A free loan matching service app for students
The mPokket app offers a free service for students. Students in India, or who are looking to take a student loan in India, are able to find and manage their loans through this student loan app. Though it is used in numerous countries, it only deals in Indian currency.
This student loan management app is similar to Auto Loan Calculator app in how you can calculate how much your student loans will cost. It also has tools similar to Easy Loan Calculator app because it lets you plan your repayments and plan for the future. This student lending app doesn't charge users for getting loans.
Is mPokket free?
The service is funded by affiliate money from lenders. You may be required to pay fees for things like advanced payments or applications, but they are paid to lenders. The app itself doesn't charge you for using the app or applying through the app.
Is mPokket real or fake?
The app and the service do exist, but it is not a lender, nor does it have any more authority than every other comparison website on the Internet. Some people may find it disconcerting to discover that this is not allied with any official lender; it is an affiliate-powered loan comparison app.
No messages or notifications
An app like this one should have messages and notifications to let people know if their applications have been successful or if their payments are overdue. However, this loan matching app has no such features.
The verification process takes a very long time
This finance app is only a loan-matching service, but it requires verification in the form of PAN cards, KYC details, college IDs, bank statements, and photo IDs like driving licenses. Gathering this information and verifying user profiles can take up to six weeks.
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