Phocket provides instant short-term loans | Fusion - WeRIndia

Getting a loan is not easy thing, especially if you don’t have any collateral to your loan, it is difficult to avail a loan.

Banks do not dare provide loans without collateral even though they don’t need any such instruments in certain cases.

Observing the financial needs of people, Delhi’s Phocket came into the industry.

Phocket is an online lending platform. It provides loans on its mobile app.

This startup provides instant short-term loans ranging from ₹5,000 to ₹1,00,000 with a duration of 7 to 45 days.

Phocket charges a flat 2.5 percent as interest per month.

Salaried employees of ₹15,000 or more per month can get these short-term loans to meet medical emergencies, marriage expenses, travel expenses, hotel booking and any unexpected expenses.

In order to get a loan, the borrower needs to fill a loan application online and submit necessary documents like ID proof.

internal credit check will be performed after which users will be informed whether they are eligible to avail the loan.

Physical verification process is there and their field executive will visit the potential borrower for finishing loan formalities.

Phocket offers Ambassador Program. it is very similar to an LIC agent model. The ambassador can promote Phocket within his or her network by way of different social media channels or through mouth publicity.

In return, they will earn money non-stop. The ambassador gets a commission of ₹50 on each completed application, and 20 percent commission from the processing fee on each successfully processed application.

Normally, a person takes loan multiple times. And, the ambassador will earn commission every time the application has been successfully processed and not just the first time.

This will continue forever, hence they can earn money non-stop.

The ambassador program is suitable for students, homemakers and others who prefer to work part-time or work from home.

 

Image Reference: Yourstory