Best Loan Apps For Students: There are many best loan applications in India. However, if you are a student, you cannot get a loan from them. To have enough money, students still do not work full time, and in India, children mainly depend on their parents until they start working.
Students may run out of money trying to cover additional expenses, and they may also need money to buy books, enter competitions, etc. Student personal loan applications make it easier for them to get the money they need to pay for college. With these online student loan applications, you can apply for a loan and have the money sent directly to your bank account.
Download the student loan application form from any Rapid Loan app. Continue reading to learn about the top loan applications for students. you may also visit: SBI Education Loan in 2024
Best Loan Apps For Students
Many students in India have used the best loan apps to borrow money to buy good study materials, buy new phones or laptops for school, pay school fees, plan a vacations, and many more.
In India 2024, there are a lot of instant loan apps that make it easy and quick to get money instantly to help you reach your goals or deal with financial emergencies.
This blog has compiled a list of the best loan applications in India. Read this post about the best Indian apps to get a personal loan as soon as possible in 2024. you may also check: How to Take an Education Loan in 2024
Why Should Students Use Student Loans?
We cannot always depend on our parents to give us the money we need, because they may not have enough money all the time. We also sometimes have to pay for things like extra classes, coaching, field trips, or other costs.
In such a situation, a student loan app will be helpful. Student loan applications can often help you get funding quickly and with less hassle. You don’t have to wait for your parents to give you the money you need or add to their worries by using it to buy other things or study materials. These apps make it easy to get a loan for college.
They are given by organizations that know that students have different needs. This means that their interest rates are reasonable, and the terms for paying them back are easy. you may also visit: Best Cashback Credit Cards in India 2024
Benefits and Features of Student Loans
- Through an online loan app for students, anyone who is a student or employed can get a loan quickly.
- To get a student loan quickly with a personal loan app for students, a student’s age Must be over 18 years of age and have a valid college ID card.
- With some lenders, you may be able to refinance, replace, or extend your loan.
- If you make these loan payments on time, They can help you get more loans.
- You get the money instantly in your pocket or bank account.
Compare interest rates on the Best Loan Apps For Students.
|₹500 – ₹30000
|0% – 4% per month
|₹50-₹200 + GST
|₹1,000 – ₹4,00,000
|0% – 29.95% per year
|0% – 7%
|₹1,000 – ₹2,00,000
|29.95% per year
|₹10,000 – ₹5,00,000
|1.08% per month
|₹1,000 – ₹10,00,000
|22% per year
Best Loan App for Low Cibil Score
mPokket Loan App This is a student and salaried loan app, which provides instant loans to students and salaried employees. From mPokket Loan App you can get loans ranging from Rs 500 to Rs 30,000.
mPocket knows how important a good education is. With this goal in mind, they have created a feature called “Instant Loan” that lets people invest in their education.
The best instant loan app for students in India removes the burden from their shoulders during one of the most important times in their lives. Students can get instant loans from mPocket, which helps them get rid of the financial problems they face as students. With mPocket, there are no restrictions or interruptions in travel.
Features Of mPokket
- Its only purpose is to provide loans to college students in India.
- It provides loans up to Rs 10,000 to the students.
- You can also pay here through Paytm Wallet, Debit Card, or UPI.
- 120 days are given to repay your loan.
- Here you are provided the loan amount at a very low interest rate.
Creditbee is a platform that makes it easy for people to get loans from NBFCs/Banks and other personal loan providers. All loan requests are approved and authorized by NBFCs/Banks registered with RBI. This app is also a very good app for student loans.
You can meet your college and school-related expenses through this app. Users can apply for a personal loan up to Rs 4 lakh depending on their needs. The amount of paperwork required is low, and the entire process from signing up to receiving the funds takes an average of 10 minutes.
The entire application process is done online, and if approved, the money goes directly into the applicant’s bank account. There are many different loan offers with easy payment plans. you may also visit: When Education Loan Interest Starts
Features Of KreditBee
- This loan app can get you approved for your Instant Personal Loan in 10 minutes.
- Since the Creditbee app provides online loans, you can get the loan anywhere at your convenience, whether you are at home, office, or outside.
- Repay your Cash Advance Loan in 3 to 24 months by choosing easy EMIs.
