PaySense Personal Loan
Get instant personal loans of Rs. 5,000 to Rs. 5 Lakhs through PaySense to fit all your needs and dreams. The PaySense loan is offered at an affordable interest rate starting from just 16.00% p.a. for up to 36 months of tenure to even those users who are new to the credit and lending system. You can also apply for another PaySense loan with one-time documentation without further checks.
Apply for PaySense Personal Loan @ 16.00% Interest Rates

PaySense Loan Details
Below are the key details of the PaySense personal loan:
Loan amount | Rs. 5,000 to Rs. 5 Lakhs |
Interest rate | 16.00% to 36% p.a. |
Processing fee | Up to 2.5% of the loan amount + GST |
Tenure | 3 to 36 months |
Foreclosure charges | Up to 4% on the remaining principal amount + GST |
Late payment charges | Rs. 590 |
Minimum monthly income | Rs. 18,000 for salaried & Rs. 20,000 for self-employed |
Age | 21 to 60 years |
Note: Paysense is powered by https://www.gopaysense.com/ and the information mentioned here is provided by Paysense Services India Private Limited.
PaySense Loan Features
- Personal loans from the PaySense app can be used for marriage, medical emergency, travel, home improvement, purchase of a new/second-hand vehicle and consumer durables, etc.
- The minimum loan amount offered is Rs. 5,000 and the maximum is Rs. 5 Lakhs.
- The PaySense interest rate for personal loans starts from 16.00% p.a and can go up to 36% p.a.
- Repayment tenure can vary from 3 months to 36 months.
- Right now, the facility is available in over 180+ cities in India.
- The processing fee is up to 2.5% of the sanctioned loan amount plus applicable GST.
- The assessment of the application is instant.
- Legitimate lending partners include PayU Finance India Private Limited, IDFC First Bank, SMFG India Credit Company Ltd. (Formerly Fullerton India Credit Company Ltd.), and Kisetsu Saison Finance (India) Private Limited.
- Loans for first-timers with a zero credit score.
- Simple subsequent loans with instant disbursement through the PaySense loan app.
- PaySense allows pre-closure of the loan after successful payment of the first 3 EMIs.
PaySense Personal Loan Interest Rate
PaySense personal loan interest rates range from 1.4% to 2.3% per month (14% per annum to 36% per annum), making it easier for customers to make convenient repayments through affordable equated monthly instalments (EMIs). The Annual Percentage Rate (APR) of PaySene personal loans ranges between 14.5 % to 40%.
PaySense Loan Charges
The charges applicable to the PaySense personal loan are mentioned below:
Processing fees | 2.5% of the loan amount + GST |
Late payment charges | Rs. 500 + GST |
Foreclosure charges | Up to 4% on the remaining principal amount + GST |
Paysense Loan Eligibility Criteria
To seek a loan from PaySense, the applicant is required to fulfil the following PaySense loan eligibility criteria:
- The applicant should be a resident of India.
- The minimum age required for a PaySense loan application is 21 years, and the maximum age is 60 years.
- The individual should be self-employed or salaried.
- The minimum income should be Rs. 18,000 per month in case of salaried individuals.
- The minimum income should be Rs. 20,000 per month in case of self-employed individuals.
- The applicant must have a net banking account which is currently active.
- The applicant should be based in any of the 180+ cities in India where PaySense serves personal loans.
Documents Required for PaySense Loan
The documents required for the PaySense personal loan are:
- Proof of identity: PAN Card and selfie
- Proof of address: Aadhaar Card/ Voter ID/ Passport/ Driving License
- Proof of income: Netbanking or bank e-statements of the last 3 months
Comparison of PaySense Loan App with Other Loan Apps
Below is a comparison of the PaySense personal loan app with the other five best instant loan apps available in India:
Lender | Loan Amount | Interest Rate | Processing Fee | Maximum Tenure |
---|---|---|---|---|
PaySense | Rs. 5,000 to Rs. 5 Lakhs | 16.00% p.a. to 36% p.a. | Up to 2.5% of the loan amount + GST | 3 to 36 months |
KreditBee | Rs. 6,000 to Rs. 10 Lakhs | 12% p.a. to 28% p.a. | Up to 5.1% of the loan amount + GST | 6 to 60 months |
Fibe | Up to Rs. 5 Lakhs | 18% p.a. onwards | Starting from 2% of the loan amount + GST | 3 to 36 months |
Freo | Rs. 3,000 to Rs. 5 Lakhs | 12% p.a. to 36% p.a. | 2% of the loan amount + GST | 3 to 36 months |
Incred | Rs. 10,000 to Rs. 10 Lakhs | 13.99% p.a. onwards | Up to 5% of the loan amount + applicable taxes | Up to 60 months |
Prefr | Rs. 25,000 to Rs. 3 Lakhs | 18% p.a. to 36% p.a. | 3% to 5% of the loan amount + GST | 6 to 36 months |
How to Apply For PaySense Loan
- Install the PaySense loan app and complete the PaySense login process.
- Register and check your personal loan eligibility.
- Provide KYC documents like identity proof (Aadhar/ PAN/ Voter ID), address proof (Aadhar/ Utility Bills/ Rental Agreement), income proof (bank statements), and a photograph.
- Sign the loan application.
- Get speedy approvals on the PaySense loan app.
- Once your loan request is approved by PaySense’s lending partners, your personal loan amount will be credited directly to your bank account.
PaySense Loans Customer Care Details
PaySense does not provide any customer care number. You can send in all your queries via email to support@gopaysense.com.
Any documents to be couriered to the following address:
Empressa Building, Fourth Floor,
Second Road, Khar West,
Mumbai - 400052, Maharashtra, India
FAQs
Yes. Taking a loan from PaySense is absolutely safe. Any sensitive and personal information shared on PaySense is encrypted and is kept safe through SSL protocol. PaySense does not share user’s information with any marketing agency or third party associates.
The Paysense Loan interest rate starts from 16.00% p.m., depending on the borrower’s eligibility and repayment capacity.
Once you have uploaded the required documents and completed the application process, the PaySense team and its lending partners will verify the information provided by you. It takes up to 2 working hours to verify and give the loan approval. You can check the loan application status using the PaySense app.
No. No hidden fees and charges are involved in taking a personal loan from PaySense. All charges, including the interest rate, loan processing fee, late payment penalty and foreclosure charge are mentioned in the loan agreement.
Yes. PaySense allows taking multiple personal loans at the same time, subject to the condition that the overall loan amount is within the borrower’s approved credit line.
You can pay your PaySense EMI online by setting auto-debit to your bank account or through net banking. For online payment, you can download PaySense app and opt for PaySense login.
Download the PaySense personal loan app from the Google Play Store and open it. Log in using your account credentials. New users will have to register first by providing their details, like name, age, income, etc.. After entering the received OTP, their mobile number will be verified, post which they can log in.
Yes, PaySense loan is completely safe and secure as they do not share their customers’ information with third parties without consent.
To foreclose a PaySense loan, you will need to pay off your outstanding principal amount, accrued interest and applicable foreclosure charges (up to 4% on the remaining principal amount + GST). You can initiate the foreclosure process only after successful payment of the first 3 EMIs, by contacting PaySense customer support at support@gopaysense.com.
Yes, PaySense is an RBI-approved platform.
- The applicant should be a resident of India, aged between 21 to 60 years.
- The individual should be self-employed or salaried.
- The minimum income should be Rs. 18,000 per month for salaried individuals and Rs. 20,000 per month for self-employed individuals.
- The applicant must have an active net banking account.
- The applicant should be based in any of the 180+ cities in India where PaySense serves personal loans.