: info@drpfinance.com : 011 - 43785506

DRP Finance is doing online digital lending via fintech platform Phocket owned by Phocket Infotech Private Limited.

     
URL : https://play.google.com/store/apps/details?id=com.phocket
App Name : Instant Personal Salary Loan
Developer Name : Phocket - Instant Access to Cash

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 and No collaterals. We are accessible both via Mobile App and Web (phocket.in). The application process is super convenient, hassle-free and can be filled within 10 minutes. Documentation requirement is also minimal, Approvals are done instantly for completed applications and 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 and pay later in EMIs.

Eligibility

  1. Salaried Professionals above the age of 20 years.
  2. Minimum take home salary of Rs. 20,000.

Documents Required

  1. Address Proof (Aadhar, Passport, Driving License, Voter Id, etc)
  2. PAN Card
  3. Last 2 Months Bank Statement
  4. Latest Salary Slip

Available Cities

  1. Delhi and NCR
  2. Bangalore (Bengaluru)
  3. Mumbai
  4. Gurgaon
  5. Noida
  6. Greater Noida
  7. Faridabad
  1. Ghaziabad
  2. Kolkata
  3. Jaipur
  4. Ahmedabad
  5. Chennai
  6. Pune
  7. Hyderabad
  8. Indore
  1. Ambala
  2. Chandigarh
  3. Vadodara
  4. Kochi
  5. Visakhapatnam
  6. Mangalore
  7. Lucknow

Key Highlights and Features

  1. Amount ranges between ₹ 5,000 & ₹ 2,00,000
  2. Annual Percentage Rate range from 0% - 36% for Amount between 11,000 - 2,00,000 and Installment is 3, 6 or 12
  3. Annual Percentage Rate range from 0% - 120% for Amount between 5,000 - 10,000 and Installment is 1 or 2
  4. Loan Tenure ranges from 62 days - 365 days
  5. Flexible Repayment EMI(s)
  6. Instant Approval and Disbursement
  7. No Collaterals, Fully Automated and Paperless
  8. Easy Online Process, Fast and Reliable services
  9. 100% Transparency and No Hidden Charges
  10. Instant cash transfer in the provided bank account
  11. No Prepayment Charges
  12. Multiple Repayment Options - UPI, Direct Bank Transfer, Paytm, PhonePe

Sample Illustration

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.
Interest = Rs.100,000 x 24%/365 x 90 = Rs.5917 and Total Amount payable would be Rs.100,5917.

Data Security & Privacy

  1. All the data is transmitted using secure HTTPS protocol
  2. All the transactions are secured via SSL encryption
  3. Implemented Multi-Level Authentication and Authorization to make the app Ultra Secure
  4. Got our App audited from a top Security and Audit Company
  5. Do not archive/store customer data for rejected applications

Approval Process

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

Achievements

  1. Moment of Fame at the Nasdaq Tower at New York's Time Square for successful disbursement of 2,500 loans.
  2. Shortlisted to represent India as an exhibitor at the Singapore Fintech Festival 2018 - the World's largest event for the fintech community.
  3. Covered by Yourstory (http://bit.ly/2W59z30)
  4. Adjudged Startup of the Year at YMCA MOB Business Summit and GBM 2018