Which App Gives Loans to Students?

Last Updated : July 23, 2020, 12:18 p.m.

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You can borrow money for your college expenses without any hassle with a mobile app. Using the student loan app, you can fill up an application form and get the loan to your bank account without any hassle. All you need to do is download any of the student loan apps available and apply for a loan . Read this post and know the mobile apps that provide funds for college expenses.

KrazyBee

You can use the KrazyBee app to borrow loans for college expenses. You just need to provide your College ID and address proof to get the loan amount. And it provides you a repayment tenure of 12 months. It is India’s Largest Student Credit Platform. Look at some of the features of this mobile app.

• Hassle-free financing with doorstep service
• Pay in easy EMIs
• Minimal documentation
• Low down payment
• Less processing time
• Partnerships with the leading brands

Eligibility

• You should be a minimum of 18 years
• You must have enrolled yourself for a full-time degree or non-diploma course in a recognized university
• Your college must be listed in the approved set of colleges
• Your graduation date should be 3 months before the loan application

Documents Required

• ID Proof: College ID card
• Address Proof: Aadhaar Card, Voter ID, Driving License, Passport (Any One)

How to Apply?

To use the service, download the KrazyBee College Student Loan App on your Android or iPhone from Apple or Play store. After that, upload the documents stated above, complete a video verification process and sign the loan agreement online. Make a minimal down payment before a loan proceeds.

mPokket

To get instant personal loans, college students can use this loan app. Just download the app and upload your photos and ID proof such as an Aadhaar card. You can apply for a loan of INR 500 to INR 20,000, which gets disbursed to your bank account or Paytm wallet quickly. You can pay the borrowed loan over 1-3 months at an interest rate that starts from 3.5% per month.

Eligibility

Only a student who is attending a full-time undergraduate or postgraduate course in a college under a recognized university is eligible to borrow money using the mPokket loan app. Students pursuing a correspondence course are not eligible. And your age should be a minimum of 18 years, and you must have a bank account to apply for the loan.

SlicePay

SlicePay, in partnership with MasterCard, offers loans to students at no-cost EMIs. Download this loan app and sign up for it by submitting your name, College ID and address proof. Use the SlicePay no-cost EMI service and borrow a loan from it. You can pay using UPI, debit card or net banking service.

How to Apply?

• Download SlicePay loan app
• Register for the membership by submitting the proof
• Then log in to your account
• And complete an on-site verification process to activate the card

Sahukar

It is a digital lending platform for students to help them meet their financial needs like education expenses. Using the Sahukar loan app, you can create a profile and use your credit limit to borrow a loan, which ranges from INR 500 to INR 5,000. You can pay the borrowed loan in 90 days. And the interest rate on your loan is 3% per month.

BadaBro

Using the BadaBro loan app, students can borrow instant loans. You can be financially independent and pay for the borrowed loan over the chosen repayment tenure. The loan amount is based on the line of credit provided to the student as per their eligibility.

Eligibility

• You should be a full-time college student
• Age should be 18 years or above.
• Graduation date must be 3 months before the date of application

Key Features

• Instant disbursal to your Bank or Paytm account
• 24/7 Access
• Flexible EMIs for 30 to 90 days

Documents Required

• Aadhaar Card
• College ID Card
• Latest Mark sheet
• Money receipts issued by your college

How Does it Work?

• Download Badabro App
• Upload the documents
• Wait for approval and the credit limit is assigned to you. You will be notified via SMS or mail for the same.
• Select the loan amount, tenure and Bank or Paytm account where the loan will be disbursed
• Repay the loan using Debit Card, Paytm wallet or UPI