PaySense Personal Loan Review, Eligibility, Interest Rate, Process

In this blog, I will give you detailed information about PaySense Loan, How to take a PaySense loan, PaySense Loan Review, PaySense Loan Eligibility, PaySense Personal loan Interest Rate, PaySense Customer Care Number, Paysense Login, Tenure, Features, How to Download, Install, and more information.

If you are planning to take an Instant Personal Loan from PaySense App then please read this blog till the end as it will give you complete information about PaySense Loan. If any of your family members or friends are looking for or planning to take a personal loan, then please share this blog with them.

What is PaySense Loan? What is PaySense App?

First, we will understand about PaySense Loan App. So, PaySense is an application that provides Instant personal loans up to rupees 5 lacs to salaried and self-employed professionals at very  Attractive rates, zero collaterals, and Flexible EMIs.

Paysense app has partnered with India’s leading NBFCs like Credit Saison India, SMFG Credit, PayUFinance, and IDFC First Bank. Founded in 2015 Paysense is a venture-backed Financial Service startup based in Mumbai and provides loans to over 180+ cities and 4000+ pin codes.

PaySense Loan Details

App Name	PaySense: Personal Loan App
Loan Type	Online Instant Personal Loan
Where to Apply	Google Play Store – PaySense App.Official Website – www.gopaysense.com
Who can Apply	Salaried, Self-employed, Small Businessman
Age Limit	21 years to 60 years
Loan Amount	र 5000 to र 5,00,000
Tenure	3 months to 4 years
Interest Rate	14% to 36% per annum
Processing fee	2.5% of loan amount
Foreclosure Charges	4% on Balance principal amount+ 18% GST
Late Payment Charges	₹500 +18% GST (₹590). On every delayed EMI
App Rating	4.3
App Reviews	2.04L Reviews
App Downloads	1 crore+
Approx. per Lac EMI	रु 2432

What is PaySense Loan Eligibility?

PaySense Personal Loan Eligibility Criteria.

● You must be a resident of India.

● Your age must be between 21 and 60 years.

● Your net monthly take-home salary should be more than ₹18,000 for Mumbai and   Delhi-based users.

● Your net monthly take-home salary should be more than ₹15,000 for other locations.

● You must be based in any one of the 180+ cities or 4000+ Pin codes in India.

Also Read – Navi Personal Loan App Review

How to take a loan from PaySense App? PaySense App Download, Install, and PaySense Login – Step By Step 

Step 1 – PaySense App Download

Go to Google Play Store and Search PaySense Personal Loan App. Then Download and install the App.

Step 2 – Once you open the app, you will be asked to select the language and click on “Get Started” and allow to grant permission.

Step 3 – PaySense Account

Now click on Create Your Account

Step 4 – PaySense Login

PaySense App will ask for your general details like

1. Name – Fill your name exactly as it is on your PAN card.
2. Date of Birth
3. Gender – Male or Female
4. Mobile Number – If possible, Use the number that is linked with the Aadhar card.
5. Email Id
6. Employment Type – you can select according to your profession like Salaried or Self-Employed.
7. Monthly Income – If you are salaried enter your net monthly salary and if you are Self-Employed enter your monthly income.
8. PAN Card Number
9. Address – Enter your current address.
10.  Now click on Save & Continue.

Step 5 – OTP verification

You will receive an OTP on your mobile number, Please enter and verify.

Step 6 – Paysense Documents

If you are eligible for a PaySense personal loan it will show you how much loan you are eligible for, then the PaySense App will ask you to upload documents like PAN Card, Aadhar Card, Address Proof, and Bank Account Details. You can upload these documents and complete the KYC.

But, if the PaySense app shows that you are not eligible for a PaySense Personal Loan, this means your application is rejected and you will be able to reapply after 2 months for a PaySense Loan.

Step 7 – PaySense Loan Amount

You are eligible for a PaySense Personal loan and now you can select the loan amount and tenure and the PaySense personal loan amount will be transferred to your bank account directly.

Please Note – Before selecting the loan amount please also check the interest rate and then you can finalize the loan amount.

What are PaySense Personal Loan Interest Rate, Processing Fees, and other charges (if any)?

Before you take any kind of loan from any bank or NBFC, it is imperative that you be aware of the different charges that will be levied on you for taking a loan.

In this case, you are reading about PaySense Personal Loan, so here are the different charges in the below table.

PaySense Personal Loan Interest Rate	Min. 14% to Max. 36% per annum
PaySense Loan Processing Fees	2.5% of the Principal amount+ 18% GST
EMI Bounce charges   or Late payment charges	₹500 +18% GST (₹590) on every non-payment of EMI or Late Payment

PaySense Personal Loan Example – Representative Example

PaySense Loan Amount	₹1,00,000
Tenure	24 months
PaySense Personal Loan Interest Rate (APR)	24%
Processing Fees @ 2.5%	₹2500
EMI	₹5391
Total Repayment – (24 x ₹5391)+2500	₹1,29,384 +₹2500 = ₹1,31,884
Total Interest and Charges	₹31,884

How much loan can you avail of from the PaySense Personal Loan App and Tenure?

