Most Important Terms of Product

The Most Important Terms of Product (“MITP”) set out summary of the key terms in respect of the loan product made available by “Mpokket Financial Services Private Limited” (“Company”) to the Customer. The customer can request for availing loan(s) from the company through the Digital Lending App “mPokket”. The loan may be sanctioned at the sole discretion of the Company, basis risk assessment conducted by the Company, such sanctioned loan amount will be disbursed into the bank account of the customers. 


The specific terms for each of the loans disbursed by the company will be set out in the key fact statement, sanction letter and the loan agreement. 


  1. Annual Percentage Rate (APR)APR means the effective annualized percentage rate in relation to the loan availed by the Customer, specific details in respect of the APR are provided for in Key Fact Statement, Sanction Letter and Loan Agreement, for each loan availed by the customer.
  2. Processing fee: Cost of sourcing and handling the loan application is charged as processing fees ranging between 5-10% depending on the loan tenure.
  3. Default Interest Amount: In case of any delay/ non-payment by the customer in making payment of any outstanding dues, the company will charge default interest amount. The default interest charges will be levied depending on the total principal outstanding under all the loan(s) availed by the Customer which are overdue.
  4. Prepayment Charges: The Customer may at any time or from time to time prepay the total of the outstanding Repayment Instalments prior to the repayment Date. In case of prepayment after look-up period the customer shall be liable to pay proportionate interest upto the date of repayment and a prepayment interest equal to the proportionate interest from the actual repayment date to the repayment instalment due date.GRIEVANCE REDRESSAL PROCESS: In case of any grievance, the Customers can reach out to the grievance redressal officer of the Company. The details of grievance redressal officer appointed by the Company is set out below: mPokket Financial Services Private Limited – Grievance Redressal Officer – Raktim Addya Email – Tel No – 9748528353 Address– PS Srijan Corporate Park, Unit 1204, Sector V, Kolkata – 700091 Website link:


The MITP is subject to change at the discretion of the Company from time to time. Such change will be communicated to the Customer on the Customer’s registered Email ID or through this website. The Customer agrees that these changes will be binding on Customer in case Customer chooses to continue undertaking transactions after the date of intimation of such changes to the Customer.


The MITP sets out the summary of the key terms governing the loan product, and should be read with the following documents: 
  1. Relevant Sanction Letter issued by the Company to Customer in terms of the circular (No. DOR (NBFC) (PD) CC. No.112/03.10.001/2019-20 dated June 24, 2020 issued by the Reserve Bank of India); 
  2. Relevant Loan Agreement; 
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All capitalised terms not defined herein will have the meaning as set out in the relevant Loan Agreement.