PaySense Loan App Review | How to Apply For PaySense Instant Personal Loan?

PaySense Instant Personal loan, How to Apply, PaySense loan Interest rate, fees & charges, documents required, Eligibility Criteria, Customer Care Details

Nobody knows what will happen in the future, we have to be ready for that. In case something urgent came up and you need money to fix that, you have banks, friends & family as a few options. what will happen if you did not get money from anywhere, no need t worry, PaySense is the one-stop for a personal loan.

Loan App NamePaySense
Loan AmountFrom Rs. 5000 to Rs. 5 Lakhs
Loan Tenure3 months to 60 months
Interest Rate16 % p.a to 36 % p.a
Processing Fee2.5 % of the loan amount + GST

PaySense Loan App

PaySense Loan app is the solution to your instant money requirement. It is a good loan app from where everyone can get a personal loan on required documents on time. PaySense instant personal loan can be used for various purposes, such as weddings, travel, medical emergency, home improvement, etc.

Types of PaySense Loan

It offers various types of loans as mentioned below.

  • Personal Loan
  • Vehicle Loan
  • Consumer Loan

Features & Benefit of PaySense Personal Loan App

  • PaySense offers instant personal loan from Rs. 5000 to Rs. 500000.
  • It provides loan repayment tenure from 3 months to 60 months.
  • Annual Percentage Rate (APR) on loans varies between 16% p.a to 36% p.a.
  • The processing fee is 2.5% of the loan amount + tax.
  • The loan approval and disbursal are quick.
  • PaySense provides its loan services in more than 50 cities across India.
  • The KYC and documentation process is quite simple. Doorstep collection of documents, just sign & hand over the required documents to the courier.
  • You can get the loan if you have a poor credit score or no credit score also.

Eligibility Criteria For PaySense Personal Loan

  • You must be resident of India.
  • Applicant age should be between 21 years to 60 years.
  • Salaried and self employed applicants are eligible.
  • Minimum monthly income of Rs. 12000 for the salaried and Rs. 15000 for the self employed must be fulfilled.
  • You must belong to the cities where PaySense service is available.

Documents Required For PaySense Personal Loan

  • Proof of Identity (PAN Card or Aadhaar Card)
  • Proof of Address (Aadhaar card, Rental agreement, Utility or Postpaid bills)
  • Proof of Income (Last 3 months bank Statements)
  • A Selfie

How to Apply a Loan from PaySense App Online?

  • Download and Install PaySense: Personal Loan App.
  • Launch the App, choose your language, click on Get Started , give the permission to the app by clicking on the button Okay Let’s Go and then on Allow.
  • Now, tap on Create your Account button.
  • On the next screen enter your name, Date of birth, email address, employment type, salary/Income, PAN number, current address, mobile number and click on the Submit button.
  • Agree for terms & conditions and click on the button Submit.
  • As per your entered details, you will see the loan offer amount details on the screen. choose the loan as per your requirement ,select EMI and click on Apply.
  • Now, you have to complete your KYC by uploading your documents. You also need to sign the loan agreement and a NACH form to enable auto-deduction of EMIs. Once you upload all required documents, you get an approval within 2 working hours.
  • Once your personal loan is approved and the application procedure is complete, the loan amount will be directly transferred to your linked bank account quickly.

How to Repay Your PaySense Personal Loan?

PaySense provides the facility to auto-debit the Loan EMI directly from your bank account. During loan application, you sign on the Auto debit form (NACH) which allows PaySense to deduct EMIs directly from your bank account. The form has to be approved by your bank before PaySense can deduct the money from your account.

In case your NACH form is rejected by the bank, you can pay the loan using a payment gateway or you can directly go to to see your due amount and make the payment. You can make the payment using a debit card or net banking. There will be an extra payment gateway charge for using gateway services by PayU.

PaySense Interest Rate, Fees & Charges

Fees and ChargesAmount Chargeable
Interest RateAnnual Percentage Rate (APR) between 16% p.a to 36% p.a
Loan Processing Charges2.5 % of the loan amount + GST
For closure charges4% +18% GST on the remaining principal amount.
Late Payment Charges₹500 +18% GST (₹590) upon failure to pay the EMI on the fixed date.

PaySense Pros & Cons

The loan application process is onlineThe interest rate is high
Paperless documentationforeclosure charge is there
Tenure is FlexiblePre-payment is allowed after 6 EMI payments.
Partnerships with NBFCs/Banks registered with RBIminimum monthly payment limit should match
Loans available for those with low credit scores
Pan India exposure (+60 cities)
No Collateral is needed

Is PaySense Safe and Legit?

Yes, It is the app on which you can trust and apply for a loan. PaySense has partnerships with NBFCs/Banks registered with RBI such as Credit Saison India, Fullerton, IIFL, and PayU Finance.

Moreover, It has disbursed over 1 lakh personal loans in the last 12 months. PaySense has been identified amongst the Top 100 Fintech innovators in the world by a KPMG and H2 Ventures report.

PaySense personal loan app ensures safety via standard security and privacy standards to protect its database. It does not share customer information with third parties without consent.

PaySense Customer Care Details

Contact TypeEmail/Phone/Address
PaySense Email
PaySense Official AddressJaivilla Dev Shakti
49 Tilak Road, Navyug Colony,
Santacruz West, Mumbai, 400054
Maharashtra, India


PaySense can be considered as a trusted loan app for a personal loan. make sure to use the loan app as the last option for getting a loan not the first.

It is in partnership with the NBFCs and banks registered with the RBI. do check all the hidden charges (if any) before applying for a loan from PaySense.

Read Also


1: What is the interest rate of the PaySense loan?

PaySense loan Annual Percentage Rate (APR) is between 16% to 36%.

2: How to get my PaySense loan statement?

The loan Statement is provided by a Paysense lending partner (IIFL). follow the steps below to get a loan statement.
a. Visit the link
b. Click on Forget/Generate Password
c. Fill up all the details then click on submit
d. You will receive an SMS with your Customer ID & OTP
e. Enter the OTP and reset the password of your choice
f. Enter the customer ID and enter the password which you have set
g. Download the loan statement

3: When I can apply again if my PaySense loan application is rejected?

you can wait and re-apply for a loan after 60 days.

4: What is NACH full form?

NACH stands for National Automated Clearinghouse. This is used to authorize to deduct of the EMIs for your loan directly from your account.

5: Does PaySense check the CIBIL score?

Yes, when you apply for a loan with PaySense, it will do a hard credit check and offer a competitive interest rate. this is a basic phenomenon for getting any personal loan from a lender.

6: How long PaySense take to approve the loan?

Once you have uploaded all the required documents and completed the application process, the PaySense team and its lending partners will verify the information provided by you. It takes up to 2 working hours for verifying and giving the loan approval. You will be updated via SMS or email. moreover, you can check the loan application status using PaySense Mobile App.

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