Avail a loan amount ranging between Rs.5,000 to Rs.5 lakh with rates of interest ranging between 18.0% and 36.0% p.a. The repayment tenure is also flexible and will depend on the loan amount availed by you up to 5 years.
If you are just starting out in your job and is in need of a loan, you can avail one from PaySense as the NBFC allows you to apply for one even if you do not have a credit score. You can also apply for a loan from PaySense even if you do not have a great credit score. However, it is always recommended that you do maintain a good credit score so that you can avail a personal loan at a lower interest rate.
Paysense Instant Personal Loan Details
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
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:
- Check your eligibility and select a loan plan
- Upload your Know-Your-Customer documents
- Receive money in your account
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.
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.
Prior to your loan being approved and the application process being completed, the loan amount will be transferred to your account almost instantly.