Being a student in India today means juggling more than just classes and exams—it often means managing expenses on a tight budget. Whether it’s a sudden need to pay for coaching classes, exam fees, hostel rent, a new laptop for assignments, or even last-minute travel home, money doesn’t always show up when you need it.
That’s exactly why instant loan apps have become a financial lifeline for many students. These apps offer quick, small-ticket loans that don’t require a credit score or income proof, just a college ID and a few documents. With minimal paperwork, fast approvals, and flexible repayments, they’re built to support student life without the usual stress of borrowing.
In this blog, we’ve listed the top 30 instant loan apps in India for students that offer features similar to (or better than) mPokket. If you’re looking for fast, reliable, and student-friendly loan options, this guide is for you.
Why Do Students Need Instant Personal Loans?
Student life comes with its own set of financial challenges. While many rely on family support or scholarships, there are often moments when funds fall short—unexpected expenses, educational costs, or even emergencies that require immediate attention. In such situations, an instant personal loan can provide a quick and accessible financial cushion, helping students stay focused on their studies without unnecessary stress.
Here’s why instant loans are often a practical solution for students:
Common Reasons Students Opt for Instant Personal Loans
- Education-Related Expenses
- Fees for coaching classes, online courses, certifications, or exam registrations often come up unexpectedly and need to be paid right away.
- Hostel Rent or Living Costs
- Paying for monthly rent, mess charges, groceries, or transportation can be tough when allowances or part-time job income run low.
- Gadgets and Study Materials
- Whether it’s buying a laptop, phone, or even essential books and stationery, some costs just can’t wait.
- Emergency Situations
- From medical emergencies to urgent travel back home, students may need funds quickly when there's no time to wait for traditional loans or help from family.
- Building Credit Early
- Taking small, manageable loans and repaying them on time helps students start building a healthy credit score for future financial needs.
- Side Hustles or Skill Development
- Some students invest in tools, software, or short courses to support freelancing, content creation, or small online businesses.
With the right instant loan app, students can handle unexpected expenses with confidence, without interrupting their academic journey or depending entirely on others.
Key Features and Benefits of Instant Loan Apps for Students
Instant loan apps aren’t just about fast cash—they’re designed to meet the unique needs of students who often don’t have a credit history or steady income. These platforms combine convenience with flexibility, making borrowing simple and stress-free for young users navigating college life.
Here’s a closer look at what makes these apps student-friendly and effective:
Key Features
- Simple, User-Friendly Interface
- The apps are built with clean, intuitive layouts, so even first-time users can easily understand the loan application process.
- Instant Loan Disbursal
- Once approved, the money is usually transferred to the student’s bank account or digital wallet within minutes or a few hours—ideal for emergencies.
- No Credit History Required
- These apps are designed for students, so they don’t expect a CIBIL score. A valid college ID and basic KYC documents are often enough to get started.
- Custom Loan Amounts
- Students can borrow exactly what they need—whether it’s ₹500 for notes or ₹20,000 for exam fees—with flexible loan amounts.
- Flexible Repayment Plans
- Most apps allow students to choose repayment tenures that fit their cash flow, with the option to repay weekly or monthly.
Key Benefits
- Saves Time and Effort
- The entire process—from applying to disbursal—is digital and fast. No paperwork. No bank visits.
- Promotes Financial Independence
- Students can manage small expenses on their own, reducing their dependency on parents for every financial need.
- Helps Build Credit Early
- Regular, timely repayments help build a positive credit history—something that can be very useful later for larger loans or credit cards.
- Low to Zero Processing Fees
- Many student-focused apps have minimal or even zero processing charges, keeping borrowing affordable.
- Purpose-Driven Loans
- Some apps allow students to borrow specifically for education-related needs like course fees, books, or upskilling, making funds more relevant and focused.
With features tailored to student life and benefits that go beyond just money, instant loan apps are becoming a smart, reliable tool for young individuals managing their finances.
Eligibility Criteria for Student Personal Loan
When applying for student loans, there are specific eligibility criteria that students must meet. Here's an overview of the requirements
| Criteria | Details |
|---|---|
| Age Requirement | Typically 18 years or older |
| Identification Proof | Valid Aadhaar card |
| Enrollment Status | Enrolled in a recognised educational institution |
| Financial Dependency | Dependent on parents or guardians |
| Citizenship | Must be an Indian citizen |
Documents Required for Student Personal Loans
When applying for a student loan, specific documents are required to verify eligibility and financial standing. Here's an overview of the necessary documents:
| Document Type | Details |
|---|---|
| Identification Proof | Aadhaar Card, PAN Card |
| Enrollment Proof | College ID/Admission letter |
| Proof of Income (if any) | Part-time income documentation |
| Co-signer/Guarantor Income Proof | Income proof from co-signer or guarantor |
Interest Rates and Fees for a Personal Loan
Applying for a personal loan, understanding the interest rates and fees is essential. Pocketly prioritises transparency, ensuring you know what to expect.
