25+ Best Loan Apps for Students – Student Loan Apps in India 2023

Loan Apps for Students: The old way to get a loan from a bank takes a lot of time and a lot of paperwork. You could also use a credit card to get a loan, but the interest rates are very high. You could also ask your friends or family for money, but that can be embarrassing. And not everyone in India has the luck to be able to borrow money from their boss before they get paid. So, if you need cash quickly in India, the best thing to do is apply for a personal loan.

Caution: Students are advised to verify the loan apps before using them because there are many fake loan apps available in the market.

Some popular loan apps for students in India based on their popularity and reputation in recent years

1. MONEYTAP

MoneyTap is India’s first credit line that you can get through an app. The best thing about it is that you don’t have to pay interest if you don’t use it. This has made it cheaper to use credit. With this feature, you only pay interest on the amount you’ve used. It’s an app that lets people get a line of credit that can be used as an instant loan or a credit card.

The application process is made very user-friendly so that customers don’t have to deal with any problems.

They are a team of highly goal-oriented people who want to help middle-class Indians get credit that is affordable and easy to use.

2. Dhani

Dhani Services Ltd. is a consumer company that runs through its Dhani app and gives its customers digital health care and digital finances.

When making products for today and tomorrow, the company has always put the needs of the country first. It started as a business that helped people with their finances, but now it has a wide range of products in both healthcare and finance.

On the financial services side, people can choose from several things to help them meet all their regular financial needs. This includes making all payments with the Dhani Wallet or Dhani Card, getting personal loans and the Dhani Credit Line, getting personal and medical insurance for your family, and finding smart stock broking solutions for your properties.

3. PaySense

SayaliKaranjkar and Prashanth Ranganathan started PaySense. It is an app that lets you get cash loans online right away. You can use a phone or laptop to check if you are eligible for a loan, send in your KYC information, and apply for a loan. You will get approval within 5 hours.

The company offers personal loans online of up to?? 5 Lakh, and you can use anywhere from?? 5,000 to your entire limit at once. There is also an EMI calculator on PaySense that lets you see how much you like.

PaySense wants to make it easy for young adults who need short-term loans to pay for unplanned or unexpected costs quickly and easily.

4. Money View

With the Money View Personal Loan app, you can get a personal loan in just 2 hours. A personal loan from Money View is quick, easy, and doesn’t require any paperwork. You can use it to remodel your home, buy an expensive car, or pay for your wedding.

Money View’s loan amounts range from 10,000 to 5 Lakh. The amount of time you have to pay it back is flexible and can be anywhere from 3 months to 5 years.

5. SmartCoin

SmartCoin is a financial technology firm that aims to simplify and broaden access to credit. Short-term borrowers in India can get an immediate loan with this app. Use the small loan app to borrow between $1,000 and $25,000.

The organization does not discriminate based on income and hence welcomes people of various backgrounds, including CEOs, business owners, salaried professionals, administrators, teachers, and stay-at-home moms.

6. Credy

Immediate approval in under a minute makes Credy one of the quickest and most commonly available instant loan acceptance applications out there. Credy also offers quick disbursement of loans in as little as 48 hours, directly to the customer’s bank account. If you’re in good health, you can use the Credy app to apply for a loan in just a few taps, and if it’s approved, you’ll have your money in as little as a minute. The buddy app allows you to check if you are eligible and if your request is adequate.

7. IndiaLeads

Founded in the Indian capital of New Delhi, IndiaLends is a fintech company that is just getting started. Our goal is to provide convenient and low-cost access to financial services for the average person. Our group is comprised of highly skilled professionals in the field of finance, all of them have worked for prestigious companies for at least 7 years.

IndiaLends is one of India’s cash loan apps that offers rapid personal loans, credit cards, and free credit reports. IndiaLends offers the best rates for online personal loans and can fund your loan in as little as 48 hours.

8. Bajaj Finserv

Bajaj Finserv offers personal loans with rapid approval and funds transfer. No-collateral loans are made to women, government and PSU workers, educators of all levels, and others in the public sector.

Personal loans offer a payment reduction feature of up to 45 percent by allowing interest-only EMIs to be paid. You can take out as much of the approved loan amount as you need, once you’ve been approved, without having to reapply.

9. Cashe

Cashe uses an in-house developed algorithm to determine if a client is creditworthy. Generally speaking, banks and other lenders utilize a different credit scoring system, which is somewhat different from this one. They use a variety of factors to determine a client’s creditworthiness; they call it a social loan quotient (SQL). Loan distribution is expedited because of the fully automated, hands-free process. If all your paperwork checks out, you should soon see the loan funds in your account.

10. Early Salary

This app is for people who have no credit history. Anyone with a monthly salary of at least 18,000 rupees can get a loan of up to 2 lakhs from Early Salary. Early Salary uses a patented method to figure out if a person is creditworthy. It’s called the Social Value (SW) score, and in an emergency, it can help a loan get paid out quickly. If you did everything right, the money will be put in your bank account within 10 minutes.

