As a student in India, managing finances can be challenging, especially when unexpected expenses arise. Personal loans can provide a helpful financial cushion, but navigating the loan landscape can be daunting. In this article, we’ll explore the top 5 personal loan apps that cater specifically to Indian students, highlighting their features, eligibility criteria, and application processes.
- Buddy Loan
Buddy Loan is a popular personal loan app that targets students and young professionals. It offers loan amounts ranging from ₹10,000 to ₹5,00,000, with flexible repayment tenures of 6 to 36 months. The app’s USP is its speedy application process, with loan disbursal within 24-48 hours. Eligibility criteria include a minimum age of 18 years, a valid ID proof, and a minimum monthly income of ₹15,000. - Avail Finance
Avail Finance is a fintech startup that provides personal loans to students and salaried individuals. The app offers loans from ₹10,000 to ₹2,00,000, with repayment periods of 3 to 12 months. Eligibility requirements include being a student or salaried employee, having a valid ID proof, and a minimum monthly income of ₹15,000. - CashE
CashE is a digital lending platform that caters to the financial needs of students and young professionals. The app offers personal loans ranging from ₹10,000 to ₹1,00,000, with repayment tenures of 3 to 12 months. Eligibility criteria include being a student or salaried individual, having a valid ID proof, and a minimum monthly income of ₹15,000. - EarlySalary
EarlySalary is a leading fintech company that provides personal loans to students and salaried individuals. The app offers loan amounts from ₹10,000 to ₹5,00,000, with repayment periods of 3 to 12 months. Eligibility requirements include being a student or salaried employee, having a valid ID proof, and a minimum monthly income of ₹18,000. - MoneyTap
MoneyTap is a credit line app that provides personal loans to students and young professionals. The app offers loan amounts from ₹3,000 to ₹5,00,000, with flexible repayment tenures. Eligibility criteria include being a student or salaried individual, having a valid ID proof, and a minimum monthly income of ₹21,000.
Conclusion
The personal loan apps mentioned in this article offer convenient and accessible financial solutions for Indian students. When choosing the right app, consider factors such as loan amount, repayment tenure, eligibility criteria, and the overall user experience. Always read the fine print and compare offers to find the best fit for your financial needs.