Interest Rates
Pocketly offers rates starting from 2% per month, depending on factors like your credit score and repayment tenure. The goal is to keep your EMIs affordable.
Loan Processing Fees
A processing fee of 1% to 8% is deducted from your loan upon approval, covering administrative costs.
Penalties
Timely payments are key. Missing an EMI incurs overdue charges, while bounced NACH payments result in a small fee.
With Pocketly, you can confidently manage your instant personal loan, knowing there are no hidden costs!
Personal Loan EMI Calculator
A personal loan calculator is a helpful tool to estimate your monthly payments (EMI) and the total interest you’ll pay over the life of a loan. It factors in the loan amount, interest rate, and repayment tenure to give you an accurate picture of your monthly obligations.
Formula
To calculate EMI:
EMI = [P × (R/12) × (1 + R/12) ^N] / [(1 + R/12) ^N - 1]
Where:
- P = Loan principal
- R = Monthly interest rate (annual rate divided by 12)
- N = Number of monthly instalments
Example
Let's say you borrow ₹1,00,000 at an annual interest rate of 12% for a tenure of 24 months. First, convert the annual interest rate to a monthly rate by dividing by 12 (so 12%/12 = 1% or 0.01). Plugging these values into the formula:
EMI = [P × (R/12) × (1 + R/12) ^N] / [(1 + R/12) ^N - 1]
P = ₹1,00,000 (Principal Loan Amount)
R = 12% per annum (or 0.12)
N = 24 months
It becomes: EMI=(1+0.01)24−1100000×0.01×(1+0.01)24
This would give you an EMI of approximately ₹4,707. This means you’d pay ₹4,707 every month for 24 months until the loan is fully repaid.
A loan calculator simplifies this process, helping you plan your finances better.
Let’s explore some of the top choices for student friendly personal loan apps. Keep scrolling through!
Top 30 Instant Loan Apps for Students in India 2025
With dozens of student-focused loan apps available today, it can be hard to figure out which one actually fits your needs, especially when you need money fast. That’s why we’ve done the research for you.
This table compares the top instant loan apps in India like Pocketly, mPokket, KreditBee, and more, covering key factors such as platform availability, loan amounts, monthly interest rates, processing fees, and standout features
| App Name | Platform | Loan Amount | Interest Rate (per month) | Processing Fee | Key Features |
|---|---|---|---|---|---|
| Pocketly | Android, iOS | ₹1,000 - ₹25,000 | Starts from 2% | Minimal; varies by loan amount | - Quick approval and disbursal - No collateral required - Flexible repayment options - Designed specifically for students |
| mPokket | Android, iOS | ₹500 - ₹30,000 | Starting from 4% | ₹50 to ₹200 | - Instant loans for students and salaried individuals - Minimal documentation - Quick disbursal - Flexible repayment tenures |
| KreditBee | Android, iOS | ₹1,000 - ₹3,00,000 | Starting from 1.02% | 2.5% of loan amount | - 100% online process - Quick approval and disbursal - Flexible repayment tenures - No collateral required |
| CASHe | Android, iOS | ₹1,000 - ₹3,00,000 | Starting from 2.5% | Up to 3% of loan amount | - Instant personal loans - Social profile-based credit scoring - Flexible repayment options - No guarantor or collateral needed |
| PaySense | Android, iOS | ₹5,000 - ₹5,00,000 | Starting from 1.4% | 2.5% of loan amount | - Instant personal loans - Minimal documentation - EMI calculator available - Pre-approved loans for eligible users |
| Slice | Android, iOS | Up to ₹5,00,000 | Starting from 1.5% | Varies; minimal charges | - Instant credit line - No annual fees - Flexible repayment options - Rewards and discounts on transactions |
| Navi | Android, iOS | ₹10,000 - ₹20,00,000 | Starting from 1.5% | Nil to minimal | - Instant personal loans - Fully paperless process - Health and home loans also available - User-friendly interface |
| MoneyTap | Android, iOS | ₹3,000 - ₹5,00,000 | Starting from 1.08% | 2% of loan amount | - Credit line facility - Pay interest only on the amount used - Flexible EMIs - No collateral required |
