Paysense Personal Loan

The financial services startup PaySense was established in 2015. Its headquarters were in Mumbai. They specialize in using cutting-edge data sciences to extend credit to their clients without the inconvenience of drawn-out application procedures, protracted wait times, and a mountain of paperwork. They want to improve the simplicity, accessibility, and transparency of their clients' financial transactions.

PaySense offers fast personal loans to its customers in order to assist them in meeting their demands, which might include—but are not limited to—taking an unexpected trip, remodeling the house, purchasing new furniture, covering a medical bill, organizing a wedding, or maintaining a car. They offer loans ranging from Rs. 5,000 to Rs. 2 lakhs. They provide consumers with speedy approvals and disbursements. The shortest tenure is three months, and the longest is two years.

Feature of PaySense Personal Loan 

Following are the feature of PatSense Personal Loan : 

Variable end use

PaySense loans are multipurpose loans, which means they can be used for a variety of things, including but not limited to arranging a wedding, paying for a medical bill, doing home renovations, buying new furniture, and servicing automobiles.

Total borrowed

PaySense provides personal loans starting at just Rs. 5,000 and going up to Rs. 2 lakh. Customers are given the option to customize the loan amount to suit their needs.

Finance charges

PaySense personal loan interest rates range from 1.4% to 2.3% monthly . For the consumer, this makes EMIs simple.

No security is necessary.

PaySense offers unsecured personal loans. This indicates that you are not required to offer any security in exchange for the loan amount.

Mobile programme

Installable on a smartphone, PaySense offers a user-friendly application. With this software on the phone, the entire loan process can be finished. For the customer, this results in a very quick and convenient process.

Not requiring a credit score

With PaySense, you can also apply for a loan even if you've never taken out a loan before and have no credit history.

Documentation is simple.

It is not necessary to have any actual documents. The loan can be approved with just a few simple documents uploaded in the required format.

Rapid approval and payment

With PaySense, the consumer can take advantage of swift loan approvals and swiftly receive money into his or her bank account.

Eligibility Criteria for PaySense Personal Loan 

Check to see if you qualify for the loan before using the Paysense App and applying for one. Before you may apply for a Personal Loan, you must meet the PaySense Personal Loan eligibility.

• A minimum age of 21 is required for the applicant.

• The applicant must be under 60 years of age.

• If you are employed, you must make a minimum of INR 12000 per month.

• A minimum monthly revenue of INR 15000 is required if you work for yourself.

• You need to be an Indian national.

• You must be in possession of a live internet banking account.