paysense personal loan

Here are a few factors

Product Rating

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Total - 864 ratings

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Location PAN INDIA
CIBIL Score 700+
Minimum Salary Per Month 18000/-Per Month
20000/- Metro City Per Month
Salary Mode NEFT,RTGS,IMPS if Company Name Mention, CHEQUE &COMPANY TRANSFER
Applicant Age 22 Year to 57 Year
Loan Amount & Tenure 50000 to 10 Lac
(6 Month to 60 Month)
Rate of Interest (Type) 18% to 22% (Reducing)
Processing Fees 1% - 3%
Processing Mode & TAT Processing: Online
TAT: 5 Min to 48 Hour
Foreclosure Charges As per Policies Generally 1% - 4%
Part Payment Allowed Allowed
OD Product NO
BT+TopUp Yes
Minimum Job Experience 3 Month
Current Employer Business Vintage 6 Month
FOIR 65% of Net Salary
Whether Co-Applicant Mandatory No
No of Enquiry Allowed Maximum 5 in last 3 month
USP 1. Funding to All Employee
2. 3 Month Salary in accounts in Continuation
3. Payslip not required
Negative Profile 1.Applicant receiving Salary through UPI or Cash Mode
2. Funding to Pensioner
3. Overobligaion Customer
4. Any person who is director in any company having shareholding>5%
5. Applicant having Overdue in their CIBIL
6. Single name applicant
Additional 1.The applicant who have applied before can re-apply after 30 days
2. If applicant is having single name mention his father name for last name

paysense personal loan EMI Calculator

Interest Type

Loan Amount

Interest Rate

%

Loan Tenure

Mo
Loan Amount100,000
Interest %18 %
Tenure (months)12
Emi (monthly)9,168
Total Interest10,016
Loan Amount + Interest110,016
YearTotal Principal
( A )
Total Interest
( B )
Balance
( A + B)
Total Payment Loan Paid Till Date (%)
23,3514,15327,50476,64923.35 %
Oct7,6681,5009,16892,3327.67 %
Nov7,7831,3859,16884,54915.45 %
Dec7,9001,2689,16876,64923.35 %
76,6515,86182,5120100.00 %
Jan8,0181,1509,16868,63131.37 %
Feb8,1391,0299,16860,49239.51 %
Mar8,2619079,16852,23147.77 %
Apr8,3857839,16843,84656.15 %
May8,5106589,16835,33664.66 %
Jun8,6385309,16826,69873.30 %
Jul8,7684009,16817,93082.07 %
Aug8,8992699,1689,03190.97 %
Sep9,0331359,1680100.00 %
Right Documents - Easy Process

Required Documents to Apply for Paysense Personal Loan

  • KYC of Applicant (Adhar Card+Pan Card+Passport Size Photo)
  • Last 3 month Bank Statement in PDF
  • Rent Agreement if rented or Utility Bill if residence is owned

About PaySense Personal Loan

PaySense provides personal loans for amounts ranging from 5,000 to 5 lakh rupees at monthly interest rates of 1.4% to 2.3%. It offers quick personal loans with flexible EMI alternatives to salaried and self-employed individuals. Borrowers can submit their KYC papers and electronically sign their loan applications as part of the NBFC's paperless documentation process. People with no credit history, or those who have never gotten a loan or credit card before, can also get personal loans through PaySense.

Paysense provides personal loans for the purchase of consumer durables such as smartphones, cameras, laptops, televisions, washing machines, and refrigerators.

01
Visit Our Website

For the first step, you will have to visit our website to explore the loan options that fit your needs.

02
Select and Apply

Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.

03
Submit Your Document

One of the most important steps. Now you will have to submit all the required documents digitally.

04
Enjoy Your Financial Freedom!

Once your application is approved based on your eligibility, you will receive your loan amount shortly.

