Top 5 Students Loan Apps 2024- Best Student Loan Apps 2024

admin May 25, 2024 153 Views

Student Loan Apps 2024: Many students sometimes need money to pay school or college fees or for other study materials. But students face some problem in getting loan because they do not have any CIBIL history or any sufficient documents on the basis of which they can take the loan.

But in India, there are some such apps available for student loan which easily help a student to pay the study expenses or fees. In this article, we are going to talk about 5 such best loan apps from which you will get loan and which are also secure and these apps provide loan with reasonable interest rates.

Things to keep in your mind Before using Student Loan Apps

Before using student loan apps in India, there are several important factors to consider:

Research Thoroughly: Take time to research the various student loan apps available in the market (Best loan app for students in India 2024). Compare their features, interest rates, repayment terms and customer reviews to make an informed decision.

Read the Fine Print: Read the terms and conditions carefully, including interest rates, fees and penalties associated with the loan. Pay attention to any hidden charges or clauses that may affect the repayment process.

Check Eligibility Criteria: Make sure you meet the eligibility criteria set by the loan app including age, income and educational qualification. Some apps may also require a co-signer or collateral for approval.

Understand Repayment Options: Understand the repayment options available to you, including the loan tenure and frequency of installments. Choose a repayment plan that suits your financial situation and future earning potential.

Assess Customer Support: Evaluate the customer support provided by the loan app. Choose a platform that offers responsive customer service to address any questions or concerns you may have during the loan application or repayment process.

Secure Your Personal Information: Prioritize security and data privacy when using student loan apps. Make sure that the app (Best loan app for students in India 2024) follows strict security measures to protect your personal and financial information from unauthorized access or misuse.

Consider Alternatives: Explore alternative financing options like scholarships, grants, or government-sponsored education loans before choosing a student loan app. Assess their suitability and affordability based on your individual circumstances.

18% GST is applicable on all other charges except interest.
Your CIBIL score affects interest rates. Higher CIBIL = lower interest so always keep the habit of paying on time or in advance.
By keeping these factors in mind, you can make an informed decision while using student loan apps in India (Best loan app for students in India 2024) and manage your educational expenses effectively.

Do Read:- PaySense Se Personal Loan Kaise Le?

What is the eligibility for student loan?

To apply for student loan, you must have some necessary documents and you must be 18 years of age. Apart from this, after taking this loan, it should be repaid on time so that your CIBIL does not get spoiled in the future and when you enter a mature age, you do not have to resort to help when you need money again.

Main documents required for student loan

Aadhar card
Pan card

5 Best Loan Apps For Students

Actually, there are many loan apps available online which make it easy to take loan. But these days there are many fake loan apps too, so after doing research we have brought some best loan apps for you which give you loan even if you are a student. But keep in mind that if you do not make timely repayment in these loan apps, then your CIBIL score can get very bad.

Therefore, do not do this by taking a loan from loan apps and not making the repayment now because you may need a big loan anytime in the future. So let us know 5 such best loan apps from which students can take loan.

Do Read:- PNB Personal Loan Kaise Le 2024

1. Pocketly: Personal Loan App

Among the best loan apps for students, Pocketly Personal Loan App is at the first place from which loan can be taken easily. This app has been downloaded by more than 10 lakh people and has also received 4.0 star reviews. This app provides flexible loan to the students so that the student can easily repay the loan. Talking about the rating of Pocketly app, 3+ rating has also been given. Talking about the interest rate of this app, this app charges 1% to 5% interest every month and provides loan offers starting from Rs 500 to Rs 50000, which can be availed within a few hours with an easy process. Can.

Benefits of Pocketly Loan App

If we take loan from this app and pay EMI on time, our CIBIL score can increase.

In the beginning, you can easily get a loan ranging from Rs 1000 to Rs 10000.

Loan is available with fast process.

2. mPokket

The second best loan application for students is mPokket which is one of the fast and reliable loan providing apps. By installing this app from Play Store, you can easily take loan from it. Instant loan feature is available in this app using which students can avail loan.

Benefits of taking loan in mPokket

Loan gets approved in 10 months.
100% online process
money transfer in digital bank
To avail loan from mPokket app, you must have the following documents.
college id card
Aadhar card
pan card
And you must be 18 years old.

3. KreditBee

At number three is KreditBee App which is included in the list of best loan apps for students. This app also provides us loan with very fast processing. If any student needs emergency funds then he can easily avail it from this app. Loans up to Rs 80,000 are available through this app. However, this loan will be available on the basis of CIBIL score. But if your CIBIL score is fresh then perhaps you can initially get a loan of Rs 15,000 or less.

Benefits of KreditBee loan app

Loan ranging from Rs 3000 to Rs 80000 can be availed.
With 100% online process
You can apply anytime within 24 hours.
The loan comes to the bank account within 10 minutes.
You can keep EMI from 4 months to 36 months.
With very low processing fees.
Interest rates ranging from 16% to 29%.

4. Moneyview

Moneyview is also an amazing loan app about which you must have often seen ads on YouTube. These apps are also the best apps for loans, especially when it comes to taking loans for students. The special thing about this app is that its interest rate is very good.

This app charges you 8% to 15% interest on taking loan, which is very low compared to other apps. Apart from this, this app provides you loan on the basis of credit score like loan is available in other apps. With this app you also get a longer repayment period. With this app, you can initially take an education loan ranging from Rs 2000 to Rs 50000.

Benefits of Moneyview Loan App

Repayment period is available from 2 to 7 years.
Interest rate ranges from 8 to 16% only.
Higher amount loan can be availed on the basis of course also.
Loan can also be available on the basis of CIBIL score of the co-applicant.
If you are going to live in India then you can easily take education loan from this app.

5. Paysense

Paysense is also one of the trusted apps from where you can take education loan or student loan. Apart from this, you can also take personal loan or other loans from this app. Here you can avail education loan ranging from Rs 5000 to Rs 5,00,000 lakh. Your loan can be approved here very fast and you can take loan from this app with easy process.

Benefits of Paysense Loan App

You can take loan with easy EMI plan.
Easy digital process.
You can take loan even with zero credit history.
Peerless document process.
Facility to get loan disbursed quickly.

Do Read:- Branch Loan App 2024

Conclusion

So, in this article we got information about 5 Best Loan Apps For Students through which you can easily take loan for your education. Also, you can easily avail loan from these apps with digital process.

Still, it is advised to take loan and withdraw money through these apps as per your need. Also, you can raise money by knowing about these apps from other platforms. So that your security is also maintained.