Well, An Instant loan for students! It sounds like a dream come true. No more begging relatives for money, waiting in long bank queues, or wondering what to do when you’re short on cash.
Now college students can snap their fingers, and voila! Money in their bank account. But the interest rates are probably higher than the number of friends you have on Facebook. Well, at least you’ll have something to laugh about while paying it off for the next five years.
So sit back, relax, and get ready to hear about the best student loan apps in India that will make your financial worries disappear in a puff of smoke!
What is an Instant Personal Loan App for Students?
An instant personal loan app for students is like a genie in a bottle, fulfilling your wish for instant cash.
In simpler terms, it is a mobile application that allows students to apply for a short-term personal loan without the hassle of visiting a bank or filling out a ton of paperwork.
With just a few clicks on your smartphone, you can apply for a loan and get instant approval.
These loan apps for students offer a loan ranging from a few thousand to lakhs of rupees, making it easy for students to manage their expenses while they study. And the best part? The process is completely hassle-free and can be done from the comfort of your own home.
So why wait? Get downloading and start enjoying the benefits of instant personal loan apps for students today!
Top Instant Personal Loan Apps for Students
Student loan apps make it fast and easy for students to access funds. With competitive rates and flexible repayment terms, students can get the money they need with just a few clicks.
Student Finance is a top instant personal loan app for students, providing accurate loan assessments, various payment options, and no hidden fees.
Instant loan apps offer students quick access to funds without interest or long-term commitments. Get the money you need for educational expenses with just a few clicks.
Get quick and easy access to funds with instant online loan apps. These instant cash loans are great for students who need money for school because they offer competitive rates, flexible repayment terms, and affordable EMIs.
Here is a quick view of some of the popular instant personal loan applications for students
| Loan App | Loan Amount | Loan Tenure( repayment tenure) | Loan Interest Rate | Processing Fee |
|---|---|---|---|---|
| mPokket | Rs. 500-30,000 | 61-120 days | 1%-6% per month | Rs. 34 – Rs. 203 + 18% GST |
| Pocketly | Rs. 500-10,000 | 61-90 days | 1%-3% per month | Rs. 20 – Rs. 120 + GST |
| KrazyBee | Up to Rs. 2,000 per month | 3,6,9,12 months | N/A | N/A |
| KreditBee | Rs. 1,000-3,00,000 | 62 days-15 months | 0%-29.95% per annum | 0%-7% |
| Sahukar | Rs. 100-5,000 | 1-3 months | N/A | N/A |
| SlicePay | Rs. 2,000-10,00,000 | Divisible over 3 months | N/A | N/A |
| CashBean | Rs. 1,500-60,000 | 3-6 months | 0.07% per day | Rs. 90-Rs. 2,000 + 18% GST |
| BadaBro | Up to Rs. 10,000 | 61-90 days | 1%-6% per month | Rs. 34-Rs. 203 + 18% GST |
Are you ready to learn more about some of the most popular and reliable loan apps catering to students? Read on!
List of Loan Apps for Students in India/Features & Benefits
mPokket
– mPokket is one of the most popular instant loan apps for students, offering a simple, easy-to-use platform to get quick loans with minimal paperwork
– to be eligible for a loan from mPokket, you must have a college degree from an accredited institution and be over 18 years of age
– you will need to submit documents such as your Aadhar card, college ID card, and bank statements as proof of address
– with mPokket, you can receive up to Rs 30,000 with low-cost EMIs and no processing fees
– plus, you can avail of top-up loans when you make timely repayments
Pocketly
– Pocketly is a leading personal loan app for students in India that offers quick and easy access to loans with minimal paperwork
– there are no lengthy forms to fill out or unnecessary documents to submit, only your ID proof, address proof, and bank statements for verification
– you can get a loan of up to Rs 10,000 with flexible repayment options and no extra processing fees
– you can also avail of attractive rewards and cashback on referrals through the Pocketly app
Bajaj Finserv
– Bajaj Finserv provides instant loans ranging from Rs 30,000 to 25,00,000 with flexible repayment terms and no-cost EMIs on some purchases to college students in India
– the eligibility criteria for a loan include being an Indian national above 18 years of age and holding a valid college ID card, providing identity and address proof documents along with bank statements for verification
– Bajaj Finserv offers an attractive credit limit, and one can avail of top-up loans easily through their app
– all loan transactions are secure and reliable, making it convenient for Indian students to access funds when needed
– Bajaj Finserv has competitive interest rates and easy repayment options, making it one of the best loan apps available in India today
Red Carpet
– Red Carpet is an instant loan app offering Indian students loans ranging from Rs 500 to Rs 60,000 with flexible repayment terms and no-cost EMIs available on some purchases
– the application process is simple and easy, and you can get a loan within minutes with minimum KYC requirements
– app provides attractive credit limits and top-up loans allowing you to get more funds when needed
– Red Carpet has competitive interest rates, processing fees, and a maximum limit of Rs 60,000
– secure payment gateway and reliable services make Red Carpet worth exploring if you need financial assistance
Krazy Bee
– Krazy Bee is an instant loan app catering to the needs of Indian students
– it provides loans ranging from Rs 1,500 to Rs 60,000 with competitive interest rates and no-cost EMIs
– the application process is simple, and loan approval is quick with minimal KYC requirements
– Krazy Bee offers attractive credit limits and top-up loans, which allow you to access more funds when needed
– eligibility criteria require you to provide identity and address proof documents as well as your college ID card
– it has a secure payment gateway and reliable services, making Krazy Bee a great option for those needing quick money transfers or personal loans while they are in college!
