No, there is no cancellation of loan once you have received fund in your respective Bank Account. If you have read the term and condition, it is mentioned in it.
For more queries you can file Grievance via
1.Customer Care-You can call to 03366452400 (9:00 Am TO 7:00 Pm) from Monday to Saturday.
2.Email ID: You can also write to mPokket at ([email protected]) by mentioning their loan account number and contact number in the email.
Table of Contents
What is mpokket app?
mpokket is digital platform that allows users to easily apply for and receive loans via smartphones it offers short term instant loans to student and young Individual.
it is primarily target the individual who need small amounts of money instantly for many kinds of reasons, like emergencies, personal needs, or educational expenses.
Is mpokket safe?
Yes, it is safe for loan for small amount, users can complete the entire loan application process online including submitting the required documents and getting approval. All your data is secure, only your phone number can be misused.
But before applying for the loan, keep some things in your mind like do not give your parents’ number or relatives, if you do then they will call your parent’s Many times a day to give the loan scheme and harassed them. they won’t stop calling them.
Is mpokket Real or Fake?
It is real loan app, registered as NBFC(non-banking financial company) with the RBI.it’s means RBI keeps an eye on its operations. mpokket gives you instant loan, you can complete the entire loan application process online including submitting the required documents and getting approval.it approved very fast, Funds are transferred immediately to the borrower’s bank account after approval.
Keep these things in mind to get instant approval for mpokket loan.
Here Is Some ID/Document Required For Complete Your Loan Application To Get Instant Loan Approval:
1. Valid Student Id: It Is Mandatory for student who want to take loan of small amount they don’t have to show 3-month bank statement they get instant loan for educational expenses. Valid Student Id (College/Institute ID (With Proper Address Detail Of Institution Included in ID))
2. Valid Government ID: It Is mandatory for all Individual , Whatever Your Loan Amount Is big or small you have to provide legal government ID like (You have Voter Card/Driving License/Passport/Aadhaar as an ID proof. Your have PAN card (mandatory))
3. Three-month Bank Statement: It is For Big Amount Loan, For This you have to show you are eligible for big amount loan by showing your credit or salary detail. For this you will have to show your 3 month Bank statement
4. Active Phone Number: For instant approval you need to provide active phone number and also provide an alternate number.
5. Live Selfie: You Also Have to Provide Live Selfie Of Your For KYC.
What happens if you don't pay your loan repayment of mpokket?
If for some reason you are not able to repay the loan then your credit will be ruined and they will call you many times in 24 hours for loan repayment.and If you do not answer their calls then they can also call your mother, father, your relatives and friends and they can spoil your image in front of everyone you know. Therefore, do not give them the numbers of your parents and relatives. Repay Their Loan If Possible.
How do I make Mpokket not call me?
you can’t Stop Them Calling you , If you want to block them but how many numbers will you block? They always call from different numbers and harass you. for that you can use TrueCaller App so that you know who is calling when he/she calls you. And You Can Disconnect Their Call. But They They won’t stop Calling, After this there is only one way left Repay Their Loan If Possible.
Will mPOKKET take legal action if we did not pay a loan?
Yes, they have all rights to file a civil suit in court or initiating criminal proceedings against you for not repayement of loan in time. You can request some more time from the bank to repay the dues but you can’t escape yourself from liability of repayment of your loans for any reason.
Therefore, you should read the terms and conditions before taking the loan. It explains what will happen if you are unable to repay the loan.
What are the advantages and disadvantages of taking a loan by using the mpokket app?
Taking a loan using the mpokket app has its advantages and disadvantages.
Advantages:
1. Instant Loan Approval: mPokkets provide an easy and quick way of obtaining money without a lot of paperwork.
2. Loan Without Showing Your Credit: mpokket app may provide access to loans for individuals who may not have a credit history or access to online banking services.
3. Flexible Loan: Borrowers may have the flexibility to choose loan amounts and repayment schedules that suit their needs.
Disadvantages:
1. High interest rates: Loans obtained through these apps often come with high-interest rates, which can lead to significant repayment amounts.
2. Debt trap: Without proper financial planning, borrowers may find themselves in a cycle of debt due to the ease of accessing funds.
3. Privacy and security concerns: Using such apps may involve sharing personal and financial information, raising privacy and security considerations. It’s important to carefully consider these factors and explore alternative options before taking a loan through mpokket app. Additionally, understanding the terms and conditions, as well as the potential impact on one’s financial health, it is crucial before making a decision.
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