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  • PaySense Instant Short-Term Personal Loan

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  • We found 1 PaySense Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    PA PL OTP
    18% - 36% Fixed
    2% - 3% One time fee
    1L - 5L
    Upto 5 Years
    Only KYC docs required
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know

    Avail a loan amount ranging between Rs.5,000 to Rs.5 lakh with rates of interest ranging between 18.0% and 36.0% p.a. The repayment tenure is also flexible and will depend on the loan amount availed by you up to 5 years.

    If you are just starting out in your job and is in need of a loan, you can avail one from PaySense as the NBFC allows you to apply for one even if you do not have a credit score. You can also apply for a loan from PaySense even if you do not have a great credit score. However, it is always recommended that you do maintain a good credit score so that you can avail a personal loan at a lower interest rate.

    Paysense Instant Personal Loan Details

    Interest Rate Processing Fees Foreclosure/Prepayment Charges Late Payment Charges
    18% to 36% 2% - 3% + applicable taxes 4% on the principal outstanding (allowed only after first 3 EMIs) Rs.500 plus applicable taxes

    Features of Instant Personal Loan from Paysense

    • You can avail loan amounts ranging between Rs.5,000 to Rs.5 lakh.
    • Paysense offers personal loans to people with low or no credit history.
    • The required documents will be collected from your doorstep.
    • When you apply for subsequent loans, you will be asked no documentation.
    • The EMI plans are easy to manage and comes with payment reminders and auto-debit features.
    • The loan approvals and disbursals are quick.

    Eligibility Criteria for Instant Personal Loan from Paysense

    • You should be a resident of India
    • You should be aged between 21 years and 60 years of age
    • You should either be salaried or self-employed
    • If you are a salaried individual, your monthly income should be at least Rs.12,000
    • If you are self-employed, your monthly earnings should be at least Rs.15,000

    Documents Required to Avail Instant Personal Loan from Paysense

    Identity Proof Aadhaar card, passport, PAN card
    Address Proof Rental agreement, Aadhaar card, passport, utility or postpaid bills
    Income Proof Last 3 months bank statements
    Photograph A selfie

    How to Avail an Instant Personal Loan from Paysense

    Availing a personal loan from Paysense is simple, hassle-free, and involves just 3 steps. The steps have been explained below:

    1. Check your eligibility and select a loan plan
    2. Get an idea of how much loan amount you are eligible for by filling in a few basic details of yourself. Paysense calls it the line of credit. You are advised to avail a maximum of 50% of your approved limit to manage your EMIs better. Once you decide the amount of loan you wish to avail, you can choose the loan tenure and the plan.

    3. Upload your Know-Your-Customer documents
    4. To complete the loan application process, you will need to upload your KYC documents such as ID proof, address proof, etc. Once you have done that, you must sign a NACH form loan agreement. The NACH form will enable your EMIs to be deducted from your bank account automatically. This entire process is paperless and once the documents upload is complete, you will receive an approval within 2 business hours.

    5. Receive money in your account
    6. Prior to your loan being approved and the application process being completed, the loan amount will be transferred to your account almost instantly.

    FAQs

    1. Does Paysense have a mobile application that I can download on my smartphone?
    2. Yes, the mobile application of Paysense is available on Google Play (Android) to download on your smartphone. Once you download the app, you can apply for an instant personal loan through the app itself. Unfortunately, the app is not available for download on iOS and Windows platforms.

    3. How does Paysense decide my credit line?
    4. Your credit line will be decided based on the details you provide to Paysense such as your income, profile, bank statements, etc.

    5. How do I repay my loan availed from Paysense?
    6. The EMI for the personal loan you availed from Paysense will be auto-deducted for all those users who have an active National Automated Clearing House (NACH) status. For the others, a customised link will be sent to their Paysense account which can be used to pay their EMI.

    7. Can the EMI date be rescheduled?
    8. Unfortunately, the EMI date for your personal loan from Paysense cannot be rescheduled. At the moment, the EMI due date is fixed at the 3rd of each month.

    9. How do I foreclose my loan?
    10. You can foreclose the loan availed from Paysense only after you have made the first 3 EMI payments by emailing the request to support@goapaysense.com along with your account details.

    11. I have finished repaying my personal loan availed from Paysense. How do I obtain a No-Objection Certificate (NOC)?
    12. After you have repaid your loan successfully, you can email the customer care team at Paysense at support@goapaysense.com to obtain a NOC. Do not forget to include the details of your registered account in the email.

    13. How safe are my internet banking details?
    14. Paysense does not store any information of yours and hence, has no access to your details. So, you not have to worry about your details being disclosed to anyone. Paysense requires your internet banking details simply to do a verification of your income with the help of your bank statements. The information provided by you through the app is encrypted and kept secured through SSL protocol.