Cash Bean
– Cash Bean is an instant loan for college students in India that offers loans within 24 hours without any documents or credit history needed
– Loans range from Rs 1,500 to Rs 60,000 with competitive interest rates starting at 33% and a maximum tenure of 12 months
– To be eligible, you must be an Indian national, resident in India, aged between 18-56 years old, with a source of monthly income, and provide identity and address proof documents as well as a valid college ID card
– Cash Bean provides dependable services with its secure payment gateway making it an ideal option for those seeking quick access to money while studying
Slicepay
– Slicepay is an instant loan app for students that offers no-cost EMIs and low-interest rates
– it requires minimal paperwork, including identity and address proof documents, bank statements, and a valid college ID card
– the app also provides a super slice credit card for hassle-free payments
– students can get approved for loans up to Rs 10,000 in no time with its easy application process
– Slicepay also provides flexible repayment options with monthly interest rates as low as 3%
Badabro
– Badabro is an instant loan app for students that provides easy access to loans with minimal documentation
– the app offers instant approval, no-cost EMIs, and competitive interest rates
– students can avail of loans ranging from Rs 500 to 10,000 depending on their credit limit
– Badabro also allows students to top-up their loan amount depending on their credit history and financial needs
– this helps them in managing their finances better by providing much-needed liquidity when needed
– students can also select a convenient repayment period with processing fees as low as 2%
Sahukar
Saahukar is an online personal loan company that offers instant loans to students. You can download the app from the Google play store or Apple Store
– loans range from Rs 500 to 5,000 with a maximum limit of Rs 10,000 for eligible borrowers
– criteria for eligibility includes being an Indian national, above the age of 18, and being enrolled as a full-time student
– documents required for loan approval include identity proof such as a college ID card and address proof such as bank statements or debit card details
– documentation process is simple and hassle-free, without any lengthy paperwork or human interaction involved
– interest rate starting at 6%, making it one of the most convenient options for student financial needs
Buddy Loan
Buddy Loan is a reliable loan lending platform for college students in India.
The quick and easy online application process makes accessing funds when needed quick and convenient.
Loans range from Rs 500 to Rs 10,000 with flexible repayment terms and low-interest rates.
Its credit score system helps users get better credit limits at competitive rates.
Money View
Money View offers fast and secure personal loans to college students in India.
The loan app has a great credit score system, flexible repayment terms, and competitive interest rates.
There is no paperwork or human interaction required for the application process.
Money View provides complete transparency throughout, with applicants knowing their loan amount, repayment period, and interest rate before signing documents.
The instant loan app is easy to use and has convenient features ideal for Indian students seeking quick financing solutions.
Navi
Navi is a loan platform designed to make obtaining personal loans quick and easy for Indian college students.
It features a fast approval process with minimal documentation required, competitive interest rates, and repayment terms with zero-cost EMIs.
– Borrow up to Rs. Fifty lakhs in just minutes and receive your funds quickly.
Enjoy a user-friendly interface and transparent policies that make it an ideal choice for short-term financing needs.
Money Tap
Money Tap is a leading instant personal loan app for students in India.
