We all have been students in our lives and are well aware of all the risks and issues that we face as students, be it academic pressure or the struggle to manage various finances without having any real source of income.
As students, we have many expenses to meet every day, such as new books, assignments, cab fare, and others. However, the lack of any real source of income makes it difficult to manage all these expenses since we cannot always ask for more money from our parents.
Hence, to help students manage all these expenses without many issues, leveraging advanced technologies brands have developed apps to offer instant loans for students. As we move forward with this blog, we will discuss some of the most commonly available apps designed to offer instant loan for students.
Instant Loan Apps in India
As we said, leveraging advanced technologies, brands have developed instant loan online apps that can offer instant loan approval to students without any heavy documentation and with minimum processing.
Furthermore, these apps offer interest-free loans to students which makes it easier for the students to manage their expenses. With an easy repayment plan, you can get access to these funds and make the most out of these funds.
Furthermore, with the help of these instant loan-for-students apps, you can get varying amounts of loans approved and ensure that all your excessive expenses are covered. This offers the students much-needed flexibility and convenience for managing all their expenses without having to worry about getting a full-time job and having a regular income.
Best Instant Loan for Students Apps
Below we are going to enlist some of the most commonly available instant loan app for students that you can explore next time you are in need of emergency funds and require some additional funds for managing all your expenses at a flexible timeline.
- SlicePay
With SlicePay students can avail of an instant loan with a minimum documentation requirement with a credit limit of Rs 10,000 for a tenure of 30-90 days. This app offers a 3% interest rate for the loan amount which the students can manage easily.
After the loan application has been submitted the loan amount is instantly disbursed to students using a simple bank transfer of UPI (Unified Payments Interface).
With SlicePay both graduate and undergraduate students can avail of instant loans and ensure to repay within the stipulated time to avoid any late fee or penalty charges.
- PaySense
Another name in the list of instant loan for students apps is PaySense which offers an instant loan to students in case of emergencies. The credit limit with this app ranges from Rs 5000-50,000 which allows students to manage all their expenses. This huge credit limit further ensures that the students get enough amount of loans for their every day and any emergency expenses as well.
The loan tenure with PaySense is up to 5 years which is an ample amount of time for the students to repay their loan amounts without having to worry about anything. However, with this long tenure comes a heavy interest rate of 16-36%.
The loan processing time is quick and the loan amount gets transferred to the bank account instantly for use.
- Pokket
Moving forward we have Pokket, another Small loan apps for students that offers a credit limit of Rs 3000-30,000 and mainly focuses on college students and recent graduates as their target audience. This app also offers loans to students with minimum documentation across the country, with a valid college ID and government ID as the only requirement.
Furthermore, it offers a 1-6% interest rate with a loan tenure of 61-120 days (4 months approx.). This makes it convenient for students to apply for instant loans and manage all their expenses seamlessly without having to worry about a regular income.
- Pocketly
Lastly, we have Pocketly which can easily offer a loan of up to Rs 50,000 to students who are 18+ with basic documentation of ID verification. With Pockelty the interest rate ranges from 1-3% per month which makes it easy for students to manage their expenses without having to worry about interest rates.
Additionally, it offers a loan tenure of 3 months which allows students to have sufficient time to repay the loan amount without any late fee or penalties. This app doesn’t require any collaterals or co-signers to sign for the loan amount, which makes it convenient for the students to get access to funds.
FatakPay: Instant Loan App
Similar to the above-listed instant loan for student apps, FatakPay is also an instant loan app that offers you quick loan amounts directly to your bank accounts in case of emergencies. It doesn’t require heavy documentation and offers you the best possible offers in the market when it comes to loan offers.
Furthermore, it quickly processes your loan application which makes it easy for you to get access to funds, with an easy repayment plan you can easily manage these apps and your finances with FatakPay.
Additionally, this is backed by RBI-registered NBFCs which makes the platform safe and secure to be used by the users to avail instant loan amounts. However, FatakPay doesn’t offer instant loans to students yet, but it can offer salaried, and self-employed individuals the best offers in the market based on their credit scores.
For more details download FatakPay today and enjoy the benefits of minimum documentation, fast processing, and easy repayment plans.
Author: Fatak Pay
FatakPay, a fintech platform, is one of the leading instant personal loan providers in India. The company is aimed at providing fast and secure credit to help individuals manage their day-to-day expenses in emergencies. FatakPay is easy to use and completely safe for users. One can get an instant personal loan by applying online in a few simple steps. The quick and transparent application and approval process is what sets FatakPay apart from other online loan apps available in the market.
