Top 6 Student Loan Apps in India for Easy Financing
Students aiming for straightforward financial support for college can turn to student personal loan apps. These apps provide a swift process to apply online and receive money directly into a bank account. Simply download an instant loan app for students to get started. Here’s a look at some top choices for student loan apps.
Leading Student Loan Apps in India
mPokket:
The mPokket app is one of India's foremost student loan options, providing quick loans ranging from Rs. 500 to Rs. 30,000, suitable for pocket money or urgent needs.Features:- Loan amounts: Rs. 500 to Rs. 30,000, within 2 minutes.
- Repayment: 61 to 120 days.
- Interest: 1-6% monthly.
- Processing fee: Rs. 34 to Rs. 203 plus 18% GST.
Pocketly:
Pocketly is a favored choice for quick funds, available to students and salaried employees.Features:- Loans: Rs. 500 to Rs. 10,000.
- Repayment: 61 to 90 days.
- Interest: 1-3% monthly.
- Processing fee: Rs. 20 to Rs. 120 + GST.
KrazyBee:
KrazyBee extends support for students in select locations, offering online buying with installment payment options.Features:- Presence in cities like Mumbai, Hyderabad, Bangalore.
- Online shopping through KrazyBee.
- Monthly limit: Rs. 2,000.
- EMI: 3, 6, 9, 12 months.
Best Loan App for Students
This app supports both students and salaried individuals, offering loans from Rs. 1,000 to Rs. 3 Lakhs, transferred swiftly to your bank account.
Features:- Loan amounts: Rs. 1,000 to Rs. 300,000.
- Tenure: 62 days to 15 months.
- Interest: 0-29.95% yearly.
- Processing fee: 0-7%.
Sahukar:
An app providing personal loans to students, available on all major app stores.Features:- Loan range: Rs. 100 to Rs. 5,000.
- Tenure: 1, 2, 3 months.
SlicePay:
SlicePay offers a fee-free VISA card to professionals and students, facilitating purchases with delayed payments.Features:- Credit limit: Rs. 2,000 to Rs. 10 Lakhs.
- No-charge bill payments over 3 months.
- 2% cashback on use.
- Instant transfers to bank/Paytm.
CashBean:
A significant platform for personal loans, aiding students in various financial scenarios.Features:- Loan amounts: Rs. 1,500 to Rs. 60,000.
- Tenure: 3 to 6 months.
- Interest: 0.07% daily.
- Fee: Rs. 90 to Rs. 2,000 plus 18% GST.
BadaBro:
BadaBro provides immediate loans to students and professionals aged 18+.Features:- Loans: Up to Rs. 10,000 to bank/Paytm.
- Tenure: 61 to 90 days.
- Interest: 1-6% monthly.
- Fee: Rs. 34 to Rs. 203 plus 18% GST.
Features and Benefits of Student Loans
Online student loan apps simplify loans for students and salaried individuals 18+, with valid IDs. They offer loan extensions and refinancing, aiding credit-building if paid on time. Approved loans credit quickly to your account.
Eligibility Criteria for Student Loans in India
Full-time college students can seek student loans with valid ID and Aadhar. A PAN card might be required by certain lenders.