Founded with the mission to make the process of availing loans hassle-free, Money Tap offers competitive interest rates and flexible repayment terms.
With a simple application process and minimal documentation requirements, students can apply for a loan of up to Rs. Fifty lakhs quickly and easily.
The app also features no-cost EMIs making it an attractive option for those who need short-term funding.
Additionally, Money Tap’s credit limit feature allows customers to borrow up to 80% of their sanctioned loan amount without any extra paperwork or additional fees.
With its user-friendly interface and transparent policies, Money Tap is the perfect choice for Indian students looking to arrange to finance quickly and easily.
Dhani
Dhani is an instant student loan app that provides quick and easy access to personal loans.
The app offers loans of up to Rs. 5 lakhs, flexible repayment plans, and low-interest rates. Dhani also features a no-cost EMI option so students can borrow money without additional charges.
The app requires minimal documentation, such as address proof, bank statements, college ID cards, and credit history, to apply for a loan.
Dhani’s user-friendly interface allows customers to complete their applications within minutes and track their loan status in real time. Students can also take advantage of Dhani’s top-up loan facility if they need additional funds.
With its secure platform, transparent policies, and competitive rates, Dhani is the perfect choice for Indian students looking for instant financial support.
Cashe
Cashe is an instant student loan app that offers quick and convenient access to personal loans.
This app provides loans of up to Rs. 5 lakhs with flexible repayment terms, low-interest rates, and no foreclosure charges. It also has a 0% EMI facility that allows users to shop online without paying extra fees.
To apply for a loan, students must provide minimal documentation such as address proof, bank statements, college ID cards, and credit history.
The app’s user interface is simple and easy to use, allowing customers to complete their applications within minutes and track their loan status in real time.
Cashe also offers a top-up loan facility if the user needs additional funds. With its secure platform, transparent policies, and competitive rates, Cashe is the perfect choice for Indian students looking for instant financial assistance.
Fibe
Fibe is an instant student loan app that provides easy and fast access to personal loans.
It offers up to Rs. 5 lakhs with a flexible repayment plan, low-cost EMIs, and no foreclosure charges.
The application process is simple; minimal documentation such as bank statements, address proof, college ID card, and credit history are required.
It also has a 0% EMI facility that allows users to shop online without paying extra fees.
With its secure platform, transparent policies, competitive rates, and quick money transfer within 10 minutes into the user’s account, Fibe is one of the best apps for Indian students looking for instant financial assistance.
Moreover, it can be used by salaried and self-employed individuals with a steady income source. Students can avail of this loan in just a few clicks and get their desired amount within minutes at an affordable rate of interest or processing fees.
Home Credit
– Home Credit is an online personal loan platform that caters to the students of India, offering easy and fast access to credit with a minimum amount of Rs 10,000 and a maximum limit set at Rs 5 lakhs
– the loan application process is simple, with minimal documentation such as bank statements, address proof, college ID card, and credit history required
– it has a 0% EMI facility that allows users to shop online without having to pay extra fees
– its secure platform, transparent policies, competitive rates, and quick money transfer makes it one of the best apps for Indian students looking for financial assistance
– detailed repayment terms with no foreclosure charges along with top-up loans after meeting certain criteria are available
– students can avail of this loan in just a few clicks and get their desired amount within minutes at an affordable monthly interest rate or processing fees while enjoying a high credit limit
Lazy Pay
| Loan Platform | Documentation Required | EMI Facility | Policies | Repayment Terms | Top-Up Loans | Processing Fees/ Interest Rates | Credit Limit |
|---|---|---|---|---|---|---|---|
| Lazy Pay | Minimal documentation such as bank statements, address proof, college ID card, and credit history | 0% EMI facility for online shopping | Secure platform, transparent policies, competitive rates, and fast money transfer | Customized repayment terms with no foreclosure charges | Available after meeting certain criteria | Affordable processing fees/ interest rates | High credit limit for instant financial assistance |
– Lazy Pay is an online loan platform that provides quick and hassle-free access to credit for Indian students
– it offers instant loan approval with minimal documentation such as bank statements, address proof, college ID card, and credit history
– it also offers an 0% EMI facility for shopping online without having to pay extra fees
– its secure platform, transparent policies, competitive rates, and fast money transfer make it a great choice for students looking for instant financial assistance
– customized repayment terms with no foreclosure charges are available plus top-up loans after meeting certain criteria
– students can avail of this loan in just a few clicks and get their desired amount within minutes at an affordable monthly interest rate or processing fees while enjoying a high credit limit
Flex Salary
| Loan Platform | Maximum Loan Amount | EMI Facility | Interest Rate | Processing Fee | Transfer Time |
|---|---|---|---|---|---|
| FlexSalary | INR 2,00,000 | 0% for online shopping | Competitive Affordable monthly fee | Not specified | Within 10 minutes |
- It offers an 0% EMI facility for online shopping without extra fees.
