Being a student means dealing with plenty of struggles, and financial struggle happens to be one of them. Students find it hard to manage their educational expenses when they are unemployed. Whether it’s about monthly tuition fees, accommodation, crucial study materials, managing daily living expenses, or expensive courses, seeking financial support is important. That’s where the role of loan apps for students comes into play.
This blog discusses some of the most popular Emergency Loan apps for students through which we will learn their features. These apps prove beneficial for them as they embark on their educational journey.
Essential Points:
- The best loan apps for students offer not only flexible repayment options but also low rates of interest.
- Fast approval times and simple application processes are crucial for a great student loan app.
- Comparing various loan apps is important to finding the most reliable student loan app.
- Interest rates may differ among diverse loan apps, with some offering 1.08% monthly.
- Simple paperwork is required when students apply for cash loan.
- Students can access loans from ₹1,000 to ₹5,00,000 with flexible and simple repayment terms.
Many student loan apps are available in India. However, not every app meets the diverse and unique needs of the students. They are a fantastic option because they provide quick cash and offer a simple loan application process. Moreover, a student can secure the app without a credit history and it doesn’t require collateral.
Top 7 Cash Loan Apps for Students
mPokket
Are you ready to invest in your future, but worried about the financial obstacles you will experience throughout your educational journey? Fret not! mPokket is one of the fastest loan apps for students providing fast loans with tremendous popularity among students. Known for its wonderful facility of disbursing a quick loan amount, this loan offers flexibility to students to get the most out of its use.
Moreover, this cash loan app offers 4-month, short-term personal loans up to a maximum loan amount of ₹45,000. This amount is credited to your linked bank account. Students, all over the country, can use their valid college IDs and address proof to secure this loan without hassles.
Features:
- Immediate loan approval
- Significant repayment time
- Process flexibility
- Low-cost interest rate
KrazyBee
KrazyBee is another great and accessible online app that allows students to apply for an urgent loan. Many students prefer using this loan app over others as it schedules payments for them every month. Hence, KrazyBee allows students to alleviate their burden.
Providing instant funds to college students, the entire process takes place online – right from the loan application to its issuance. Expect the loan amount to be disbursed to your account within ten minutes.
Features:
- Enjoy an easy and student-friendly interface
- Diverse options for repayment
- Flexibility in using the loan amount
- A student is allowed to spend a maximum amount of ₹2,000 monthly
StuCred
StuCred is one of the only apps that offer 0% interest rates. A great online app for students, it is likely to understand the financial constraints a student tackles. This app provides fast- and short-term loans to students without hidden fees.
StuCred maintains utmost transparency while processing students’ loan applications. The application process is straightforward with clear terms and conditions. Moreover, it does not charge any interest from the students if they pay their loans promptly. You don’t need to provide anything as collateral to obtain an urgent loan.
Features:
- Offers a safe place to upload documents
- Fast and efficient procedure
- Students can apply to secure instant cash
- Helps students boost their credit score
KreditBee
KreditBee is one of the best apps that helps you apply for cash loan. The entire loan process takes place online and you can expect to secure the loan amount within 15 minutes. Offering different repayment periods and a secure platform to use for students, this app is a trusted choice. It is the right choice for students who want to obtain a loan at a competitive interest rate.
Features:
- Offers an easy online student loan application process
- The rate of interest is between 0% and 29.95%
- Quick loan approval facility
- A student can easily borrow from ₹100 to ₹3,00,000, and more with a special case
SlicePay
SlicePay offers loans of up to ₹10,000 to students (graduate and undergraduate). Expect a wonderful student loan at the lowest interest! As one of the top providers of student loans, this loan app provides an interest rate of 3% and a repayment tenure between 30 and 90 days.
To apply for an urgent loan through this amazing app, ensure you submit crucial details, such as your personal information and college ID. You also need to submit details regarding your PAN and Aadhaar cards. One of the best things about SlicePay is that it transfers funds through bank transfers or UPI (Unified Payments Interface) in no time.
Features:
- You’re eligible to get up to 2% cash back on every purchase you make
- It streamlines the transfer of the required funds to your bank account or PayPal through a Slice card.
- A student can obtain a loan of ₹2,000 to ₹10,00,000 through the SlicePay app
Pocketly
Designed specifically for students, Pocketly is one of India’s most flexible loan apps, offering a loan of up to ₹50,000. This awesome app provides a credit of ₹600. With a low fee to process the loan application, Pocketly is an ideal option for those students who do not have enough money or need instant cash. Apply for cash loan through this app and benefit from it in every possible way.
Features:
- Offers an increase in your credit limit
- An instant loan amount from ₹500 to ₹50,000
- Expect a monthly interest rate of 1% to 3%
Eduvanz
An innovative and reliable student loan app, Eduvanz provides students with easy study loans. Any student can apply for an urgent loan without providing any collateral or guarantor. This app’s goal is to ensure that every student in India is eligible to enroll in their preferred course.
Features:
- Offers a smooth loan application procedure
- Finances a wide range of courses and institutions
- Easy user-friendly interface
- Offers an interest rate of 0%
Due to the ever-increasing demand for education and personal financing among students, these apps have gained immense popularity in India. Not only do these provide an accessible, but they also provide a convenient way for students to apply for cash loan. Numerous students deal with financial crises when pursuing their higher education; thus, these apps play an essential role.
Wrapping Up
Even with support from the parents, all the underlying expenses can make it hard for students to handle the situation. With the availability of many loan apps in India, students now find it easier to apply for a loan. Not only do these apps require less paperwork, but they also cut the need to visit the bank.
Disclaimer:
The blog topics provided are for informational purposes only. They are not intended to promote, endorse, or advertise any financial product, service, or company. Readers are encouraged to conduct their own research and consult with financial experts before making any loan-related decisions. The information shared is based on general knowledge and should not be considered professional financial advice.
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