Frequently Asked Questions

Is Speel Finance Company Pvt Ltd an NBFC?

Yes, Speel Finance is an RBI registered NBFC.

How can I avail a loan from Speel Finance?

To avail a loan from Speel Finance, download the 'Pocketly' app. Pocketly is a Digital Lending Application. Speel Finance disburses loans through the Pocketly app.

Who can apply for a loan in Speel Finance?

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.

What is the advantage of availing a personal loan from Speel Finance 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, Speel approves 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, our services can be used to avail a loan at any time of the day because of our 24*7 online services.

What details are required to be submitted for availing a loan?

For loans upto Rs 2000, you only need to provide the following:    • Aadhar Card (We provide the option of submitting your Aadhar information through multiple ways: Manual Live Picture Upload, Aadhar XML or through Digilocker)    • PAN Card or Form 60.    • Selfie Video    • Permanent Address and Current address    • Two references contact (Parents, Spouse, Colleague, Friend, etc) For loans above Rs 2000 and upto Rs 35,000, you need to provide the following in addition to the above-mentioned documents.    • Employment proof (ID Card / Employment Agreement/ Offer Letter)    • Income proof; this may be either Bank Statement (We provide the option of submitting your Bank Statement through Account Aggregator or Manual upload) or Salary Slips However in any case, the Company may request you to provide more details if it feels it is necessary to properly underwrite your loan.

Where can I find details about the charges on a loan?

Before disbursing a loan to you, all the details of charges including interest, processing fees, penalty charges in case of delayed repayment are informed to you. Also before you confirm to take a loan, we share a draft Key Fact Statement and the Loan Agreement with you to review, where you are informed of all the charges. The Company will never ask you to pay for charges, those which are not mentioned in the Key Fact Statement.

Can I make a cash repayment of my loan?

No. We only allow online repayments through the Pocketly App.

What is the processing fees and interest charged on a loan?

Credit Line of 10,000/- Product EMI Products (min. from 5,000 and max upto 35,000/-)
Loan Amount 500 - 1,000 - 2,000 5,000 - 35,000
Processing Fee Rs 30 - 60 - 120 3 - 7 %
Interest 3 % per month 2 - 3% per month

What are the penal charges levied by Company in case of delayed repayment?

In the event that you are not able to make your payment on the due date as per your Loan Agreement, you attract penal charges on a daily basis on your loan. This amount is an ad valorem amount, as per your loan amount and it is levied on a daily basis calculated from the date your loan was due till the day your loan was actually repaid . For example, on a Loan of Rs 500, the penal charges are Rs 7 per day of default. For example, your loan was due on the 1st of the month but you have repaid on the 5th, you will be levied penal charges from the 2nd to the 5th, i.e = Rs 7 per day * 4 days = Rs 28/-. The penal charges are a way for the Company to encourage timely repayments, as that ensures you maintain a good credit score and a sound financial history with us, which in return will hep you in getting access to higher credit limit.

Can I avail a loan on my name and it be disbursed in someone else's account?

No. As per RBI guidelines, the NBFC can directly disburse the funds only in the account of the person availing the loan.

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.

Do you guys charge any hidden fees?

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

Where to reach out in case of any other query?

You can mail to for any query,help,complaint or feedback and we will attempt to resolve it.

If a recovery agent from Speel Finance asks me to repay my loan on his / her personal UPI Id or bank account, shall I go ahead with that?

No. Please note that we instruct our recovery agents to collect repayment only via authorised online repayment done through the Pocketly app. However if you are facing any issues in paying through the app, our recovery agents will assist you in making the payment through alternate channels such as NEFT or payment to UPI ID of the Company. However you should never make repayment to anybody's personal UPI ID as that will not qualify as valid closure of your loan. Also in case a recovery agent, claiming to call on behalf of Speel Finance asks for repayment into his / her personal account, kindly report the same to the Grievance Redressal Officer on :

Does Speel Finance sell my sensitive personal data to third party companies?

No. We do not sell any of our user's data.