Depending upon your monthly salary or income and your CIBIL credit score, the PaySense App will decide on the PaySense Loan Eligibility.

You can avail of a loan from PaySense App for a minimum of ₹5000 to a maximum of ₹5,00,000 for a tenure of a minimum of 3 months and a maximum of 5 years (60 months) at attractive interest rates, Zero Collaterals, and Flexible EMIs.

What are the documents required to avail PaySense Loan?

These are some of the mandatory documents required to take a loan from the PaySense Loan App.

PAN Card	For Name and Date of Birth
Aadhar Card or Rent agreement or Electricity Bill	For Address proof
Bank Statement	For Income Proof
Salary Slip	If Salaried, Income Proof
Selfie	For Photo Verification

What are PaySense Personal Loan Features and Benefits?

There are very few personal loan apps that are as efficient as PaySense Personal Loan App and the striking features and benefits are

• PaySense Personal loan is also available to those with low credit scores.
• You can apply within a few minutes to get a PaySense loan.
• You can apply online on the PaySense app and documentation is completely paperless.
• EMIs are convenient and affordable.
• Interest rates are very affordable.
• You don’t need any collateral to avail a PaySense personal loan.
• Instant personal loan up to 5 lacs.
• Available in more than 180 cities and more than 4000 pin codes across India.

What is the PaySense Customer Care Number?

If you have any query or issue regarding your PaySense loan, you can report your issue through Email at support@gopaysense.com. The PaySense Customer Service team will get back to you immediately, once they get your request. 

PaySense Customer Care Email id support@gopaysense.com.

Please note that PaySense does not have a customer care/customer service number and it is a request not to trust any numbers claiming to be PaySense Customer Care Number.

PaySense Website –

https://www.gopaysense.com

PaySense Office Address – 

Jaivilla Dev Shakti, 49 Tilak Road, Navyug Colony, Santacruz West, Mumbai, 400054, 

Maharashtra, India.

Also Read – Navi Personal Loan App Review

Where can you use PaySense Loan?

• Personal Loan for Marriage / Weddings
• Personal Loan for New / Used Car and Two-Wheeler
• Personal Loan for Education
• Personal Loan for Medical Emergencies
• Personal Loan for Consumer Durables
• Personal Loan for Credit Card Bills
• Personal Loan for Home Renovation
• Personal Loan for Travel

Frequently Asked Questions (FAQs)

Q1. Will PaySense Instant Personal Loan affect my credit score?

Ans. Yes, it works like any other personal loan. If you pay your EMIs on or before the due date PaySense loan can help you increase your credit score. But if you don’t pay your personal loan EMIs on time, then not only you will have to pay late payment charges but your CIBIL score will also be affected.

Q2. Is PaySense Safe? 

Ans. PaySense Security and Privacy Policy. 

“PaySense personal loan app ensures safety via standard security and privacy standards to protect its database. Our app is safe and secure and we do not share customer information with third parties without consent.”

PaySense has been identified among the Top 100 Fintech innovators in the world by a KPMG and H2 Ventures report.

Q3. How much loan can I take with the PaySense App? 

Ans. You can take a personal loan of a minimum of ₹ 5000 to a Maximum of ₹ 5,00,000 depending upon your monthly income from the PaySense Loan App.

Q4. How to contact PaySense Customer Care Number?

Ans. As PaySense does not have a Customer Care Number, you will have to contact the PaySense app via Email at – support@gopaysense.com.

PaySense Website –

https://www.gopaysense.com

PaySense Office Address – 

Office – Jaivilla Dev Shakti

49 Tilak Road, Navyug Colony,

Santacruz West, Mumbai, 400054

Maharashtra, India

Q5. How to foreclose a PaySense Loan? PaySense Loan Foreclosure.

Ans. If you want to foreclose the PaySense loan, please note that only after paying 6 months’ EMIs you can foreclose the loan. You can contact PaySense Customer Care via Email at  support@gopaysense.com and send a foreclosure request between the 10th and 20th of the month.

Q6. What is PaySense Loan Disbursal Time?

Ans. After your loan is approved and you sign a loan agreement the loan amount will be deposited in your bank account after verification of your details submitted to you and you will be informed about your loan disbursal via SMS, Email, and PaySense Loan App.

Q7. What happens if I don’t pay PaySense Loan?

Ans. If you don’t pay your PaySense Personal Loan then the first thing is that you will be charged late payment charges also your CIBIL credit score will be affected and you will be marked as a defaulter. If your Credit score is affected then in the future you may not get any kind of loan from any financial Institution. Payment recovery guys will keep you calling at random and disturb you and also might visit your residence.

Q8. How do I pay EMI for a PaySense Personal Loan?

Ans. You can pay via the “Pay Now” button on the PaySense Loan app through UPI, Debit card, or net banking. You can also visit PaySense’s official site at www.gopaysense.com/pay and pay your EMIs via debit card or net banking. You will be charged an extra payment gateway fee for using the PAYU payment gateway.