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PaySense gives personal loans at interest rates ranging from 1.4% to 2.3% per month for Rs 5,000 to Rs 5 Lakhs. PaySense offers instant personal loans to salaried and self-employed business owners at flexible EMIs and durations ranging from 3 to 60 months. Some of the main benefits of personal loans from PaySense are: paperless documentation and personal loans without credit history.
PaySense Personal Loan Interest Rates With Other Banks and NBFCs - A Comparison
|
Banks or NBFCs |
Interest Rates (per annum) |
|
PaySense |
1.4% – 2.3% per month |
|
Kotak Mahindra Bank |
10.75% onwards |
|
IndusInd Bank |
10.49% onwards |
|
IDFC First Bank |
10.49% – 23% |
|
Bajaj Finserv |
13.00% onwards |
|
Axis Bank |
10.25% onwards |
|
ICICI Bank |
10.50% onwards |
|
SBI |
9.80%-13.80% |
|
HDFC Bank |
10.50% – 21% |
|
Tata Capital |
10.99% onwards |
What Are The Factors That Affect The PaySense Instant Personal loan Rate of Interest?
Here are some of the factors that affect personal loan interest rates
Income:
income is a crucial factor that has an impact on personal loan interest rates. Having a steady source of income is an indicator that you will pay your EMIs on time. It will help you obtain better interest rates.
Repayment history:
Paying your EMIs on time and clearing all the outstanding amounts has a positive impact on the repayment track record. A good track record is a crucial factor for lenders to consider while providing a loan at low interest rates.
Relationship with the lender:
If you share a good relationship with your lender, you can get a loan at an affordable interest rate with least processing fee.
Apply for Other Short term Instant Personal loan through CreditMantri