Best Loan App For Students

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As a student, there are times when you are in need of urgent money when you have to pay for extra courses or coaching classes that you do not want to miss or your class has to go for a school trip where every student needs to participate.

Most students depend on their parents for financial support for paying the tuition fees, food, and other necessities for which you will certainly feel the lack of money many a time.

In such situations, it is not always possible to ask for money from your parents or from family members because they do not have the money to give you or sometimes the need is so urgent you can’t wait. 

Moreover, the shame of not being able to pay for even the minimal amount can be heart-breaking. Now, you need not look at your peers and sigh about your lack of money condition.

If you are searching for ways to take a quick loan with or without any physical document, here are some of the top student loan apps you can count on! These cash loans do come in handy.

Before we list the loan apps, let’s have a look at what documents and eligibility are required to take those quick online loans.

You need not fill out a long application. All you need is a copy of your PAN card, Aadhaar card, Copy of your College ID, along with your other personal and banking details.

BEST LOAN APPS FOR STUDENTS

#1. mPocket

student loan app in india

mPocket is an instant loan app designed especially for students and young professionals to meet their emergency cash needs and get money in your bank account within a few minutes of the loan application.

As a student, you can get instant loan for up to ₹20,000. Not only students, but salaried individuals can also get quick loans up to ₹30,000 at fast approval without any paperwork depending on the eligibility at an interest of 3.5% per month for a period of up to 60 days.

Documents Required for mPocket Loan

  1. ID proof: PAN Card
  2. Student ID Card
  3. Address proof: Aadhaar Card

#2. Pocketly

Pocketly is one of the fastest loan-giving apps for students in India. 

A student can borrow starting from ₹600 to ₹10,000 in Pocketly with the interest rate starting from 1% to 3% per month (that is 12% to 36% per year) at flexible EMIs with no hidden charges.

If you pay on time and regularly , you will be able to get to as high as ₹10,000 gradually as top up loans as good behaviour perks.

On approval, you will be getting money in your Paytm wallet or bank account.

Document Required For Pocketly Loan

  1. ID proof: PAN Card
  2. Student ID Card
  3. Address proof: Aadhaar Card

#3. Sahukar (Udhaar Card)

Sahukar is one of the loan apps that gives personal loans to students. Use the code “35gZ7m” for approval rate.

As a student, it is difficult to get a normal loan as students are not used to having a Credit score.

However, you will be able to get a Sahukar Score with your loan and repayment history.

Sahukar gives personal loans ranging from ₹500 – ₹5,000 at an interest rate of 3% per month for a period of 1 to 3 months.

Documents Required For Sahukar Loan

  1. ID proof: PAN Card
  2. Student ID Card
  3. Address proof: Aadhaar Card
  4. You must be above 18 years of age

Use the code “35gZ7m” for better approval rate.

#4. RedCarpet

loan apps for students

RedCarpet offers small loans to students who need a small amount of money using RedCarpet Card.

You will be able to get loans starting from ₹1,000 to ₹6,000 at an interest rate of 2% to 3% per month and have to repay the loan within 3 to 12 months.

Timely payment will help in building up a good credit score which will enable you to take higher amount of loan in the future.

Documents Required For RedCarpet Loan

  1. ID proof: PAN Card
  2. Student ID Card
  3. Address proof: Aadhaar Card

#5. BadaBro

badabro loan app download

BadaBro is a loan application app that is designed especially for students. 

From the BadaBro loan app, you will be able to take instant loans of up to ₹10,000 at an interest rate of 1% to 6% per month with a repayment period of 30 to 90 days.

Document Required For BadaBro Loan

  1. ID proof: PAN Card
  2. Student ID Card / Graduation date that is at least 3 months
  3. Address proof: Aadhaar Card

DISCLAIMER: This post may contain affiliate links, meaning I will get a small commission if you make a purchase through my links, at no cost to you. For more info, please read my Affiliate Disclaimer.

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