mPokket

From small-ticket loans which start from Rs 500 to loans that may even go up to Rs 20,000, made available instantly via the mobile app, using proprietary credit models that take into account multiple unrelated alternate data points rather than traditional creditworthiness metrics.

Homepage markets "Approval in 7 mins" and "100% Online" processing, positioned as "Transparent. Reliable. Here for You."

College students in India who do not generally have any kind of income but need urgent small-ticket cash.

mPokket offers credit, insurance and career acceleration products to underserved youth, including working professionals and self-employed individuals.

Site lists freshers/interns, salaried employees, self-employed individuals and business owners as borrower segments alongside gender-specific (women/housewife) loan products.

Loans are made available instantly via mPokket's mobile app; users install the app, register, submit KYC and get approved within the app.

mPokket uses proprietary credit models that take into account multiple unrelated alternate data points to assess borrowers without traditional credit history.

The company limits the amount of money a student can borrow and tracks how they are spending that money to discourage reckless borrowing.

mPokket is a digital lending platform, which is generally considered safe for borrowing, as it is an RBI-approved NBFC (Non-Banking Financial Company).

mPokket uses proprietary credit models that take into account multiple unrelated alternate data points, rather than relying only on traditional creditworthiness metrics.

A processing fee of 4% + GST is levied, depending on the loan amount.

mPokket loan interest rate ranges from 2% to 3.25% per month.