Paisalo is a ‘Category B’ non-banking financial corporation (NBFC) registered with Reserve Bank of India which offers quick personal loans to those who wish to fulfill various needs and dreams.
If you wish to avail a loan in order to fulfill any of your dream, all you have to do is download the Paisalo app, create a profile and apply for a loan. Once the company verifies the details provided by you and finds it to be correct, they will disburse the money to your bank account.
Note: The app is currently available due to Supreme Court judgement of eKYC via Aadhaar Card.
You can also apply for a loan from Paisalo by visiting anyone of the branches in the city you reside. Click on the link https://www.paisalo.in/branches.php to find out about the Paisalo branch nearest to you. You can also get in touch with the contact person on clicking the above link and enquire about the process of applying for a loan.
You can also send an email to email@example.com and enquire about the application process. You can also send a mail via post to the address given below:
CSC, Pocket 52, CR Park,
Near Police Station,
New Delhi – 110019.
You can also call the hotline number 85 85 85 4848 to check the process of applying for a loan.
The rate of interest offered by Paisalo starts at 12.4% p.a. However, the rate of interest levied on the personal loan will depend on factors such as the loan amount, repayment tenure, etc. and hence, it must be kept in mind that the rate of interest is subject to change and is at the discretion of the company to implement those changes.
The minimum and maximum loan that you can avail will be at the discretion of the lender and will depend on factors such as the tenure chosen by you, your credit score, etc.
You can pay back your EMIs via an auto-debit (NACH) mandate which has to be approved by your bank in which the loan amount is credited to. Once you get the approval from the bank, the amount will be deducted from your bank accout on the due date.
The first EMI date will be payable a month from the date on which the loan amount was disbursed to your bank account. The subsequent EMIs will be deducted on each due date after that.
If your loan does not get approved, you can then apply again for a loan after 3 months from the date of which your loan was not approved.
If you delay in paying your EMIs, the company will charge a late fee on your overdue amount. If you delay any further, you will not be able to apply for a loan from Paisalo again. Apart from that, any delay in repaying your loan on time will adversely affect your CIBIL score which in the future will create difficulties in you applying for a loan from other financial entitities.
Repaying your loan on a timely basis helps in improving your CIBIL score. An improved CIBIL score means you will be able to avail loans in the future easily and at a much lower interest rate.
Yes, you can visit the nearest Paisalo branch nearest to you or apply the branch’s contact person to apply for a loan. You can find all the details including the contact and address of the branch on the Paisalo website.
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