| Bajaj Finserv | Android, iOS | ₹30,000 - ₹25,00,000 | Starting from 1.5% | Up to 3.99% of loan amount | - High-value personal loans - Flexible tenures - Minimal documentation - Pre-approved offers for existing customers |
| LazyPay | Android, iOS | ₹10,000 - ₹1,00,000 | Starting from 1.5% | Varies; minimal charges | - Instant personal loans - Buy Now Pay Later options - One-tap payments - No collateral required |
| Dhani | Android, iOS | ₹1,000 - ₹15,00,000 | Starting from 1% | Varies; minimal charges | - Instant personal loans - Integrated wallet and card services - Cashback and rewards - Health services subscription |
| Fibe (formerly EarlySalary) | Android, iOS | ₹5,000 - ₹5,00,000 | Starting from 2% | Up to 2% of loan amount | - Instant salary advances - Flexible repayment options - No collateral required - User-friendly app interface |
| ZestMoney | Android, iOS | ₹1,000 - ₹2,00,000 | Starting from 0% (for select partners) | Varies; minimal charges | - EMI without credit card - Instant approval - Wide merchant network - No pre-closure charges |
| SmartCoin | Android | ₹1,000 - ₹70,000 | Starting from 2% | Varies; minimal charges | - Instant personal loans - Caters to individuals with varying income levels - Minimal documentation - Quick disbursal |
| RupeeRedee | Android | ₹10,000 - ₹25,000 | Starting from 3% | Varies; minimal charges | - Instant personal loans - 100% digital process - Minimal documentation - Quick approval and disbursal |
| Kissht | Android, iOS | ₹3,000 - ₹1,00,000 | Starting from 1.25% | Varies; minimal charges | - Instant personal loans - EMI card for shopping - Wide merchant network - Flexible repayment options |
| FairMoney | Android | ₹1,000 - ₹1,00,000 | Starting from 2.5% | Varies; minimal charges | - Instant personal loans - 100% online process - No collateral required - Quick approval and disbursal |
| Nira | Android, iOS | ₹5,000 - ₹1,00,000 | Starting from 1.67% | 2% of loan amount | - Instant credit line - Flexible repayment options - No collateral required - Quick disbursal |
| TrueBalance | Android | ₹1,000 - ₹50,000 | Starting from 2.4% | Varies; minimal charges | - Instant personal loans - Mobile balance management - Bill payments and recharges - Rewards and cashback |
| MoneyView | Android, iOS | ₹10,000 - ₹5,00,000 | Starting from 1.33% | 2% of loan amount | - Instant personal loans - Credit score monitoring - Expense tracking - Flexible repayment options |
| FlexSalary | Android, iOS | ₹4,000 - ₹2,00,000 | Starting from 2.5% | Varies; minimal charges | - Instant salary advances - Flexible repayment - No fixed EMIs - Quick approval and disbursal |
| EarlySalary | Android, iOS | ₹8,000 - ₹5,00,000 | Starting from 2% | Up to 2% of loan amount | - Instant personal loans - Salary advances - No collateral required - Flexible repayment options |
| Branch | Android, iOS | ₹500 - ₹50,000 | Starting from 2% | Varies; minimal charges | - Instant personal loans - No collateral required - Credit building - Quick disbursal |
| StashFin | Android, iOS | ₹1,000 - ₹5,00,000 | Starting from 1.5% | Varies; minimal charges | - Instant credit line - Flexible EMIs |
Choose wisely, borrow responsibly, and get the funds you need, without the confusion.
Looking for best personal loan apps for students? Check out our guide on Top Instant Loan Apps for Students in India. Now let’s look for the 5 best personal loan apps for students.
Best 5 Instant Personal Loan Apps in India
1. Pocketly
Pocketly is designed for students and young professionals looking for quick access to cash without unnecessary hurdles. This platform ensures borrowing is seamless, fast, and tailored to your needs.
Key Features:
- Fast Approval Process: No long waiting periods! Get loan approval and money in your account within minutes, making Pocketly ideal for emergencies or urgent expenses.
- Minimal Documentation: All you need are basic KYC documents like your Aadhaar and PAN card. The entire process is online, quick, and paperless—saving you time and effort.
- No Collateral Required: Pocketly offers completely unsecured loans. That means you don’t have to risk any personal assets or pledge security to borrow money.
