What is Paysense? How to take loan from Paysense in 2024?

In olden times, taking a personal loan used to be a very difficult task. To apply for loans, people used to visit banks multiple times and put in a lot of effort to complete the documentation process. Even after that the loan was repaid within weeks. Due to such difficulties, people used to delay facing money problems in life. And this is where Paysense entered the market. By giving instant personal loan loan up to Rs 5 lakh. Paysense started serving the immediate financial needs of people.

What is Paysense?

Paysense is an Indian NBFC and its main objective is to make it easier for people to get personal loans. The approval and disbursal time of this NBFC is commendable. One of the most important features of Paysense Loan is that it offers personal loans to people who have no credit history. Read more to know why you should go for Paysense when it comes to getting an instant personal loan.

How to take loan from Paysense

PaySense Personal Loan is a collateral-free loan to meet all your immediate needs at competitive interest rates. PaySense offers instant personal loans ranging from Rs 5000 to Rs 5 lakh for various purposes like wedding, travel, medical emergency and home improvement. How to take loan from Paysense? Read for loan details and related information.

Key Features of PaySense Personal Loan

Rate of interest1.4% – 2.3% per month
LoanRs 5,000 to Rs 5 lakh
Instant Personal Loan Approval and PaymentGet your instant personal loan online approval with instant disbursement
Available in 60+ cities across IndiaPersonal loans given in more than 60 cities of the country
zero credit historyIndividuals with no or zero credit history or self-employed individuals can also apply for the loan

Note: The above mentioned interest rates are subject to change and will depend on the discretion of the NBFC and RBI. Interest rates are updated as of February 2022.

PaySense also offers a wide variety of Consumer Durable Loans including Mobile Loan, Camera Loan, Laptop Loan, Television Loan and Washing Machine Loan.

Paysense Instant Personal Loan Details

Paysense is all about providing financial assistance to people in need. No matter how big or small your need is, Paysense Instant Personal Loan covers it all. You can use the loan amount as per your wish as this NBFC will not track the end use of the personal loan amount at all.

  • Minimum personal loan amount – Rs. 5,000
  • Maximum personal loan amount – Rs. 5 lakhs

To avail an instant personal loan from Paysense, you must meet certain eligibility criteria. We have mentioned the eligibility criteria of Paysense in the below section of this article.

Features and benefits of taking loan from Paysense

Feature and Benefits of Paysense Se Loan in Hindi

Generally, when you apply for a personal loan, you do not expect any benefits. You expect delays in loan approval and disbursement. You can avail many benefits from Paysense. They are –

  • Instant personal loan up to Rs 5000. to Rs. 5 lakh – For your big and small needs, Paysense will help you with up to Rs 5000. Provides instant personal loans up to Rs 5 lakh.
  • Lightning Fast Loan Approval and Disbursal – With Paysense, you don’t have to wait for eternity to get loan approval and loan disbursement. Paysense gives you instant personal loans up to Rs 5 lakh within 2-5 days.
  • Less tedious documentation process – Doorstep service for documentation process makes Paysense better than its competitor. You can schedule time to pick up your documents when you are free.
  • Payment Reminder and Auto-Debit – Repayment of the personal loan amount becomes easier with Paysense as you have the option to auto-debit the EMIs. This NBFC also sends you payment reminders so that you can avoid any late payment charges.
  • Loan for applicant with zero credit history – Paysense offers instant personal loans to applicants with zero credit history. If you are just starting your new job, you can get an instant personal loan based on your KYC documents.

Loan interest rates and charges from Paysense

Interest Rate and Fees of Paysense Se Loan in Hindi

Keeping in mind the urgency of people for personal loans, Paysense charges interest rates of 1.4% to 2.3% per month. Apart from the interest rate, Paysense also charges other fees.

DescriptionFees and Charges
Paysense instant personal loan interest rates1.4% to 2.3% per month
processing feeUpto 5.00% of the amount
late payment chargesRupee. 500 + GST
Foreclosure/Pre-payment Charges6% on principal amount

Note: GST will be additionally added to the mentioned fees.

Eligibility criteria for taking loan from Paysense

Paysense Eligibility Criteria For Paysense Se Loan in Hindi

To avoid any hassles while taking a personal loan, you should be aware of the Paysense eligibility criteria. They are –

  • The applicant must be a resident of India.
  • His age should be between 21 years to 60 years.
  • Personal loans are given only to those who are employed and self-employed.
  • The minimum wage norms for salaried and self-employed individuals are Rs 12,000 and Rs 15,000 respectively.
  • As Paysense is active in 43 cities, you must be a citizen of any one of those 43 cities to be eligible for an instant personal loan.

Documents required for PaySense Personal Loan

Documents Required for PaySense Personal Loan

  • Duly filled application form with passport size photograph.
  • Identity Proof: PAN Card, Aadhar Card
  • Address Proof: Rental Agreement, Aadhar Card, Utility or Post-Paid Bill
  • Income Proof: Bank statements of last 3 months
  • Any other document required for PaySense

How to apply for Paysense short term loan?

The most ironic thing about Paysense is that you do not need to have a lot of patience while applying for a personal loan. The Paysense loan process is easy and quick. You can easily apply for Paysense short term loan by following the steps given below.

  1. Check eligibility and loan plans Select – Check your eligibility by providing your basic details. Once you are done with this, you will be offered a line of credit (approved limit) by Paysense. After that, you have to choose a loan plan which includes the loan amount, loan tenure and EMI. For convenient EMI planning, always choose to apply for only 50% of your credit line.
  2. Upload required documents – After completing the first step, go to the Documentation part. Implemented every document required by Paysense. Apart from this, you will also have to sign the NACH form loan agreement. By doing this, you will allow Paysense to auto-debit the EMI amount from your bank account.
  3. Get the loan amount instantly after loan application- Once you complete both the steps mentioned above, you will get approval from Paysense within 2 working hours. After getting loan approval, the loan amount will be transferred to your account. The entire process of Paysense short term loan is paperless.

PaySense – Customer Care

PaySense – Customer Care

Please note that PaySense does not have a customer care/customer service number. If you wish to contact PaySense, you must send an email to support@gopaysense.com.

You can also visit PaySense Head Office at: Jayvila Dev Shakti, 49 Tilak Road, Navyug Colony, Santa Cruz West, Mumbai, 400054, Maharashtra, India

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