If you’re a college student or early-career professional looking for ₹20K-₹2L, the choices in 2026 are confusing. There’s the BNPL camp (Slice, Uni, Simpl, ZestMoney). There’s the personal loan apps (CASHe, Money View, KreditBee, Navi). There’s specialized student lenders (us — Securis). And there’s traditional banks who’ll sometimes do small loans.
Each is built for a different use case. Picking wrong costs you 5-15% in unnecessary interest or — worse — pushes you into a product that doesn’t suit your situation. Here’s the honest comparison.
Disclosure: I’m a co-founder of Securis, so this post is biased — but I’ve tried to be honest about where each option wins. We compete on transparency, not on hiding tradeoffs.
The categories at a glance
| Category | Loan size | Tenure | Effective APR | Best for |
|---|---|---|---|---|
| BNPL (Slice, Uni, Simpl) | ₹2K - ₹50K | 1-12 months | 0% to 36%+ | Small purchases, building credit history |
| Personal loan apps (CASHe, KreditBee) | ₹10K - ₹5L | 3-36 months | 18-36%+ | Quick cash, decent credit |
| Specialized small loans (Securis) | ₹10K - ₹2L | 6-36 months | 12-20% | Student needs, parent co-borrower flow |
| Bank personal loan | ₹50K - ₹40L | 12-60 months | 11-18% | Salaried professional with 1+ year tenure |
| Education loan | ₹50K - ₹50L | 5-15 years | 10-15% | Tuition, often with collateral |
Slice (now NESFB Slice) — re-positioned
Slice’s product looks different in 2026 than it did in 2023.
What Slice is now: A small loan / BNPL hybrid offering ₹2K-₹10L through their merger with NESFB. Limits are higher than BNPL-era Slice, but onboarding is stricter.
Strengths:
- Smooth in-app experience for those approved
- Some no-cost EMI partners on specific merchants
- Good for repeat users who’ve built history
Weaknesses:
- Stricter onboarding than the 2022 era — first-time college students often hit limits in the ₹5-10K range, not enough for a laptop
- Effective APRs above the limit can run 20-30%
- Not specifically built for student needs
Best for: Working professional with credit history wanting an additional credit line.
Uni Cards (now revoked / repositioned in 2024)
Uni had a moment in 2021-22. The “1/3 card” model was clever. Then RBI’s PPI guidelines in mid-2022 forced major changes; the original product effectively shut down. Newer iterations exist but are smaller-scale.
Verdict for 2026: Not a primary recommendation. If you have a legacy Uni card with grandfathered terms, fine. New onboarding isn’t recommended.
Simpl
Same trajectory as Uni — RBI guidelines forced the original “buy now, pay in 15 days” merchant-credit model into restructuring. Still works for Zomato, Bigbasket, etc. with some merchants. Not a serious option for ₹50K+ student loans.
Best for: Splitting Zomato or grocery purchases. Not for laptops or course fees.
ZestMoney (acquired by ZestMoney → effectively wound down 2023-24)
The major BNPL of 2020-21. Acquired and wound down through 2023-24. Some merchant partnerships continue under different operators.
Verdict: Not a current option for new applications.
CASHe
A real personal loan provider, salary-focused.
Strengths:
- Quick approval (often same-day)
- Loan amounts ₹10K-₹4L
- 3-18 month tenures
Weaknesses:
- Aggressive APRs (24-36% annualized in many segments)
- Designed for ₹15K+ monthly bank-routed salaried profiles
- Doesn’t have a clean parent co-borrower flow for college students
Best for: Salaried early-career professional needing fast cash. Read the APR carefully — sometimes the EMI looks small but the total interest is high.
KreditBee
Similar to CASHe positioning.
Strengths:
- Loan range ₹1K-₹5L
- App-based, fast disbursement
- Works for salaried + self-employed with documentation
Weaknesses:
- APRs 18-36% depending on profile
- Rejection rate higher for first-time applicants without strong CIBIL
- Not built for “no credit history” college students
Best for: Working professional with some credit history. Compare APR against Securis or a bank before signing.
Navi
Navi has scaled up its personal loan product significantly.
Strengths:
- Larger loan amounts (up to ₹20L)
- 11.99%+ starting APR for top profiles
- Good app experience
- Works for salaried professionals
Weaknesses:
- “Top profile” APR rarely applies to first-time applicants — most see 16-22%
- Not built for student profiles
- Doesn’t have a parent co-borrower flow
Best for: Salaried professional with 2+ years experience and good credit history.
