So, you have cracked the entrance, got the admission letter in hand, and dreams in your eyes. But then reality strikes, college is expensive! Whether you are studying in India or abroad, tuition fees, hostel rent, books, travel, all add up quickly. That’s where student loans come in, and lucky for us, in 2025, student loan apps have made the process much easier.
Gone are the days of standing in long queues at banks with a bunch of documents. Now, all you need is your phone and the right student loan app. In this blog, let’s talk about the best student loan apps of 2025, understand how they work, check out their interest rates, and yes, introduce you to BigMudra, an emerging name that’s making borrowing super simple for students.
Why Do Students Need Loan Apps in 2025?
Education costs are rising every year, not just in private universities but even in government colleges. According to a 2023 report by IndiaSpend, private engineering colleges now charge anywhere between ₹1.5 lakhs to ₹5 lakhs per year. International education? That can go as high as ₹30–₹60 lakhs!
But the problem is not just the fee, many students struggle to apply for a student loan due to complicated paperwork, high interest rates, or lack of collateral. This is why student loan apps are becoming so popular.
These apps help you:
- Check eligibility in minutes
- Get pre-approved loan offers
- Upload documents digitally
- Track your loan status in real-time
- Access private student loans with minimal documentation
Sounds like a blessing, right? Now let’s dive into the top loan apps for students in 2025.
Top 6 Best loan apps for students in 2025.
1. BigMudra: Smart Lending for Smart Students
BigMudra is one of the best student loan aggregator in India right now, especially for those who want quick approval, simple process, and low student loan interest rates.
Why BigMudra?
- Completely digital loan application
- No hidden fees
- Loans starting from ₹10,000 up to ₹5 lakhs
- Interest rates as low as 9.99% per annum
- Zero processing fee options for selected students
- Tie-ups with coaching centres and educational platforms
BigMudra understands that students are new to the financial world. So, the BigMudra tech gives clear repayment schedules and reminders to help you stay on track. If you are a student looking to borrow for your coaching, certification, or even college semester fees, BigMudra is a one stop solution, you should definitely check out.
2. KreditBee – Fast Loans for Young Aspirants
KreditBee is quite popular among young Indians. Though it’s not exclusively a loan for students app, many students use it because of its low entry barriers.
Features:
- Loan amount starts from ₹1,000 to ₹3 lakhs
- Minimal paperwork
- Approval within 15 minutes
- Flexible repayment from 3 to 15 months
But note: KreditBee usually offers personal loans, not dedicated student loans. That means the student loan interest rate might be higher, between 15% to 24%. Still, it’s a decent backup if you’re in urgent need of money.
3. mPokket – Tailored Loans for College Students
This app was built for students, which makes it one of the best student loan apps in India.
Key Benefits:
- Loans start from ₹500 up to ₹30,000
- Only requires your college ID and bank account
- Instant money transfer to your account or Paytm
- Interest rates start from 18%
The best part? You can repay through easy EMIs or even through your part-time income. Perfect for college goers who need some extra funds for projects, gadgets, or weekend classes.
4. Eduvanz – Focused on Education Loans
Eduvanz is another serious player in the private student loans market. It focuses completely on financing education, from skill-building courses to degrees abroad.
Why Choose Eduvanz?
- Loans up to ₹20 lakhs
- Zero-cost EMI options for selected courses
- Partnered with over 2000 educational institutes
- No collateral needed
- Competitive interest rates starting at 10.5%
Eduvanz is ideal if you are planning to study at a private college or want to fund an international course.
5. InCred – Study Loans for Higher Education
InCred is well-known for its best student loans that help students study abroad, especially in the US, UK, or Australia.
What’s in the App?
- Loan amount: ₹1 lakh to ₹40 lakhs
- No collateral required up to ₹10 lakhs
- Quick digital process
- Tie-ups with top universities
- Interest rates vary but are competitive for foreign education
If you are looking for a student loan app for overseas education, InCred is worth exploring.
6. Slice – Best for Small Emergency Loans
Slice is popular among students and young professionals for its simple card-based borrowing system.
Key Features:
- Borrow up to ₹10,000 instantly
- 0% interest if repaid within the same month
- No joining or annual fee
- Convert spends into 3-month EMIs
While not a traditional student loan, Slice is great if you need money fast for books, travel, or an online course.
How to Choose the Best Student Loan App?
Here are a few things to consider before choosing a loan app for students:
| Criteria | Why It Matters |
| Interest Rates | Lower rates mean cheaper EMIs |
| Repayment Flexibility | Look for monthly EMIs or bullet repayments |
| Processing Time | Fast approvals are important in emergencies |
| Collateral Requirements | Most student apps are unsecured – no security needed |
| Loan Amount | Choose based on your actual need |
| Eligibility | Some apps need you to be 18+, have a PAN card, etc. |
Student Loan Interest Rates in 2024: What to Expect?
As of May 2024, here’s what the average student loan interest rates look like:
| Loan Provider | Interest Rate (per annum) | Loan Amount |
| BigMudra | Starting at 9.99% | ₹10,000 – ₹5 lakhs |
| Eduvanz | 10.5% – 15% | ₹10,000 – ₹20 lakhs |
| InCred | 10% – 16% | ₹1 lakh – ₹40 lakhs |
| KreditBee | 15% – 24% | ₹1,000 – ₹3 lakhs |
| mPokket | 18% – 30% | ₹500 – ₹30,000 |
| Slice | 0% (if paid on time) | Up to ₹10,000 |
Read More: Education Loan EMI Calculator | Student Loan EMI & Eligibility
Documents You Usually Need to Apply for Student Loan
Even the best student loan app will need some basic documents. Keep these ready:
- Aadhaar Card
- PAN Card
- College ID or Admission Proof
- Bank account details
- Passport-size photo
- Optional: Parent/guardian income proof (for higher loans)
Conclusion
Education is an investment, and a good student loan app helps you invest smartly. Whether you are pursuing MBBS, engineering, MBA, or a foreign degree, the right loan for students app can ease your financial burden and let you focus on your studies.
BigMudra, in particular, is leading the way by offering a student-friendly platform with low-interest rates, zero hidden charges, and superfast approval. So if you’re looking to apply for student loan in 2024, give BigMudra a try. It’s safe, simple, and transparent.
Remember, always read the terms and conditions before signing up. And borrow only what you need, after all, loans must be repaid.
FAQs
1. Which is the best student loan app in India?
BigMudra, Eduvanz, and InCred are among the best in 2024, depending on your needs.
2. Can I get a student loan without a job?
Yes, many apps give student loans based on admission proof or parent/guardian details.
3. Are student loan interest rates fixed?
They vary depending on the provider, loan amount, and tenure. Most range between 9.99% and 16%.
4. What if I miss an EMI?
Missing EMIs can affect your credit score. Choose an app with reminders or auto-debit features.
5. Can I prepay my loan?
Yes, most apps allow early repayment with zero or minimal prepayment charges.
