In India, getting a good quality higher education can be an expensive affair. For many students, the expenses of education include moving to a city, living in rented apartments or hostels, buying study material, and hefty tuition fees.
If you are someone who is looking to pursue higher studies after school or college, and are looking for a way to fund that pursuit, you have come to the right place. In this article, we have listed the best loan providers for students.
The table below compares the loan apps featured in this article:
|
Loan App |
Loan Amount |
Rating |
Interest Rate |
|---|---|---|---|
|
Moneyview |
₹5,000 to ₹10,00,000 |
4.8 |
Starting from 14% p.a. |
|
Tata Capital Student Loan |
Up to ₹85,00,000 |
4.5 |
9.50% to 18% p.a. |
|
PaySense |
₹5,000 to ₹5,00,000 |
3.0 |
7% to 20% p.a. |
|
mPokket |
₹500 to ₹30,000 |
4.6 |
24% to 36% p.a. |
|
StuCred |
₹1,000 to ₹15,000 |
4.6 |
0% p.a. |
|
KreditBee |
₹6,000 to ₹10,00,000 |
4.6 |
12% to 28.5% p.a. |
|
BadaBro |
₹500 to ₹10,000 |
- |
- |
|
Fibe |
Up to ₹5,00,000 |
4.5 |
16% p.a. onwards |
|
CASHe |
₹45,000 to ₹3,00,000 |
4.4 |
33.53% to 36.6% p.a. |
|
LazyPay |
Up to ₹1,00,000 |
4.5 |
15% to 32% p.a. |
Below is a list of loan apps that are available to students. These apps can provide you with funds during an hour of need:
Instant personal loan to fund your education is available at your fingertips. With Moneyview, you can get an instant loan at interest rates as low as 14%. Download the Monneyview app, and you can take a loan of up to ₹10 Lakh in just 10 minutes.
Loan Amount
₹5,000 to ₹10 Lakh
Eligibility Criteria
Age: 21 to 57 years
Citizenship: Indian
Academic qualifications: Not required
Tata Capital offers students up to ₹85 Lakh unsecured and ₹2 Crore secured loans. Individuals between the ages of 18 and 35 who have completed 10+2 or a diploma are eligible to apply. The repayment tenure can be up to 15 years, and the loan sanction can be made before admission confirmation.
Loan Amount
Up to ₹85 Lakh
Eligibility Criteria
Age: 18 to 35 years
Citizenship: Indian
Academic qualifications: Completed 10+2 / diploma
Paysense offers instant loans for educational funding. Through their app, you can get instant loans from ₹5,000 to ₹5 Lakh. The whole application process is paperless, and you can apply even if you have no previous credit record.
Loan Amount
Up to ₹5 Lakh
Eligibility Criteria
Age: 21 years to 60 years
Citizenship: Indian
Academic qualifications: Not required
If you are over the age of 18, an Indian citizen, and a working student, you can apply for a loan from mPokket. mPokket provides a completely digital application process, which enables loan approval within minutes.
Loan Amount
₹500 to ₹30,000
Eligibility Criteria
Age: Over the age of 18
Citizenship: Indian
Academic qualifications: Proof of education
StuCred offers instant student loans with 0% interest rate. You can get instant credit with minimal documentation for textbooks, tuition, or emergency funds whenever you want. A small percentage of the loan amount is charged as a processing fee.
Loan Amount
Up to ₹15,000
Eligibility Criteria
Age: 18 years or older
Citizenship: Indian
Academic qualifications: Must be a college student in India
Through KreditBee, you can get a personal loan to fund your education. The interest rate ranges from 12%-28.5% p.a., and you can choose a tenure between 6 and 60 months.
To be eligible, you need to be between the ages of 21 and 60 and have a monthly income of at least ₹10,000.
Loan Amount
Up to ₹10 Lakh
Eligibility Criteria
Age: 21 to 60 years
Citizenship: Indian
Academic qualifications: Not required
BadaBro is an instant loan app that provides loans for working professionals and college students. All you need to do is download the app, create a profile, and choose the loan amount. The amount will be transferred to your account instantly.
Loan Amount
₹500 to ₹10,000
Eligibility Criteria
Age: Above 18 years
Citizenship: Indian
Academic qualifications: Must be a college student
Fibe is a popular instant loan app for students. You can get an education loan on easy EMIs with Fibe. Up to ₹10 Lakh can be availed for online or offline classes. You can choose your repayment tenure, which can be between 3 and 36 months.
Loan Amount
Up to ₹10 Lakh
Eligibility Criteria
Age: 21 to 55 years
Citizenship: Indian
Academic qualifications: Not required
With CASHe, you can get an education loan of up to ₹3 Lakh. The interest rate can vary from 2.79% up to 3% per month. All you have to do to avail the loan is download the app, provide your documents, and select the loan configuration you want.
Loan Amount
₹45,000 to ₹3 Lakh.
Eligibility Criteria
Age: 18 years or older
Citizenship: Indian
Academic qualifications: Completed 10+2 / diploma
LazyPay is a provider of instant loans to Indian citizens between 22 and 55 years old. All you need is a PAN card and a bank account, and you can get a personal loan to cover your educational expenses. You can get a personal loan of up to ₹5 Lakh in just a few minutes.
Loan Amount
Up to ₹1 Lakh
Eligibility Criteria
Age: 22 to 55 years
Citizenship: Indian
Academic qualifications: Not required
Loan apps offer instant or same-day approvals. This makes them beneficial for students who urgently require funds. Here are more benefits of loan apps for students:
Unlike banks, most loan apps only require basic KYC documents such as Aadhaar, PAN, and college ID. This eliminates complex paperwork and long verification processes.
Loan apps typically provide unsecured loans, meaning students do not need to pledge assets or arrange guarantors in most cases.
The entire application process is completed online. This allows students to apply anytime without visiting a bank branch.
Many loan apps accept applicants with no or limited credit history.
Students can borrow small ticket loans suitable for short-term needs. So, students can avoid unnecessary debt.
Students can build a credit score early by making timely payments. This improves the chances of future eligibility for credit cards and larger loans.
Loan apps can be a financial backup during emergencies when family support or savings are not available.
EMIs can be paid digitally via UPI, net banking, or auto-debit, making the whole process convenient.
Your monthly EMI is
per month for 5 months
Total Interest
₹1,004
Total Amount
₹51,004
Loan Amount
Min ₹10
Max ₹1,000,000
Rate of Interest
Min 5%
Max 25%
Loan Tenure
5
months
Min 3 months
Max 72 months
Student loan apps have made it easier than ever for students in India to have access to funds without lengthy paperwork or long waiting periods. Whether you need money for tuition fees, study materials, online courses, accommodation, or emergency expenses, these apps offer quick approvals, flexible loan amounts, and convenient repayment options.
Yes, students can get a personal loan by adding an earning member of the family as a guarantor.
Best Personal Loan Resources
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Disclaimer
The starting interest rate depends on factors such as credit history, financial obligations, specific lender's criteria and Terms and conditions. Moneyview is a digital lending platform; all loans are evaluated and disbursed by our lending partners, who are registered as Non-Banking Financial Companies or Banks with the Reserve Bank of India.
This article is for informational purposes only and does not constitute financial or legal advice. Always consult with your financial advisor for specific guidance.
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