PaySense Personal Loan

PaySense Personal Loan interest rates range between 1.4% to 2.3% per month. The final interest rates offered to the loan applicant would vary according to the credit score, monthly income, job profile, employer’s profile, etc. of the loan applicant.

Instant Personal Loan 

It is an instant personal loan for salaried professionals and self-employed business owners to meet their financial obligations.

Personal Loan for Salaried 

It is an unsecured loan for salaried individuals to meet their financial needs related to wedding, home renovation, medical emergencies, family function, etc.

Personal Loan for Self-employed

It is a collateral-free loan for self-employed individuals to raise finances for business expansion and working capital requirements.

Personal Loan for Marriage

It is an unsecured loan for financing wedding-related expenses.

Personal Loan for Travel and Holidays

It is a loan for meeting the financial needs related to travel/tour expenses.

Personal Loan for Medical Emergencies

It is an unsecured loan for funding medical emergencies.

Personal Loan for Home Improvement

It is a collateral-free loan for financing home renovation/improvement.

Consumer Durable Loan

Paysense offers consumer durable loans in the form of personal loans for purchasing consumer durable goods such as mobile, camera, laptop, television, washing machine and fridge.

Other Personal Loans

Paysense claims its personal loans as an alternative to education loans, low interest loans, flexible loans, fast loans, private loans, low salary personal loans, easy loans, money loans and small loans.

In addition to the above-mentioned eligibility criteria, PaySense may also consider the credit score, occupation profile, employer’s profile, etc of its personal loan applicants, as used by many lenders for evaluating the personal loan eligibility of their applicants.

While Paysense has not set any minimum cut-off criteria for EMI/NMI (Net Monthly Income) ratio, most lenders require the total EMIs of their personal loan applicants, including the EMI of their proposed personal loan, to be within 50-60% of their net monthly income. Thus, those planning to avail personal loans should use Personal Loan EMI Calculator to find out the optimum EMIs and loan tenures for their personal loan based on their repayment capacity while ensuring that their total EMIs remain within 50% of their net monthly income.