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At PaySense you get an instant personal loan from Rs. 5000 to Rs. 5 lakh to take care of all your personal needs and dreams. It is hassle-free and gets approved in minutes. The process is very quick and can be completed in the comfort of one’s home or office. Also, PaySense offers easy EMI options on a personal loan and with auto- debit features and regular reminders you don’t miss paying the loan back on time.
PaySense Personal Loan Eligibility Criteria
| Eligibility Criteria | Conditions |
| Citizenship | Must be an Indian citizen |
| Age | Must be aged between 21 years to 60 years |
| Employment | Must be either a self-employed or salaried person |
| Minimum Wage | If self-employed, earning must be above Rs. 15,000 per month. If salaried, earning must be above Rs. 12,000 per month. |
| Identity Proof | Must have Aadhaar Card, Voter ID Card and PAN Card. A bank account is necessary. |
PaySense Personal Loan EMI Calculator
To help potential personal loan customers decide whether they are eligible to get a loan from PaySense, one can take the help of the Paisabazaar’s Personal Loan Eligibility Calculator, which will require a few basic details from you and will let you know about the eligibility just after performing a few simple steps.
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
Personal Loan at Attractive Interest Rates Apply Now
Factors Affecting PaySense Personal Loan Eligibility
- Minimum wage: PaySense requires a salaried person to have a minimum wage of Rs. 12,000 and for the self-employed person, it should be Rs. 15,000
- Work Experience: Banks prefer to check on work experience to know about a personal’s stability. Longer the experience, the greater is the chance of loan approval
- Location: Usually, the location of your residence significantly affects your loan application. This decides the minimum salary required for you to be eligible for receiving a personal loan. PaySense is available in limited cities and to avail a loan from PaySense, you should be residing in one of those cities
How to Improve Your PaySense Personal Loan Eligibility
- Clear all previous debts or at least a major part of it (both loans and credit cards) before applying a new one
- Keep professional life steady and don’t switch your hob after every 6-8 months
- Include a spouse’s income in IT returns
- Submit all the required documents
FAQs
Q. Are there any hidden charges for loan disbursal?
Ans. There are no hidden charges. All charges like interest rates, EMIs, loan amounts, processing fees and penalties are mentioned in the loan agreements.
Q. What is the interest rate of PaySense Personal Loan?
Ans. The interest rates range from 1.4% to 2.3% per month on the total amount.
Q. What is the processing fee?
Ans. The processing fee varies according to the amount. But it costs upto 2.5% on the amount on which the loan is taken.
Q. Can EMI dates be rescheduled? How much is the late fee?
Ans. Unfortunately, EMI dates can’t be rescheduled. The late fee is Rs. 500 plus GST.
Q. Can I foreclose my loan? How much is the foreclosure charge?
Ans. Yes, you can foreclose your loan but only after you have paid three EMIs. It is 4% on the remaining amount left after three EMIs.