- Flexible Repayment Options: You’re in control, choose from a range of repayment tenures that match your budget and salary cycle. Whether you need a few weeks or a few months, Pocketly offers options that work for you.
- No Hidden Charges: Everything is transparent from the start. You’ll see all fees and interest clearly laid out before confirming the loan. No surprises, no last-minute additions.
How It Works:
- Download the Pocketly App: Get it from the Play Store or App Store and sign up using your mobile number.
- Upload Basic KYC Documents: Submit your PAN card, Aadhaar card, and a recent bank statement, digitally and securely.
- Choose Your Loan Amount: Select the amount you need based on your eligibility and pick a repayment plan that suits you.
- Instant Approval and Disbursal: Once approved, the funds are transferred directly to your bank account, usually within minutes.
Loan Details:
- Loan Amount: Borrow anywhere between ₹1,000 and ₹25,000, depending on your eligibility. Perfect for everyday needs or short-term financial gaps.
- Interest Rate: Starting at just 2% per month, making it a budget-friendly alternative to credit cards or payday loans.
- Processing Fee: Ranges from 1% to 8% of the loan amount—clearly shown before you accept the offer.
- Age Eligibility: Anyone aged 18 and above can apply—ideal for students, young professionals, or first-time borrowers.
Benefits:
- Student-Friendly: Need help with tuition, books, or living costs? Pocketly is built to support young borrowers, even those with no credit history.
- Everyday Use: Great for online shopping, bill payments, subscriptions, or managing month-end cash crunches.
- Emergency Support: When urgent medical expenses or repairs pop up, Pocketly delivers fast cash without the headache.
- Financial Flexibility: Repay on your terms with EMI plans that match your cash flow. No stress, no overdue panic.
- Instant Access, Anytime: Apply anytime, anywhere, no need to visit a branch or fill out pages of paperwork.
2. mPokket
mPokket is a loan app aimed at students and young professionals who need quick funds for small expenses. With a streamlined application process, mPokket offers instant disbursal and flexible repayment options.
Key Features:
- Student-focused
- Instant approval
- Flexible repayment options
Loan Details:
- Loan Amount: ₹500 - ₹30,000
- Interest Rate: Starts at 0% for students, up to 48% annually
- Processing Fee: 1-5%
Pros:
- Tailored for students and freshers with limited credit history.
- Offers small, manageable loan amounts perfect for immediate needs.
Cons:
- Limited loan duration, which may lead to higher immediate financial stress.
- Lacks flexibility in terms of repayment options compared to other apps.
3. KreditBee
KreditBee provides fast, convenient loans for both salaried and self-employed individuals, including students, with minimal paperwork.
Key Features:
- Quick approval
- No collateral required
- Flexible repayment
Loan Details:
- Loan Amount: ₹1,000 - ₹2 Lakh
- Interest Rate: Starts at 15% annually
- Processing Fee: 2-6%
Pros:
- Suits both salaried and self-employed individuals.
- Multiple loan types for varying financial needs.
Cons:
- Higher late fees, making it costly if payments are missed.
- Limited features for those seeking low-interest short-term loans
4. LazyPay
LazyPay provides quick, hassle-free loans for students with minimal paperwork and instant approvals, making it a great option for small, urgent expenses.
Key Features:
- Instant approval
- Minimal documentation
- No collateral required
Loan Details:
- Loan Amount: ₹1,000 - ₹1 Lakh
- Interest Rate: Starts at 18% annually
- Processing Fee: 2-5%
Pros:
- Strong focus on fast credit for daily expenses and smaller transactions.
- No need for extensive paperwork.
Cons:
- Usage primarily restricted to partner merchants, limiting general-purpose loans.
- Charges heavy penalties for late payments and defaults.
5. CASHe
CASHe is perfect for salaried professionals needing quick access to personal loans, offering a user-friendly app and fast disbursal.
Key Features:
- Flexible repayment options
- Fast approval
- No collateral required
Loan Details:
- Loan Amount: ₹1,000 - ₹5 Lakh
- Interest Rate: Starts at 12% per annum
- Processing Fee: 2-3%
Pros:
- Specialises in personal loans for salaried individuals with flexible repayment terms.
- Uses advanced AI to determine eligibility, potentially boosting accessibility.
Cons:
- Short loan tenures, which may force higher EMIs.
- Eligibility is primarily based on income, making it unsuitable for students or freelancers.
Don’t have a job but still need a loan to cover your college expenses or an emergency? You’re not alone. Read this guide on Personal Loans for Students Without Income in India to discover how students without a regular income can still access personal loans in India, safely and easily.
