Mobikwik Loan Guide: If you need a quick loan, MobiKwik offers instant personal loans up to ₹2 lakh within 30 seconds. Regardless of your profession, if you meet the eligibility criteria, you can secure a loan without hassle.
Mobikwik Loan Details
| Feature | Details |
|---|---|
| Loan Amount | ₹10,000 to ₹2,00,000 |
| Loan Tenure | 3 to 24 months |
| Interest Rate | 17.99% – 35.99% p.a. |
| Processing Fee | 2% of loan amount + GST |
| Disbursement Time | Within 24 Hour |
| Repayment Methods | Auto-debit, UPI, Net Banking, Debit Card |
| Prepayment Facility | No charge within 3 days, 3% thereafter |
| Credit Line Increase | On-time repayment can raise your credit line |
Benefits of Taking a Loan from MobiKwik
- Instant Loan Approval: Receive funds directly into your bank account within 30 seconds, with no paperwork.
- Flexible Repayment Tenure: Choose EMIs between 3 to 24 months as per your convenience.
- Easy Repayment Options: Pay via Auto-pay, UPI, Net Banking, or Debit Card.
- No Down Payment: Make purchases with zero upfront payment, reducing your EMI by up to 50%.
- Simple to Use: Withdraw funds as needed and pay minimal interest on the utilized amount.
Eligibility Criteria for MobiKwik Loan
To apply for MobiKwik’s ZIP EMI service, you must meet these criteria:
- Age: Minimum 18 years
- Citizenship: Indian resident
- Aadhaar-linked Mobile: Required for verification
- NACH Approval: Internet banking or debit card needed
- Income Source: Regular income, either salaried or self-employed
- Credit Score: Good credit history for timely loan repayments
- Documents Required: PAN card, Aadhaar card, mobile number linked to Aadhaar
- Bank Account: Active bank account for loan disbursement
Required Documents
- PAN Card: For identity and tax verification
- Aadhaar Number: For address and identity proof
- Mobile Number: Must be linked with Aadhaar for KYC
- Selfie Photo: Recent photo with a clean background
Interest Rates and Fees
- Loan Amount: ₹10,000 – ₹2,00,000
- Annual Interest Rates: 17.99% – 35.99%
- Loan Tenure: 3 to 24 months
- Processing Fee: 2% of the loan amount + 18% GST
- Prepayment Fee: 3% of outstanding principal after 3 days of disbursement
- Late Payment Charges: As per applicable terms
Step-by-Step MobiKwik Loan Application Process
- Download the MobiKwik App: Register with your mobile number.
- Complete KYC Verification: Upload PAN, and Aadhaar details, and complete video KYC.
- Verify Loan Amount: Check the eligible loan amount and confirm.
- Provide Bank Details: Share bank account details for loan disbursement.
- Set Up EMI Auto-Debit: Enable NACH for automatic monthly EMI deductions.
- Receive Loan Amount: After successful verification, receive funds instantly.
By following these steps, you can easily apply for a loan through MobiKwik’s ZIP EMI service and enjoy quick, hassle-free financing with flexible repayment options. Remember to make timely payments to maintain a healthy credit score and increase your loan eligibility for future borrowing.
