Lokta

Lokta is a loan-servicing platform for lenders managing accounts after approval, rather than a system for starting or underwriting loans. It best suits banks, NBFCs, fintech lenders and lending service providers with operational needs across varied loan books. Its case rests on governed automation and a 24-month platform-fee waiver for eligible NBFCs, balanced against migration, integration and later usage costs.

Overview

Lokta covers servicing, monitoring, collections and recovery for personal, consumer-durable and BNPL, vehicle and EV, home, loan-against-property, business/MSME, and supply-chain or invoice-finance books. That breadth may suit lenders managing several products under one operation. It is not a fit for teams looking to bring origination, underwriting, credit decisions or origination-time pricing into the same platform.

Agents propose actions, but a deterministic core checks policy and approvals before any changes reach the ledger. Feeds are risk-rated and validated in a controlled path before they can write to the live book. Those controls are relevant where automated servicing touches sensitive records, although they do not replace the lender's own policies and oversight.

Key features

Integrations and deployment

Connections span NACH and UPI rails, payment aggregators, core banking and escrow, credit bureaus, co-lending partners, collection agencies and WhatsApp channels. Supported model choices include OpenAI, Anthropic, Google Gemini, Meta Llama, Mistral, Cohere and self-hosted open models, giving lenders a range of options for the agent layer. Lokta can run on AWS, Microsoft Azure, Google Cloud, on-premises or in a customer virtual private cloud.

Governance and security

Controls include Keycloak OIDC/OAuth2, role-based access, maker-checker workflows, structured audit trails, schema-per-tenant PostgreSQL isolation, field-level PII encryption, TLS and optional mTLS. Tenants can pin deployments to a region, with separate deployments for each residency boundary. This control set and the feed-validation process make Lokta more relevant to lenders with deployment and audit requirements than to organizations seeking a lightweight standalone loan tracker.

Payment scheduling, borrower portals, API access and both interest-calculation methods are supported. These are useful servicing building blocks, but they do not change the platform's post-approval boundary.

Pricing

The stated starting price is ₹1,000/mo. The programme pricing is more specific for qualifying NBFCs:

• Lokta Next 100: free, with a ₹0 platform fee for 24 months. Eligibility is limited to NBFCs with AUM up to ₹100 crore at enrolment and excludes pure-play microfinance NBFCs. Migration costs ₹1 lakh one-time plus applicable taxes; bank integration costs ₹50,000 plus applicable taxes.
• Lokta Next 100 after free term: ₹1 a month, billed at 1 bps per month on AUM (₹1,000 per crore), plus applicable taxes. This begins after 24 months or when average monthly AUM exceeds ₹100 crore for two consecutive months. AI usage is metered separately.

The waiver makes the programme worth considering for an eligible lender able to absorb the upfront migration and integration charges. It is not cost-free implementation, and the AUM-based charge plus separately metered AI usage matter when forecasting operating costs. Lenders outside the stated eligibility should not assume the programme terms apply.

Lokta says bureau reporting, email support and phone support are included in Next 100. The company begins adoption with a drift audit before anything moves and uses founder-led onboarding with a small cohort of lenders. That approach puts an initial assessment ahead of migration, but may be less suitable to buyers seeking a broad, self-serve rollout.

Platforms

Lokta supports API, Linux, self-hosted and web deployments. Its cloud, on-premises and virtual-private-cloud options give lenders choices for where the system runs, while regional deployment pinning addresses residency boundaries.

Who it's for

Lokta is best suited to banks, NBFCs, fintech lenders and lending service providers that need servicing and recovery operations across one or more supported loan types, and that value policy gates around agent-driven ledger changes. Eligible NBFCs within the Next 100 AUM threshold may find the free platform period compelling if the migration and integration charges fit their budget.

Look elsewhere if the priority is loan origination, underwriting or credit decisioning, or if a lender cannot accommodate the AUM-based post-waiver fee and separately metered AI usage.

Pros and cons

• Pros: Broad loan-book coverage supports lenders with varied portfolios rather than just one lending niche.
• Pros: Policy and approval checks gate proposed agent actions before ledger changes, while feeds are validated before live writes.
• Pros: Multiple deployment environments, regional pinning and explicit security controls suit organizations with infrastructure and data-residency constraints.
• Cons: Origination, underwriting, credit decisions and origination-time pricing are outside scope, so Lokta cannot cover the full lending lifecycle.
• Cons: Next 100 carries substantial one-time migration and bank-integration charges despite the platform-fee waiver.
• Cons: After the free term, charges scale with AUM and AI usage is separate, making ongoing cost depend on both portfolio size and usage.

Alternatives

For a broader category shortlist, see Loan Management Software.

• UnPay Loan Management System is worth considering if a freemium option with Android and iOS support is more important; its free Build plan includes 15 products in a sandbox, 480 API endpoints and community support.
• Frappe Lending suits buyers who want a self-hosted, GPL-3.0-licensed option, or a hosted Frappe Cloud Sites plan from $5 a month.
• FIS Data Integrity Manager is another paid, web-based option.
• The Mortgage Office is another paid option with API, macOS, web and Windows platforms.
• Margill Loan Manager may suit teams that prefer a loan-count- and user-based pricing model, with a free trial and SaaS or web monthly fees.
• Nortridge Loan System may suit lenders connecting an existing LOS for servicing and repo; its integration plan charges $10 per funded application, with a $300/month minimum and a variable setup fee.
• Bryt offers a Business version for up to 10 active loans and an Enterprise version for unlimited active loans, with add-on modules priced separately.
• Canopy is another paid, API- and web-based option.

Verdict

Choose Lokta if you are an eligible lender focused on post-approval servicing and want agent proposals governed before they affect the ledger. The Next 100 platform-fee waiver can help justify a closer look, but migration and bank integration are charged upfront and ongoing fees follow the programme's AUM and AI-usage terms. Choose another system if origination or credit decisions are central to your requirements.