Let us take an example, How EMI is being calculated

For instance, if "Shubham" applies for a Personal loan of INR 1 Lacs and get the loan sanctioned at the rate of 15 % with a tenure range of 36 Months , in such a case his EMI would be INR 3,467 and complete repayment amount till the end of 36 Months tenure would be INR 1,24,795 (i.e 3,467 EMI * 36 Months), wherein the total interest amount is INR 24,795 along with principal repayment of INR ₹1,24,795 . Few additional charges like those of minimal one-time processing fee 2% of the disbursed amount + GST of loan amount may apply. T&C apply.
Year Principal
(A)
Interest
(B)
Total Payment
(A + B)
Balance Loan Paid To Date
2022 ₹ 11,363 ₹ 5,969 ₹ 17,333 ₹ 88,637 11.36%
Aug ₹ 2,217 ₹ 1,250 ₹ 3,467 ₹ 97,783 2.22%
Sep ₹ 2,244 ₹ 1,222 ₹ 3,467 ₹ 95,539 4.46%
Oct ₹ 2,272 ₹ 1,194 ₹ 3,467 ₹ 93,267 6.73%
Nov ₹ 2,301 ₹ 1,166 ₹ 3,467 ₹ 90,966 9.03%
Dec ₹ 2,329 ₹ 1,137 ₹ 3,467 ₹ 88,637 11.36%
2023 ₹ 30,332 ₹ 11,266 ₹ 41,598 ₹ 58,305 41.70%
Jan ₹ 2,359 ₹ 1,108 ₹ 3,467 ₹ 86,278 13.72%
Feb ₹ 2,388 ₹ 1,078 ₹ 3,467 ₹ 83,890 16.11%
Mar ₹ 2,418 ₹ 1,049 ₹ 3,467 ₹ 81,472 18.53%
Apr ₹ 2,448 ₹ 1,018 ₹ 3,467 ₹ 79,024 20.98%
May ₹ 2,479 ₹ 988 ₹ 3,467 ₹ 76,545 23.45%
Jun ₹ 2,510 ₹ 957 ₹ 3,467 ₹ 74,036 25.96%
Jul ₹ 2,541 ₹ 925 ₹ 3,467 ₹ 71,495 28.51%
Aug ₹ 2,573 ₹ 894 ₹ 3,467 ₹ 68,922 31.08%
Sep ₹ 2,605 ₹ 862 ₹ 3,467 ₹ 66,317 33.68%
Oct ₹ 2,638 ₹ 829 ₹ 3,467 ₹ 63,679 36.32%
Nov ₹ 2,671 ₹ 796 ₹ 3,467 ₹ 61,009 38.99%
Dec ₹ 2,704 ₹ 763 ₹ 3,467 ₹ 58,305 41.70%
2024 ₹ 35,208 ₹ 6,390 ₹ 41,598 ₹ 23,097 76.90%
Jan ₹ 2,738 ₹ 729 ₹ 3,467 ₹ 55,567 44.43%
Feb ₹ 2,772 ₹ 695 ₹ 3,467 ₹ 52,795 47.20%
Mar ₹ 2,807 ₹ 660 ₹ 3,467 ₹ 49,988 50.01%
Apr ₹ 2,842 ₹ 625 ₹ 3,467 ₹ 47,147 52.85%
May ₹ 2,877 ₹ 589 ₹ 3,467 ₹ 44,270 55.73%
Jun ₹ 2,913 ₹ 553 ₹ 3,467 ₹ 41,356 58.64%
Jul ₹ 2,950 ₹ 517 ₹ 3,467 ₹ 38,407 61.59%
Aug ₹ 2,986 ₹ 480 ₹ 3,467 ₹ 35,420 64.58%
Sep ₹ 3,024 ₹ 443 ₹ 3,467 ₹ 32,397 67.60%
Oct ₹ 3,062 ₹ 405 ₹ 3,467 ₹ 29,335 70.67%
Nov ₹ 3,100 ₹ 367 ₹ 3,467 ₹ 26,235 73.76%
Dec ₹ 3,139 ₹ 328 ₹ 3,467 ₹ 23,097 76.90%
2025 ₹ 23,097 ₹ 1,169 ₹ 24,266 ₹ 0 100.00%
Jan ₹ 3,178 ₹ 289 ₹ 3,467 ₹ 19,919 80.08%
Feb ₹ 3,218 ₹ 249 ₹ 3,467 ₹ 16,701 83.30%
Mar ₹ 3,258 ₹ 209 ₹ 3,467 ₹ 13,443 86.56%
Apr ₹ 3,298 ₹ 168 ₹ 3,467 ₹ 10,145 89.86%
May ₹ 3,340 ₹ 127 ₹ 3,467 ₹ 6,805 93.19%
Jun ₹ 3,381 ₹ 85 ₹ 3,467 ₹ 3,424 96.58%
Jul ₹ 3,424 ₹ 43 ₹ 3,467 ₹ 0 100.00%
Leave Your Question

