Recently, we are seeing that the cost of education in India has increased a lot, and we know that in this era, a middle-class boy or girl has to spend a lot on studies, which nowadays Has become an enormous problem. But now that is no more as Student Loan Apps have emerged as an efficient and convenient way for students to get funds for their educational expenses. Top 7 Student Loan Apps in India All these apps offer a hassle-free loan application process, quick approval, and flexible repayment options. In this article, we will give you detailed information about the Top 7 Student Loan Apps in India, which provides attractive features and benefits to borrowers.
Table Of Contents
- 1 Top 7 Student Loan Apps In india 2023 Full List
- 2 Top 7 Student Loan Apps In India 2023 Full Detail Explained
- 3 Top 10 Things To Keep In Mind Before Take Student Loan From Student Loan Apps
- 3.1 1. Research Multiple Options :
- 3.2 2. Check For Hidden Charges :
- 3.3 3. Understand The Interest Rates :
- 3.4 4. Loan Disbursement Process :
- 3.5 5. Repayment Flexibility :
- 3.6 6. Loan Duration :
- 3.7 7. Creditworthiness Assessment :
- 3.8 8. Privacy And Data Security :
- 3.9 9. Customer Support :
- 3.10 10. Alternative Financing Options :
- 4 Conclusion :-
- 5 Student Loan Apps – FAQ
Top 7 Student Loan Apps In india 2023 Full List
- Pocketly
- mpokket
- Kreditbee
- Stucred
- Slice Borrow
- Cashbean
- RedCarpet
Top 7 Student Loan Apps In India 2023 Full Detail Explained
1. Pocketly
Pocketly Student Loan App Provides Short-Term Loans For Students, One Of The Best Things About Pocketly App Is That You Can Close The Loan Of This App Anytime, We Know That Sometimes Students Do Not Have Enough Money. If It Does Not Happen, The Student Can Proceed Further By Paying The Minimum Amount Payable (EMI) Per Month. A Student Loan App Can Provide You With An Amount Of Up To ₹10,000, But Before That, You Must Make Timely Payments On The Pocketly App And Follow The Pocketly Norms. 600 Rs To The Students In Starting The Pocketly App. Give Credit Up To. Below Are The Key Features Of The Pocketly Student Loan App
Key Features of Pocketly Student Loan App –
- Loan disbursement time of Pocketly app – user-specific and dynamic
- Documents Required for Pocketly App – Video KYC, Aadhaar Card, and PAN Card
- Loan amount range of Pocketly app – ₹600 to ₹10,000
- Loan tenure of Pocketly app – 2 to 4 months
- Eligibility Criteria for Pocketly App – 18 to 30 Age
- Pocketly App Loan Interest -1% to 3% p.m.
- Processing fee in Pocketly app – ₹20 to ₹120 + GST
- APR – 12% to 36%
2. mPokket
Mpocket Student Loan App Has A Lot Of Advantages In Taking Loans For Students Because We Know That It Is Very Important To Free Students From The Burden Of Taking Loans. This App’s Loan Program Works Something Like That, It Is A Short-Term Loan Program Targeted At College Students. There Is A Special Thing In This App That Is Different From Other Apps, This App Has Mcoins. Rewards You With A Cashback Of Mcoins That You Can Redeem Later If You Repay The Loan Term On Time, Some Of The Features Of This App Are Given Below
Key Features of mPokket Student Loan App –
- Loan disbursement time of mPocket app – in just 2 to 5 minutes
- Documents Required for mPocket App – Voter Card or Aadhaar Card or Driving License, Pan Card and College ID
- Loan amount range of mPocket App – ₹500 to ₹30,000
- Loan tenure of mPocket App – 2 to 4 months
- Eligibility Criteria for mPocket App – 18+ Age
- mPocket App Loan Interest -0% to 4% p.m.
- mPocket app processing fee – ₹50 to ₹200 + GST
3. Kreditbee
Kreditbee Is A Quick Student Loan App, Which Is Available Within About 15 To 20 Minutes, And Comes Directly To Your Bank Account, You Should Be A Little Older To Use This Student Loan App, What Makes This Loan App Different From Other Loan Apps Are Some Of The Features Of Kreditbee Student Loan App.