    15. I uninstalled the Paysense app after checking my credit line. If I wish to apply for a loan, do I have to start afresh?
    16. The Paysense app will allow you to login and continue your loan application from where you had left if you install it within 2 months of you checking your credit line. However, if you install the app after 2 months, you may have to start over and fill in your details again to get a new credit line as the credit line may get reassessed.

    17. Who are the partners of Paysense?
    18. At the moment, Paysense has partnered with Fullerton and India Infoline to offer personal loans to salaried and self-employed applicants.

    19. How do I get in touch with the Paysense team in case I have any query or need assistance?
    20. You can email the team of Paysense at support@goapaysense.com if you have any query/request. Make sure that you email them from your registered email ID and provide information such as your KYC details, your registered phone number, etc., for quick assistance.

        

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    PaySense Personal Loan Reviews

    • PaySense Personal Loan
      "Rate of int was high & need to improve in customer service"
      0.5 3.5/5 "Pretty good"
      The rate of interest was high 21.5% in PAYSENSE and the loan amount was Rs. 2.11L with the tenure of 30 months. I am paying EMI of Rs.9164, documentation was very long process after approval bank took almost 2-3 weeks. My application got approved on 7th and i got loan on 21st, customer service is not up to the mark. They need to be quick in processing and service to be improved.
      Was this review helpful? 0
      , mumbai
      Reviewed on Mar 15, 2020
    • PaySense
      PaySense Personal Loan
      "Good Loan Service"
      0.5 5.0/5 "Blown Away!"
      It was a quick process from Paysense personal loan and its easy method to apply the loan. They have taken 35 days to sanctioned this loan. I purchased this loan for business purpose. Interest rate offered was high but i have asked them to reduce the same but i haven't got any response from them. Now i pay the EMI amount of Rs. 5377 for the loan duration of 24 months.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 13, 2020
    • PaySense Personal Loan
      "Good Loan provider"
      0.5 3.5/5 "Pretty good"
      Just to improve the credit score, i have taken the personal loan from Paysense. I bought the loan amount of Rs. 50000 and they have offered me a interest rate of 15%. I have selected the duration of 12 months. They don't give the part payment facility to the customer. I have received the NOC letter via mail. I have paid the EMI amount of Rs. 4900 per month.
      Was this review helpful? 0
      , vadodara
      Reviewed on Mar 12, 2020
    • PaySense Personal Loan
      "Average Service"
      0.5 3.5/5 "Pretty good"
      I have taken personal loan through Paysense services India pvt ltd.The rate of interest and the processing fee was too high Rs.5000 was deducted as processing fee .I have availed this loan on higher rate of interest due to emergency .I have requested to reduce the rate of interest but not happened.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 11, 2020
    • PaySense Personal Loan
      "Very High interest rate"
      0.5 5.0/5 "Blown Away!"
      I want to repay the loan early but there is no way to contact with them. Whatever they have promised wasn't met and they have sanctioned the loan was bit delayed. Interest rates are quite high its 21%. I am not sure about the pre-closure and part payment charges. Documentation process was nice.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 11, 2020
    • PaySense Personal Loan
      "Process was good hence can refer to anyone"
      0.5 5.0/5 "Blown Away!"
      Paysense process is good and i was comfortable with the loan service and i got the loan very soon because they have done a complete follow up. Interest was bit high and I'm not completely satisfied on that. Processing fee was nominal and i am not sure about the loan duration.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 10, 2020
    • PaySense Personal Loan
      "Very Good Loan Service"
      0.5 5.0/5 "Blown Away!"
      Actually Paysense is ready to provide the loan always and after every 6 months, they will upgrade the loan amount and i can do the top up also. Their loan process is very good and they have offered me a nominal interest rate but processing fee is low. I have selected the duration of 1 year to close this loan.
      Was this review helpful? 0
      , kolkata
      Reviewed on Mar 10, 2020
    • PaySense Personal Loan
      "Convenient documentation process"
      0.5 3.0/5 "Satisfactory"
      I got a availability on Paysense for my loan amount so that i availed the loan here. Interest rate is too high on this loan because its 16%. I was eligible for Rs. 2 lakhs but they have sanctioned only Rs. 36000 when i checked with paysense people, they said based on this loan repayment history they can approve a top up loan upto Rs. 2 lakhs. I feel its very convenient, to apply the loan.
      Was this review helpful? 0
      , mumbai
      Reviewed on Mar 10, 2020
    • PaySense Personal Loan
      "Need to reduce the rate of interest"
      0.5 4.0/5 "Great!"
      In Paysense, they have not taken any physical documents and just sent all my documents through online and they have disbursed the loan amount. Rate of interest is high but they have disbursed the amount in one day. Taken the loan amount of Rs. 75,000 and they deducted Rs. 3,500 for processing fee.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Feb 25, 2020
