Urban Money

Paysence Service Pvt Ltd Personal Loan

Paysence Service Pvt Ltd
4.5

PaySense personal loan happens to be a collateral free loan. With this loan, the financial institute aims at meeting your immediate requirements at a competitive interest rate. PaySense provides instant personal loans ranging between Rs. 5000 and Rs. 5 lakh for different purposes, including travel, weddings, home improvement, and medical emergency. Read more about the details & specified related information.

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Personal Loan Banks

Interest Rate

Processing Fee

Loan Amount/Tenure

Paysence Service Pvt Ltd Personal Loan Interest Rate

16.8% - 27.6%

Up to 2.5%

₹5K - ₹5L

Details

Features and Benefits of Paysense Service Pvt Ltd personal loan

PaySense’s personal loans let you enjoy your event without holding anything back. Whether it’s your international vacation, a wedding, buying a gadget, home renovation, or something else, the company provides the best personal loans that help you fulfill your dreams.

The company provides a quick and seamless solution to meet financial needs regardless of whether it’s small or big. Whether you require funds for medical emergencies or celebrate a family function, the loan can finance all your Paysense personal loan requirements. PaySense offers instant personal loans for both self-employed businessmen and salaried professionals.

  • Flexible tenures
  • low-interest rates
  • easy EMI repayment
  • minimal documentation
  • instant processing
  • quick disbursal

Here are the features of the loan:

  • Instant loans: You can get personal loans instantly ranging between ₹5000 and ₹5 lakh to fit your needs.
  • Quick Approvals and Disbursals: You can now get prompt loan approval & money in the account
  • Paperless Documentation: All you need is to upload the pictures of the KYC documents & sign the loan application.
  • Inexpensive EMI plans: Simple to manage the EMI plans with auto-debit and reminders features such that you do not miss out on playing the amount timely.
  • Single-click subsequent loans: If you are in need of another loan, you can apply for Paysense personal loan. It features one-time documentation & it’s just a tap away. You do not need any further clicks.
  • Zero Credit History: If you haven’t ever taken a personal loan, it’s alright. The company will ensure that you have no problems while managing your payments.

So, these are the benefits that one can get by availing of instant personal loans from this financial institute.

Paysense Service Pvt Ltd Personal Loan Overview

PaySense personal loan happens to be a collateral-free loan. With this loan, the financial institute aims at meeting your immediate requirements at a competitive interest rate. PaySense provides instant personal loans ranging between Rs. 5000 and Rs. 5 lakh for different purposes, including travel, weddings, home improvement, and medical emergency. Read more about the details & specified related information.

Eligibility Criteria and Factors Affecting Paysense Service Pvt Ltd personal loan Eligibility

Given below are the Paysense personal loan eligibility criteria:

  • The applicant must be a minimum of 21 years and a maximum of 60 years
  • Loan for Self-employed and Salaried individuals
  • You need the recent city of residence under operative areas
  • The minimum monthly salary for the salaried individual must be Rs. 12,000  & Rs. 15,000 for the self-employed

Paysense Service Pvt Ltd Fees and charges

There are processing fees that the financial institution charges, and it ranges to 2.5% of the total loan amount. In addition, if someone is late and cannot pay the EMI timely, then he or she will need to pay an extra Rs. 500 plus the GST amount. As for the foreclosure or prepayment charges are concerned, it’s usually a 4% charge on the principal at the time of the foreclosure!

Paysense Personal Loan Interest Rates

The Paysense personal loan provides loans with the Paysense personal loan interest rate ranging from 1.4% to 2.3% for each month.

Factors affecting Paysense Service Pvt Ltd personal loan interest rates

The interest rate can influence the overall affordability of the individual. With a higher interest rate, there’s more EMI amount. There are different factors that sway the lender & individual banks for altering the personal loan interest rate considering multiple individuals. Here are factors to consider:

Banking Relationship

The more accounts you open with the bank, the more loyal customers you happen to be! As a matter of fact, loyalty develops as the personal relationship with the bank that helps in attracting favourable personal loan rates of interest. You may also leverage with the bank as the customer and friend.

