PaySense Personal Loan helps to arrange the funds
Struggle with earning good amount of money never ends. Sometimes people are not able to fulfil their desires with the limited income they have that is the point when mostly people prefer to apply for personal loans because it helps them to meet their shortage of cash during festivals, celebrations, important family milestones, medical emergencies, and making an expensive purchase. One can choose the PaySense personal loan app to get the loan and make it a popular choice.
Features of Instant Personal Loan from PaySense app
- One can easily avail of the loan amounts starting from Rs. 5,000 to Rs. 5 lakh.
- PaySense personal loan offers at low or no credit history.
- The required documents are collected from your doorstep.
- When you apply for subsequent loans, it is not required for any documentation.
- It offers easy to manage EMI plans that come with payment reminders and auto-debit features.
- The loan approvals and disbursals are quick.
Benefits of using PaySense Personal Loan EMI Calculator
- PaySense personal loan is available online and easily available from anywhere.
- This application allows the user to choose different loan amounts, tenures, and interest rates and check the EMI so that you can check which combination fits accurately as per the user’s repayment capacity.
- It saves your time for lengthy manual calculations and lets you know about it in a few seconds.
Eligibility Criteria for PaySense Instant Personal Loan
- One should be a resident of India.
- One should be aged between 21 years and 60 years.
- One should be salaried and the net monthly income should be a minimum of Rs. 12,000.
- One should be self-employed and the net monthly income should be a minimum of Rs. 15,000.
Documents required to avail PaySense Instant Personal Loan
- Identity proof: You must have an Aadhaar card, passport, PAN card.
- Address proof: You must have a rental agreement, Aadhaar card, passport, utility, or postpaid bills.
- Income proof: you must have 3 months bank statements
- You must have 3 months’ bank statements.
- Passport size photograph.
How to avail PaySense Instant Personal Loan?
Availing PaySense instant personal loan app is simple, hassle-free, and involves just 3 steps. The steps are as follows:
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Check the eligibility and select the personal loan
PaySense app allows the user to get the loan amount by filling in a few basic details and eligible to apply for the loan. If you are applying for the same then, the amount must be 50% of your approved limit. Once you have decided the loan amount that you wish to avail yourself, you can surely decide with the loan tenure.
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Upload your KYC documents
To use the PaySense personal loan application, you will need to upload your KYC documents such as ID proof, address proof, etc. Afterwards, you must sign in NACH form loan agreement. That NACH form will enable your EMIs to be deducted from your bank account automatically. The entire process is paperless, once the documents upload is completed, you will get approval within 2 business hours.
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Receive money into your account
The loan being approved and the application process is completed, the loan amount will be transferred to your account instantly.
How to get a good credit score for a PaySense Personal Loan?
Because of the low credit score, the bank may reject the personal loan. The credit score is a 3 digit number on which banks and NBFCs evaluate the borrower’s capacity to pay the loan on time.
| Range | Grade |
| 0 or -1 | No credit history |
| 300-550 | Bad |
| 551- 649 | Poor |
| 650-699 | Fair |
| 700- 749 | Good |
| 750 and above | Excellent |
PaySense Personal Loan EMI Calculator
If you want to apply for a PaySense Personal Loan, the most ideal and convenient approach is to use the EMI Calculator. An EMI Calculator helps to ascertain the amount of loan that the borrower has to pay each month and plan for the expenses accordingly. Once you select the loan amount, tenure, and interest rate to know your EMIs. The EMI calculator and the rate of interest will help you to apply for a personal loan.
The table mentioned below will help you to get an idea about the EMI calculator:
| Loan amount | Rate of interest | Loan tenure | Amount of EMI |
| Rs. 76,000 | 11.5% | 12 months | Rs. 6,743 |
| Rs. 2,42,000 | 11.62% | 21 months | Rs. 12,761 |
| Rs. 3,79,000 | 11.75% | 30 months | Rs. 14,640 |
| Rs. 6,54,000 | 11.75% | 30 months | Rs. 23,288 |
| Rs. 9,57,000 | 11.87% | 37 months | Rs. 31,014 |
| Rs. 11,67,000 | 12% | 40 months | Rs. 35,815 |
Bottom line
Hope the above information will help you to apply for a PaySense personal loan. You can get a PaySense personal loan at the lowest interest rates in the market. The interest rate of this personal loan app starts from 18% to 36%. You can select the loan amount and tenure for the repayment of the loan. You can also apply for a loan from the PaySense personal loan app, even if you do not have a great credit score. However, it is recommended that you maintain a good credit score so that you can easily avail of a PaySense personal loan app at a low credit score.
