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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
    18.00% - 36.00% Fixed
    2% - 3% + taxes One time fee
    1L - 5L
    Upto 5 years
    Only KYC docs required
    What you'll love
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    Fees & Charges
    Good to Know

    Paysense is a venture-backed, financial services startup that was established in 2015 and has its head office in Mumbai. It has a partnership with one of India’s leading Non-Banking Financial Company (NBFC), India Infoline (IIFL). You can avail up to Rs.5 lakh as a personal loan from Paysense through your laptop or phone and repay it in easy equated monthly instalments (EMIs). Paysense offers a variety of loans to fund your various fund requirements such as travel, wedding, home improvement, etc.

    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.


    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
      "Need an improvement"
      0.5 2.0/5 "Expected more"
      The services are not good from Paysense. When I applied for a personal loan with them, they have contacted me and after that there was no call backs. It was referred by friend so thought just try for it. I think, the rate of interest and charges are reasonable.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 14, 2019
    • PaySense
      PaySense Personal Loan
      "Need to improve their service"
      0.5 1.0/5 "Really Bad"
      I applied for personal loan from PAYSENSE SERVICES INDIA PRIVATE LIMITED. I had submitted all my documents on time but still now I have not receive my amount. I dont have any contact number to their service as well. The rate of interest is high of 20%.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 12, 2019
    • PaySense Personal Loan
      0.5 5.0/5 "Blown Away!"
      I applied for personal loan from PAYSENSE SERVICES INDIA PRIVATE LIMITED. I had submitted all my documents on time and there was no problem during verification. Loan got disbursed on time but rate of interest is very high. Their customer service is very good.
      Was this review helpful? 5
      , new delhi
      Reviewed on Aug 09, 2019
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