Interest Rate @16% pa – PaySense Instant Personal Loan

PaySense was founded in 2015 as a financial services startup. It is an application that provides instant loans, personal loans, marriage loans, travel loans, medical loans, home improvement loans, and much more.

PaySense is available in 180+ cities you can get a credit limit of Rs 5000 to Rs. 5,00,000 for interest rates between 16%-36% with a standard processing fee of 2.5%. The loan tenure ranges from 3 to 60 months and the interest rate applicable and EMIs depends on your loan tenure.

Why PaySense?

  • Instant approval: your loan is approved within minutes if you are eligible, loan ranges between Rs. 5000 to Rs. 5,00,000.
  • Convenient: Apply for the loan with few clicks and easy repayment options. No collateral security or guarantors are needed.
  • No credit history required: To avail loan from PaySense you don’t need any credit history or credit report.
  • Easy Documentation: You do not need to go anywhere to submit documentation papers, documents will be collected at your doorstep by the PaySense courier service.
  • One-time documentation: If you apply a second time for the loan no documentation or KYC process is required. 
  • 100% Secure: PaySense ensures 100% safety and privacy of your data and does not share your data with anyone without your permission. 
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How PaySense Work?

  1. Download the app PaySense from the google play store.
  2. Register the app and fill in the details required to check your eligibility.
  3. Complete the KYC process for approval.
  4. After loan approval, your and application process completion money will be transferred to your bank account.
  5. Set up a mandate to pay EMIs.

Eligibility Criteria

  • Resident of India 
  • Age minimum 21years, Maximum 60 years.
  • Employment Type: Salaried person and Self-employed
    • Salaried person minimum monthly salary- Rs.12,000
    • Self-employed minimum monthly income- Rs.15,000

Documents Required

  • Identity proof (Aadhar card/PAN card)
  • Address Proof(Voter card/Aadhar card/Passport/Utility bill)
  • Original Photo
  • Income Proof- last 3 months bank statements

Fee and Other Charges

  • The standard processing fee of 2.5% is charged.
  • Pre-payment is permitted after 3 EMI payments. The foreclosure fee is 4% +18% GST on the remaining loan amount.
  • The Late Payment Charges are Rs. 500 +18% GST (Rs. 590) . This applies when you don’t pay your EMIs on the due date. 
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Types of Loans PaySense provide

Marriage / Weddings loans, New / Used Car and Two-Wheeler loan, Education loan, Medical Emergencies loan, Consumer Durables loans, Credit Card Bills loans, Home Renovation loans, Travel loans. 

Contact Details


App Link- Download app

Official Website- PaySense

Currently,  PaySense does not connect over calls.

App Review

PaySense disbursed more than 1,00,000 personal loans in the last 12 months. This app is in service for 7 years, it has 5 million+ downloads with 1.2 million+ customers with 3.8 ratings on google play stores along with 81,788 reviews to date.


1). What are the PaySense interest rate?

PaySense interest rate ranges between 1.4% to 2.3% per month on personal loans. This means an Annual Percentage Rate ranges between 16% and 36% on a reducing balance basis.

2). Is PaySense registered with the Reserve bank of India(RBI)?

PaySense is linked with  NBFCs like Fullerton, IIFL, Credit Saison India, PayUFinance, IDFC First Bank, these are registered with RBI.

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3). How can I contact PaySense?

You can contact PaySense by email at or you can also contact them on Twitter at @gopaysense.

4). Sharing Bank details are safe with PaySense?

Yes, PaySense is 100% safe and bank details are important to verify your income through bank statements. 

5). How do I update/alter my contact details in my PaySense account?

To update your contact details you need to contact to PaySense customer care support i.e, You inform them about the changes, they will process your request as soon as possible.

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