    • PaySense Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Last August month, I have taken a personal loan from Paysense and the amount of 1.14L with tenure period of 2 years. The rate of interest 16% which is nominal and fee around of 4-5K. I got a message so I have applied a loan direct to them and within 2 days I received the amount. EMI need to pay of 5K around and pre closure applicable after 3 months.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 24, 2020
    • PaySense Personal Loan
      "Interest rate was bit higher "
      0.5 5.0/5 "Blown Away!"
      I have applied a personal loan in Paysense from online channel. The loan amount was Rs. 90,000 and the rate of interest was very high 26%, I am paying EMI of Rs.5055 with the tenure of 3 years and i received this loan within 15 days. Documentation process was excellent service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 19, 2020
    • PaySense Personal Loan
      "Excellent App which understand the customer needs"
      0.5 5.0/5 "Blown Away!"
      Taken my personal loan from Paysense and they have collected the documents in online that too minimal. It was processed within a month and the amount also credited to my account within 12 days. They are giving good rate of interest which is 8% to 10%. I will be paying Rs. 5000 to Rs. 6000 extra for the tenure period of 12 months. They have deducted Rs. 1000 for processing fee.
      Was this review helpful? 1
      , bangalore
      Reviewed on Feb 16, 2020
    • PaySense Personal Loan
      "Easy way to get a loan"
      0.5 4.5/5 "Excellent!"
      Its because of easy way to get a loan, I have availed the personal loan with Paysense. I have taken the loan amount of Rs. 1 lakh. They offered me a interest rate of 16% and they charged me a processing fee of Rs. 4000 approximately. I pay the EMI amount of Rs. 6900 for the tenure period of 18 months.
      Was this review helpful? 2
      , new delhi
      Reviewed on Feb 15, 2020
    • PaySense Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have availed personal loan through Pay Sense Services India Pvt Ltd. The rate of interest and the processing fee are very high it was 28% i have applied for 1lakh for the tenure of 2 years. The loan was sanctioned on delay basis it took 1 month time since the verification was done on delay basis .
      Was this review helpful? 2
      , bangalore
      Reviewed on Feb 14, 2020
    • PaySense Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan through PaySense Service India Private Ltd.The rate of interest and the processing fee are really good .This loan was sanctioned on delay basis it took around 45 days and not conveyed any reason this was really not acceptable. Other than that the process was good to me.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 14, 2020
    • PaySense Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I have availed personal loan through paysense services India Private Ltd.I was looking for higher loan amount but got only lesser amount that was my issue.I have applied for 1.3 lakhs but got only 60,000 .The loan got sanctioned on delay basis and there was no proper update .
      Was this review helpful? 2
      , thane
      Reviewed on Jan 29, 2020
    • PaySense Personal Loan
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      Interest rate is low and processing fees also low thats the reason i have chosen the personal loan from paysense. I have submitted the documents through online. I have taken the personal loan 3 months before. They have offered me a interest rate which is low when i compared with others. I am paying the EMI amount of Rs. 9511 for the loan amount of Rs. 1.72 lakhs.
      Was this review helpful? 0
      , nellore
      Reviewed on Jan 29, 2020
    • PaySense Personal Loan
      "Need to decrease interest rate"
      0.5 4.0/5 "Great!"
      I have applied a personal loan from Paysense through online. The process was done on smooth without any issue, so they have disbursed the loan within 2 days. I had applied for 1L but they have sanctioned only for 80K with tenure period of 3 years. Main drawback is rate of interest very high from their end of 24%. There is pre closure option without any charges.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jan 29, 2020
    • PaySense Personal Loan
      "Need to update payment option"
      0.5 3.0/5 "Satisfactory"
      I applied for Paysense personal loan through online. It is very hard to do the payment in their mobile app only it is accepting the paytm. It is not easy to enter the debit card details every time and if any calls come to me details get vanished, I need to enter it again and there is issue in login.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Jan 27, 2020
    • PaySense Personal Loan
      "Good Loan Service"
      0.5 5.0/5 "Blown Away!"
      I have bought the personal loan from Paysense for house rent purpose and their service is good. I am not sure about an interest rate but i got the loan amount of Rs. 1 lakh. I have provided the documents of voter id, photo, bank statement and Aadhar card. Their collection executive has came to my place to get the documents.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jan 20, 2020
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