- With online personal loan applications with CreditB, you do not have to fill out any paper forms.
- Whatever documents are required, they have to be sent online only.
- The amount applied for the loan is immediately transferred to your bank account.
Instant Personal Loan from PaySense is a fast and easy way to meet all your financial needs, no matter how big or small. An instant personal loan can fulfill all your needs. PaySense provides instant personal loans to both Salaried Professionals and Self-Employed.
Instant Personal Loans from PaySense are one of the most sought-after online loans as they have low interest rates, flexible terms, easy EMI repayments, minimal paperwork, quick processing, and prompt disbursement.
PaySense is a great loan application through which you can take a personal loan ranging from Rs 5,000 to Rs 5,00,000. You require minimum documents to apply for a loan which you can repay within 60 months.
Features Of KrazyBee
- Instant Personal Loan: Get a personal loan ranging from Rs 5,000 to Rs 5 lakh instantly to meet all your needs and goals.
- Quick Approval & Disbursement: Get the loan quickly and get the money in your account.
- Paperless Documentation: You can digitally Sign your loan application and upload photos of your KYC documents.
- Affordable EMI Schemes: EMI plans that are easy to manage and come with reminders and auto-debit so you don’t forget to pay on time.
MoneyTap is a mobile application with the help of which you can get a loan ranging from ₹ 10,000 to ₹ 5,00,000. Use this money for things like trips, cell phones, medical emergencies, weddings, studies, home renovations, etc.
You also don’t need to transfer the entire amount at once; You can borrow only as much as you need from your limit. Interest will be charged only on the amount utilized.
You can repay the loan when it is most convenient for you by choosing an EMI plan of 3–36 months. MoneyTap Personal Loan interest rates start from 1.08% per month (13% per annum).
The best part is that you can get a credit limit of up to Rs 5 lakh, but you do not have to pay any interest until you transfer this money to your bank account.
Features Of MoneyTap
- MoneyTap You can borrow as many times as you want between Rs 3,000 and your total sanctioned credit limit.
- The lowest interest rate offered by MoneyTap is 1.08% per month.
- When you avail of a personal loan from a bank other than your own You pay interest on the full amount from day one.
- With MoneyTap Personal Loan 2.0, you also get a free MoneyTap-RBL Credit Card* that is packed with features and benefits.
- Tenure between 3 to 36 months Choose a flexible payment plan and pay as per your wish.
- When it comes to personal loans, banks only offer fixed EMI terms.
5. Slice Pay
Slice is a one-stop digital payments app that works with multiple non-banking financial companies to offer the Slice Credit Card (NBFC). Every time you use this card, you can get up to 2% cashback.
If you’ve never had credit before, this is a good option because the rules to get it aren’t difficult and it helps you build your credit score. Plus, there is no fee to join or pay each year to receive all these benefits.
Features OF Slice Pay
- Any person can use this card.
- There is no age limit but a person must be at least 18 years old, that is, the age of that person should not be less than 18.
- Your Cibil Score should be more than 700 if you want to earn more.
- In this, you are a student, or salaried, or a freelancer.
- You should have an identification and address.
6. Zest Money
It is one of the fintech companies providing instant loans in India. It lends money to people. The ZestMoney app is a platform that helps meet the needs of people who do not have easy access to credit cards. Also, this app fulfills your needs by providing you with a loan through an Aadhar card.
Here you get a loan amount as low as Rs 1000 which is easy for you to pay. Using ZestMoney, which is a completely online process, you can shop at your favorite stores like Amazon, Flipkart, Myntra, Croma, Lifestyle, and many others and convert your shopping bill into small EMIs.
Features Of Zest
- Zest Loan App provides you loan at a very low interest rate of 22% per annum.
- You will not be charged any application fee in the ZestMoney Loan App.
- You can repay the loan anytime from 3 months to 24 months.
- Through Zest Personal Loan App, you can take a minimum loan of Rs 1000 and a maximum of Rs 2 lakh.
- To apply in the ZestMoney Loan App No additional documents are required.
- You can take a loan through Andhra Card.
7- Fibe Loan App
Fibe Personal Loan App: A personal loan is an easy way to get the money you need, whether it’s for a last-minute trip or a medical emergency. Personal loans can be an instant and easy way to solve all your money-related problems.
