If you're a student trying to manage college expenses, travel costs, or even unexpected bills, getting access to quick funds can make a big difference. That’s where loan apps come in. These apps are designed to offer hassle-free, short-term loans without all the paperwork you'd usually expect. In this list, we’ll walk you through the 10 best loan app for students in India for 2025 that are student-friendly, easy to use, and help you borrow money when you need it most. Whether it's for books, rent, or a laptop, there’s likely an option here that fits your situation.

Best Loan App for Students

Here are the 10 best student loan apps in India that can help you with your financial needs:

1. Freo

   Freo revolutionises personal lending in India with its unique no-usage-no-interest feature, making it an affordable choice for students. Unlike traditional loans where you pay interest on the entire approved amount, Freo's innovative credit line model charges interest only on the funds you actually withdraw and use. This makes it particularly attractive for students who may need financial flexibility but don't want to incur unnecessary interest charges. The platform offers instant approval and flexible repayment options, positioning itself as a comprehensive financial solution rather than just another loan app.

   Key Features:

   • Amount: ₹3,000 to ₹5 Lakh credit line
   • Tenure: 2 to 36 months flexible EMI options
   • Age: 23 to 55 years
   • Interest Rate: Starting from 13% per annum (1.08% per month)
   • Eligibility: Must be a salaried employee with minimum take-home salary of ₹30,000/month or self-employed professional with income of at least ₹30,000/month
   • Processing Fee: Up to 2% of borrowed amount + GST
   • Setup Fee: ₹199 to ₹999 + GST
   • Documentation: PAN card, professional selfie, address proof, ID proof
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2. MoneyView

   MoneyView stands out as one of India's most popular digital lending platforms, offering unparalleled benefits for students seeking personal loans for educational purposes. The platform is particularly student-friendly as it allows parents, guardians, or friends to apply on behalf of students who don't have a regular income source. MoneyView's partner lenders use a sophisticated credit rating model that allows even applicants with lower credit scores to access loans, making it accessible to students who are just beginning their credit journey.

   Key Features:

   • Amount: ₹5,000 to ₹10 Lakh
   • Tenure: 3 to 60 months
   • Age: 21 to 57 years
   • Interest Rate: Starting from 14% per annum
   • Eligibility: Minimum CIBIL score of 650, monthly in-hand income of ₹25,000 for salaried or ₹15,000 for self-employed, income must be directly credited to bank account
   • Processing Fee: Starting from 2% of approved loan amount
   • NACH Bounce: ₹500 each time
   • Documentation: PAN number, mobile number linked to Aadhaar for KYC verification

3. mPokket

   mPokket has established itself as one of the leading instant loan apps specifically designed for students and young working professionals in India. With over 1.5 crore users trusting the platform, mPokket offers small-ticket loans that are perfect for students facing immediate cash needs. The app's strength lies in its incredibly fast processing time and flexible repayment options, making it ideal for students who need quick access to funds for educational expenses, hostel fees, or emergency situations.

   Key Features:

   • Amount: ₹500 to ₹50,000
   • Tenure: 61 to 120 days
   • Age: Above 18 years
   • Interest Rate: 0% to 4% per month
   • Eligibility: Students with valid college ID card; salaried professionals with ₹9,000+ monthly salary
   • Processing Fee: ₹50 to ₹200 + 18% GST depending on loan amount
   • Maximum APR: Up to 142%
   • Documentation: College ID card for students, last 3 months bank statement, salary slip for salaried professionals, Aadhaar card, PAN card

4. Pocketly

   Pocketly positions itself as the go-to financial partner for young India, specifically targeting students and young professionals aged 18 and above. What sets Pocketly apart is its focus on financial inclusion for young adults, offering credit access from as early as 18 years old when most traditional lenders require applicants to be 21 or older. The platform emphasises building credit history early, which can be invaluable for students planning their financial future. Pocketly also offers a unique feature where students without income can involve a guardian or friend who meets the income requirements to apply for loans.