Securis (us)
Built specifically for college students and early-career professionals.
Strengths:
- Parent / guardian co-borrower flow as a first-class feature
- Designed for ₹10K-₹2L range (the “between BNPL and bank loan” middle)
- Doesn’t require strong credit history from the student
- Direct communication via WhatsApp, no app friction
- We say no clearly when we can’t help, no time-wasting
Weaknesses:
- Smaller team, slower than apps for very-routine cases (but faster than banks)
- Loan size capped — we don’t do ₹5L+
- Don’t do tuition (we’ll redirect to bank education loan)
Best for: College student needing a laptop, course fee, or college life loan with parent as primary applicant. Working student in early career needing structured small loans.
See if Securis fits your situation? Apply online — 5-minute form, decision in 1-2 working days. We’re upfront about whether we can help or not.
Bank personal loan (HDFC, ICICI, Axis, SBI)
The “everyone forgets these are an option” route.
Strengths:
- Lowest APRs available (10.5-15% for good profiles)
- Pre-approved offers if you have a savings account with the bank
- Trusted brands
Weaknesses:
- Strict income requirements (₹25K+ monthly bank salary, typically)
- Tenure requirements (1+ year continuous employment)
- Not available to college students without their own income
- Slower disbursement (3-7 days)
Best for: Salaried professional with bank relationship, 1+ year continuous employment.
Decision tree
Are you a college student with no income? → Securis with parent co-borrower, OR family loan, OR family credit card EMI.
Are you a college student with part-time income (₹15K+/month)? → Securis on your own profile if amounts under ₹50K. Securis with co-borrower for ₹50K-₹2L.
Are you a salaried professional (1-3 years experience), need ₹50K-₹2L? → Compare Securis APR against KreditBee / CASHe / Navi. Whichever is lowest with reasonable processing time. Bank personal loan if eligible — usually cheapest.
Are you a salaried professional, need ₹2L-₹15L for executive education? → Bank education loan (HDFC Credila, Avanse) is right. Securis can fund the gap (residencies, materials).
Are you buying something specific from a major retailer (laptop from Croma, etc.)? → Compare in-store EMI (Bajaj Finserv, Pine Labs) against a personal loan. Often in-store wins for one-shot transactions.
Are you doing small-amount purchases under ₹10K (food, groceries, last-mile)? → Slice or Simpl, not a real loan product.
The “BNPL is a credit-builder” myth
A common claim: “Use BNPL to build credit history.” Partially true, partially overstated.
True: BNPL apps that report to credit bureaus (Slice, KreditBee) do build a CIBIL trail.
Overstated: The credit they build is “small unsecured short-tenure” — useful for future BNPL approvals, less useful for proving you can handle a ₹2L 24-month loan. A bank looking at your file values 12 months of clean credit card EMI repayment more than 12 months of ₹2K Slice repayments.
If credit-building is the goal, the cleanest path is: get an entry-level credit card (HDFC Pixel, ICICI Amazon Pay, IDFC First) → use 30% of limit monthly → pay full statement balance → 12 months of this builds genuinely useful CIBIL.
What to compare when choosing
If you’re between two options, compare these specifics — not just the headline APR:
- Effective APR including processing fee. A 14% APR loan with a 3% processing fee is closer to 18% effective on a 12-month tenure.
- Late payment penalties. Some apps charge ₹500-₹1,000 per missed payment + bumped interest. Banks are typically gentler.
- Pre-payment penalties. Most apps allow free prepayment after 6 months. Banks sometimes charge 2-3% on full prepayment.
- Documentation asks. Apps mostly want digital docs; banks may ask for in-person verification.
- Customer service responsiveness. When something goes wrong (and it will, eventually — failed EMI, address change, foreclosure question), how easy is it to reach a human?
The honest takeaway: for the “₹50K-₹2L gap” that most students and early-career professionals face, the right answer is usually one of: Securis, a bank personal loan, or a parent’s credit card EMI — in that order based on your situation. BNPL is for genuinely small purchases. Personal loan apps work for the salaried middle but compare APRs carefully. If you want a second opinion on your specific case, WhatsApp us — we’ll give you a real recommendation, even if it’s “go with someone else.”