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.

• 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.