Best 9 Easy Loan App for Students In India (2024)

Easy Loan App: In India, there are many well-liked loan schemes. You are not, however, eligible for a loan from them if you are a student. Students do not work full-time jobs yet in order to have adequate money, and children in India are mostly dependent on their parents until they begin working. Besides the cost of books fees, for competitions and other expenses students might also find themselves short, on funds when it comes to paying for activities.

Student personal loan applications make it easy for students to get the money they want to pay for college. You can apply for these student loans straight from your bank account. Download any personal loan application for students, then fill it out. Learn more about speedy student loans and fast loans for students by reading on.

Best 9 Easy Loan Apps for Students

Easy Loan App for Students In India


One of the greatest student loan apps in India for college students is called mPokket. It offers quick personal loans, with amounts ranging from Rs. 500 to Rs. 30,000, to students in times of need or when they are low on pocket money.


KreditBee issues lines of credit Up to Rs. 300,000 for students through an easy registration process focused on eligibility rather than credit history. Repayment terms range from 2-12 months.


In this app, students can apply for fast personal loans ranging from ₹1,000 to ₹4,00,000. After three months of borrowing, the repayment term begins, with interest rates starting at 30.42% annually. In addition, CashE provides a number of benefits like hassle-free borrowing, buy-now pay-later discounts, and fast approvals.


SlicePay provides Indian students access to credit lines from Rs. 500 to Rs. 10,000 using an innovative IOU note system for flexible repayment terms between 2-3 months.


It is India’s leading mobile-based personal loans platform CashBean offers small loans for students in India to customers aged 18 years or above to help them meet their financial needs for the purchase of mobile phones, medical needs, bill payments, and other requirements.


Another app, PaySense provides student and education loans ranging from Rs 5,000 to Rs 1,00,000.To be eligible, for an education loan the student must secure admission to a school either, in India or abroad. It is necessary for them to hold citizenship and fall within the age bracket of 18 to 35 years. PaySense provides speedy payouts and approvals.


Moneyview provides student personal loans up to Rs. 20 lakhs in India with an easy application process using academic credentials instead of traditional eligibility criteria.


Student loans from Pocketly are reputed to be processed quickly. Their monthly interest rates range from 1% to 3%, with annual percentage rates between 12 and 36 percent, depending on the loan size and duration. Students may request up to Rs. 50,000 from Pocketly. Users of Android phones can access it via Google Play. In order to consistently and on time pay your monthly responsibilities, you can also apply for top-up loans. The funds will be transferred to your bank account, Paytm wallet or personal bank account.


Dhani, an application backed by Indiabulls Ventures stands out as one of the choices, for loans, in India. With Dhani you have the flexibility to apply for a loan anytime and anywhere catering to your needs and requirements.You can quickly obtain an unsecured loan without the need for physical documentation. To verify your information, simply download the app and enter your address, PAN, and Aadhar number.

After verification, the loan amount is transferred to the bank account in a matter of minutes—or, according to the app, three minutes. The loan can be repaid in three to six months.

Easy Loan App for Students In India

Feature Loan Amount (Max.) Repayment Period (Up To) Interest Rates Age Restrictions (Min.)
mPokket Varies 3 months Varies 18 years
KreditBee ₹1,00,000 15 months Varies 21 years
CASHe ₹2,00,000 12 months Starting at 1.75% per month 23 years
SlicePay ₹60,000 Flexible Varies 18 years
CashBean ₹60,000 3 to 6 months Starting at 1.5% per month 21 years
PaySense ₹5,00,000 Up to 60 months Starting at 1.4% per month 21 years
Moneyview ₹5,00,000 Up to 5 years Starting at 1.33% per month 21 years
Pocketly ₹50,000 Up to 3 months Varies 18 years
Dhani ₹15,00,000 Up to 3 years Starting at 13.99% per annum 21 years

Features and Benefits of Easy Loan Apps for Students

Student personal loan apps provide fast financing with benefits traditional lenders rarely offer, including:

Quick Application and Approval Process

Easy student loan apps feature simple eligibility criteria and loan requests that take just minutes to complete. Instead of waiting weeks for approval, lending decisions come in seconds or hours.

Flexible Loan Amounts

Borrow exactly what you need from most student loan apps, often ranging from $100 or Rs. 500 to $2,500 or Rs. 5 Lakhs.

Competitive Interest Rates

APRs with loan apps for students generally range from 10-35% based on the loan duration, your university, academic performance, and other attributes.

Convenient Repayment Terms

Repay student loans in bite-sized installments over shorter periods of 2-36 months instead of years. Many apps offer flexible payment schedules.

No Prepayment Penalties

Students using loan apps can pay back the money faster with no financial penalties and can even partially prepay loan amounts.

100% Digital Process

Apply, upload documents, get approved, and manage payments all through student loan app interfaces quickly.

No Collateral or Credit Checks

These easy student loan providers approve applicants based on eligibility criteria beyond credit reports, scores, background checks or collateral assets.

By understanding these advantages, easy loan apps provide an accessible funding solution when federal loans, scholarships, grants, income sources, savings and family assistance can’t cover urgent educational expenses.

Eligibility Criteria for Easy Loan Apps

While each student loan app has specific qualifications, many share common criteria, including:

Enrollment Status

Proof of enrollment at an approved university or college.

Age Limits

Minimum age 18 years with upper age ranging from 28-35 depending on lender.

Income Thresholds

Minimum monthly or annual income from Rs. 15,000-25,000 or documentation of financial assistance.

Academic Performance

Minimum GPA, coursework completion rates, or exam scores.

Work Experience

Part-time job or internships may be required.

Identity Verification

Valid ID proofs like Aadhaar, PAN Card and Driving License.

Contact Information

Active phone number and email address.

Bank Account Access

Linkage to an active checking/savings account to receive funds faster

By meeting these standards, college students improve approval odds for easy student loans processed online through apps. In cases lenders might request references ask for a guarantor or consider data when making decisions.

Easy Loan App for Students In India

Pros and Cons of Easy Loan App For Students

Like any financial product, easy student loan apps involve tradeoffs. Consider these common pros and cons when borrowing money:


Fast access to emergency funds
Lower requirements than federal loans
Build credit history and score
Flexible repayment plans
Access without a job
Help cover budget gaps


Higher interest rates
Risk of debt spirals
Potential origination/processing fees
Harms eligibility for more loans
Missing payments damages credit

Finding an ethical lender and borrowing only what you reasonably expect to afford make all the difference in turning loan apps into responsible funding solutions. Prioritizing free aid options first allows you to use loans strategically in moderation.


Easy access to the extra money you need for college through loan apps can reduce stress and help you stay financially afloat. This guide reviewed the best loan apps for students, how they work, common features and eligibility criteria, as well as weighing the pros and cons of using loans to fund your education. Do your research to find a reputable provider that offers reasonable rates for your budget and degree path. Empower yourself financially by understanding what loan products work for your situation.

Leave a Comment