| 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 Eligibility
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Step 1: Enter your mobile number in the application form
Step 2: Provide your personal details
Step 3: Enter OTP to verify your mobile number
Step 4: Select the loan purpose and loan amount
Step 5: Compare offers and apply for the best-suited loan
PaySense Personal Loan Eligibility Criteria
Factors Affecting PaySense Personal Loan Eligibility
How to Improve Your PaySense Personal Loan Eligibility
How Can I Apply for a Personal Loan Online?
Get up to ₹40 Lakh in 5 Simple Steps
Step 1: Enter your mobile number in the application form
Step 2: Provide your personal details
Step 3: Enter OTP to verify your mobile number
Step 4: Select the loan purpose and loan amount
Step 5: Compare offers and apply for the best-suited loan
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Personal Loan Articles
View All ArticlesPaisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners.
The APR (Annual Percentage Rate) of a personal loan is its annualised cost of borrowing, which includes the interest rate as well as the processing fees, documentation fees and other fees charged during the loan origination. The APR is expressed in the form of a percentage and thus, allows personal loan applicants to detect personal loan schemes offered at lower interest rates but with higher processing fees and/or other charges.
The APR of personal loans usually ranges between 11.29% to 35%. For example, assume that you have availed a personal loan of Rs. 5 lakhs @ 10.50% p.a. with a repayment tenure of 5 years. The processing fee charged for this loan is 1.5% of the loan amount, which amounts to Rs 7,500. Therefore, the total borrowing cost of your personal loan will be Rs 1,52,317 and its APR will be 11.16%.
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