Access to education shouldn’t be held back by access to finance. Yet in FY2025, education loan disbursement growth slowed to just 8%, a sharp decline from the 50% jump seen the year before. Several factors contributed to this dip, including stricter lending norms from traditional banks, rising visa uncertainties, and growing caution among students due to the rise of fraudulent loan apps.
At the same time, a lack of awareness about credible digital lending platforms continues to widen the gap. However, a few established players in the digital lending space are helping bridge this gap, offering faster approvals, minimal paperwork, and student-friendly terms.
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If you’re a student looking for fast and reliable education loans, you must know the trusted digital lending platforms like
1. RupeeRedee: Tech driven digital lending platform that was founded in 2018 to provide quick and hassle free personal loans to underserved segments of the Indian population. By leveraging
advanced technologies and robust data protection, RupeeRedee Simplifies the borrowing process for individuals who may not have access to traditional banking services. The platform focuses on offering medium-sized loans (up to 1,49,000) with minimal documentation, making it
accessible to individuals from lower-income groups, especially those in need of immediate financial assistance. RupeeRedee operates through its captive Non-Banking Financial Company (NBFC), FincFriends Private Limited, ensuring faster loan disbursals and a seamless KYC Process.
2. KreditBee
KreditBee is a popular digital lending platform catering especially to young professionals and students. It offers quick personal loans starting from ₹1,000 up to ₹2 lakh, with flexible repayment options ranging from 2 to 15 months. The entire process from KYC verification to loan disbursal, is digital and requires minimal documentation. Its student-focused credit line and salary advances have made it a go-to option for small-ticket education-related expenses, whether it’s exam fees, online course subscriptions, or prep material.
3. Bajaj Finserv
It is one of India’s most established NBFCs and offers structured education loan products through both traditional and digital channels. For students, it provides personal loans of up to ₹25 lakh with flexible tenure, zero collateral, and pre-approved offers for existing customers. Its digital journey is robust, with online loan approval and disbursal, EMI calculators, and an app interface tailored for ease of use. Bajaj Finserv is especially useful for large education-related expenses like full-time degrees or studying abroad.
4. mPokket
The lending platform tailored specifically for college students and young earners. Students can borrow small-ticket loans ranging from ₹500 to ₹30,000, directly credited to their bank or digital wallet. The app requires basic KYC and college ID for verification and offers a flexible repayment window of up to 3 months. mPokket is ideal for handling short-term academic expenses like coaching fees, textbooks, online course payments, or living costs during internships or exam seasons.
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