A lot of times in your life you must have seen elders taking loan from banks. Loan helps us financially by providing funding but even in today’s time, there’s hardly any bank out there who provides loan to the students, particularly in India. This is the reason why we are here to tell you about 5 best personal loan apps for students in India!
List of 5 Best Personal Loan Apps For Students
When it comes to providing loans to the students, mPokket is among the best one out there. Even though it won’t provide you big amount loans but you can easily get loan from 500 INR to 20,000 INR. Here are the few things to know about this app –
- You just need to provide you student ID along with your Aadhaar card in order to get yourself registered for this app.
- You can receive the loan amount in either your bank account or in your paytm wallet.
- The users are required to return the loan amount in a certain period of time and they also need to pay the interest rate of 3.5% which is quite low.
- All the full-time students of or above the age 18 can use this app.
RedCarpet is another amazing app that the college students can go for! It provides you the loan from anywhere between 1000 INR to 6000 INR. Here are its features –
- The best thing about this app is that it is interest free and comes with a 1-month return policy.
- The students can also opt for EMI alternatives that ranges from different periods. This will help them to easily repay the loan amount in easy instalments.
- The app also offers a Platinum Mastercard that functions just like your ATM card.
- There is also an in-built tracker in this app which is mainly for the safety and security of the users.
If you are searching for one of the most convenient app to get instant loan in no time, then it has to be Pocketly. This app provides you money anytime and you can then repay it in easy instalments. Here are some of the things that you need to know about this app –
- Here the app has not set any minimum amount for the loan, you can take loan for any of your basic expense with the help of this app.
- You will be able to repay the loan in very easy instalments that is available for different periods of time.
- The interest rate will range from anywhere between 1 to 3 percent.
If you are a college student then KrazyBee is that one app that all of you need to have. It is going to provide you easy credit loans for all your personal expenses. Here are its features –
- You need to provide your college ID along with one address proof to get yourself registered for this app.
- It will provide you easy credit loans for your personal expenses.
- There is a repayment period of up to 12 months in easy instalments. All the students of 18 age are eligible enough to avail credit through this app.
Last but bot the least is Sahukar in this list and it provides you instant loan from 500 INR to 5000 INR. Here are its features –
- This app provides you the flexibility of 90 days to repay the loan.
- There is an interest rate of 3% per month.
- Here also you can get the loan amount in either your bank account or your Paytm wallet, as per your preference.