FREQUENTLY ASKED QUESTIONS

The minimum CIBIL score required for a Paysense personal loan must be 700.

The minimum salary of the applicant for a Paysense personal loan should be at least Rs.20,000 in Metro cities & Rs. 18,000 in the rest of the cities.

While applying for the personal loan with Paysense, you would need to submit proof of identity (Adhaar card / PAN card), proof of your address (Adhaar card, utility bill, or rental agreement, a proof of your income (bank account statement), and one photograph. Once this documentation gets approved, Paysense approves the personal loan within a few hours and disburses the funds within a few days.

No, PaySense allows you to cancel the personal loan once the money is deposited into your bank account.

Yes, PaySense allows you to apply for another personal loan even if you already have one. However, that gets approved based on your credit.

You can avail of a personal loan of up to 10 lakh from PaySense.

PaySense is a personal loan app that provides instant loans to individuals ranging from ₹50,000 to ₹10,00,000. The loans come with attractive interest rates, flexible repayment options and the convenience of applying through a mobile app or website.

Yes, taking out a loan from PaySense is completely safe. PaySense places a high emphasis on the security of its customers' personal and sensitive information, which is encrypted and protected by SSL protocol. Additionally, PaySense does not share its customers' information with any third-party marketing agencies or associates.

Yes, PaySense is a registered Non-Banking Financial Company (NBFC) with the Reserve Bank of India (RBI) and has partnerships with leading credit bureaus such as TransUnion CIBIL to ensure the safety and reliability of their services.

To get a loan from PaySense, you will need to provide some basic information such as your personal details, employment details, and bank details. You will also need to upload some supporting documents such as a government-issued ID, a bank statement, and a recent photograph.

The interest rate for personal loans from PaySense can vary between 18% and 22% per annum, depending on the borrower's eligibility and repayment capacity.

When evaluating a home loan application, banks consider a range of factors, including the applicant's age, income and job stability, debt-to-income ratio, credit score, number of dependents, the financial health of co-borrowers, and other factors.

Yes, getting a loan from PaySense can impact your credit score. Making your loan payments on time can help improve your credit score, while missing payments or defaulting on the loan can decrease your credit score. PaySense does consider loan applications from people who do not have a credit history.

Once you have submitted your required documents and completed the loan application process, the PaySense team and its lending partners will review your information. The verification process typically takes up to two business hours, and you can check the status of your loan application through the PaySense app.

No, there are no hidden charges when taking out a loan from PaySense. All charges, including the interest rate, loan processing fee, late payment penalty, and foreclosure charge, are fully disclosed in the loan agreement.

Yes, it is possible to take out multiple loans from PaySense, provided that the total loan amount is within your approved credit limit.

Yes, you and your spouse can apply for a personal loan together. This can increase the amount of credit available to you.

 


To calculate your PaySense loan EMI, you can either use a manual calculation using a formula or use the EMI calculator provided by Refer Loan. To use the manual calculation, you need to enter the loan principal amount, rate of interest and repayment tenure in the formula [P x R x (1+R)^N]/[(1+R)^N-1]. Using the EMI calculator, you simply need to enter a few details and you will get an instant result. This helps you understand the affordability of the loan and make sure that your monthly repayments are manageable.

 PaySense is a mobile loan app that offers personal loans ranging from Rs 50,000 to Rs 10 lakh.

