PaySense Loan Details

Loan amountRs. 5,000 to Rs. 5 Lakhs 
Tenure3 to 60 months
Rate of interest16% to 36% p.a.
Processing feesUp to 2.5% of the loan amount + GST 
Minimum Monthly IncomeRs. 12,000 for salaried and Rs. 15,000 for self-employed
Age required21 to 60 years
Late EMI payments chargesRs. 500 + GST
Foreclosure charges4% of principal outstanding at foreclosure
Lowest EMI per lakhRs. 2,432

PaySense App

PaySense is an app that provides multipurpose Instant Personal Loans Online. You can get up to Rs. 5 Lakhs in just 5 hours with minimal documents for tenure up to 60 months and at interest rate starting from 16% p.a.

Fees and Charges of PaySense Loans

After your PaySense personal loan request has been approved, there are some processing charges and fees that are applicable, such as:

Processing Fees2.5% of the loan amount + GST
Late Payment FeesRs. 500 + GST flat on every missed EMI
Pre-closure Fees4% of the outstanding amount

Features and Benefits of PaySense Loan

You have a host of beneficial features when it comes to PaySense loan that make it one of the most preferred options for quick funding.

Here are a few features and benefits of these loans:

  • PaySense offers instant personal loans between Rs. 5,000 and Rs. 5 lakhs.
  • PaySense interest rate varies from 1.4% to 2.3% per month.
  • You can make loan repayment in affordable EMI plans within 3 months to 5 years.
  • PaySense personal loan services are available in 50+ cities in India.
  • There is a processing fee of up to 2.5% of the loan amount + GST.
  • You can foreclose your loan after 3 successful EMI payments at an additional charge of 4% of principal outstanding.
  • It offers quick loan approval and disbursal.
  • You can avail of doorstep collection service of documents. Just sign documents and hand them over to the courier.
  • Get  subsequent personal loans in one click as only one time documentation is required. No further checks are required.

Types of PaySense Loans

There are different kinds of PaySense Loans that you can apply for based on the purpose of the loan. Each loan type is very easy to avail and allows you to manage payments and finances a lot better. You can make PaySense online payment for the loan in EMIs.

Here is a list of the types of loans that you can avail from PaySense:

  • Instant Personal Loan

This is a quick source of funding available to both salaried and self-employed individuals. The loans can be used for various personal requirements, such as medical expenses, higher education, travel expenses, and more.

  • Vehicle Loan

These loans are provided to customers to purchase a new car, a used car, or even a two-wheeler.

  • Consumer Loan

This loan is specially designed to help you purchase consumer durables.

You do not have to make a single payment towards the item or use your Credit Card to make these payments. Instead, you may avail a loan from PaySense to convert these purchases into flexible EMI repayments.

You have the option of purchasing mobile phones, laptops, cameras and any other consumer durable with the help of instant loans provided by PaySense.

Terms and Conditions

Before you apply for a loan, make sure that you are fully aware of these terms and conditions (T&Cs):

  • The user must agree and declare that they are at least 18 years of age.
  • Any violation of the T&Cs authorizes the company to terminate/block the user’s PaySense login account.
  • PaySense has the sole discretion to remove or modify portions of T&Cs.
  • To use the platform, users must have an account and provide necessary details & information.
  • The user is responsible for maintaining complete security and confidentiality of their account.
  • The user can update/access information through the dashboard provided in the not transferable account.
  • Users are provided with limited access licenses to the account and unauthorised access is not permitted.
  • PaySense reserves all the rights to cease/suspend any service.
  • If the information provided by the user is incorrect or inaccurate, PaySense will not be held responsible for liabilities and claims.
  • PaySense does not provide any warranties on behalf of its partners.
  • PaySense is not registered with the RBI and does not hold a license to lending or borrow.
  • The responsibility of PaySense is limited to providing services to the user.

Documents Required for PaySense Loans

In order to get the PaySense Loan, you will have to provide some documents in order for the company and its associate NBFC to assess your loan application and provide you with a suitable plan.

The documents required for PaySense Loans are as follows:

Identity ProofPAN Card or Aadhaar Card
Address ProofUtility Bills, Rental Agreement, or Aadhaar Card
Income ProofLast 3 months bank statements

Users will have to upload pictures of all the Personal Loan Documents mentioned above, along with their selfie to complete the loan application process.

How to Apply For PaySense Loans?

In order to apply for a PaySense Loan, there are various options available to you as mentioned below: 

Through the App

  • Download the app on your android device using Google Play Store.
  • Once you open the app, you will have to provide your personal details such as name, age, income, etc.
  • An OTP will be sent to the mobile number that you have provided.
  • Enter the OTP to complete the registration process.
  • You can choose the loan amount and tenure using the EMI Calculator tool provided.
  • Choose a feasible plan as per your repayment capacity.
  • Once you select the loan plan, you will have to complete the application process by uploading necessary KYC documents.
  • Your profile will be assessed in 15 minutes using the documents provided.
  • Based on the eligibility, you will be given the maximum loan amount that you can apply for.
  • Once your application is complete, the information provided by you is verified and the disbursal of the loan amount will take up to 2 working hours.
  • Users can check the status of their application on the application.

After disbursal you can make PaySense payment for the borrowed amount online through EMIs.

Through the MyMoneyMantra

Getting a loan through MyMoneyMantra offers you a simple platform that you can connect with various NBFCs and banks through. All you have to do is:

  • Access
  • Select "Personal Loan" in the Loans tab.
  • Log in by entering necessary details.
  • Verify with the OTP.
  • Enter your employment details and income information.
  • Enter your complete date of birth, PAN card details, and address.
  • Click on the Submit and View Offers button.
  • Select the desired option and then click on Econnect.
  • Our team will contact you to complete the process.

Apart from PaySense partner registration, we have 100+ partners registered with us for personal loans and other financial products.

Eligibility Criteria for PaySense Loans

In order to seek a loan from PaySense, customers are required to fulfill certain PaySense eligibility conditions.

The eligibility criteria for these loans are as follows:

  • Salaried and self-employed applicants are eligible.
  • The applicant should be a resident of India.
  • The current city where they reside should fall under the cities serviced by PaySense.
  • The minimum age for a loan application is 21 years and maximum age is 60 years to meet the PaySense loan eligibility.
  • The individual can be self-employed or salaried.
  • In case of salaried individuals, the minimum income should be Rs. 12,000 per month.
  • In case of self-employed individuals, the minimum income should be Rs. 15,000 per month.
  • They must have a net banking account which is currently active.

How to Calculate PaySense Loan EMI?

Make sure that you calculate your PaySense EMI payment before you apply for the loan. This helps you understand the affordability of these loans and make sure that you are not burdened too much each month with the repayment.

The options available to calculate your EMI are as follows:

  • Manual calculation using the formula - [P x R x (1+R)^N]/[(1+R)^N-1]. In this formula, P is the principal amount, R is the rate of interest and N is the repayment tenure of the loan.
  • Using the EMI Calculator of MyMoneyMantra. You can enter a few details to get an instant result.

PaySense Loans Customer Care

PaySense does not provide any customer care number. You can send in all your queries via email to

Any documents to be couriered to the following address:

Jaivilla Dev Shakti, 49 Tilak Road, Navyug Colony, Santacruz West, Mumbai - 400054

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