Paysense loan app review: Instant personal loan up to ₹5 Lakhs

Paysense loan app review: Instant personal loan up to ₹5 Lakhs 1

Are u in India and caught up in a very tight position? Paysense loan app can ensure you get out of such position in no time.

We all get into spot where we need urgent needs for money. It could be to renew our space, medical fees, marriage expenses, improve business, start a new business idea, pay school fees or even upgrade our electronics.

Whatever the justification, there are several loan apps on the store to help out. But today, we will be concentrating on Paysense loan app.

Paysense loan is arguably one of the most used loan channels in India. The fintech company is focused on providing digital lending to customers in India.

The main objective of the company is to make a loan as easy as possible and at a very cheaper rate.

You might be asking why paysense loans? Paysense does not just own his own ground locally but also acclaimed as one of the top 100 loan providers in the world based on the KPMG and H2 reports.

Paysense is accessible in the Indian market and available to both self-employed and salaried workers. Approval can be gotten in less than 2 hours.

Meanwhile, 6 million+ users who have downloaded and installed paysense app can not be wrong. It says so much about how people hold the app dearly.

Taking a loan should not be something to be afraid of. Although, one still needs to be cautious when going for a loan. Never take a loan if you are not planning to pay back. Most importantly, never take more than what you can pay back.

Although, most fintech companies now have in place proper mechanisms to ensure that loan amount corresponds to the income of the borrower. Nevertheless, it is still on the borrower to adjust accordingly.

How to qualify for Paysense loans

To apply and get a paysense loan, you must fulfil certain conditions, they are:

  1. Applicants must reside in India and must also be either self-employed or salaried worker.
  2. Only those within the age bracket of 21 to 60 years are qualified to obtain paysense loan.
  3. A minimum monthly salary of 12,000 INR for salaried individual or Rs. 15,000 is all that required to get funds.
  4. Applicant must live in any of the 50+ cities that paysense serve.

Why you should choose Paysense

  1. Paysense is convenient and with affordable equated monthly instalments.
  2. Affordable interest rate and paperless documentation.
  3. Arrangement can be made to have needed documents picked right from your doorstep.
  4. Get a loan right from your mobile phone.
  5. It takes not more than 2 minutes to process your loan application.
  6. Paysense grants loan even without a credit history.
  7. Regular and automated updates.
    Collateral free loan is available for qualified individuals.

Locations where paysense loan is available

In the last few months, over 1 lakh personal loans have been shelled out and with more loans shaping to move out.

Paysense loan is available in several locations across india.
Among them are Coimbatore, Gandhinagar, Guntur, Mohali, Mumbai, Mysore, Nagpur, Nashik, Navi Mumbai, Nellore, Bhopal, Chandigarh, Chennai,Hyderabad, Indore, Jaipur, Jodhpur, Kolkata, Kota, Medak, Mehsana, Delhi-NCR, Ahmedabad, Anand, Bengaluru, and Bharuch.

It is believed that more opportunities could open up as the company continues to spread its tentacle in a bid to serve the good people of England.

Documents needed to get a loan from Paysense

  1. A passport photograph is needed to obtain a loan.
  2. A valid identity card (Voter ID card, Aadhaar card or Pan card)
    Bank statement of the past 3 months.
  3. Document verifying address (utility bill, Aadhaar card or rental agreement)

How does Paysense loan work?

The intention is clear and almost without ambiguity. The minimum loan any qualified individual can get is ₹5,000 while the maximum is ₹5 Lakhs.

The loan tenure is available for 3 months to 60 months and interest rates start at 13% per annum.

To get a loan from paysense, you are expected to visit the play store and get the paysense app. Upon installation and registration, you will incur a processing fee of 2.5% of the principal + GST. This fee will materialize after loan approval.

Another fee applicable on paysense is charge on the remaining principal amount which is expected to take place after three equated monthly instalments.

To avoid more charges, every borrower is expected to follow the repayment plan, that is paying at maturity as planned. Failure to do that may attract an additional fee of ₹500 + GST on a fixed date.

Reward program on Paysense loan

Paysense loan comes with a reward program that allows you to earn ₹500 while your friends earn ₹500 in Amazon Vouchers. This is accomplished by referring your friends to paysense.

The amazon voucher can be used to purchase any item from the amazon store and also shipped to your doorstep. There is no limit to how much people you can refer to the program, the more you refer, the more money you make.

Most importantly, everyone can be a winner on paysense.

Testimonies from around 

I was really in need of money and you guys saved me. I can’t thank you guys enough.. excellent app awesome customer care..I am surely gonna recommend this app to my friends as well.

Vinayak Salian, Mumbai

This is my 1st ever app review and Paysense has earned it. They kept their word and within 5 hrs of my application I got my loan amount on my account. This was crazy, no hassle at all. Working at office and getting the loan done was like a magic

Clement Rajesh, Mumbai

My experience with paysense has been a seamless and a good one. Paysense helped a lot in clearing of my bills and at an affordable rate which I can manage per month. I would highly recommend this to my friends. Happy Paysensing

Prateek Choudhary, Mumbai

I want to say you many many thanks to your app and your team. You are best loan provider and I wanna be your long time user/customer. Your customer support is awesome and loan process is excellent.

Alok Pandey, Mumbai

Excellent Service. Better than Banks …easy documentation and fewer paper works and team also very supportive. I would suggest going for this app instead of any banks for loans

Ranjan H S, Mumbai

How to apply for paysense loansPaysense

  1. It takes a few steps to apply for a loan. You can register on the website or download paysense loan apk to begin the process
  2. After filling basic details to check your eligibility and get a credit line. Choose the loan amount using the slider. It is advisable to go for 50% of your credit line.
  3. Select your loan repayment period, which is otherwise known as EMI plan.
  4. The next step is uploading your documents to complete your KYC. KYC means to know your customer.
    Only in special conditions, you will be asked to tender your document in person or hand over to courier service.
  5. Applicant will also need to sign the loan agreement and NACH form to allow auto-deduction of the loan.
  6. The waiting period is just less than 2 hours. Once the loan passes the approval stage, you should receive an alert in less than 2 minutes.

Paysense Contact details


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About the Author: Ayobami Ola

Hi there! My name is Ayobami and I am a writer. I provide quality reviews and more simplified information about products and services. I am your number one stop source for all you missed.

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