- FlexSalary ensures secure transactions with transparent policies and competitive interest rates, enabling users to get their desired amount within minutes at an affordable monthly interest rate or processing fees.
- The maximum limit offered is INR 2,00,000
- fast money transfers within 10 minutes into the user’s account
App Name: Loan Tap
| Loan Platform | Maximum Loan Amount | Minimum Loan Amount | Loan Types | EMI Facility | Interest Rate | Processing Fee | Transfer Time |
|---|---|---|---|---|---|---|---|
| LoanTap | INR 10,00,000 | INR 50,000 | Marriage Loans, Business Credits, Student Special Loans | 0% for online shopping | Competitive Affordable monthly fee | Not specified | Within 10 minutes |
- It is a reliable and secure platform that provides instant loans to Indian students.
- Users can apply for various loan types, such as marriage loans, business credits, and student specials, with minimal documentation like bank statements, address proof, college ID cards, and credit history.
- 0% EMI facility allows online shopping without any extra fee with a maximum loan limit of INR 10,00,000 and a minimum loan limit of INR 50,000
- LoanTap ensures secure transactions with transparent policies and competitive interest rates, which helps the user get their desired amount within minutes at an affordable monthly interest rate or processing fees.
- Fast money transfers within 10 minutes into the user’s account make it one of the best apps for Indian students looking for instant personal loans.
What are the benefits of using an instant personal loan app for students?
Instant personal loan apps have become increasingly popular with college students seeking quick and easy access to funds. These apps offer several advantages compared to traditional loan options that can be availed by banks and nbfcs, including:
Quick and Convenient
Instant personal loan apps offer students quick access to funds with no credit score requirements and low-cost EMIs. Get your loan in a matter of hours or days.
These apps provide flexible repayment terms and maximum limits, so you can choose the option that fits your budget.
An instant loan app is a convenient option for college students needing fast access to money.
Competitive Interest Rates and Conditions
An instant personal loan app for students offers competitive interest rates and conditions, making it an ideal funding option for college students. Get access to funds quickly and conveniently, and enjoy the assurance of a fair deal.
These apps offer flexible repayment terms and maximum limits to help you find the best loan option for your budget.
Apps with no credit score checks or address proof make accessing funds easy for those with poor credit.
Easy and Transparent Process
An instant student personal loan app provides an easy and transparent application process.
Students can create an account, enter their basic details, and submit the necessary documents to apply for a loan. The entire process is designed to be fast and simple, so you can access funds quickly without spending too much time on paperwork.
Plus, most apps provide clear upfront information about fees and interest rates, so you know what you’re getting into before committing to a loan.
With secure online processes, users can trust that their information is safe and secure with the app provider.
Disbursement of Funds Within Minutes
Instant loan apps make it easy for college students to access funds quickly in emergencies.
These apps can disburse funds within minutes of receiving an application and offer flexible repayment terms with affordable EMIs and interest rates. It makes them a great option for students looking for reliable financial assistance.
How to avail of the Right Instant student Loan App?
Choosing the right instant personal loan app requires research. Compare interest rates, processing fees, maximum limits, and payment terms.
Consider what type of loan you need and look for an app that caters to your needs. Additionally, check for additional requirements, such as proof of address or college ID cards.
Read other users’ online reviews to understand better how reliable and user-friendly each app is. Doing your due diligence beforehand will help you find the perfect loan app.
Researching and comparing interest rates and fees of different instant personal loan apps can help you find one that meets your needs. Stay tuned to learn more!
Comparing Interest Rates, fees, EMI, and early repayment options
Compare the APR and fees of different personal loan apps to get the best deal. Read the terms and conditions carefully to understand any late payment or other fees.
To compare interest rates and EMI accurately:
- Focus on how much money you will have to pay back.