Key Features of Kreditbee Student Loan App –
- Loan Disbursement Time of Kreditbee App – just 5 minutes
- Documents Required For Kreditbee App – Pan Card and Aadhaar Card
- Loan Amount Range of Kreditbee App – ₹1300 to ₹50,000
- Loan Tenure of Kreditbee App – 3 to 10 months
- Eligibility Criteria for Kreditbee App – 21+ Age
- Kreditbee App Loan Interest -18% to 30% p.a.
- Kreditbee App Processing Fee – ₹85 to ₹1800 + 2.5% of the Loan Amount + GST
- APR – 70% max
4. Stucred
Stucred Student Loan App Has Been Used By Many Indian College Students For A Long Time. This Student Loan App Has Made Its Significant Place In The Hearts Of All The College Students Due To Its Highest Credibility. This Loan App Requires You To Have A UPI ID As This Student Loan App Uses Only This Method For Bank Transfer. Some Features Of Stucred App Are Given Below.
Key Features Of Stucred Student Loan App –
- Loan Disbursement Time Of Stucred App – Just 1 To 5 Minutes
- Documents Required For Stucred App – Pan Card, Aadhaar Card, And College ID
- Loan Amount Range Of Stucred App – ₹1000 To ₹10,000
- Loan Tenure Of Stucred App – 2 To 3 Months
- Eligibility Criteria For Stucred App – Age 18+
- Stucred App Loan Interest – 0%
- Stucred App Processing Fee – 6% Per Month
- APR – 72% Max
5. Slice Borrow
The Interest Rate Of Slice Borrow Student Loan App Is Comparatively Better Than Other Student Loan Apps. Slice Borrow Loan App Provides Students With Interest-Free Loans For One Month Regardless Of The Amount. Some Features Of the Slice Borrow App Are Given Below.
Key Features Of Slice Borrow Student Loan App –
- Loan Disbursement Time Of Slice Borrow App – Instant
- Documents Required For Slice Borrow App – Pan Card And College ID
- Loan Amount Limit Of Slice Borrow App – Up To 5 Lakhs
- Loan Tenure On Slice Borrow App – 12 Months
- Eligibility Criteria For Slice Borrow App – 18+ Age And College Students
- Slice Borrow App Loan Interest – 0% (If Repaid Within A Month)
- Processing Fee In Slice Borrow App – 3% Of The Loan Amount
6. Cash Bean
Cash Bean Student Loan App Is A Reliable Source For Students To Take Student Loan Because Cash Bean Loan App Is Approved By RBI And P&C Financial Services Pvt. Ltd. Is Registered With. And The Unique Thing About Cash Bean Loan App Is That There Is No Need Of Your Credit History While Applying For The Loan. Some Features Of Cash Bean App Are Given Below.
Key Features Of Cashbean Student Loan App –
- Cashbean App Loan Disbursement Time – Instant
- Documents Required For Cashbean App – Aadhaar Card And Pan Card
- Loan Amount Range Of Cashbean App – ₹ 1500 To ₹ 60,000
- Cashbean App Loan Tenure – 3 To 6 Months
- Eligibility Criteria For Cashbean App – 18+ Age And College Students
- Cashbean App Loan Interest – 0.07% Per Day
- Processing Fee In Cashbean App – ₹90 To ₹2000 + GST
- APR – No Instruction Given
7. RedCarpet
Redcarpet Student Loan App Is One Such Student Loan App That No Student Will Ever Be Able To Leave Their Further Studies Due To Lack Of Finance. The Student Can Avail Student Loan Anytime From Redcarpet App In A Very Easy Way And Without Any Extra Hassle. Some Of The Features Of the Redcarpet Student Loan App Are Given Below.
Key Features Of Redcarpet Student Loan App –
- The Redcarpet Loan App Only Requests A Line Of Credit Without a Down Payment.
- Redcarpet Loan App Has A Ruby Card, It Can Be Taken Only By Those People Who Have Got A Personal Loan From The Business.
- With Redcarpet’s Debit Card, You Can Withdraw Up To $1000 Without Paying Additional Fees.