Best loan apps for students without pan card

Most loan applications in India must include a PAN card as one of the required documents. But there are a few loan apps that students can use even if they don’t have a PAN card. Here are some loan programs that may give loans to students who don’t have a PAN card:

1. Money View is a well-known loan app in India that helps students who don’t have a PAN card get personal loans. The app lets you borrow up to Rs. 5 lakhs, and you can apply for a loan online in a simple way.
2. EarlySalary is another loan app that might give loans to students who don’t have a PAN card. Personal loans of up to Rs. 5 lakhs are available through the app, and there are many ways to pay them back. The process of getting a loan is quick and easy, and the app makes it easy to get approved and get the money.
3. mPokket is a loan app that lets students without a PAN card get loans right away. The app lets you borrow up to Rs. 30,000, and you can apply for a loan online in a simple way.

Please keep in mind that these loan apps may have different rules about who can use them and how much interest they charge. Before choosing the best loan app for your needs, you should compare different ones and read the terms and conditions carefully.

Small loans for students

If you are a student who needs a small loan, you have more than one choice. Here are just a few:

• Personal loans are a type of unsecured loan that can be used for anything, such as paying for school, buying gadgets, or meeting other personal needs. Students can get personal loans from a lot of banks and other financial places. To get a personal loan, you will need to have a good credit score and a steady source of income.
• Education loan Students can use education loans to pay for things like tuition, books, and other costs related to their education. A lot of banks and other financial institutions offer student loans with low-interest rates.
• Some loan apps offer credit lines that you can use as and when needed. This type of loan is suitable for students who need a small amount of money for a short period. You can use the credit line to pay for your educational expenses or other personal needs.
• Peer-to-peer lending is a type of lending in which people can lend money to other people through an online platform. This can be a good option for students who don’t qualify for traditional loans but have good credit and a steady source of income.

Before choosing the best loan for your needs, you should compare the different options and read the terms and conditions carefully. Make sure you only borrow what you need and have the plan to pay back the loan on time so you don’t get into more debt.

Best loan apps for students with a low-interest ratio in table form

Please note that the interest rates and loan amounts may vary based on several factors, including your credit score, income, and repayment history. It is important to compare different loan apps and read the terms and conditions carefully before choosing the best one for your needs. Make sure to borrow only what you need and have a plan in place to repay the loan on time to avoid falling into debt.

Instant loan apps for students without pan card

1. In India, most loan Money View is a well-known loan app that helps students who don’t have a PAN card get personal loans. The app lets you borrow up to Rs. 5 lakhs, and you can apply for a loan online in a simple way.
2. EarlySalary is another loan app that might give loans to students who don’t have a PAN card. Personal loans of up to Rs. 5 lakhs are available through the app, and there are many ways to pay them back. The process of getting a loan is quick and easy, and the app makes it easy to get approved and get the money.
3. LoanTap is another loan app that students without a PAN card can use to get personal loans. The app lets you borrow up to Rs. 10 lakhs, and you can apply for a loan online in a simple way.

Applications and financial institutions need a PAN card as a required document. But there are a few loan apps that might give loans to students who don’t have a PAN card. Here are a few loan apps for students who don’t have a PAN card:

Please keep in mind that these loan apps may have different rules about who can use them and how much interest they charge. Before choosing the best loan app for your needs, you should compare different ones and read the terms and conditions carefully.

Best loan apps for 18 years old

If you are 18 years old and want to apply for a loan, you have a few options. Here are some loan apps that 18-year-olds might be able to use:

• MoneyTap is a popular loan app in India that lets people who are at least 18 years old get personal loans. The app gives you a line of credit that you can use whenever you need it, and getting a loan is quick and easy.
• KreditBee is another loan app that might consider 18-year-olds who want to borrow money. Personal loans of up to Rs. 1 lakh can be gotten through the app, and the loan application process is done online and is easy to use.
• PaySense is a loan app that lets people who are at least 18 years old get personal loans of up to Rs. 5 lakhs. The entire loan application process is done online, and the app makes it easy to get approved and get your money quickly.
• CashBean is another loan app for people who are at least 18 years old and want a personal loan. The app lets you borrow up to Rs. 60,000, and you can apply for a loan online in a simple way.

Before choosing the best loan app for your needs, you should compare different ones and read the terms and conditions carefully. Make sure you only borrow what you need and have the plan to pay back the loan on time so you don’t get into more debt.

 Best loan apps for students with low interest

Please note that the interest rates and loan amounts may vary based on several factors, including your credit score, income, and repayment history. It is important to compare different loan apps and read the terms and conditions carefully before choosing the best one for your needs. Make sure to borrow only what you need and have a plan in place to repay the loan on time to avoid falling into debt.

Conclusion

In India, there are several loan apps that give personal loans to students with low-interest rates and quick loan approvals. MoneyTap, KreditBee, PaySense, MoneyView Loans, EarlySalary, mPokket, and NIRA are some popular loan apps that offer loans to students. It is important to compare different loan apps, read the terms and conditions carefully, and borrow only what you need to avoid falling into debt. Also, before applying for a loan, students should look into other ways to get the money they need, like scholarships, part-time jobs, and grants.

Faizan Ahmad

Faizan Ahmad is a financial analyst and writer who specializes in investments, banking, and corporate finance. He has over 7 years of experience working in the finance industry in various roles.
He leverages his strong financial modeling and data analysis skills to provide insightful commentary on business, markets, and economic trends.
At Ventures Money, Faizan covers topics including Credit Card Reviews, Loans, Insurance, and Mutual Funds in the banking sector. He provides in-depth analysis of the latest news and trends to help readers make smart investment decisions.
Outside of writing, Faizan enjoys following the stock market, rooting for his favorite sports teams, and spending time with his family.