- Calculate how long it would take to repay the loan at the stated APR and see if any Additional fees may apply.
- Look for discounts or promotions on apps to reduce your costs.
Research and compare multiple personal loan apps before making a decision. Look for competitive rates, low-cost EMIs, and reliable service.
Researching the App’s Reputation and Customer Reviews
Research the reputation and customer reviews of an instant personal loan app before downloading. Read reviews to gauge the quality of service and customer satisfaction. Additionally, check the company’s financial history to ensure legitimacy.
Check the app’s security measures, such as encryption and secure payment gateways, to protect sensitive information like bank statements and address proof from third parties.
Look for apps that offer personalized services, such as tailored loan limits and top-up loans, based on your credit score and history. This way, you can trust that you are getting the best deal for your needs without sacrificing safety or reliability.
Examining the App’s Eligibility Criteria
When choosing an instant personal loan app, check the eligibility criteria. Most apps require a valid student ID, good credit, and proof of income. Review the fine print before applying to ensure you meet all requirements.
Read the loan terms carefully before agreeing to them. These usually include minimum and maximum loan amounts, interest rates, and processing fees. Ask questions if you need help understanding any of the terms.
Some apps may require additional documents, such as credit reports or debit card details to verify your identity and protect your financial security. Only provide this information if it is secure and encrypted by the app’s developers.
Analyzing the App’s Loan Options
When looking for a personal loan app, consider the types of loans, security requirements, terms for paying back the loan, and interest rates. Some apps may require collateral, while others may accept a college ID card or other forms of address proof. Depending on your credit score and maximum limit, you can get flexible payment terms and EMIs.
Compare loan options from different financial institutions to get the best deal. Research fees associated with instant personal loan apps to avoid hidden costs.
How to Apply for an Instant Personal Loan App for Students
Applying for an instant personal loan through a loan app for students in India is a simple process. Here’s how you can apply:
- Download the loan app for students: First, download the loan app from the App Store or Google Play Store on your smartphone.
- Register: Once you have downloaded the app, register yourself by providing the necessary details, such as name, age, email address, and phone number. Also, you need to create a password to log in to the app.
- Fill out the application form: Next, fill out the application form with all the required details, such as the loan amount you need, the purpose of the loan, and the repayment period. Also, provide details about your educational institution.
- Verify your details: You will need to verify your details, such as your Aadhaar card number, bank account number, and PAN card details.
- Submit the application: Once you’ve filled in all the necessary details, submit the application form.
- Get approval: After submitting the application form, the loan app will verify your details and approve the loan. If approved, the loan amount will be disbursed to your account within a few hours to a few days.
To apply for a loan through a loan app for students In India, make sure you fulfill the eligibility criteria specified by the loan app, such as being a college student or salaried worker and having a bank account and an Aadhaar card.
Required Documents and Information
Applying for a student loan requires a college ID card, address proof, bank statements, credit score (optional), and income proof.
Applicants must provide accurate details about their employment, income, debit card, and PAN card to be eligible for loan approval.
Be aware of processing fees and loan limits when applying for a loan.
By providing all necessary documents and information in advance, students can ensure a smooth and hassle-free experience while applying for an instant personal loan app for students.
Tips for a Successful Loan Application
An instant personal loan app for students can be a great option to cover tuition fees, extra courses, money for study material, and similar additional expenses. To have a successful loan application, here are some tips that one should consider:
- It is important to compare different loan options and lenders before making an application. It allows you to find your situation’s most relevant terms and rates.
- Ensure all the necessary documents are ready beforehand, which will help speed up the loan approval process.
- Having a good credit score is essential as it will increase your chances of getting approved for an instant personal loan.
- Applicants should understand repayment terms and conditions to avoid financial difficulty.
By following these tips, students can ensure their loan applications are approved quickly with minimum hassle.
Conclusion:
Instant personal loan apps for students have revolutionized how young adults manage their finances. These apps have made it easier and more convenient than ever for students to borrow money and cover their expenses without going through the rigmarole of regular bank loans.
With features like quick approvals, paperless processing, and flexible repayment options, these loan apps have become a lifeline for students who need quick access to funds.
However, borrowing only the necessary amount and making timely repayments is crucial to avoid excessive debt. Ultimately, instant personal loan apps are an excellent solution to help students better manage their finances and enjoy their college years worry-free
