PaySense Short-Term Loan
When a sudden financial crisis arises, it is important that it is met as soon as possible so that the debt doesn’t get accumulated to become a colossal amount. PaySense is an app-based lending platform through which customers can secure a loan worth up to Rs.2 lakh in only a matter of minutes. The instant loans offered by this financing organisation allow customers to gain access to quick funds as soon as a financial emergency arises. Additionally, since these loans can be applied for through a mobile app, the borrower will have the convenience to secure a loan any time he or she is in need of credit, and from anywhere. PaySense has been catering to the financial needs of numerous customers across more than 30 major cities in India. While applying for this loan, borrowers will also be able to select a repayment tenure based on their requirement, repayment capacity, and situation. With this scheme, individuals will be able to apply and process their loan applications from the comfort of their homes without having to do any legwork by standing in long queues.
Features of PaySense Short-Term Loans
Check out the key aspects of the PaySense Short-Term Loans mentioned in the list below:
- Quantum of loan - When a borrower chooses to apply for a short-term loan through PaySense, he or she will be eligible to secure a loan subject to a maximum of Rs.2 lakh.
- Competitive rates - The credit offered under this scheme is available at competitive rates so as to allow the customers to help gain access to credit any time he or she needs without having to worry about repaying a huge amount of debt.
- Flexible repayment tenure - While the maximum loan repayment tenure that can be availed by a customer is subject to his/her eligibility, the individual has the option to select a loan tenure that is convenient for him or her. The maximum repayment tenure that can be selected by a borrower under this financing plan is 24 months.
Benefits of PaySense Short-Term Loans
If you are unsure whether you should apply for a short-term loan through PaySense, check out the list below to learn about the many benefits that you can avail by applying for these loans:
- Paperless transactions - As the entire loan application process is carried out on a mobile app, the customer will not have to provide any physical document for this loan. In order to process the loan application under this scheme, all one has to do is upload the required documents through the app to check eligibility.
- Quick loan disbursals - This company processes and approves loan applications in minutes so that the customers can receive the loan amount within a few minutes. This will help borrowers take care of their financial crisis at the earliest.
- No hidden charges/ - PaySense believes in following transparency as a part of its code of business conduct. Therefore, the customer can be assured that he or she will not be charged any hidden fees when applying for a short-term loan through this organisation.
- Simple and hassle-free process - The user-friendly platform offered by this company ensures that customers can apply for a loan under this plan without any hassles.
- Single-time documentation - When applying for a PaySense Short-Term Loan, applicants will not be required to submit the documents more than once during the entire process. This will reduce the duration of the application process, saving customers a lot of precious time.
- Completely secure process - PaySense treats any data provided by the applicants with utmost privacy. Therefore, customers can remain sure that their data will not be revealed to any third-party vendor without their prior consent.
How to Calculate Your PaySense Short-Term Loan EMI?
- Go to the official website of PaySense at https://www.gopaysense.com/
- Scroll down to the ‘Calculate your EMI’ section on the page
- Drag the scale available under ‘I want to take a Loan of’ to adjust the amount of loan you want to borrow
- Click on ‘See EMI Plans’
- A table containing the loan EMI and total interest that you will have to pay for the selected amount for various tenures will drop down.
- Select the right loan amount according to your repayment capacity and click on ‘Apply Now on App’ below the table to process your loan application
How to Apply for a PaySense Short-Term Loan?
Follow the steps mentioned below to apply for a PaySense Short-Term Loan:
- Step 1: Download the PaySense mobile app
- Step 2: Check your loan eligibility through the company’s website or mobile app
- Step 3: Select the right plan according to your requirements and repayment capabilities
- Step 4: Process your loan application by completing the application form with all the required details
- Step 5: Provide all the necessary documents
- Step 6: Sign the loan agreement issued by the company
- Step 7: The loan amount will be disbursed to your bank account at the earliest
A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.