To be eligible to apply for a PaySense loan, both salaried and self-employed individuals must have a minimum monthly income of Rs. 18,000.

 PaySense offers personal loans at an annual percentage rate (APR) of 18% to 22%.

 To be eligible for a loan from PaySense, you must be a resident of India, between the ages of 22 and 57, have a minimum monthly income of Rs 18,000 for non-metro cities and Rs 20,000 for metro cities, and live in one of the 180+ cities supported by PaySense.

You can make a payment for your PaySense loan through the PaySense app or on their website using a debit card or net banking. There may be an extra payment gateway charge for using PayU's gateway services.

 To close your PaySense account, you need to send an email to their customer service team and complete a pre-closure form with all the necessary information.

PaySense charges a processing fee of up to 3% of the loan amount, plus standard GST.

Yes, you can foreclose your PaySense loan after paying three EMIs, but there will be an additional foreclosure charge of 4% levied on the remaining principal amount.

No, it is not possible to cancel or modify a loan application once it has been submitted. It's crucial to thoroughly review all the information before submitting to ensure accuracy and avoid any inconvenience.

 Foreclosing a loan can have a major negative impact on your credit score and affect your ability to obtain future loans.

 Yes, PaySense does check the CIBIL score of loan applicants, and it is recommended that your score is 700 or above.

PaySense offers personal loans ranging from Rs 50,000 to Rs 10 Lakhs with interest rates of 1.5% to 1.84% per month and flexible repayment options ranging from 6 to 60 months.

 PaySense is owned by PayU, which is part of Prosus and majority-owned by Naspers.

PaySense is a good option for getting instant loans because their loan process, from identification to disbursal, is truly instant. They also have a user-friendly interface to ensure a quick and smooth loan process.

Yes, PaySense is registered with the RBI as a Non-Banking Financial Company (NBFC).

PaySense is a legitimate app that provides personal loans to eligible borrowers. You can apply for a loan of up to Rs. 10 lakhs with attractive interest rates, no collateral required, and flexible repayment options.

You can easily make your PaySense EMI payments through the PaySense app or by visiting their website at www.gopaysense.com/pay. Simply click on the "Pay Now" button and enter the amount you need to pay. You can make payments using either a debit card or net banking.

No, PaySense and LazyPay are two different services. PaySense provides personal loans to both salaried and self-employed individuals, while LazyPay only provides loans to salaried individuals.

PaySense provides instant personal loans ranging from ₹50,000 to ₹10,00,000, with Annual Percentage Rates (APRs) ranging from 18% to 22% based on a reducing balance. Loan tenures range from 6 to 60 months. You can use the EMI calculator available on the PaySense app or website to calculate your monthly payments

Yes, PaySense has teamed up with TransUnion CIBIL to give you access to your CIBIL credit score.

No, PaySense is based in Mumbai and was founded in 2015. It is a financial services startup backed by venture capital.

Pre-EMI is a term used when the full loan amount is not disbursed. In these cases, you only need to pay the interest on the disbursed amount. EMI (Equated Monthly Installments) typically includes both the interest and principal repayment amounts, but with pre-EMI, only the interest component is paid.

If you are eligible for a loan, PaySense offers instant approval for loans ranging from Rs. 50000 to Rs. 10 lakhs. The approval process can be completed in as little as 2 hours!

PaySense charges a processing fee of up to 3% of the loan amount. The processing fee is subject to standard Goods and Services Tax (GST).

To get a loan from PaySense, you will need to provide some basic information such as your personal details, employment details, and bank details. You will also need to upload some supporting documents such as a government-issued ID, a bank statement, and a recent photograph.

To apply for a loan with PaySense, you'll need to download the mobile app and upload your documents digitally. This includes an Aadhaar card or PAN card for identity verification, a bank statement for proof of income, and a photograph. If you provide all the necessary documents, the approval process should be quick and hassle-free.

No, your monthly payments on a PaySense personal loan will not change. PaySense offers fixed-rate personal loans, meaning that your monthly payment will remain the same for the entire loan term.