PaySense

Instant PaySense Personal Loan

Whether it’s a financial crunch or a big-ticket purchase, an instant PaySense personal loan can help you with a loan quantum that ranges up to Rs. 5 lakh at the monthly interest rate starting from 1.40%.

Instant paysense personal loan

Benefits of PaySense Personal Loan

PaySense instant personal loan has the following beneficial features.

  • Applying for the instant PaySense personal loan is simple, and the processing takes the least time to get the amount credited into your bank account.
  • The PaySense personal loan amount can range from Rs. 5,000 to Rs. 5 lakh, so you can borrow a lower amount also, as per requirement.
  • PaySense makes it easy for first-time borrowers as the company provides instant personal loans to borrowers who have zero-credit history.
  • Flexible EMI plans are available and to make your EMI payment convenient, the app notifies you regarding the payment schedule.
  • A loan foreclosure facility is available.
  • Documents will be collected from your location, so you don’t have to visit anyone for the application process.
  • PaySense instant personal loan is available in 40+ Indian cities.

Instant PaySense Personal Loan Criteria

Minimum Loan Quantum Rs. 5,000
Maximum Loan Quantum Rs. 5,00,000
Minimum Tenure 3 months
Maximum Tenure 60 months
Minimum Rate of Interest 1.40% per month
Maximum Rate of Interest 2.30% per month

 

Fees and Charges of  Instant PaySense Personal Loan

Apart from monthly interest, PaySense personal loan can have the following fees and charges. Except for these charges, there won’t be any hidden charges in the PaySense personal loan.

Processing Fee on Loan Amount Up to 2.5%
Late Payment Charges Rs. 500 (GST applicable)
Loan Foreclosure Charges 4% on the outstanding principal

Eligibility Criteria for PaySense Personal Loan

To get the PaySense instant personal loan, one must meet the following eligibility criteria.

  • Your nationality should be Indian
  • Your minimum and maximum age should be 21 years and 60 years, respectively.
  • You should reside in any of the 40+ enlisted cities where PaySense loan is available.
  • If you’re a salaried individual, then your minimum income should Rs. 12,000 per month.
  • If you’re a self-employed individual, then your monthly income should be Rs. 15,000 per month.

Documents Required for PaySense Personal Loan

The applicant should enclose copies of the following documents with the application form.

  • PAN Card
  • Voter’s ID Card
  • Aadhaar Card
  • Rent agreement
  • Utility bills
  • Bank statement of last 3 months
  • Latest salary slip
  • A photo

How To Apply For PaySense Personal Loan

The following steps can get you the PaySense personal.

  • Download the PaySense app and register yourself first.
  • Then check for the eligibility criteria of PaySense instant personal loan.
  • Put the required details on the portal.
  • Submit your bank account details for the disbursal of the loan quantum.
  • With the proper documentation, your PaySense personal loan will hardly take a day to give you access to the fund.

Read more about: Instant cash loan in 1 hour

The EMI Calculator of PaySense

You can simply get an overview of the possible EMI obligation for your PaySense personal loan by using the EMI calculator of Roopya. Here you have to put your loan amount, tenure, interest rate, and processing fee, and the system will calculate the estimated EMI amount without any hassle. Use our EMI Calculator.

FAQs on PaySense Personal Loan

Here are the answers to some frequently asked questions regarding the PaySense instant personal loan.

  • What are the ways to repay my PaySense personal loan?

To repay your PaySense personal loan you can opt for any of the modes like UPI, Debit Card, wallet, or Netbanking.

  • Is it safe to use the PaySense app?

Yes, it is completely secure as PaySense transfers the required data to the lenders with the applicants’ full consent.

  • Can I get a salary advance from PaySense?

Yes, a salaried individual can take an instant loan ranging from Rs. 5,000 to Rs. 5,00,000 as a salary advance for 3 months to 60 months to support any financial need.

  • Do I need to have a CIBIL score to get the PaySense personal loan?

No, PaySense provides personal loans to salaried individuals with zero credit history also.

  • How long does it take to process the PaySense instant personal loan?

24 hours will be more than enough to process the PaySense loan as the company disburses the loan quantum within a few hours if the documentation and verification go perfect.

  • Can the PaySense personal loan affect my credit score?

Yes, just like any other credit facility do it to your credit score, the PaySense personal loan also do that in the same way. But it can really improve your credit score if you remit your EMIs on time and repay the loan within the tenure without a single default or delay.