Pocketly Personal Loan App Limit, Real or Fake, Is it RBI Approved?

Pocketly is a insant Personal Loan App that offers loans up to Rs.50,000. All loan applications available in India are approved by the RBI. There are many such apps that charge users higher fees while referencing the RBI and also harass individuals if they do not make timely payments. In this article will educate our readers about the Pocketly Loan app information about its eligibility, limit, RBI approved info and even its chagres.

Please note, this website is not associated with any loan application or loan provider nor do we endorse any content, we have no affiliation with any financial institution, company or organization. This article has been written only to share information related to loan. Do the necessary checks before doing any kind of financial transaction.

“I Personally not recommend you to take any loans, until you don’t have any source of repayments.”

What is Pocketly Loan App?

Pocketly is an Indian digital loan application that provides ianstant loans from Rs.500 to Rs.50,000, its main objective is to provide loans to the needy people without any zero documentation paperworks.

This application provides three types of loans: Personal Loan, Salaried and Self Employed.

Full NamePocketly Loan App
Loan LimitRs.500 to Rs.50,000
Interest Rate24%-36%
Age Limit18 Above
Timegap3 Months
Customer Care Number07949108803

RBI Approved or Not?

Pocketly Loan App RBI Approved or not 1

According to buddyloan, Pocketly Personal Loan App provides the facility of RBI approved loan lender which gives loans up to Rs.50,000 to its customers without any collateral. This app provides credit to its customers through NBFC registered by RBI.

It also is said that they have a tie up with NBFC registered by RBI, the list of which you can also see on their official website.

NBFCs Partners

  1. Speel Finance Company Private Limited
  2. NDX Financial Services Private Limited
  3. Fairassets Technologies India Private Limited

Amount & Age Limit

Any salaried and unemployed individual in India whose age is above 18 years can apply for instant loan credits through this application.

Customer Care Number

To troubleshoot any problem with pocketly personal loan app, you can call their customer support number 07949108803 or you can share your problem by emailing their email id helpdesk@support.pocketly.in.

Pocketly Personal Loan App Real or Fake

According to recent reports, many individuals and students are having problems after taking loans through loan apps in india. As a result, it is critical to consider whether the application via which you are doing financial transactions or obtaining a loan is legal or not. It is a legal application that provides loans through RBI approved NBFCs.

Repayments & Charges

To take an instant loan from Pocketly app, you have to pay first time processing fee ranging from Rs.20 to Rs.120, apart from this the interest rate is between 24-36% p.a. If you do not make timely repayment, you may have to pay late fees up to 15%.

Charges TypeAmount
Processing Fees4.2% + service tax
Loan Tenure3 months
Loan amount₹500 – ₹10,000
Foreclosure FeeN/A
Late payment fee & ChargesUpto 15%

Whai If Pocketly Loan Amount not Paid on time?

Pocketly Personal Loan App is a fantastic application when the loan it provides is repaid on time. In other words, if you take a loan from an application and repay it on time, it is not wrong for you.

If you obtained a loan from any application and not repay it on time, you might experience troubles. As a result, you can only take out a loan when absolutely necessary, or borrow money from your friends or family.

Also Read: 6 Things Before Getting a Paytm Personal Loan

Eligibility

To avail loan from this application, you must be 18 years of age and have government verified documents like PAN card and mobile number (not necessarily linked to Aadhaar card).

FAQs

What is Pocketly Loan App?

It is a loan application that provides loan credit ranging from Rs.500 to Rs.50,000 to individuals and students which can be transferred directly within the bank.

How much is the late fee?

If you do not repay on time, you may be charged late fees of up to 15%, so repay the loan on time.

What will happen if payment is not made on time?

In any loan app, if you do not pay the money on time then you can be harassed on phone calls with late fees, if you are not able to pay the loan then there is no need to take the loan in that situation.

Pocketly Loan App Is a legal or illegal?

This loan app provides loans through NBFC’s RBI registered lenders. According to sources, it is a legal app.

What is its official website?

To find out more information from its official website then visit https://pocketly.in.

Conclusion

Under difficult situations is considered as an easy way to take credits from loan apps, but the loan is only necessary if there is an income source to repay it, otherwise, the same easy ways will lead a worse conditions for you. As lending apps become more popular in India, Pocketly Loan App provides personal loans, but keep in mind that no app provides loans without fees and charges.

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