- A Very Special Thing About Redcarpet App Is That It Has A Tracker. This Makes It Easy To Monitor, Keep Track Of Your Spending And See Your Full Account Every Day.
Top 10 Things To Keep In Mind Before Take Student Loan From Student Loan Apps
1. Research Multiple Options :
- It Is Necessary To Research And Find Out About All The Other Options Available In The Market Other Than Student Loan Before Finalizing The Student Loan App. Compare Various Aspects Including Interest Rates, Loan Processing Fees, Repayment Terms, And Customer Reviews To Identify The Student Loan App. Because Student Loan Apps Can Be Identified According To That.
2. Check For Hidden Charges :
- Read The Terms And Conditions Of Student Loan Apps Carefully Because It Is Necessary To Find Out Whether There Are Any Hidden Charges Or Not From Any Online Student Loan Apps You Are Taking Loan From.
3. Understand The Interest Rates :
- It Is Very Important To Do A Thorough Analysis Of The Interest Rates Of The Student Loan That We Can Get Through Student Loan Apps. By The Way, There Are Many Online Student Loan Apps in 2023 Which Provide Loans At A Much Higher Interest Rate Than Traditional Banking Institutions.
4. Loan Disbursement Process :
- By The Way, There Are Many Student Loan Apps Which Take Time To Collect The Loan And There Are Many Loan Apps Which Disburse The Loan Directly To Your Bank Account. Before Taking A Loan From Student Loan Apps, You Must Go Through The Process To Ensure That This Online Student Loan App Suits Your Financial Needs And The Way You Plan To Use The Loan.
5. Repayment Flexibility :
- There Are Many Such Student Loan Apps Which Do Not Provide Any Kind Of Flexibility In Repayment And On Top Of That, They Have Penalties. But You Have To Check That The Student Loan App You Have Chosen Offers Options Like a Grace Period After Course Completion, Flexible Repayment Terms, Or The Ability To Prepay The Loan Without Penalty? Choose An App From Top 7 Student Loan Apps In India That Offers Suitable Repayment Options Based On Your Financial Status And Expected Income.
6. Loan Duration :
- Consider The Loan Tenure Or Tenure Provided By The Given Loan Apps In Top 7 Student Loan Apps. Sometimes The Loan Tenure Is Reduced To Reduce The Interest And The Monthly Installment Is Higher Due To The Shorter Loan Tenure. Bear In Mind That Longer Loan Tenures May Offer Lower Monthly Installments But Result In Higher Interest Outgo Over Time. You Choose The Loan Tenure Keeping In Mind Your Circumstances And Ability To Repay On Time.
7. Creditworthiness Assessment :
- Many Loan Apps Do Not Assess Your Credit Before Approving The Loan, But There Are Many Loan Apps That Can Assess Your Credit Before Approving The Loan. They May Evaluate A Number Of Factors Such As Academic Performance, Future Earning Potential, Or Credit History.
8. Privacy And Data Security :
- It Is Our Duty To Protect The Privacy And Data Of Any LOAN APP Because We Have Got STUDENT LOAN From That LOAN APP, So Give Priority To The Privacy And Data Security Provided By STUDENT LOAN APPS.
9. Customer Support :
- Before Taking Loan From STUDENT LOAN APPS Or After Taking Loan, We Need To Know Many Things About That Loan App In Case Of Any Query, Problem, Or Delay In Loan Disbursement Or Repayment. Then We Can Get That Information Very Well From The Efficient Customer Support Center Of That LOAN APP.
10. Alternative Financing Options :
- You Need To Evaluate Their Terms, Interest Rates, And Repayment Options Before You Commit To Student Loan Apps.
Conclusion :-
It Is My Personal Opinion That Students Should Not Go For Loan If There Is No Need. I Do Not Recommend This Student Loan Apps 2023 To You Because The Debt Pressure Is Unfortunate Which Can Also Cause Unpleasant Incidents Going Forward, And This Debt Pressure Can Also Become A Hindrance In The Student Studies, Although All This Is Less. . Using This Student Loan Apps 2023 Responsibly, This Loan Apps Has Proved To Be A Boon For The Student.