PokketLoanCredit-Loan & Credit

This application provides a digital platform that enables users in India to access flexible credit line facilities offered by regulated lending partners.

Once approved, users may receive an assigned credit limit that can be accessed whenever funds are needed. Within the approved limit, users may withdraw funds partially or multiple times based on their financial requirements.

The platform allows users to review available credit, request withdrawals, view repayment schedules, and manage credit usage in one place.

Key Features

Flexible Credit Line

Users may receive an approved credit limit that can be accessed multiple times during the validity period.

Simple Digital Application

Applications may be completed online and may require identity verification and submission of supporting information.

Clear and Transparent Costs

Before accessing funds, users can review applicable interest rates, service charges, and repayment schedules provided by the lending partner.

Credit Facility Details

Subject to credit assessment and approval by the lending partner, credit facilities may be offered within the following ranges:

Credit Limit:

₹3,000 – ₹90,000

Withdrawal Tenure:

90 – 150 days per withdrawal

Credit Line Validity:

12 months

Interest Rate:

0.05% per day on the utilized amount

Processing Charges:

5% – 6% of the withdrawn amount

Documentation Charges:

1% of the withdrawn amount

Taxes:

GST at 18% applicable on service charges

APR Range:

8.76% – 29.69%

Interest is calculated only on the amount withdrawn and the duration of usage. Unused portions of the approved credit limit do not incur interest. Following repayment, available credit may be restored within the approved limit.

Representative Example

For a withdrawal of ₹10,000 for 120 days:

Principal Amount: ₹10,000

Interest: ₹600

Processing Charge (5%): ₹500

Documentation Charge (1%): ₹100

GST (18% on service charges): ₹108

Total Charges: ₹1,308

Total Repayment Amount: ₹11,308

APR: 29.69%

Actual charges may vary depending on the approved credit terms.

How the Credit Line Works

Users may complete an application, undergo verification, receive a credit assessment, access an approved credit line, make withdrawals, and repay according to the agreed terms.

Eligibility & Requirements

Eligibility and approval decisions are determined solely by the lending partner according to applicable regulations and internal risk policies.

Users may be required to:

• Be a resident of India

• Meet minimum age requirements set by lenders

• Provide valid identification and financial information

• Complete verification procedures when requested

Submission of an application does not guarantee approval.

Important Disclosures

This application operates as a technology platform connecting users with regulated lending partners. The platform itself does not provide lending services or make credit approval decisions. Credit limits, withdrawal approvals, interest rates, service charges, and repayment terms are determined by the respective lending partner and will be presented before users choose to access funds.

Data & Security

Personal data is processed in accordance with the Privacy Policy and applicable data protection regulations and may be shared with authorized lending partners and service providers when necessary to provide services.