Students seeking hassle-free financial assistance for college can benefit from student personal loan apps. Using these apps, one can easily fill out an online form and receive the required funds directly in their bank account. Simply download the instant loan app for students to apply. Let's explore the top options for the ideal loan app for students.

Top Student Loan Apps in India

Here are India’s leading student loan apps:

• mPokket:

  The mPokket app is among India’s premier student loan apps, offering quick loans from Rs. 500 to Rs. 30,000. This app is suitable for students needing pocket money or emergency funds.

  Key Features:
  • Loans from Rs. 500 to Rs. 30,000 dispensed in 2 minutes.
  • Repayment tenure: 61 to 120 days.
  • Interest rate: 1 to 6% monthly.
  • Processing fee: Rs. 34 to Rs. 203 plus 18% GST.

• Pocketly:

  A top choice for students needing quick cash, Pocketly also serves salaried individuals and is accessible anytime.

  Key Features:
  • Loans from Rs. 500 to Rs. 10,000.
  • Repayment tenure: 61 to 90 days.
  • Interest rates: 1 to 3% monthly.
  • Processing fees: Rs. 20 to Rs. 120 + GST.

• KrazyBee:

  KrazyBee caters to students in select cities, offering online purchases with flexible monthly payments.

  Key Features:
  • Operations in major cities like Mumbai, Hyderabad, and Bangalore.
  • Shop online via KrazyBee’s platform.
  • Monthly purchase limit: Rs. 2,000.
  • EMI plans: 3, 6, 9, and 12 months.

Best Loan App for Students

This app offers loans to both students and salaried individuals from Rs. 1,000 to Rs. 3 Lakhs. Approved funds are quickly transferred to your bank.

• Loan range: Rs. 1,000 to Rs. 300,000.
• Tenure: 62 days to 15 months.
• Interest: 0 to 29.95% annually.
• Processing fee: 0 to 7%.

• Sahukar:

  An app-based platform providing personal loans to students, downloadable from major app stores.

  Key Features:
  • Loans from Rs. 100 to Rs. 5,000.
  • Tenure: 1, 2, and 3 months.

• SlicePay:

  SlicePay offers a no-fee VISA card for professionals and students, enabling purchases with delayed payments.

  Key Features:
  • Credit limit: Rs. 2,000 to Rs. 10 Lakhs.
  • Simplified bill payments over 3 months, no charges.
  • 2% cashback on transactions.
  • Quick fund transfers to bank or Paytm.

• CashBean:

  A leading platform for personal loans, helping students meet various financial needs.

  Key Features:
  • Loans from Rs. 1,500 to Rs. 60,000.
  • Tenure: 3 to 6 months.
  • Interest: 0.07% daily.
  • Processing fee: Rs. 90 to Rs. 2,000 plus 18% GST.

• BadaBro:

  BadaBro provides instant loans to college students and professionals above 18 years.

  Key Features:
  • Loans up to Rs. 10,000 to bank/Paytm accounts.
  • Flexible tenure: 61 to 90 days.
  • Interest: 1 to 6% monthly.
  • Processing fee: Rs. 34 to Rs. 203 plus 18% GST.

Features and Benefits of Student Loans

Online student loan apps make it easy for students and salaried persons aged 18+ with valid college ID to secure loans. Options like loan extensions and refinancing are available, aiding in credit-building when repaid diligently. Approved loans are swiftly credited to your account.

Eligibility Criteria for Student Loans in India

Full-time college students can apply for student loans requiring a valid ID and Aadhar. PAN cards may be requested by some lenders.