12 Apps To Get Education Loan For Students In India

12 Apps To Get Education Loan For Students In India-A lot of students are facing problems when it comes to funding their education and it has been a nightmare for majority of them especially for those whose parents cannot afford it.

Some of them try to turn to some banks and financial institutions for education loans to help them finance their college education but the paperwork and requirements makes it difficult for them to assess the loans but what if we well you we have something huge for you in this article.

READ ALSO: How to Earn Money Online in India for Students

Do you know you can get loans to finance your college education and meet up without expenses at your own convenience even without going to any bank?

In this article, we will be listing some apps and online platforms that you can get education loans and these apps provide you with easily accessible and instant loans with flexible return policies with almost no interest rate. Isn’t this great!!

-12 Apps To Get Education Loan For Students In India-

So without further ado, let’s delve into what we have for you:

  • Cash Bean

This is one of the best apps for education loan in India and it is available for Android-based smartphones. This app offers instant loan up to INR 60,000 and they charge a processing and service fee of 18% of the requested loan amount.

Their loan application process doesn’t require any paperwork and you will pay an interest of 33% per annum. You will have to show some source of income to get the loan.

The processing time for the loan is as short as 48 hours and you will have to be between 21 and 56 years of age to be eligible for the loan.

  • mPokket

This is another platform for college students to get instant loan and they even offer loan as low as 500 INR to as high as 20,000 INR.

For you to apply for instant loan on this app, you will have to download the app, submit copies of your student ID and Aadhaar card then you are good to go.

You will receive the money from mPokket directly to your bank account or Paytm wallet although it has a repayment period of one to three months with an interest rate of 3.5% which is even low.

You must be a full-time student of 18 and above studying under a recognized university and have a bank account for you to be eligible for the loan.

  • KreditBee

If you are looking for an easy app, here you go. They offer loan amount up to 20,000 INR and charge interest rate up to 29.5 percent per annum. You will have to upload all your documents through the app and the app is available to iPhones and Android-based smartphones.

For you to be eligible for the loan, you must be between the ages of 21 to 56 years.

  • Pocketly

You should look into this wonderful app as it is one of the most reliable apps when it comes to instant loans for students in India as they offer loan that can cover your tuition fees and even personal expenses.

They offer a loan up to 50,000 INR to students and the app is available on Google play-store so you can get the education loan easily. One sweet thing about getting loan from the app is that you can repay the loan installmentally with no minimum value.

The repayment period is one to three months and they offer loans at 1% to 3% interest rate per month and 12% to 36% per annum.

  • KrazyBee

This is another great app for instant loan that offers loan amount as low as 1,000 INR to as high as 10,000 INR and it has a very fast processing time so if you are looking to get small amount of cash, this is the place you should look at.

You will have the option of repaying in as many as 12 months from the date of loan disbursement and it is available to Android users.

The money will be paid to your bank account or Paytm wallet with 24 hours if your application is being approved. So it is a good one to try.

You must be 18 years or more and be enrolled in a recognized university under a degree or diploma program to be eligible for the loan.

-12 Apps To Get Education Loan For Students In India-

  • RedCarpet

This great app allows students to receive instant loans for online and offline transactions and they provide loans with no interest with one month return policy for loans between 1,000 INR to 6,000 INR. If you are applying for EMI alternatives, you will have the option of repaying the amount on a three, six, nine and twelve-month basis.

It is truly a red carpet app like the name implies and this is why it is one of the most sought-after apps by students in India. The app is made with an in-built tracker to ensure the safety and security of it users at all times. Isn’t this great?

It also offers Platinum MasterCard that you can use for a range of functions like online transactions, ATM cash withdrawal and POS transactions.

  • BadaBro

When it comes to app for loan for students, then you should look at this app because it is made specially to offer loans to students with a hitch-free process.

They offer loan amount up to 10,000INR with a repayment period of 30 to 90 days and you will require a PAN card and Aadhar card to apply for loans on the app.

To be eligible for loans on BadaBro, you will have to be 18 years and above.

  • Sahukar

This is a nice app for students that are looking for small loans up to 5,000 INR and the interest rate charged is about 3% per month on the required loan amount.

They have a quick processing time as short as 24 hours and you have the option to pay the loan within one to three months from the date of disbursement.

You must be 18 years and above and also have a valid student ID issued by a recognized college or university.

  • SlicePay

This app has a partnership with MasterCard and offer loans to students at no cost EMIs. They offer loan amount up to 10,000 INR to students in undergraduate and graduate courses with a repayment period of 30 to 90 days.

They charge an interest rate of 3% per month and the money will be paid to your bank account or through Unified Payments Interface for quicker disbursement but you will have to provide details such as your name, college where you are studying and ID card number along with Aadhar and PAN details when applying for the loan on the app.

  • UGPG- Student loans

This app is quite smaller compared to all the apps we have talked about so far and but one sweet thing about the app is that it is easy to understand and user as the UI is amazing.

You will be required to submit your student ID card and after verification, you can easily app for a loan. The loan has a repayment period of 2 months with low interest rate.

-12 Apps To Get Education Loan For Students In India-

  • StuCred

This is another wonderful app for instant loan for college students as you can access the loan anytime and anywhere, all you will have to do is your ID verification by submitting your address proof and student ID card to apply for the loan.

There is a list of universities that the app is working for and so you can check if you university or college is on the list of approved universities that their students can access loan on the app.

  • Udhaar Card

This app works perfectly for students that want to collect smaller loans and the application process is quite easy too. They offer loan amount up to 5,000 INR with repayment period between 30, 60 or 90 days with low interest rate.

Final Note

We have shown you some of the best apps that you can get education loans in India and so you don’t need to worry much about how you would get funds for your education as these apps got you covered.

They have quick and easy application process with no paperwork so this is the best option for you if you don’t want to go through the much paperwork involved in collecting education loan from banks and other financial institutions.

Also, these apps do not require any form of security or collateral for loan unlike banks and so you see that they are the best options when it comes to get instant loan to fund your education and also meet up with other expenses.

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