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PaySense gives personal loans for loan amounts starting from Rs. 5000 to Rs. 5 Lakhs and at interest rates of 1.4% to 2.3%. PaySense gives instant personal loans to salaried and self-employed business owners and offers flexible EMIs and tenures ranging from 3 to 60 months. PaySense follows the method of paperless documentation where the borrowers can upload their KYC documents and sign their loan application digitally. You can get personal loans from PaySense even if you do not have any credit history, that is even if you have never availed any loan or credit card in the past.
What Is The Eligibility Criteria For A PaySense Personal Loan?
The eligibility criteria for a PaySense Instant personal loan are as follows:
- The borrowers must be residents of India.
- The minimum age should be between 21 and the maximum age should be 60 years
- The person can either be salaried or self-employed.
- The minimum monthly income is Rs. 18000 for the salaried and Rs. 20,000 for the self-employed.
What are the documents required for a PaySense personal loan?
The documents required for a PaySense personal loan are:
- Identity proof documents - PAN card and selfie
- Address proof documents - Aadhar card, voter ID, passport or driver’s license.
- Income proof documents - net banking or bank estatements of the last 3 months.
What Is The Process of Getting The Loan From PaySense?
You can get a loan from PaySense through a simple process.
Step 1: Firstly, download the PaySense mobile app on your mobile phone. Alternatively, you can visit their website - gopaysense.com and download the app.
Step 2: Enter the details required as instructed by the app to know the eligibility for the line of credit. A credit line is the total amount of loan you can obtain from PaySense.
Step 3: The process of documentation is paperless and you will be asked to upload the documents online.
Step 4: Post uploading of all the documents, you will get an approval instantly.
Step 5: On approval of the loan amount, you will get a message on your mobile device and the necessary funds will be disbursed to your respective bank account.