Best Strategies to Speed Up Your Loan Processing
Applying for a personal loan doesn’t have to be stressful or time-consuming. With the right steps, you can boost your chances of fast approval and smooth disbursal, especially through digital loan apps. Here's how:
- Keep Your Documents Ready
- Have your KYC details (Aadhaar, PAN), college ID, and bank account info handy before applying. This speeds up verification.
- Choose the Right Platform
- Use apps that are known for quick disbursal and minimal documentation, like Pocketly.
- Maintain a Healthy Bank Statement
- Even if you don’t have a job, a stable account with regular inflow (like a monthly allowance or scholarship) helps your eligibility.
- Double-Check Details Before Submitting
- Small errors in name, bank details, or document uploads can delay approval. Always review your application.
- Apply During Working Hours
- Most loan apps process and disburse faster during business hours (10 AM–6 PM), especially on weekdays.
- Don’t Apply on Multiple Apps at Once
- Too many applications at once can hurt your approval chances and delay verification.
Use these tips to make your loan process faster, smoother, and stress-free—so you get the funds you need, right when you need them.
Do you ever find yourself stuck with an unexpected expense, like a sudden medical bill or a broken laptop right before exams? As a student, it’s not always easy to manage these costs on your own.
That’s where Pocketly steps in. With quick approvals and minimal hassle, it’s the go-to app for students who need instant funds, fast, simple, and stress-free. Let’s see why Pocketly stands out.
What Makes Pocketly Stand Out for Student Loans?
When it comes to instant loans, Pocketly is a game changer, especially for those 18 and older who are just starting to navigate their financial journey. Here’s why Pocketly shines:
- Super Simple Application Process: Applying for a loan should be stress-free, and with Pocketly, it really is! Just download the app, and you can complete everything from your phone without the hassle of paperwork.
- No Hidden Charges: Transparency is key, and Pocketly has your back. You won’t encounter unexpected fees or surprise costs; what you see is what you get.
- Instant Approval: Need cash fast? Pocketly’s quick approval process means you can access funds within minutes, perfect for those urgent situations.
- Flexible Repayment Plans: Whether you need a short repayment period or a bit more time, Pocketly offers options that suit your financial situation, making it easier to manage your budget.
- Tailored for Students and Young Adults: Pocketly understands the unique needs of young borrowers, offering loans that fit your lifestyle and financial goals.
Steps to Apply for an Instant Loan for Students with Pocketly
If you’re a student in need of a quick financial boost, applying for an instant personal loan is easy with Pocketly! Here’s how to get started:
Step 1: Download and Register
Begin by downloading the Pocketly app from the Play Store or App Store. After installation, register with your mobile number to create your account.
Step 2: Submit Required Documents
Upload key documents like your Aadhaar card, PAN card, and proof of enrollment. Make sure everything is clear to avoid delays in approval.
Step 3: Complete KYC Verification
To verify your identity, submit your PAN card and finish the KYC process. This step ensures your application is valid and ready for review.
Step 4: Enter Your Bank Account Details
Provide your bank account information for a seamless loan disbursement. This allows funds to be transferred directly to your account.
Step 5: Choose Your Loan Amount and Tenure
Select your desired loan amount (up to ₹20,000) and repayment period that fits your budget. Pocketly offers flexible options tailored to students.
Step 6: Receive Your Funds
Once approved, the loan amount will be directly deposited into your bank account. It’s quick and hassle-free, ensuring you have access to cash when you need it.
You can take charge of your finances and borrow with ease, knowing Pocketly is here to support your journey into adulthood. Say goodbye to financial stress and hello to a world of possibilities!
FAQs
Can I get a personal loan without a salary slip?
Yes, some lenders allow alternative income proofs like bank statements, ITR filings, or employer certificates if you don’t have a salary slip. However, having proper income documentation improves your chances of approval.
What loan amounts can I apply for?
You can borrow ₹1000 to ₹25,000, depending on your eligibility and needs. It’s perfect for covering small and urgent expenses.
What documents are needed?
Only basic KYC documents—PAN card, Aadhaar card, and bank statement—all uploaded online. You don’t need to deal with any physical paperwork.
Do I need a credit score?
No credit score is required. Pocketly welcomes first-time borrowers, too. It’s designed for everyone, including those new to credit.
What are the repayment options?
Flexible EMIs allow you to choose a repayment plan that fits your budget. You’ll have complete control over how you repay.