Best Loan App for Students
Students can avail of personal loans for their college expenses, trips, or lifestyle expenses with some instant personal loan apps. These paperless loans enable you to fill out an online application form and get the funds credited directly to your bank account without any hassle. To get these loans, students have to download an instant loan app for students on their smartphone and apply online. Some of the best loan app for students include mPokket, Pocketly, KreditBee, CashBean, and so on.
Best Loan Apps for Students in India (2026)
Below is the list of some of the best loan app for students available in India:
| App Name | Interest Rate | Loan Amount | Tenure |
|---|---|---|---|
| mPokket | 1.58% - 3.00% p.m. | Up to ₹2 Lakhs | 6 - 24 months |
| Pocketly | 2.00% - 3.00% p.m. | Up to ₹25,000 | 2 - 6 months |
| KreditBee | 12.00% - 28.5% p.a. | ₹6,000 - ₹10 Lakhs | 6 - 60 months |
| Slice | 3% p.a. onwards | ₹2,000 - ₹10,000 | 1 - 3 months |
| CashBean | 0.07% per day onwards | ₹1,500 - ₹1 Lakh | 3 - 12 months |
| BadaBro | 1.00% - 6.00% p.m. | ₹500 - ₹10,000 | 2 - 3 months |
| PaySense | 14.00% - 36.00% p.a. | ₹5,000 - ₹5 Lakhs | 3 - 60 months |
| StuCred | 0% p.a. | ₹1,000 - ₹15,000 | 3 - 12 months |
| Sahukar | 2.00% - 6.00% p.m. | ₹100 - ₹5,000 | 1 - 3 months |
Benefits of Using Student Loan Apps
Here are the key benefits of getting an instant loan through personal loan apps for students:
- An easy way to get extra cash for books, exams, trips, or to meet daily expenses.
- 100% digital process to secure a loan.
- Get money directly credited into your bank account.
- Pay back in easy instalments.
- Very few documents are required.
- Fast online eligibility check.
- No need to have a credit history or credit score.
- Approval within a few minutes.
- Zero paperwork and bank queues.
- Low interest rate and processing fee.
- No collateral or pledge of security required.
- Full transparency with no hidden costs.
- Easy and convenient access 24/7.
Eligibility Criteria for Instant Loan App for Students
Below are the eligibility criteria for a personal loan availed through a student loan app:
- Undergraduate/ graduate students, freshers/ interns pursuing education with part-time income.
- Minimum age should be 18/ 21 years and above.
- Indian national.
- Minimum monthly personal income of ₹10,000/ minimum household income of more than ₹25,000.
- Must have an Aadhaar-linked mobile number.
- Must have a valid college ID card/ any other similar document and an Aadhaar Card.
- Some lenders may require a PAN card.
Documents Required for Urgent Loan Apps for Students
Best loan apps for students require the following documents for personal loans:
- KYC documents
- PAN card, Aadhar card, and college ID
- A government-approved, valid identity and address proof
- Photograph
- Income proof (Bank Statements showing monthly income)
Steps to Apply for a Loan via Student Loan App
Here are the easy steps to apply for a loan through a student loan app:
- Download and install the preferred student loan app on your smartphone.
- Register with your mobile number and email ID
- Upload your Aadhaar/PAN, Employee ID/College ID.
- Fill in a few basic details to complete your profile.
- Based on the information provided, get approved for the loan.
- Add bank account details to receive the loan directly into your bank account.
FAQs
mPokket, Pocketly, KreditBee, and CashBean are some of the best apps for student loans.
Yes, some apps offer personal loans to students as well.
Download and install the preferred student loan app on your smartphone, fill in some basic details to complete your profile, upload the required documents, and, upon approval, get the loan directly into your bank account.
Check interest rates, loan amount limits, tenure, processing fees and other charges offered by the apps to choose the best loan app for students.
mPokket, KreditBee, CashBean, and Pocketly apps are generally safe for student loans.
StuCred offers interest-free loans for students.
No, most student loan apps do not require a CIBIL score.
Reshma Rawat is a passionate writer, with a decade of experience in writing for a variety of domains (finance, technology, lifestyle, e-commerce, real estate, etc.). Currently, she is working as Assistant Manager - Content @MyMoneyMantra, and writes blogs & webpages on financial products (loans, credit cards, insurance, financial policies by government, mutual funds, etc.
Abhijeet Singh has comprehensive experience in business writing, content management, SEO, social media and user analytics. Key areas of expertise include stock markets and personal finance.