College is expensive whether it’s exam fees, hostel rent, a broken laptop, or a side hustle that needs fuel.
And while traditional banks ask for endless paperwork, these loan apps are built for students: simple, fast, and often with zero credit history required.
Let’s break down the 7 best student loan apps in India, what makes them great, and what to watch out for.
1. KreditBee
Perfect for: Final-year students, freshers with internship income, or students who’ve just started freelancing.
KreditBee offers instant personal loans that require minimal documents and no co-signer making it one of the best Loan Apps out there. It’s great for those who are just entering the working world or need funds to invest in courses, gear, or travel.
- Loan Amount: ₹1,000 to ₹2 lakhs
- Interest Rate: Starts at 1.02% per month
- Tenure: 3 to 15 months
- Approval Speed: Usually within 10–15 minutes
- Requirements: PAN card, Aadhaar card, basic bank proof (selfie + account)
What’s great:
✔️ High loan limit for a student app
✔️ Useful app interface
✔️ No need for a long income trail
🔗 Apply at KreditBee
2. Slice (Credit Card Alternative)
Perfect for: Students who want the flexibility of credit, UPI access, and exclusive cashback offers.
Slice isn’t like traditional loan apps. It works more like a student-friendly credit line, where you can buy now, pay later, or break payments into easy EMIs, all without a conventional credit card.
- Type: Prepaid credit line (with no joining fee)
- Spending Limit: ₹2,000 to ₹10,00,000 based on profile
- Interest Rate: 0% if paid within 30 days; EMIs applicable after
- Tenure: Up to 12 months
- Docs Required: PAN, Aadhaar, selfie; sometimes college ID
Why students love it:
✔️ Cashback and discount offers
✔️ You can use it for food, travel, gadgets, etc.
✔️ Accepted by 99% of merchants online + UPI included
🔗 Sign up at SLICE
3. mPokket
Perfect for: First and second-year students who need quick, short-term loans.
mPokket is built for students, it understands that your needs may be small, but urgent. The entire application process is fast and light.
- Loan Amount: ₹500 to ₹30,000
- Interest Rate: 1% to 4% monthly
- Repayment Tenure: 1 to 3 months
- Approval: Within the same day
- Docs Needed: Aadhaar card, PAN, college ID, selfie
Why it works:
✔️ You can repay via UPI or wallet
✔️ App is extremely beginner-friendly
✔️ Great for emergency hostel expenses or project fees
🔗 Get started here at mpocket
4. LazyPay
Perfect for: Students who want instant credit for UPI or online payments without using a credit card.
LazyPay is India’s most popular Buy Now, Pay Later (BNPL) platform, and it works like a digital credit line. You spend now, repay later, either in one go or via easy EMIs. Perfect for students who regularly order online or manage subscriptions.
- Loan/Credit Limit: ₹2,000 to ₹1 lakh
- Interest Rate: 0% for BNPL; EMIs start around 1.5% per month
- Tenure: 15 days (BNPL) to 12 months (EMIs)
- Approval Speed: Within 2–5 minutes
- Requirements: PAN, Aadhaar, linked mobile number, email
Why it’s ideal for students:
✔️ Instant UPI credit for Swiggy, Zomato, Amazon, Flipkart, etc.
✔️ EMI options for slightly bigger spends (like courses or gadgets)
✔️ Doesn’t require income proof in most cases, trust score-based
5. MoneyTap
Perfect for: Students who’ve started earning (internships, freelancing) and want a credit line that grows with them.
MoneyTap acts like a digital personal loan + credit card hybrid. You only pay interest on what you use and you can borrow anytime once approved.
- Loan Amount: ₹3,000 to ₹5 lakhs
- Interest Rate: 1.08% onwards monthly
- Tenure: 3 to 36 months
- Approval Time: Few hours
- Docs: Aadhaar, PAN, and minimal proof of income
Why it’s powerful:
✔️ Borrow again without reapplying
✔️ Great for recurring educational investments (courses, gear)
✔️ App shows EMI and interest calculations clearly
6. SmartCoin
Perfect for: Students who freelance or help out at family businesses and want to build credit score early.
SmartCoin is a short-term micro loan apps with a super-fast onboarding process. You don’t need a job, just some digital footprint and a bank account.
- Loan Amount: ₹4,000 to ₹70,000
- Interest Rate: 2%+ per month
- Tenure: 3 to 12 months
- Approval: 10 minutes average
- Documents: Aadhaar, PAN, selfie, bank passbook/screenshot
Why we rate it:
✔️ You can reapply with higher limits
✔️ Good for college entrepreneurs or freelancers
✔️ Easy UPI + wallet-based repayment
7. PaySense
Perfect for: Students ready to take on larger education or setup costs (laptops, certifications, upskilling).
PaySense offers structured personal loans with longer repayment options, ideal for students who have side income, co-signers, or decent bank movement.
- Loan Amount: ₹5,000 to ₹5 lakhs
- Interest Rate: 1.3% to 2.3% monthly
- Tenure: 3 to 60 months
- Documents Needed: PAN, Aadhaar, selfie, bank statements
Why PaySense is solid:
✔️ Longer repayment means lower EMI burden
✔️ Easy EMIs for coaching classes or gear
✔️ One-time setup, flexible use cases
Before You Apply: 5 Quick Tips for Students
- Borrow only what you need, not what you want
- Always check final EMI and total payable amount before confirming
- Look for NBFC-backed apps, avoid shady APKs or apps with bad reviews
- Set reminders for EMI dates to avoid late fees or credit damage
- Don’t take multiple loans at once, it damages your credit profile early
Final Thoughts: Loans Are Tools, Not Traps
Being broke in college sucks. But it’s okay to take help when you need it, just do it smartly.
These 7 apps are perfect for students who:
- Don’t have a credit score
- Need cash for growth, not luxury
- Want flexibility + minimal paperwork
- Prefer fast digital approval instead of old-school banks
💬 Got questions?
Want a breakdown of which app is best for your situation (freelancer, hosteller, startup student, etc.)?
Drop a comment below or DM me directly.
I’ll help you compare, choose, and apply step-by-step.
Let’s make money moves the right way.
Want to earn money as a college student. Checkout our previous blog: