“5 Best Personal Loan Apps for Students in India”

You must have seen elders borrowing from banks many times in your life. Loans help us financially by providing grants, but even today there is hardly any bank that gives loans to students, especially in India. That’s why we bring you the 5 best personal loan apps for students in India!

List of 5 Best Personal Loan Apps for Students

mbag

When it comes to providing student loans, mPokket is among the best out there. Even if it doesn’t give you big loans, you can easily get loans from INR 500 to INR 20,000. Here are the few things you should know about this app:

• All you have to do is present your student ID along with your Aadhaar card to register for this app.
• You can receive the loan amount either in your bank account or in your paytm wallet.
• The users have to repay the loan amount within a certain period of time and also have to pay the quite low interest rate of 3.5%.
• All full-time students over the age of 18 can use this app.

Red carpet

RedCarpet is another great app that students can use! It offers you loans between 1000 and 6000 INR. Here are its features –

• The best thing about this app is that it is interest-free and has a one-month return policy.
• Students can also opt for EMI alternatives from different eras. This will help them to easily repay the loan amount in easy installments.
• The app also offers a Platinum Mastercard that works just like your ATM card.
• There is also a tracker built into this app which is mainly for user safety.

pocket-like

If you are looking for one of the most convenient apps to get an instant loan in no time, Pocketly is it. With this app, you can get money at any time and then pay it back in easy installments. Here are some things you need to know about this app:

• Here the app has not set a minimum amount of credit, you can take a loan for all your basic expenses with the help of this app.
• You can repay the loan in very easy installments available for different periods of time.
• The interest rate is between 1 and 3 percent.

KrazyBee

If you are a student, KrazyBee is the app you all must have. It offers you easy credit loans for all your personal expenses. Here are its features –

• You must present your college ID along with proof of address to register for this app.
• It offers you easy credit loans for your personal expenses.
• There is a repayment period of up to 12 months in comfortable installments. All students over the age of 18 are eligible to receive credit through this app.

moneylender

Last but not least, Sahukar is in this list and offers you instant loans from INR 500 to INR 5000. Here are its features –

• This app gives you the flexibility to repay the loan within 90 days.
• There is an interest rate of 3% per month.
• Again, you can either transfer the loan amount to your bank account or your Paytm wallet, depending on your preference.