Instant Personal Salary Loan

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About this app

Phocket is India’s most preferred AI based Instant Loan, Personal Loan & Advance Salary App for Salaried Professionals at the lowest interest rates with No hidden costs, 100% transparency & No collaterals. We are accessible both via Mobile App & Web ( The application process is super convenient, hassle-free & can be filled within 10 minutes. Documentation requirement is also minimal, Approvals are done instantly for completed applications & money is transferred directly to the bank account of the applicant.

Shop Now & Pay later - A loan option where you can Buy anything Now, Pay Later in EMIs. Via this option, you can avail e-vouchers on Phocket App on loan, purchase on Phocket's partner platforms Flipkart & Amazon & pay later in EMIs.

👉Salaried Professionals above the age of 20 years.
👉Minimum take home salary of ₹ 15,000.

Documents Required
📄 Address Proof (Aadhar, Passport, Driving License, Voter Id, etc)
📄 PAN Card
📄 Last 2 Months Bank Statement
📄 Latest Salary Slip

Key Highlights & Features
🔸Amount ranges between ₹ 5,000 & ₹ 2,00,000
🔸Annual Percentage Rate range from 0% - 36%
🔸Loan Tenure ranges from 62 days - 365 days
🔸Flexible Repayment EMI(s)
🔸Instant Approval & Disbursement
🔸No Collaterals, Fully Automated & Paperless
🔸Easy Online Process, Fast & Reliable services
🔸100% Transparency & No Hidden Charges
🔸Instant cash transfer in the provided bank account
🔸No Prepayment Charges
🔸Multiple Repayment Options

Here’s an example on how loans from Phocket work
Loan Amount: ₹ 20,000
Tenure: 3 Months
Interest: Flat 36% per annum
Processing Fees (incl. GST): ₹ 708
Disbursed Amount: ₹ 20,000 - ₹ 708 = ₹ 19,292
Flat Interest: ₹ 20,000 * 3/12 * 36% = ₹ 1,800
Total Repayment Amount: ₹ 20,000 + ₹ 1,800 = ₹ 21,800
Monthly EMI: ₹ 21,800 / 3 = ₹ 7,267
Total Cost of loan: Interest Amount + Processing Fees = ₹ 1,800 + ₹ 708 = ₹ 2,508.

Loan Amount: ₹ 5,000
Tenure: 3 Months
Interest Rate: 0%
Processing Fees: 0
In-Hand Amount: ₹ 5,000
Interest: ₹ 0
Total Repayment Amount: ₹ 5,000
Monthly EMI: ₹ 5,000 / 3 = ₹ 1,667

Interest rates and other charges
🔹Interest Rate range from 0% to 36%
🔹Late payment charges: We charge a late payment fee not exceeding 8.33% per month on the amount due, subject to a minimum of ₹ 500+GST
🔹Mandate reject charge: ₹ 250+GST.
🔹Bounce charges:₹ 500+GST
🔹Prepayment charges: 0
🔹Processing Fees (incl. of GST) ranges from ₹ 472 to ₹ 11800

The app requires the following permissions to function properly :
We parse your bank transaction messages to automatically fetch & store your expenses, bills, & credits. We do not read any personal or OTP messages.
Collect, store & monitor information about the location of your device to do a risk assessment for credit scoring.
Collect, store & monitor a list of installed apps on your device for credit profile enrichment.
Collect & store metadata of files on your device for credit profile enrichment.
Collect, store & monitor information about your device to uniquely identify the devices & ensure that unauthorized devices are not able to act on your behalf to prevent frauds.

Approval Process
✔️Loan Approvals happen instantly
✔️For first time users (new customers), an applicant needs to e-sign the loan agreement & give auto-debit authorization via net banking e-mandate. Once these formalities are completed, the disbursement happens the same day
✔️Loan amount will be transferred directly to the provided bank account of the applicant

Phocket is working with RBI compliant NBFC - Citra Financials Pvt Ltd.

Contact Us
For any kind of help or support, feel free to send an email to or call us at 8010700600
Updated on
May 8, 2024

Data safety

Safety starts with understanding how developers collect and share your data. Data privacy and security practices may vary based on your use, region, and age. The developer provided this information and may update it over time.
This app may share these data types with third parties
Personal info and Device or other IDs
This app may collect these data types
Location, Personal info and 6 others
Data is encrypted in transit
You can request that data be deleted

What's new

Some major bugs and issues fixed.