mPokket Personal Loan EMI Calculator

The mPokket loan calculator helps you compare different tenure and interest rate combinations to find the most suitable EMI option for your budget.

You can calculate your mPokket Personal Loan EMI using the following formula:

EMI =P×r×(1+r)n(1+r)n−1

Where:

• P: Principal loan amount

• r: Monthly interest rate (annual rate divided by 12)

• n: Loan tenure in months

Here is a detailed breakdown of EMI amounts for a loan of ₹2 Lakhs at a 24% interest rate, based on different tenures of up to 5 years:

*Disclaimer: The above values are for illustrative purposes only. Reach out to mPokket to check the actual EMI amount payable.

Here are some of the factors that influence the EMI value for your mPokket Personal Loan:

Loan Amount 

The loan amount is the first and most crucial factor that influences the mPokket loan EMI amount.  The bigger the loan amount will be, the higher the EMI value will become.

Loan Tenure

mPokket offers the facility to its customers to select the loan tenure as per their needs and budget. The duration of the personal loan is inversely proportional to the EMI value. The longer the loan tenure will be, the lower the EMI value will become.

Interest Rate

The interest rate applicable on the loan amount is decided by considering all the factors in an application. The higher the interest rate applicable on the loan, the higher the EMI value will be.

Applicant Profile

Your background, education, etc are taken into consideration to evaluate the interest rate and EMI amount.

Credit Score

Generally students and youngsters do not have a credit score, in such a situation bank records and defaulter records are evaluated in determining the EMI value amount.

Repaying your mPokket Personal Loan is simple with multiple convenient options:

• Automated Bank Transfers

Set up a direct debit with your bank to ensure your loan installment is automatically paid to mPokket on the due date

• UPI or Net Banking

Make quick and secure payments through UPI or net banking

• Debit Card

Repay your loan using your debit card via the mPokket app or website

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.