Top 6 Best Student Loan Apps in India (Quick Loan)

India is the second-most populous country in the world, with more than 1.3 billion people. There is a lot of competition for students trying to get into universities and colleges in India. One way to make these expensive fees easier to handle is by using student loan apps.

This article analyzes some of the top 6 best student loan apps that are available in India. Some of these apps are specifically designed for students from certain backgrounds such as sports or arts and others are meant for those who have low credit scores or financial problems.

Top 6 best Student Loan Apps in India

1. Sahukar- Instant Loan

Finding a bank loan is a lengthy process. With Sahukar, students can apply for a loan in minutes and get their money back within 24 hours. From finding loans for the purchase of school supplies to covering study abroad fees, Sahukar offers instant funding with competitive interest rates.

This app offers Rs. 500 to 5,000 instant loans without any documents.

You can return your borrowed loan within 90 days and at an interest rate of 3% monthly. All you need to do is download the Sahukar app, register, and comply with the loan agreement.

You can instantly get your money deposited at the convenience of your bank account. Plus, the app provides some exciting referral bonuses you can use as cash or coupons

2. mPokket- Popular Loan App

mPokket has a very diverse range of loans it offers to students. mPockett provides everything from Rs.500 to Rs.20,000 for their instant loans, which you can use for anything from saving cash for an upcoming trip to traveling the world in style.

This is a loan to students who are studying at institutes in India and need money for living expenses. Its eligibility criteria depend on the student’s Permanent Account Number (PAN) card.

mPokket offers loans to people 18 and older who are intending to go to college.

They charge low-interest rates to all customers, depending on how much they have saved.

3. RedCarpet App

One of the most difficult parts of being a student is buying school supplies and textbooks that are out of reach for the average college student. The RedCarpet platform has made it possible for students to receive instant loans from friends, family, and even strangers. 

This app provides a small loan of up to 6,000 INR within the period of 1 month. 

You are also able to pay your EMI over a three-, six-, nine- and twelve-month period.

This app is a new way of managing life with less stress. The app is made with an in-built tracker to ensure the safety and security of its users at all times. It also offers a Platinum Mastercard that can be used for a range of functions like online transactions, travel & more.

4. KreditBee

KreditBee is a unique platform that offers student loans to people of all ages. They have a very quick approval process and they only charge interest rates at 15-29.5% per annum. 

KreditBee can be used for anything including buying a car, getting out of debt, and even paying off your tuition fees.

These lenders offer loans from as low as Rs. 5,000 to Rs. 2,00,000 at competitive rates and with flexible repayment options.

The loans are available for those in the age group of 21 years to 56 years, who want to start or grow their businesses in today’s modern era. This can be done by applying for a loan online and by filling out a digital application.

5. Pocketly

If you want to borrow money, check out Pocketly. They are known for offering high-quality service by providing loans at an astonishingly fast speed.

They charge an interest rate of 1-3% per month based on the amount and the loan tenure.

A loan product in the form of a digital app is available for students, offering up to 50k as a maximum loan amount and based on Android smartphones.

With our top-up loans, you can easily fund your Paytm account or get a bank transfer.

6. Cash Bean -Best Loan app

The Cash Bean student loan app is a highly reputable service for students in India. This app is also available for Android-based smartphones and is widely trusted by international students looking to study in the region.

Cash Bean offers easy-access loans of up to Rs.60,000 with surprisingly low-interest rates. There is a processing and service fee of 18% on the loan amount.

You’ll have to show some source of income to even apply for an advance loan with the company. The interest rate per annum is 33%.

They need to process your loan quickly and efficiently. If you are between the ages of 21-56.

Wraped UP

As a college student, you may be careful with your spending, but that doesn’t mean you should be careless with your money. Young people make mistakes when it comes to money and they often fall victim to scams.

Having access to a wide array of technology is important. Purchasing items such as laptops, smartphones, and bikes helps people who work in tech-based jobs stay up to date with the newest technologies.

So, this was the list of the top 6 best student loan apps for students in India in 2022. These apps offer instant personal loans within a few hours.

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