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PaySense Business Loan
PaySense Business Loan is a lending solution provided by PaySense, a non-banking financial company (NBFC). This loan is particularly targeted at salaried and self-employed individuals seeking immediate personal loans. The PaySense Business Loan can address your immediate funding and working capital requirements for expanding your business.
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PaySense Business Loan
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PaySense Business LoanHere are a few factors
| Location | Pan India |
| CIBIL Score | 700+ |
| Processing | Online |
| Business Vintage | 3 Year |
| Minimum Turnover | 2.50 Lac ITR required, No Turnover required |
| Loan Amount & Tenure | 50K-
10 Lac (6 month- 60 Month) |
| Loan Product | Term Loan |
| Rate of Interest & Type | 18% to 30% (Reducing) |
| TAT | Sanction-1
Days Disbursement-2 Days |
| Processing Fees | 2% to 6% |
| Foreclosure Charges | 4% |
| Applicant Type | Only Individual (Proprietor or Self Employed Professional) |
| Whether Co-Applicant Mandatory | No |
| Proprietor Age/Co-Applicant Age | 22 Year-57 Year |
| Part Payment Allowed | No |
| Whether Ownership Proof Required | No |
| Business Registration Proof Mandatory | Yes, 3 Year Old ITR required with business name |
| Program | ABB Program-10 Lac, ITR Program-10 Lac |
| Product for Professionals | No |
| Negative Profile | No Negative Profile |
| USP | 1.
Funding to both side rented applicant 2. Funding on ITR basis |
| Additional | Partners or Directors can apply in their individual name |
PaySense Business Loan EMI Calculator
Interest Type
Loan Amount
Interest Rate
Loan Tenure
| Loan Amount | ₹100,000 |
| Interest % | 18 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 9,168 |
| Total Interest | ₹ 10,016 |
| Loan Amount + Interest | ₹ 110,016 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 23,351 | ₹ 4,153 | ₹ 27,504 | ₹ 76,649 | 23.35 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 76,651 | ₹ 5,861 | ₹ 82,512 | ₹ 0 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Documents Required for PaySense Business Loan
Let’s look into the eligibilities and required Documentation to make your application process even smoother:
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KYC of applicant (Adhar Card, Pan Card, Passport Size Photo)
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Last 2 year ITR with computation of income of applicant
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Last 6 month Bank Statement of applicant
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Latest utility Bill of residence if owned or rent agreement if rented
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Latest utility Bill of Office if owned or rent agreement if rented
About PaySense Business Loan
PaySense Business Loans welcomes you to a world of possibilities. You need a financial partner who respects your goals and supports your road to company success as a cheerful businessman with a vision.
PaySense is a partner you can rely on, with a reputation for dependability and customer-centric services. When you select PaySense Business Loans, you are picking a financial partner who is invested in the success of your company.
Give your company the resources it needs to develop. Join up with PaySense to begin a journey of innovation, growth, and prosperity.
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
FREQUENTLY ASKED QUESTIONS
Applying for a PaySense Business Loan is straightforward: Visit their website or app, fill out a simple form, upload KYC documents and income proof, and you'll receive a decision with the loan amount disbursed to your bank account within hours¹.
Eligibility for a PaySense Business Loan includes having a net yearly turnover of at least Rs. 2.5 Lakhs, depending on your location, a CIBIL score of 700 or higher, being aged between 22 and 57.
Documents include KYC documents, 6 months bank statements, and income proof.
Loan amount from PaySense ranges from Rs. 50 K to Rs. 10 lakhs, based on your eligibility and credit profile.
The loan carries 18-22% monthly interest rate and 6-60 months tenure.
Repayment options include EMIs through NACH mandate or post-dated cheques, and online methods like account transfer, cheque, IMPS, or NEFT.
Yes, PaySense allows early loan settlements. Within 3 days after receiving the loan amount, no foreclosure charge or interest is required as part of their "Cooling off period" policy. After 3 days, applicable foreclosure charges and interest apply
Yes, PaySense evaluates eligibility based on income and bank statements, regardless of credit history.
Yes, PaySense is an RBI-registered NBFC-P2P lending platform.
Reach out via email at [email protected], call +91-22-62820570, or chat on their website or app.
The PaySense Business Loan offers numerous benefits: It requires no collateral or guarantor, has a simple online application process with minimal documentation, competitive interest rates and flexible EMI options, instant approval, and quick fund disbursal. You can also customize your loan amount and tenure.
PaySense Business Loan drawbacks include a processing fee up to 6% of the loan amount, no part-payment option, a high foreclosure charge, and a high late payment charge of Rs. 500 + GST.
Monitor your PaySense Business Loan status by logging into your PaySense account on their website or app, or by entering your mobile number and OTP on their website.
Improve your PaySense Business Loan eligibility by enhancing your credit score, increasing your income, reducing your existing debt obligations, maintaining a good repayment history, and opting for a longer loan tenure.
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