Money Pocket

Navigating financial needs has never been easier than with Money Pocket, the online loan application and credit platform designed specifically for professionals across India. Whether you're in need of a small loan to cover immediate expenses or a larger sum for significant investments, Money Pocket provides a seamless and secure way to access funds. Here’s how you can benefit from our services:

Key Features of Money Pocket

Loan Amounts and Interest Rates

• Loan Amounts: Apply for loans ranging from ₹1,000 to ₹200,000 to cover various financial needs.
• Interest Rates: Enjoy competitive interest rates from 0% to 29.95% per annum, making borrowing affordable and manageable.

Flexible Loan Tenure

• Tenure: Choose from flexible repayment periods ranging from 91 days to 15 months. This flexibility ensures that you can select a repayment schedule that suits your financial situation.

What is Money Pocket?

Money Pocket is an online platform that facilitates loan transactions between borrowers and registered Non-Banking Financial Companies (NBFCs) or banks. We do not directly participate in lending activities but provide a secure and efficient platform for NBFCs and banks to offer loans to users. Our primary partner, SRI CHAKRA INFOWAYS LTD, is a Systemically Important NBFC within the group companies carrying the Money Pocket brand, ensuring reliability and trustworthiness.

Loan Types Available

Standard Online Loan

Perfect for those who need a smaller loan amount, this option allows you to borrow between ₹1,000 and ₹50,000 for a tenure ranging from 91 days to 6 months. All you need is your PAN Card and Address Proof to get started.

Salaried Professional Loan

Designed for salaried professionals, this loan option provides amounts from ₹10,000 to ₹200,000 for a tenure ranging from 3 to 15 months. Required documents include your PAN Card, Address Proof, and Salary Proof.

Example Loan Calculations

Online Loan for Salaried

• Loan Amount: ₹50,000
• Tenure: 12 months
• Interest Rate: 20% per annum
• Processing Fee: ₹1,250 (2.5%)
• New Customer Onboarding Fee: ₹200
• GST on Fees: ₹261
• Total Interest: ₹5,581
• EMI: ₹4,632
• APR: 23.2%

The total amount to be repaid is ₹55,581, with the disbursed amount being ₹48,289.

Other Online Loan Example

• Loan Amount: ₹10,000
• Tenure: 3 months
• Interest Rate: 27% per annum
• Processing Fee: ₹500 (5%)
• GST on Fees: ₹90
• Total Interest: ₹453
• EMI: ₹3,484
• APR: 34%

The total amount to be repaid is ₹10,453, with the disbursed amount being ₹9,410.

Features and Benefits

1. 100% Online Process: The entire loan application and approval process is conducted online, ensuring convenience and speed.
2. Fund Safety: Advanced server security protects your funds and personal information.
3. Direct Bank Transfer: Loan amounts are transferred directly to your bank account for immediate use.

Eligibility Criteria

To qualify for a loan through Money Pocket, applicants must:

1. Be residents of India.
2. Be above the age of 18 years.
3. Have a stable monthly source of income.

How to Get Started

1. Install the Money Pocket App: Download the app from the Google Play Store or Apple App Store.
2. Create Your Account: Sign up by providing your basic details.
3. Check Eligibility: Fill out your basic information to check your initial eligibility.
4. Upload KYC Documents: Submit your ID, Address Proof, and PAN card.
5. Avail Loan: Once approved, choose to receive the loan as a bank transfer or E-voucher, depending on your preference.

Fees and Charges

Interest rates range from 0% to 29.95% per annum, with an equivalent monthly interest rate of 0% to 2.49%. A small processing fee is charged for loans, typically ranging from 0% to 7% of the principal amount, depending on the risk profile. Money Pocket also charges a one-time service fee during onboarding or upgrades, ranging from ₹20 to ₹350.

Money Pocket offers a reliable and efficient solution for accessing loans online. With competitive interest rates, flexible loan tenures, and a secure application process, Money Pocket stands out as a trusted platform for managing your financial needs. Whether you need funds for personal expenses or professional investments, Money Pocket provides a seamless and user-friendly experience. Download the Money Pocket app today and take control of your finances with confidence.