (30% to 36% p.a.) |
|---|---|
| APR | 30% to 132% |
| Processing Fees | 0% to 7.5% of the loan amount + GST as applicable |
Compare Pocketly Loan App with Other Loan Apps
Below is the comparison table for the Pocketly loan with other app-based personal loans:
| App Name | Loan Amount | Starting Interest Rate | Tenure |
|---|---|---|---|
| Pocketly | ₹1,000 to ₹25,000 | 2.50% per month | 6 - 12 months |
| Anytime Rupee | ₹2,000 - ₹3,000 | 0.1% - 1% per day | 2 - 6 months |
| mPokket | ₹500 – ₹50,000 | 2.00% per month | 6 - 9 months |
| Ram Fincorp | ₹4,000 - ₹2 Lakhs | 1.50% per month | 3 - 12 months |
| Kundan Finance | ₹5,000 - ₹2 Lakhs | 1.50% per month | 3 - 12 months |
| PayMe | ₹500 - ₹5 Lakhs | 1.50% per month | 3 - 24 months |
| Kamakshi Money | ₹1,000 - ₹2 Lakhs | 1.50% per month | 1 - 3 months |
| TrueBalance | ₹5,000 - ₹2 Lakhs | 2.40 % per annum | 2 - 12 months |
| PayRupik Loan | ₹1,000 - ₹1 Lakhs | Up to 36% p.a. | 3 - 12 months |
| Freo | ₹3,000 - ₹5 Lakhs | 13.00% per annum | 3 - 36 months |
Pocketly Loan Eligibility Criteria
Here is what you need to be eligible for a Pocketly loan:
- Salaried professionals, self-employed professionals, and students can apply.
- Salaried and self-employed professionals must have a minimum monthly income of at least ₹15,000.
- There is an age limit of 18 to 40 years.
Documents Required for Pocketly Loan
You must provide the following documents and details to apply for a Pocketly loan:
- Personal details
- Bank account details
- Verified email address
- Address proof
- Identity proof (PAN)
- Employment and salary proof
- Aadhaar (XML format)
Steps to Apply for a Pocketly Loan
Here is the process to apply for a Pocketly loan online:
- Download and install the Pocketly instant personal loan app.
- Sign up with just 2 clicks.
- Complete the hassle-free KYC process online.
- Upload the scanned copies of the required documents.
- Pocketly starts with a credit limit of ₹1,000. With timely loan repayments, you can make this limit go up to ₹10,000 in no time.
Pocketly Loan Customer Care Details
Below are the customer care details of Pocketly loan:
- Email: care@support.pocketly.in (Monday to Saturday, from 10 am to 7 pm, excluding public holidays)
- Contact number: +918064893000
- WhatsApp support number: 8904051555
Alternatively, you may also complain or report an issue through the Pocketly App. Tier team generally responds within 24-48 working hours.
FAQs
The Pocketly app is owned and managed by the RBI-registered NBFC called Speel Finance Company Private Limited.
You can get anywhere between ₹1,000 and ₹25,000, depending on your eligibility.
Yes, students can apply for a Pocketly loan.
The tenure for Pocketly instant personal loans ranges from 60 to 180 days.
Reshma Rawat is a passionate writer, with a decade of experience in writing for a variety of domains (finance, technology, lifestyle, e-commerce, real estate, etc.). Currently, she is working as Assistant Manager - Content @MyMoneyMantra, and writes blogs & webpages on financial products (loans, credit cards, insurance, financial policies by government, mutual funds, etc.
Abhijeet Singh has comprehensive experience in business writing, content management, SEO, social media and user analytics. Key areas of expertise include stock markets and personal finance.