# Instant Personal Salary Loan

Android app · by Phocket Infotech · Finance

Instant Personal Salary Loan has 3,835,343 installs, \#1,106 of 128,776 in Finance.

## Figures

- Installs: 3,835,343
- Rating: unrated
- Price: Free
- In-app purchases: no
- Rank: #24,093 of 2,756,105 by installs on Android
- Rank: #1,106 of 128,776 in Finance

## Description

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 (phocket.in). 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.  
  
Eligibility  
👉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  
Example  
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.  
  
Example  
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 :  
🔑Location  
Collect, store & monitor information about the location of your device to do a risk assessment for credit scoring.  
🔑Phone  
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  
  
Note  
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 info@phocket.in or call us at 8010700600

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Source: https://storetally.com/googleplay/com.phocket  
As of 2026-10-15, from the StoreTally census.