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Growing up and being a teen are the best times in life, but remember that independence comes with challenges and endless costs. It can be a nightmare to pay for college yourself.
Because most banks primarily lend to paid professionals, students are sometimes at a loss for solutions to their money problems. Don’t worry, we’ve rounded up several fantastic mobile apps and internet platforms that not only make loans easy and immediate. also provide liberal return policies with nearly no interest.
Thus, to all future heroes and entrepreneurs who are slowly making their way down the crooked path to independence, we give you these life-saving apps, you must always have on your phone.
mPokket is one of the easiest and most widely used loan options for college students, allowing them to borrow amounts ranging from 500 INR to 20,000 INR. All you have to do is download the app and upload copies of your student ID and Aadhaar card.
Money from mPokket may be deposited immediately into your bank account or Paytm wallet and must be healed within one to three months at a rate of 3.5 percent or higher (varies). Indeed, this is a win-win situation!
Note: Only full-time students aged 18 or older enrolled in a recognized university and possessing a bank account can apply for a loan. This deal is not available to correspondence students.
Offering convenient cash “anytime, anyplace” is the next entry on the list, dubbed “mPokket.” The app is a market leader in delivering instant loans to Indian students, who may use it to fund necessities such as tuition, recreational activities and personal costs.
The Pocketly app is on Google Play, and with a single click, you can apply for quick money loans that may be returned in easy installments with no minimum value requirement. Credit payback terms range from almost one to three months and are given at a monthly interest rate of around one to three percent.
Students may use RedCarpet to get immediate loans for various online and offline transactions. The app offers an interest-free, hassle-free one-month repayment period on loans ranging from 1,000 to 6,000 INR. Additionally, those opting for EMI alternatives have the choice of repaying the balance over a three, six, nine, or twelve-month period.
The software has an embedded tracker to protect its users’ safety and security at all times. Additionally, it provides a Platinum Mastercard that may be used for various purposes, including online purchases, ATM cash withdrawals, and point-of-sale transactions.
KrazyBee is another popular addition to our list and is an excellent source of quick cash for college students. You may apply for cheap credit loans with just your student ID card and proof of address to cover semester fees, educational expenditures, internet shopping, and even a two-wheeler.
The loan to KrazyBee can be repaid in 12 months via simple EMIs.
Note: Students aged 18 or older who are enrolled in a degree or diploma program at one of the recognized universities are eligible for the loans.
Sahukar is an easy-to-use online rapid lending platform that helps students to borrow between INR 500 and INR 5,000. Borrowed funds may be repaid in 90 days at a monthly interest of 3%. All you need to do is download the Sahukar app, register, and apply for the loan amount corresponding to your credit score.
The funds are immediately sent to your bank account or Paytm wallet. The app features electronic loan approvals without the need for physical documents, like a tempting referral bonus in the form of cash or discounts.
Introduction to Student Instant Loan Apps in India
Student Instant Loan Apps in India are an innovative new way of getting loans offering young students or those in need of funds a quick, simple and safe way to obtain their loan. Since its emergence in 2020, several Indian lenders have taken to granting students with an easy, smooth and hassle-free access to funds to help them in their studies and beyond.
Advantages of Student Instant Loan Apps in India
In comparison to traditional bank loans, instant loan apps offer a number of advantages to the Indian student. Below we look at some of them:
- Easy access: Applying for a loan is easy; all a student has to do is fill out a form and wait for approval.
- Speed: The approval of the loan is done quickly, enabling the student to get the funds rapidly.
- Flexible: Student Instant Loan Apps in India can be used for tuition fees, living expenses, books and other necessary expenses.
- Low interest rate: In comparison to most other banks, these apps offer competitive and low interest rates.
- Secure: Loan risks are negligible as repayment is done through the app.
Frequently Asked Questions about Student Instant Loan Apps in India
Q. How can I apply for a student instant loan in India?
A. Most apps require a simple application process which takes just a few minutes. Enter your personal and contact information accurately and you can get your loan disbursed in minutes.
Q. What is the maximum amount I can avail through these apps?
A. The maximum amount you can avail through these apps can range up to Rs. 5,00,000 depending on your eligibility.
Q. How safe is the data submitted by me?
A. Your data is secure and encrypted. Also, the loan repayment process is done on the app itself, so you do not have to worry about any fraud or misappropriation.
Q. How long do I have to pay back my loan?
A. Generally all student instant loan apps offer loans for duration that range from 6-18 months.
Summary:
Student Instant Loan Apps in India offer students an easy and convenient way to access funds for their studies and other needs. These apps offer competitive interest rates, ease of access, speed of approval and secure process for repayment of the loan. In addition to this, students can avail loans up to Rs. 5,00,000 and repayment options are flexible. With Student Instant Loan Apps, Indian students can now access funds quickly, safely and conveniently.