Are you looking for the Top 10 best loan apps for students in 2024 bcoz you are a student and you want to get a loan for your urgent need or expenses? So we will are here to help you. We will tell you Top 10 best loan apps for students in 2024 which are apps with low interest rates, few fees, flexible repayment terms, good customer service, and positive reviews.
Here Are Top 10 best loan apps for students :
There are several popular lending programs in India. However, if you are a student, you cannot get a loan from them. To have enough money, students do not yet work full-time, and in India, children are primarily dependent on their parents until they start working.
Students may run out of money trying to cover additional expenses and may also require money to buy books, enter competitions, etc. We have mentioned the top 10 best loan apps for students in 2024 below which will help you for loan approval easily:
1. College Ave students loan app: Offers private student loans with low interest rates (3.99%-12.99% APR) and flexible repayment terms (5-20 years). No origination fee or prepayment penalty.
Key features:
- Low interest rates (3.99%-12.99% APR)
- Flexible repayment terms (5-20 years)
- No origination fee or prepayment penalty
- No co-signer required
- Flexible repayment options
- Autopay discount
2. KreditBee student loan app: Another useful app for instant student loans is KreditBee. Up to Rs. 300,000 in loans may be obtained, with interest rates as high as 29.5% per year. You can apply for one of these loans between 21 and 56.
Key features:
- Personal loans up to ₹2 lakhs
- Interest rates starting from 15% per annum
- Repayment tenure up to 24 months
- No collateral or guarantor required
- Quick approval and disbursal
- Easy EMI options
3. Nerd Wallet student loan app: A personal finance platform that offers student loan comparisons and applications with various lenders, including federal and private loans.
Key features:
- Comprehensive loan comparisons
- Expert financial advice
- Free to use
- Unbiased lender reviews
- Personalized recommendations
4. SoFi: Offers private student loans with low interest rates (4.23%-11.23% APR) and flexible repayment terms (5-20 years). Also provides career coaching and job placement assistance.
Key features:
- Low interest rates (4.23%-11.23% APR)
- Flexible repayment terms (5-20 years)
- No origination fee or prepayment penalty
- Career coaching and job placement
- Unemployment protection
- Community events
5. Earnest students loan app: Offers private student loans with personalized interest rates (3.5%-12.5% APR) based on creditworthiness and flexible repayment terms (5-20 years).
Key features :
Personalized interest rates (3.5%-12.5% APR)
- Flexible repayment terms (5-20 years)
- No fees
- Flexible repayment options
- Autopay discount
- Personalized service
6. CommonBond students loan app: Offers private student loans with low interest rates (4.5%-9.5% APR) and flexible repayment terms (5-20 years). Also offers a community network for borrowers.
Key features:
- Low interest rates (4.5%-9.5% APR)
- Flexible repayment terms (5-20 years)
- No origination fee or prepayment penalty
- Community network for borrowers
- Social impact initiatives
- Competitive interest rates
7. LendingTree students loan app: A loan comparison platform that offers student loans from multiple lenders with competitive interest rates (3.5%-12.5% APR) and flexible repayment terms (5-20 years).
Key features:
- Multiple lender options
- Competitive interest rates (3.5%-12.5% APR)
- Free to use
- Comprehensive loan comparisons
- Unbiased lender reviews
8. Discover students loan app: Offers private student loans with fixed or variable interest rates (4.84%-12.99% APR) and flexible repayment terms (5-20 years).
Key features:
- Fixed or variable interest rates (4.84%-12.99% APR)
- Flexible repayment terms (5-20 years)
- No fees
- Flexible repayment options
- Autopay discount
- Established bank with reputation
9. Wells Fargo students loan app: Offers private student loans with competitive interest rates (4.33%-10.93% APR) and flexible repayment terms (5-20 years).
Key features:
- Competitive interest rates (4.33%-10.93% APR)
- Flexible repayment terms (5-20 years)
- No fees
- Flexible repayment options
- Autopay discount
- Established bank with reputation
10. Stilt students loan app: Offers private student loans for international students and those with limited credit history, with interest rates (7.99%-12.99% APR) and flexible repayment terms (6-24 months).
Key features:
- Loans for international students
- No co-signer required
- Flexible repayment terms (6-24 months)
- Competitive interest rates (7.99%-12.99% APR)
- No fees
- Personalized service
Remember to always research and compare loan options, considering factors like interest rates, repayment terms, fees, and credit requirements, before borrowing
What Things To Look For While Applying For Loans For Students?
Here are the things look when applying loan for students:
1. Interest Rate: Like a small extra charge for using someone else's money.
● Example: You borrow $100, and the interest rate is 10%. You'll pay $110 back.
2. Fees: Like extra costs for things like processing the loan.
● Example: You borrow $100, and the fee is $10. You'll get $90.
3. Repayment Terms: How long you have to pay back the money.
● Example: You borrow $100, and the repayment term is 1 year. You'll pay it back in 1 year.
4. Amount: Only borrow what you need.
● Example: You need $100 for a book, so borrow $100, not $500.
5. Credit Check: Like a report card for grown-ups and money.
● Example: If you always pay bills on time, your credit score is good!
6. Cosigner: Like a friend who helps you out.
● Example: If you don't have good credit, a friend with good credit can help you get a loan.
7. Approval Time: How fast the lender says "yes" or "no".
● Example: You apply, and the lender approves you in 1 day!
8. Repayment Options: Ways to make payments easier.
● Example: You can pay a little each month, or all at once.
9. Customer Service: Like a helper for questions or problems.
● Example: You call, and they answer your questions!
10. Reviews: What others say about the lender.
● Example: "They were helpful and kind!" or "They were mean and slow!”
Conclusion
We tld you about Top 10 best loan apps for students in 2024 and we hope you got full knowledge about this topic. So Look for apps with low interest rates, Remember to always read the terms and conditions before borrowing, and only borrow what you need.
By choosing the right loan app, you can focus on your studies without financial stress. Good luck with your education!
Read More:
Jio Finance App: Best UPI & Wallet App | Jio Finance App Review 2024