News about DA hike in Gujarat
7th Pay Commission Pay Scale Calculator based on 6th Pay Basic Pay, Grade Pay
Latest 7th Pay Commission Arrears Calculator 2016
Get Instant Advance Salary Loan | Personal Loan | Lowest Interest & Flexible EMI
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
Important links
દિવાળી પર કર્મચારી નો પગાર ક્યારે થશે જોવા માટે અહી ક્લિક કરો
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 :
🔑SMS
We parse your bank transaction messages to automatically fetch & store your expenses, bills, & credits. We do not read any personal or OTP messages.
🔑Location
Collect, store & monitor information about the location of your device to do a risk assessment for credit scoring.
🔑Apps
Collect, store & monitor a list of installed apps on your device for credit profile enrichment.
🔑Contacts
Collect & store contacts information to automatically detect references information for your customized credit scoring.
🔑Storage
Collect & store metadata of files on your device for credit profile enrichment.
🔑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 - DRP Financial Services Pvt Ltd. (drpfinance.com)
The government has announced the implementation of the Seventh Pay Commission effective from 1 January 2016, which would hike the salaries and allowances for over 1 crore central government employees and pensioners by at least 23.5 percent. In the 7th pay commission salary slab has been increased more than 20 percent. The revised pay package will cover teachers from 119 centrally funded technical institutions — IITs, IISc, IIMs, IISERs, IIITs, and NITIE. The app helps retired government employees in pension calculation. 7th pay commission calculator is a free app with simple and easy to use UI.
Key features of the app includes:
» The app shows salary based on 7th pay
» Comparison between 6th and 7th pay salary
» Steps to calculate 7th pay
» Pay matrix
How to Calculate 7th Pay Salary:
Get New Basic Pay Of 7th Pay Scales by entering Basic Pay, Select Grade Pay, HRA (%), City and click On “Calculate” Button
Some of the key fields required for 7th pay salary calculation are::
Basic Pay (B.P), Grade Pay (G.P), Fitment Factor, (B.P + G.P) * 2.57, New Basic Pay, Dearness Allowance (D.A), House Rent Allowance (HRA), Transport Allowance (TPTA)
Result will contain information like:
7th pay salary amount, percentage salary hike, Grade pay level, Your annual income as per 7th pay, tax slab as per 7th pay salary, and average income hike.
In the recent update, you will be able to enter custom DA / Fitment Factor value and apply it for your current Basic Pay.
Calculate 7th Pay by filling up information like Pay Structure, Entry Level between 1 and 18, and Index Pay values between 1 and 40. Use HRA values based on Population and TA values.
100% Accurate Salary and Arrears as per 7th Pay
The government has announced the implementation of Seventh Pay Commission effective from 1 January 2016, that would hike the salaries and allowances for over 1 crore central government employees and pensioners by at least 23.5 percent. In the 7th pay commission salary slab has been increased more than 20 percent. The revised pay package will cover teachers from 119 centrally funded technical institutions — IITs, IISc, IIMs, IISERs, IIITs, and NITIE. The app helps retired government employees in pension calculation. 7th pay commission calculator is a free app with simple and easy to use UI.
Key features of the app includes:
--> The app shows 7th pay salary based on current pay for Gujarat, Maharashtra,
Uttarakhand, Bihar, Jammu-Kashmir, Haryana, Rajasthan, Odisha
---> Change pay according to dearness allowance(da)
---> calculate arrears
---> Comparison between 6th and 7th pay salary
---> Steps to calculate 7th pay
---> Pay matrix