   Key Features:

   • Amount: ₹500 to ₹25,000
   • Tenure: 3 months
   • Age: 18 years and above
   • Interest Rate: 2% per month onwards (24%-36% per annum)
   • Eligibility: Must be 18+ years old, residing in India, employed or having steady monthly income
   • Processing Fee: 1% to 8% of loan amount
   • Credit Limit: Can increase up to ₹10,000 with timely repayments
   • Documentation: Aadhaar card, PAN card, bank statements, proof of enrollment from college

5. Buddy Loan

   Buddy Loan operates as a comprehensive digital marketplace that connects students with multiple verified lenders, offering a wide range of loan options under one platform. Rather than being a direct lender, Buddy Loan serves as an aggregator, allowing students to compare various loan offers from different NBFCs and banks. This unique model gives students the advantage of choosing from multiple loan products, ensuring they get the best possible rates and terms suited to their specific needs. The platform is particularly beneficial for students as it accepts applications from those with credit scores as low as 650.

   Key Features:

   • Amount: ₹10,000 to ₹15 Lakh (varies by lender)
   • Tenure: 6 months to 5 years
   • Age: 21 to 60 years
   • Interest Rate: Starting from 11.99% per annum
   • Eligibility: Indian citizen, minimum credit score of 750 recommended, minimum income ₹15,000 per month
   • Credit Score: Various lenders available for different credit profiles
   • Documentation: Income proof, identity proof, address proof, bank statements
   • Special Feature: Aggregator model showing offers from multiple NBFCs

6. StuCred

   StuCred stands out as the only app offering truly interest-free loans exclusively for college students in India. Backed by Kreon Finnancial Services Limited, an RBI-registered NBFC, StuCred has gained the trust of over 10 lakh students across India. The platform's unique selling proposition is its 0% interest rate policy, making it the most affordable option for students who can repay within the stipulated timeframe. StuCred also focuses on helping students build their credit scores early, reporting to all major credit bureaus to establish a positive credit history.

   Key Features:

   • Amount: ₹1,000 to ₹15,000
   • Tenure: 61 to 120 days
   • Age: College students above 18 years
   • Interest Rate: 0% (interest-free)
   • Eligibility: Must be a full-time college student of recognised institution with minimum 3 months left until graduation
   • Processing Fee: ₹210 + GST of ₹37.8 (approximately ₹248)
   • APR: 113.28% (due to processing fees)
   • Documentation: College details, Aadhaar card, PAN/Driving License

7. SlicePay (Slice Credit)

   If you’re looking for a simple way to get credit while studying, Slice might be a good option to explore. It works like a mix of a credit card and a personal loan, so you can use it for everyday expenses or bigger needs. One thing that makes Slice appealing for students is how easy it is to get started. You only need to be 18 years old, and you don’t need a strong credit history to apply.

   Once you're approved, you can get instant access to up to ₹5 lakhs in credit. You can choose to pay it back all at once or break it into EMIs based on what works best for your budget. Plus, it’s UPI-enabled, which means you can use it to pay just like you’d use any regular UPI app. For students trying to manage college life and personal expenses, Slice keeps things smooth and simple.

   Key Features:

   • Amount: ₹2,000 to ₹10 Lakh credit limit
   • Tenure: 3 to 12 months EMI options
   • Age: 18 years and above
   • Interest Rate: 0% to 36% annually depending on usage
   • Eligibility: Must be Indian resident, salaried or self-employed individual, regular monthly income
   • Processing Fee: No joining or annual fees
   • Cashback: Up to 2% cashback on every transaction
   • Documentation: Identity proof, address proof, income proof

8. LendingPlate

   LendingPlate is a digital loan platform backed by Unifinz Capital India Limited, which is an RBI-registered NBFC. It’s designed to make borrowing quick, easy, and fully online. Once your loan is approved, the money can be in your account in just 30 minutes, and there’s no paperwork to slow things down.

   For students, LendingPlate is especially useful. It offers education-focused loans that you can use for tuition fees, study materials, hostel rent, or anything else related to your studies. If you're juggling academics and financial stress, this platform gives you a way to get support without going through a complicated or slow process. Everything is handled digitally, so it’s ideal if you prefer managing things from your phone or laptop.

