Top 25 Personal Loan Apps For Students, Unemplyoed, Salaried

Introduction

The need for reliable access to financial services has been in demand in India for years. Over the last few years, technology has helped bridge the gap between customers and various financial needs by providing secure and fast access to services. Loan apps have become especially popular in India over the last few years and offer a convenient and safe way for people to access money when they need it.

There are a variety of loan apps available in India and the top 25 most trusted are listed below. These loan apps have been scrutinized by financial experts and found to be reliable, safe and secure for customers.

Pay Sense

It is one of the most comprehensive platforms for borrowers as it follows a customer-friendly and automated loan processing technology.

Customers will have the ability to manage their repayments through digital wallets, UPI and net banking options.

The interest rate varies from 14-22% per annum depending on the customer’s credit history.

Paysense’s application process requires minimal documentation and approval can be obtained instantly in most cases.

Indie Lends

IndieLends is an innovative loan origination platform that helps borrowers access quick finance with easy and convenient loan amounts. It has been designed to provide competitive interest rates, flexible terms and express funding options to bridge the short-term liquidity needs of businesses. 

The amount of loan available from this platform varies depending on the borrower’s credit history, collateral, business returns- and risk profile; ranges from Rs. 1 lac to Rs. 3 Crores for periods up to 60 months for Indian MSMEs (Micro Small Medium Enterprises).

CASHe

They offer up to Rs 1 lakh as a loan amount, depending on the customer’s creditworthiness, income and repayment capacity. CASHe also offers special benefits such as no processing fees and quick disbursal of funds within 30 minutes after successful application.

Lending Club

Number one on my list is Lending Club. It allows you to borrow funds from other people, with interest rates as low as 4.19%. It’s also one of the safest loan apps out there, backed by several financial institutions, making it a great choice for borrowers.

mPokket

provides loans ranging from ₹500 to ₹20,000, making it an ideal financial solution for college students and recent graduates. With just a valid college ID and proof of address, students from all over the country can apply for a loan with mPokket. For young professionals, a payment receipt, bank statement, and valid identification and residency documents are required.

Prosper

Prosper is another top choice for loan apps. They provide unsecured loans, so you won’t be required to put down collateral to get the loan. As for rates, prosper offers competitive rates, ranging from 5.99% to 36%.

Affirm

Next on the list is Affirm. What makes this loan app stand out is its flexible payment options. You can choose to pay your loans off over 3, 6, 12, 18, or 24 months. Plus, you can use Affirm to buy some items directly from over 600 retailers.

Kabbage

At number five on the list, we have Kabbage. This loan app could be a good fit for those who have a history of taking out loans and have good credit. Plus, Kabbage has great customer service and a user-friendly website.

Avant

If you are looking for a more traditional loan option, then Avant might be the right choice for you. Avant offers both secured and unsecured loans at competitive rates ranging from 9.95% to 35.99%.

PockBox

At number 7, we have PockBox. It was designed to provide fast loans for people with less-than-perfect credit. You can borrow up to $2,500 via PockBox, but you’ll have to pay from 1.50% to 5.99% in interest.

Earnin

This app provides users access to a paycheck advance without the traditional loan fees. Instead, users pay what they think is fair or are allowed to donate, making it an excellent option for the unemployed.

LendUp

This app is ideal for those who need more than a few hundred dollars and have bad credit. LendUp offers loans from $100 to $2500, without the traditional application fees.

Credit Karma

This enables users to check their credit scores, view and compare loans and cards, and get personalized loan recommendations, all at no charge. This can be a great resource for the unemployed to get insights into their credit situation.

National High-Interest Savings Association (NHTSA)

A free online program that helps people save and secure loans. With the NHISA app, users can apply for a loan of up to $1,000, with no collateral required.

Early Salary App

It is designed to cater to the financial needs of students who need instant funds. It offers quick loan approvals and flexible loan tenures.

CreditMate app

offers loans with one of the lowest interest rates and easiest loan approvals. It is especially ideal for students who want to borrow money to purchase books and other items.

Flexi Loan app

offers loan instalment payments so that students can manage their repayments without a hassle. It is often hailed as one of the best loan apps for students in the country. Interest rates 12% p.a.

MoneyTap app

It is designed to provide easy access to loans for college expenses. It features a user-friendly interface and a quick approval process. The interest rate of 1.08% per month (13% per annum)

Simpl App

It is a one-stop solution for college education loan applications. It features a simple, hassle-free application procedure and a quick approval process.

InCred app

It is best for short-term loan requirements for educational expenses. It provides easy access to loans and simple repayment options.

Unsecured Business Loans	15%-35%
Student/ Education Loans	11%-15%
Secured School Finance	11%-18%
Loan against Properties	11%-24%

Cashkumar app

It is a great option for students needing funds urgently. It provides quick approval and easy loan disbursement. Interest Rates start from 1.7% per month.

LoanTap

LoanTap is also a loan app that enables users to borrow money according to their needs and pay it off in instalments. This app provides loans ranging from Rs 15,000 up to Rs 5 lakhs and users can repay their loans over a tenure of 2-5 years. The interest rate can range from 15% to 24% p.a.

ZestMoney app

If you have any kind of bad credit, this app can be immensely helpful because it doesn’t require a credit score. It offers loans of up to ₹2.4 lakhs, and you can choose from a variety of repayment options. Interest rates start at 14%.

Bajaj Finserv app

They offer personal loans of up to ₹25 lakhs with a very low-interest rate. You can even apply through their website if you don’t want to use their app.

Home Credit India Finance

This app is available in many Indian cities and offers personal loans and consumer durable loans to unemployed individuals. It is known for its speedy and easy loan disbursal process.