|Loan amount||Rs. 5,000 to Rs. 5 Lakhs|
|Tenure||3 to 60 months|
|Rate of interest||16% to 36% p.a.|
|Processing fees||Up to 2.5% of the loan amount + GST|
|Minimum Monthly Income||Rs. 12,000 for salaried and Rs. 15,000 for self-employed|
|Age required||21 to 60 years|
|Late EMI payments charges||Rs. 500 + GST|
|Foreclosure charges||4% of principal outstanding at foreclosure|
|Lowest EMI per lakh||Rs. 2,432|
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.
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After your PaySense personal loan request has been approved, there are some personal loan processing fees and charges that are applicable, such as:
|Processing Fees||2.5% of the loan amount + GST|
|Late Payment Fees||Rs. 500 + GST flat on every missed EMI|
|Pre-closure Fees||4% of the outstanding amount|
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:
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:
This is a quick source of personal loan for salaried and self-employed individuals. The loans can be used for various personal requirements, such as medical expenses, higher education, travel expenses, and more.
These loans are provided to customers to purchase a new car, a used car, or even a two-wheeler.
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.
Before you apply for a loan, make sure that you are fully aware of these terms and conditions (T&Cs):
Additional Info: Check Best instant loan app in India without salary slip.
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 Proof||PAN Card or Aadhaar Card|
|Address Proof||Utility Bills, Rental Agreement, or Aadhaar Card|
|Income Proof||Last 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.
In order to apply for a PaySense Loan, there are various options available to you as mentioned below:
After disbursal you can make PaySense payment for the borrowed amount online through EMIs.
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:
Apart from PaySense partner registration, we have 100+ partners registered with us for personal loans and other financial products.
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:
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:
PaySense does not provide any customer care number. You can send in all your queries via email to email@example.com.
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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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 personal loan interest rates on PaySense vary between 16% to 36% p.a., depending on the borrower’s eligibility and repayment capacity.
Factors that affect the home loan approval process include age, income & job/business stability, debt to income ratio, Credit Score, dependants, co borrower’s financial health, LAP etc.
Yes. Like any other loan, if you pay your PaySense personal loan EMIs on time, it can help you build and improve your credit score. Any delay or default in the payment can decrease your credit score. The only difference is that PaySense considers a loan application even if the applicant doesn’t have a credit history.
Once you have uploaded the required documents and completed the application process, PaySense team and its lending partners will verify the information provided by you. It takes up to 2 working hours for verifying and giving 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.
Yes, you can apply for a personal loan jointly with your spouse. By doing so, you can increase the credit line available to you.
No. PaySense offers fixed rate personal loans, which means that your EMI will remain the same every month for the entire loan tenure.