How to Apply for Instant Personal Loan Online PaySense
PaySense provides personal loans from Rs.5,000 to Rs.5,00,000 with an Annual Percentage Rate (APR) between 16% to 36% on a reducing balance basis.
PaySense is present in 180+ cities in India, including Mumbai, Bengaluru, Kolkata, Chandigarh, Chennai, and Delhi NCR. PaySense has partnerships with NBFCs/Banks registered with RBI such as Credit Saison India, Fullerton, IIFL, and PayU Finance.
We have disbursed over 1 lakh personal loans in the last 12 months. We are a personal loan app in India that offers easy and quick loans to salaried individuals.
Why Choose PaySense for Personal Loans
● Affordable interest rates
● Convenient and affordable EMIs
● Two-minute loan application
● Paperless documentation
● Loans available for those with low credit scores
Representative example: The standard processing fee is 2.5% of the loan amount.
For instance, if Anil takes a loan of ₹1 lakh for 24 months, he will be charged an APR of 24%. Also, he will be charged a processing fee of ₹2,500. So, Anil will pay his loan back in 24 EMIs of ₹5,391 each. He will pay total interest of ₹29,384. Hence, the total cost of the loan will be ₹1,31,884
Calculate your EMI with our EMI calculator on PaySense. The loan EMI calculator provides the freedom of deciding your own loan term and EMI amount. You can check EMI Plans for different loan terms. The calculator considers interest, principal loan amount, and tenure of the personal loan. Accordingly, it displays the amount of money you need to pay every month and the total interest payable.
Main Personal Loan Eligibility Criteria
● You must be a resident of India
● Your age must be between 21 and 60 years
● Your net monthly take-home salary should be more than ₹18,000 for Mumbai and Delhi based users.
● Your net monthly take-home salary should be more than ₹15,000 for other locations.
● You must be based in any one of the 180+ cities we serve across India
Pre-Payment and Late Payment Charges
The loan tenure is anything between 3 and 60 months. EMI and interests are then calculated basis the tenure chosen.
Pre-payment is allowed after 6 EMI payments. The foreclosure charge is 4% +18% GST on the remaining principal amount.
The Late Payment Charges are ₹500 +18% GST (₹590) upon failure to pay the EMI on the fixed date.
PaySense has been identified amongst the Top 100 Fintech innovators in the world by a KPMG and H2 Ventures report
You can use the PaySense app for multiple purposes.
● Personal Loan for Marriage / Weddings
● Personal Loan for New / Used Car and Two-Wheeler
● Personal Loan for Education
● Personal Loan for Medical Emergencies
● Personal Loan for Consumer Durables
● Personal Loan for Credit Card Bills
● Personal Loan for Home Renovation
● Personal Loan for Travel
How to Apply for Instant Personal Loan Online?
● Install the PaySense online loan app
● Register and check your personal loan eligibility
● Provide KYC documentation like ID proof (Aadhar/PAN/Voter ID), address proof (Aadhar/Utility bills/Rental Agreement), income proof (bank statement) and a photograph.
● Sign application and get speedy approvals
● Once approved, the loan amount will be credited to your account
PaySense personal loan app ensures safety via standard security and privacy standards to protect its database. Our app is safe and secure and we do not share customer information.