Frequently Asked Questions

What is Pocketly?

Pocketly is a Personal Loan Platform for Young Indian individuals, where you can apply for a Loan of up to ₹ 35,000. Pocketly acts as a technology intermediary and facilitates the lending of Personal Loans from regulated lenders to individuals. The documentation is minimal. The application process is completely online, and on approval, the cash is immediately transferred to the bank account of the user.

Who can apply for a loan in Pocketly?

Any Indian individual above the age of 18,who is salaried or has a monthly source of income can apply for a loan through the Pocketly application.

Can a salaried person also apply for a loan in the Pocketly application?

Yes, any Indian individual above the age of 18 and is salaried can apply for a loan through the Pocketly application.

Does Pocketly have an NBFC Licence?

Pocketly has tied up with multiple RBI REGISTERED NBFCs. You can see the list on our website.

What is the advantage of availing a personal loan through Pocketly over a personal loan directly from a bank?

Banks usually take 2-4 days for the approval process and require the borrower to submit a lot of documentation. Whereas, Pocketly provides instant loans with less documentation. Everything is done online, no physical visit is required and the loan amount is transferred directly to your bank account or UPI. Moreover, Pocketly is a trusted application which can be used to avail a loan at any time of the day because of its 24*7 online services.

What are the different types of loans you can apply for using the Pocketly application?

Pocketly has 3 types of loan services i.e, for Non-Salaried, Salaried, and for Self-employed applicants. Non-Salaried: this is for the people who are not salaried but have some sort of income, this is a starter loan, to help you start off in your credit journey. Salaried: This is for individuals who have a salary of more than 15k. Self-Employed: This is for self-employed individuals with a monthly income of more than 15k.

What platform does Pocketly support?

Pocketly is available on Google Play Store and Apple App Store supporting all android devices and iOS devices.

What are the documents required to apply for a loan in the Pocketly application?

You have to upload your Aadhaar card along with your Pan card. Please note submitting the above is compulsory. Being a salaried individual you will be asked to share your bank statement along with your employee ID card.

How long does it take for me to avail loan from the Pocketly application? Being salaried or non-salaried.

Being salaried the loan amount may be disbursed in your specific bank account in 1 Day provided all documents and details are correct.Being non-salaried the loan amount may be disbursed in your specific bank account in 1 Hour provided all the documents and details are correct.

Is there any pre-condition for me to apply for the loan in the Pocketly application?

Yes, the Pan and Aadhaar card should be of the individual who is applying for a loan.

Do I need to complete my KYC every time I apply for a loan in the Pocketly application?

No, it is not necessary to upload your document every time you apply for a loan. It is a one-time process which you have to complete at the very beginning of your journey.

Is it necessary to have my mobile number linked to the Adhaar Card?

No,We have multiple options for Aadhar authentication, we can verify your KYC even if your mobile number is not linked with your Aadhar.

Can I get my amount transferred to someone else’s bank account?

No, you will have to add your bank account or your UPI ID only.

Is it possible to get the loan in a joint bank account?

Yes, it is possible to get the loan amount transferred to a bank account jointly held by you. However, you should be the primary account holder of that joint bank account.

Where is the loan amount disbursed?

The loan amount is disbursed directly to the bank account details which have been provided by you.

I am not able to login into the application once the registration is done.

Allowing access to the requisite permissions is necessary for successfully availing a loan. If you havent do so, enable the permissions asked by the Pocketly application in the “Settings” section and if the problem still continues then you can drop us a mail at helpdesk@pocketly.support.in and we shall resolve it for you.

I am facing technical issues while completing my profile.

Make a video of it or screenshot it and share it along with your registered mobile number and device model being used by you on helpdesk@pocketly.support.in and we shall reach you with a solution at the earliest.

My KYC documents are correct but my verification is still pending.

Try to upload a picture of your original document, capturing/uploading an existing picture from a mobile phone may not work.

Can I share my documents by mail?

No, we only accept the documents which are uploaded in the application by the particular individual.

Why has my profile been in verification for more than 24 hours?

Usually the profile should be approved within 30min after the updation of documents. However, in some cases, we may require more time to verify your profile. You can also write to us about this at helpdesk@pocketly.support.in and we will assist you with it at the earliest.

Why has my KYC been rejected?

There are multiple criteria we go through before the verification and if you do not fit in then our KYC team does not approve your KYC.

Why can’t I avail a loan of 10k directly at once?

To begin with, every customer is allocated a maximum disbursal limit up to which he/she can avail of loans on Pocketly, as per the parameters decided by our lending partners. With regular loan applications from Pocketly along with timely repayments, there is a good possibility that the maximum disbursal limit increases with time.

Do I get a loan agreement, along with the amount?

Yes, you get the loan agreement along with the sanction letter on your email id once the disbursal is done. On making a repayment of your loan, you get a tax invoice and receipt along with it in your mail.

I applied for a loan, but I did not receive the money immediately. Why?

There are some cases in which the verification takes up to 24 hours to approve and to disburse the loan amount into the bank account.

Is it necessary to complete my KYC in one go?

No, it’s not necessary to complete the KYC in one go, but we recommend you to do it one go as it is a seamless option.

Do you guys charge any hidden fees?

No. All our charges are transparent and communicated to the users upfront.

Can I create a profile on Pocketly even if I do not need funds presently?

Yes, you can. This will only advance the process when you need a loan in future.

How can I repay my loan?

As the Pocketly application is an online platform, we allow you to pay using three methods. i) Debit Card, here you can update your card details in the application and pay the loan. ii) UPI, here you can update your UPI details in the application and pay the loan. iii) Net Banking, here you can update your Net Banking and you can also use the QR code to pay the loan.

I paid the amount twice for the same loan and my payment got failed. What to do?

If you pay the loan amount twice and the amount gets debited twice from your bank account then you will get a refund of the extra debited amount. If the payment has failed, then the amount which was debited will be refunded to your bank account.

Is it possible for me to change my bank account and the UPI address I shared earlier?

Yes, it is possible for you to change your UPI address and Bank account details in the application.

How can I change my registered mobile number?

To change your registered mobile number you will have to mail us at helpdesk@pocketly.support.in with your registered number and the number which you have to replace it with.

How can I request a call from a Pocketly agent?

To request a call from us, you will have to mail us at helpdesk@pocketly.support.in or you can use our WhatsApp support to connect quickly.