If you need quick money for a short period, you can apply online for a loan up to Rs 5 lakh. The best thing about online applications is that the documents can be verified and the loan can be approved quickly.
Features Of the Fibe Loan App
- Fibe’s cash disbursement process is very secure as it is supported by the PCI DSS app.
- They provide service 24 hours a day, 7 days a week, so you can apply for more loans at any time.
- An amount between Rs 5,00,000 will be provided.
- From 3 months to 36 months, you can choose for how long you want to pay.
- The interest rates are low, with interest rates as low as Rs 10,000 i.e. Rs 9 per day.
- No prepayment and charges for foreclosure.
Eduvanz Financing Private Limited is an RBI-licensed and regulated non-bank financial company (NBFC) and fintech platform trusted by millions of students for their education, career, and other financial needs.
Get an instant loan between INR 15,000 and 10 lahks to start your education right away. The entire process of taking a loan from them is done online, so you do not need to do much. They have ensured that you have access to high-quality courses from over a thousand of their educational partners and merchants in India, with as little paperwork as possible and as quickly as possible.
Features of Eduvanz
- Find out if you’re approved in seconds. Everything is done online.
- Send your application form through the website or mobile app.
- Low-cost loans are good for students with flexible terms and no hidden fees.
Student loans are known to be disbursed as quickly as possible. Depending on how much you borrow and how long you borrow it, the interest rate can be anywhere from 1% to 3% per month.
Students can borrow up to Rs 50,000 from Pocketly. Users of Android phones can get it through Google Play.
You can also apply for a top-up loan to ensure that you always pay your monthly bills on time. The money will go to your Paytm wallet, bank account, or regular bank account.
Features Of Pocketly
- Pocketly is here for you whenever you need money. Some apps can be difficult to use but that is not the case with Pocketly.
- You can borrow anywhere from Rs 600 to Rs 10,000 with just a few clicks.
- Don’t worry if you don’t have enough money to pay back on time. Just pay more than the minimum every month and you can repay the loan whenever you want.
- When you apply for a loan with Pocketly, you do not need to send any physical documents.
- Instead, you can simply upload the scanned copy of your documents.
- They have a dedicated support team that will help you get all your queries answered as quickly as possible.
StuCred is a Student Loan App that is the most trusted real-time student credit app in India.
Through this Loan App, college students doing institute, and technical courses can take loans for their personal needs only through College ID.
StuCred App provides loans to students by reporting to credit bureaus. So that it proves effective in improving your credit score.
Features Of StuCred
- In this Loan App, you do not have to pay any interest.
- This Loan App is completely authentic.
- Here the loan is available to you for a longer period.
- You get the loan with minimum paper documents.
- StuCred allows you to build your credit score well before you graduate.
Why use a loan app for students?
A college student also has many types of expenses like college fees, books, library transportation, etc. Many times it is not possible for a student to ask for money from his parents. In such a situation, instant loan apps can help a student a lot.
With loan apps, any student can apply for a loan and fulfill their needs. The application process for loan apps is quite easy as it requires minimal documents.
Best Loan Apps For Students Eligibility Criteria
The loan app application eligibility is quite easy for a student. You must have the following eligibility:
- Applicant must be a college student.
- The age of the student should be above 18 years.
- The student must have a valid college ID and Aadhar card.
- Many loan apps also ask for a PAN card, so you must have a PAN card too.
All the student loan apps mentioned above are the best in their app. You can reduce your daily expenses by taking a loan from them. You can pay your school, college, or course fees through this loan. All these loan apps are the best loan apps that you can choose which provide you with very good loans.
Through these apps, you are provided loan facility with very low interest rates. All these loan apps give you instant loans. You can trust all these apps, all of them are approved by RBI.
Can every student apply for a student loan?
Not all students are eligible for these loans. These loans are available only to college students registered for regular classes.
How to Apply for an Instant Loan?
Many businesses, websites, and applications claim that they can approve your application for an instant loan in minutes or even hours without any paperwork or at all.
Which is the best loan app for students?
mPocket is the best student loan for spending money in India if you are looking for it. It offers loans in amounts ranging from ₹500 to ₹20,000.
What is the student loan app interest rate?
Student loan interest rates should vary between 0% to 30%. It also depends on the qualification.