10 Best Student Loan Apps in India for 2024

Best Student Loan Apps in India

India’s financial landscape has dramatically shifted in recent years, especially regarding student loans. With the rise of Internet lending firms, getting a student loan has always been complex. This article will examine the top 10 student loan apps in India and how they all cater to the unique needs of Indian students.

The Need for Student Loan Apps

Students may feel overwhelmed by the many costs of higher education, including tuition, housing, transportation, and food. Unlike conventional banks’ long and cumbersome procedures, student loan apps come on top. These applications offer several advantages, including quicker financing, more straightforward acceptance, and, in many cases, the absence of collateral or credit history requirements.

Top 10 Student Loan Apps in India


Quick loan approvals and an easy-to-navigate user interface made PaySense renowned. Many people may now attend university without stressing about how they will pay for it. The app allows quick loan approval and disbursal; collateral is not required for loans under ₹4 Lakh.

Key Features:

Ranging from 5,000 to 5,00,000 rupees
Must be between the ages of 18 and 35
Payback Period: 5-12 Years
Interannual Rate of Interest: 8.5% to 11%


With one of the fastest loan approval processes, mPokket offers up to ₹45,000 in short-term loans. Sending the money straight to the student’s bank account is an easy way to cover unexpected expenses.

Key Features:

From five thousand to thirty thousand rupees
Requirement: Must be 18 or older
Duration for Reimbursement: 61-120 Days
Interest rates are from 1% to 4% each month.


Pocketly stands out for its versatility and low processing cost. The firm offers students in a bind quick personal loans with a minimum credit limit of ₹600.

Key Features:

Loan amount: 500,000 to ₄,50,000
Requirements: 18–30 years of age
Repayment Period: 2–12 Months
Interest rate monthly: 1% to 3%


KreditBee allows both paid individuals and college students quick money access. This program claims to discharge your loan in 10 minutes. Hence, it’s perfect for those instances when you need money.

Key Features:

Limit Loan Amount: 4,00,000 Indian Rupees
Essential Age: 21–50
Payback Times: 3–60 months
Monthly interest rates go from 1.02% to 2.49%.


CASEHe offers quick loans and operates digitally and paperlessly. It is ideal for students who pay individuals without a credit history needed during application.

Key Features:

Loan amount: ₹50,000 – 1,000,000
Age Restricted: 21 years of age and above
The payback time runs from three to thirty-six months.
Interest rates ranging from 12% to 30% yearly

Bajaj Finserv

Well-known in the banking industry, Bajaj Finserv offers flexible repayment terms and relatively low interest rates for student loans. The student’s need guides them to provide both secured and unsecured loans.

Key Features:

Loan: ₹50,000 – ₹25,00,000
Age Restricted: Eighteen years and above
Term of repayment: 12 to 84 months
Interest rate: 12% to 16% annual.


One digital payment system that also provides credit facilities to students is Slice. Young borrowers mostly choose it because it offers a simple application procedure with few documents.

Key Features:

Loan Amount: ₹ 2,000 – ₹ 1,00,000
Age Restricted: 18 years and higher
Three to twelve months is the payback period.
Interest Rate: 2% to 3% monthly


NIRA provides personal loans to young professionals and students without significant credit history. Fund distribution is rapid, and the application procedure is simple.

Key Features:

Loan Amount: ₹5,000 – ₹1,00, 000
Age Limiter: 21 to 55 years
Period for repayment: three to twenty-four months
Monthly rate of interest: 1.5% – 2.5%.


StashFin offers quick personal loans available via a hassle-free online application. With affordable rates and rapid disbursements, it meets students’ financial demands.

Key Features:

Loan: ₹ 1,000 – ₹ 5,00,000
Age Restricted: 18 years and higher
Three to thirty-six months is the payback period.
Interest Rate: 11.99% – 59.99% yearly


Flexible and zero-cost EMI options are well-known features of ZestMoney. Students may better control their money by turning their purchases into simple monthly instalments free from extra interest.

Key Features:

Loan Amount: ₹ 1,000 – ₹ 2,00,000
Age Restricted: 18 years and higher
Repayment term: three to twenty-four months
Interest rate: 0% to 2% monthly

Features and Benefits of Student Loans in India

Accessibility: Student loans help to make education more reasonably priced and readily available.

Repayment Period: Unlike other loans, student loans usually have a longer payback duration.

Partnerships: Many educational institutions arrange student loans by working with banks and non-banking financial corporations (NBFCs).

No Collateral: Generally, most student loans do not call for collateral or security.

Tax Benefits: Section 80E of the Income Tax Act allows people to claim tax deductions on the interest paid on student loans for up to 8 years.


Apps that help students and their families pay for student loans are beneficial in India. These apps allow students to put their financial worries aside and concentrate on their education by providing easy access to cash with less paperwork and individualised loan plans. Nevertheless, making prudent and responsible use of these loans is crucial. Students should research their options, read the fine print, and choose the best app for their budget before applying.


Q. What is the maximum loan amount I can get through student loan apps in India?

A. Every app has a limited loan amount. PaySense will let you access ₹5,00,000; Bajaj Finserv will let you access ₹25,000,00. Check the fine print of every app’s policy.

Q. Do student loan apps in India require collateral?

A. Most Indian student loan applications do not need collateral up to a particular level. Using applications like PaySense and KreditBee, which provide unsecured loans, students without assets might find it easier to handle money.

Q. What is the typical interest rate for student loans from these apps?

A. Depending on the app, monthly interest rates range from 1% to 4% or 8.5% to 30%. Comparing pricing can help you identify the best bargain for your needs and choose an app appropriately.