Credit History

NBFCs or Banks examine the CIBIL score even before approving the loan Paysense personal loan online application. The credit score happens to be a 3-digit representation of the creditworthiness. Having a decent credit score just means that you have already gained the potential of managing the finances and can repay the amount timely.

Income

Income is another factor that decides the rate. Since the company needs to ensure that you can repay their amount, a higher income will make the financial institute trust you with a lower interest rate.

Loan Payment History

Along with CIBIL scores, the financial organization can scrutinise the payment record history right before deciding the interest rate. When you are regular with the repayments, you can probably get charged a low-interest rate. A majority of banks prefer leading to the customers who haven’t defaulted in the previous 12 months. The companies may generally reject most loan forms or even charge a greater interest rate.

Organisation’s Reputation

The company charges you an interest rate and that’s lower for the salaried employees (working in a recognizable organisation). It’s noteworthy to mention that as they have a stable career, they are thought to repay the payments timely.

Documents Required for Paysense Service Pvt Ltd personal loan

Given below are the documents required for Paysense personal loan:

  • Duly filled form with the passport-sized photos
  • ID proof: Aadhaar card, PAN card, or Voter card
  • Address proof: Aadhaar card, Rental agreement, utility, or even post-paid bills
  • Income proof: last 3 months Bank statements 
  • Other documents if and when required

How does the EMI calculation work for Paysense Service Pvt Ltd personal loans?

Get the personal loan on terms with the flexible EMI & tenure options ranging between 3 and 60 months. Enter your personal loan amount if you want to find out the EMI through a PaySense calculator. After entering, the calculator will tell your EMI and the interest rate for your personal loan.

Paysense Service Pvt Ltd Personal Loan Customer Care Number

It might be noted that PaySense does not have customer care or any customer service number. Just in case you wish to get in touch with professionals of PaySense, you would require sending the email.

You may visit the head office here: Jaivilla Dev Shakti, 49 Tilak Road, Navyug Colony, Santacruz West, Mumbai, 400054, Maharashtra, India

FAQs

From refinancing to reducing your interest, we have the answers right here.

Can I switch to a floating rate from a fixed rate during my loan tenor?

Anytime during the loan tenure, an applicant will be able to convert the fixed-rate loans to the floating rate loan or vice-versa by paying a smaller fee. No prepayment penalties are there at the rate of the floating loan.

Is Opting For A Personal Loan Worth It?

If you have a steady income & a decent credit score, obtaining a personal loan is indeed an excellent choice since you will be given a cheap interest rate. On the contrary, if you have an unsteady income and a bad credit score, you would be given a higher rate of interest.

When Does The Personal Loan Repayment Period Start?

Personal loans get used to fulfill the short-term financial deficits. However, the personal loan comes with an interest rate, and the repayment tenure of Paysense is usually between 3 and 60 months.

Can I reduce my Personal Loan tenure in case of a rate hike?

Yes, one can reduce the personal loan EMI by using different ways. Less EMI amounts decrease overall interest outgo. But that’s only true when you aren’t increasing the tenure for decreasing the installment amount.

What Is The Minimum Salary For A Personal Loan?

The minimum salary for the personal loan availed by Paysense is Rs. 12,000.

Does Paysense Provide a personal loan at the best rate?

Yes, the Paysense personal loan offers loans with 1.4% to 2.3% of an interest rate for every month.

What are the benefits {Bank Name} Provides on a personal loan?

Given below are the benefits of a Paysense personal loan.

  • Low-Interest Rates
  • Flexible tenures
  • Easy EMI repayment
  • Instant Processing
  • Minimal Documentation; And
  • Quick Disbursal

What are the documents required in Paysense for a personal Loan?

Here are the documents required for getting a personal loan from Paysense.

  • The form with the passport size photo
  • Aadhaar card
  • PAN card
  • Voter card
  • Address proof: Post-paid bills
  • Income proof, i.e., the last three months of the Bank statements 
  • Other documents only when the bank asks

What is the interest rate of a personal Loan in Paysense?

The Paysense interest rate for personal loans ranges between 1.4% and 2.3%!

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