   Key Features:

   • Amount: ₹5,000 to ₹2,50,000
   • Tenure: 3 to 15 months
   • Age: 21 years and above
   • Interest Rate: 12% to 36% per annum
   • Eligibility: Indian national, minimum take-home salary ₹20,000, salary credited regularly to bank account
   • Processing Fee: 1% to 5% of loan amount
   • Conversion Fee: 1% to 5% of loan amount
   • Documentation: Bank statement, payslip/ID card, Aadhaar, address proof

9. BadaBro

   BadaBro specifically caters to college students with its personal line of credit model, allowing students to borrow within assigned credit limits as needed. The platform empowers students to become financially independent by providing instant credit access through bank accounts or Paytm wallets. BadaBro's unique approach involves starting with a basic limit and allowing students to increase their credit limits through good repayment behavior. The app is designed to help students with various needs including pocket money, education expenses, hostel fees, and personal expenses.

   Key Features:

   • Amount: ₹500 to ₹1,00,000
   • Tenure: 30/60/90 days from disbursement date
   • Age: Above 18 years, full-time college students
   • Interest Rate: 1% to 6% per month
   • Eligibility: Must be full-time student of recognised college with minimum 3 months left until graduation
   • Credit Limit: Dynamic, starts from ₹1,000 with potential increases
   • Documentation: Aadhaar card, college ID card, latest mark sheet/money receipt
   • Disbursement: Instant credit to bank account or Paytm wallet

10. GetItNow

    GetItNow, developed by Kapiital Kapslock Private Limited, offers instant personal loans through its RBI-registered NBFC partner Amaravathi Financial Solutions Private Limited. The platform is designed to serve both students and salaried professionals with competitive interest rates and flexible repayment options. GetItNow's strength lies in its completely online process and secure loan disbursement system, making it convenient for students who need quick access to funds without complex paperwork.

    Key Features:

    • Amount: ₹500 to ₹50,000
    • Tenure: 61 to 120 days
    • Age: Students and salaried professionals
    • Interest Rate: 0% to 4% per month
    • Eligibility: College students; salaried professionals with ₹10,000+ take-home salary
    • Processing Fee: ₹50 to ₹200 + 18% GST depending on loan amount
    • Maximum APR: 142%
    • Documentation: Minimal documentation required, completely online process
    • Special Features: Rewards for timely repayments, flexible EMI options

FAQs

1. Which app is safe for student loans?

   Freo is one of the safer choices when it comes to student and personal loans. It works with regulated NBFC partners and follows all the digital lending rules set in India.

2. Can an 18-year-old apply for a loan?

   Yes, you can. If you're at least 18 years old and meet the eligibility conditions like income or credit history, you can apply for a loan through apps like Freo.

3. What is the interest rate on student loan apps?

   Interest rates aren't the same across all apps. They change depending on the loan amount, repayment duration, your profile, and sometimes even the app's internal guidelines.

4. Can I get a student personal loan without a PAN card?

   No, you can't. Most apps ask for a PAN card to verify your identity and check your credit background. It's a basic requirement for any personal loan in India.

5. What documents are needed to apply for a student loan?

   Here's a list of what you'll usually need:

   • PAN card
   • Aadhaar card or another valid ID proof
   • Proof of address
   • Proof of income (like salary slips, bank statements, or stipend documents)
   • Admission proof or your fee structure (for education-specific loans)

6. Can students get personal loans from Freo?

   Yes, but only if you have a steady source of income. If you don't, someone close to you like a parent, sibling, or friend who qualifies can take the loan in their name and use it to help with your education expenses.

7. What if I don't have a source of income? Can I still apply?

   You can't get a personal loan directly through Freo without income. But a family member or trusted friend who meets the requirements can apply for you.

8. Is a personal loan the same as an education loan?

   No, they serve different purposes:

   • An education loan is built specifically for your studies. It usually has lower interest rates, longer repayment periods, and needs admission proof.
   • A personal loan can be used for anything, including education, but often comes with higher rates and shorter tenures.

9. Do Freo personal loans offer flexible repayment options?

   Yes, Freo offers repayment terms that range from 2 months up to 5 years. The options depend on how much you borrow and if you meet their eligibility terms.

10. How fast is the loan processing with Freo?

    It's usually quick. If all your documents are in place and you qualify, the loan may get processed within a few hours or up to 2 working days.

11. How many photocopies of my documents should I submit?

    For online applications, you just need to upload one clear scanned copy or photo of each document. If the lender asks for physical copies later, they'll let you know how many, but usually one set is enough.