• Mobikwik Personal Loan

    You can avail a personal loan using the Mobikwik app at attractive interest rates and flexible repayment tenure.

    Features of availing personal loan from Mobikwik

    • Minimum documentisation required
    • No need of any collateral or security in order to avail a personal loan from Mobikwik
    • Easy to apply and get a personal loan from Mobikwik
    • No restrictions on how you choose to spend your loan amount

    Benefits of availing a personal loan from Mobikwik

    • You can get cash to fund your trip
    • You can have cash in hand in case of any medical emergency
    • You can use the loan amount to gift something to your loved ones

    How to apply for a personal loan from Mobikwik?

    • Download the Mobikwik app and log in using your credentials
    • Click on Boost loan
    • The instant cash loan page will appear in front of you. Click on ‘I am interested’.
    • The next step will require you to enter the details of your Aadhaar, and your PAN number.
    • Mobikwik will then verify the documents submitted by you and check whether you are eligible to avail a personal loan or not. If you are eligible, then Mobikwik will show you the loan amount you are eligible for.
    • You will have the option of typing in the loan amount you wish to withdraw and click on ‘boost credit’.
    • The amount will reflect in your wallet as a ‘small loan’.

    Documents required in order to avail personal loan from Mobikwik

    • Aadhaar Card
    • PAN Card

    Eligibility criteria required to be fulfilled in order to avail personal loan from Mobikwik

    Mobikwik provides different types of personal loans depending on the type of customer and his/her financial needs. Hence, the eligibility criteria also differ from one loan scheme to another. If you meet the eligibility criteria set by Mobikwik, you can then avail the personal loan you are interested in.

    How to check my eligibility criteria?

    You can visit the official website (https://www.mobikwik.com/) of Mobikwik and enter your box available on the page and enter your mobile number and click on ‘Apply Now’. You will receive a One-Time Password (OTP) on your mobile number. Enter the OTP. You will then be logged in. You will then have to provide the details of your Aadhaar, and PAN Card and you can then check if you are eligible for a personal loan from Mobikwik.

    How to use the EMI calculator?

    Mobikwik provides EMI calculator so that you can check the EMIs you will have to pay on taking a personal loan. You can try different loan amounts, repayment tenure, and interest rates before applying for a personal loan from Mobikwik. Given below are the steps you will have to follow in order to use the Mobikwik EMI calculator:

    • Visit the official website of Mobikwik
    • Click on ‘Loan EMI Calculator’ located on the page.
    • You will be directed to a separate page.
    • You can enter different loan amount, repayment tenure, and interest rates. The calculator will show you the EMI you will have to pay on a monthly basis including the breakup of your EMI. If you are satisfied with the EMI you will be required to pay, you can click on ‘Request for Instant Loan’. Follow the steps thereafter and the loan amount will be disbursed to your wallet within minutes.

    FAQs

    1. What is the maximum loan amount I can avail from Mobikwik?
    2. The maximum loan amount you can avail from Mobikwik is Rs.1 lakh.

    3. What is the rate of interest and processing fee levied on my loan amount?
    4. The rate of interest levied on your loan amount will vary from 2% to 2.5% on a monthly basis. The interest rate levied on the loan amount will depend on your profile. The processing fee charged will range between 2% and 3% plus GST and will be deducted from the loan amount.

    5. What is the repayment tenure on availing a personal loan from Mobikwik?
    6. The different repayment tenures on availing personal loans from Mobikwik are given below:

      • Amount less than Rs.30,000: 6 months to 9 months
      • Amount equal to Rs.30,000 and above: 9 months to 12 months
    7. What is the date on which I will be required to pay the EMI?
    8. You will have to pay your EMI on the 5th day of every month. The EMI cycle is fixed.

    9. Do I need to submit a hard copy of my documents in order to avail a personal loan from Mobikwik?
    10. No, you are not required to submit any hard copy of your documents to Mobikwik. The whole process is digital, and the submission of documents are done online.

        

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