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12 Month Loans

Borrow now. Pay it back over the next year.

Get 12 Month Loans up to ₹5 Lakhs

100% Safe & Secure
100% Safe & Secure
Instant Process
Instant Process
Get 12 Month Loans up to ₹5 Lakhs
Use the EMI Calculator to check plans

Loan Amount

Loan Term
EMI (per month)
Total interest
*The tenures shown here are indicative. Actual tenures may vary depending on your eligibility.
*The ROIs shown here are indicative
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Great app. It does what it says and can be of very help to get personal loans. It’s absolutely wonderful. Looking forward to have a long term association with you guys.
A famous quote goes, “A big part of financial freedom is having your heart and mind free from worrying about the what-ifs of life.” However, in the 21st-century, where everyone is a part of the rat race to make ends meet, it is imperative to keep a check on small or unexpected expenses as well. There could be a number of unforeseen expenses that can catch you off guard – an unexpected medical bill, buying a new car or a home, or purchasing expensive electronics. Since many people live paycheque to paycheque, not everyone is equipped to manage such expenses.Usually, people turn to their friends, relatives, or consider taking a loan. However, over the past few years, there has been an increasing trend of availing short-term loans like a 12 month loan to meet the unexpected intensive capital requirements. These unsecured personal loans are offered by several online lenders these days, and can be availed without any collateral or securities. Unlike other financial loans from traditional banks, instant 12 month loans do not look at the credit score of an individual to ascertain their creditworthiness. PaySense is one such immensely popular lender that offers instant 12 month personal loans to its customers in a simple and convenient process with minimal documentation.
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Do you think a personal loan needs too much effort ?

Getting a personal loan was never this easy

Instant personal loans
Instant personal loans
Get instant personal loans from ₹5000 to ₹5 lakh to fit all your needs and dreams
Quick Approvals & Disbursals
Quick Approvals & Disbursals
Get prompt loan approval and money in your account
Paperless Documentation
Paperless Documentation
Upload pictures of you KYC documents and sign your loan application digitally
Affordable EMI plans
Affordable EMI plans
Easy to manage EMI plans with reminders and auto-debit features so that you don’t miss out on timely payments
One-click subsequent personal loans
One-click subsequent personal loans
Need another loan from PaySense? With one-time documentation, it’s just a click away. No further checks required
Zero Credit History
Zero Credit History
Never taken a personal loan previously? It’s okay - we serve the users who are new to credit and lending system.

It just takes three simple steps to get an instant personal loan online!

Check eligibility and select a personal loan plan
Fill in a few basic details to check your eligibility for PaySense instant personal loans and get a Credit Line. A Credit Line is the total amount of loan you can get from PaySense. Once you get your Credit Line, you can choose the loan amount. Choose the best combination of loan duration and EMIs to select your loan plan.
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Upload KYC Documents
To get your personal loan approval, you have to upload a few documents to complete your KYC. You are also required to sign the loan agreement and a NACH form to enable auto-deduction of EMIs. NACH stands for National Automated Clearing House is a centralised web-based payment system, regulated and supervised by Reserve Bank of India (RBI) for bulk money transactions. NACH form ensures that you don’t miss on your EMI payments and impact your credit score negatively. The best part – the entire process is paperless. Once you upload all required documents, you get an approval within 2 working hours.
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Get your money
Once your personal loan is approved and the application procedure is complete, your money will be directly transferred to your account quickly. It is that easy to get instant personal loan with Gopaysense.
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Check eligibility and select a personal loan planUpload KYC DocumentsGet your money

Things to Know

Now get a loan on your own terms with our flexible EMI options and take control of what & when you pay

Eligibility Criteria options

Eligibility Criteria

Documents Required options

Documents Required

Credit Score options

Credit Score

EMI Calculator options

EMI Calculator

Over 2,56,664 loans disbursed-happy customers

With a continously growing community of happy customers we are disbursing more loans every minute.

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Frequently asked Questions

Now get a loan on your own terms with our flexible EMI options and take control of what & when you pay

General Questions
About PaySense
Loan Eligibility
Loan Application Process
Fees and Charges
Loan Repayment
User Security
Customer Support

Can I get a 12 month loan from PaySense if I'm paid my salary in cash or cheque?


Would I be required to submit my salary slip or ITR copy to PaySense?


Would you get in touch with my employer or organisation for any sort of verification?


Am I eligible for 12 month loan on my first month’s salary?


What if I need a short-term loan for a variety of personal purposes?


Where will the loan amount be credited?


What if I am unable to pay an EMI on-time?


Can I apply for a 12 month loan even if I have never taken a loan before?


Is it possible to take another loan before fully paying off the previous one?


I have more questions regarding the 12 month loan. What do I do?


What is PaySense?


Which banks and NBFCs have you partnered with?


Is taking a personal loan a good idea?


What is the maximum amount of personal loan I can get from PaySense?


What can I use my personal loan for?


How would PaySense personal loan impact my credit score?


Am I eligible for a PaySense personal loan?


I am self-employed. Will you give me a PaySense personal loan?


I have zero credit score. Will you give me a PaySense personal loan?


How do you decide my credit line?


I need a loan of higher amount than you approved. Can my credit line be changed?


What documents are required to get a PaySense personal loan?


How do I apply for a PaySense personal loan?


How much time would it take to complete my loan application once I have installed the app?


How much time would it take to get the loan approval once I have completed the loan application?


After uploading all the documents, why was my loan application rejected?


When can I get my money after loan approval?


Are there any hidden fees?


How much processing fees do you charge?


How much interest rate do you charge on personal loans?


Are there any extra charges on late payments?


What are loan foreclosure / pre-payment charges?


How can I pay back my loan?


What is a pre-EMI?


Can I reschedule my EMI date?


What happens if I miss my EMI on due date?


While paying my EMI, the amount was deducted from my bank account, but it’s not showing on the PaySense app. Where did my money go?


I want to close my loan earlier than the schedule loan tenure. What is the loan foreclosure process?


What happens if I don’t pay back?


My loan has been paid successfully. How do I get my No Objection Certificate (NOC)?


Is PaySense safe?


You ask for my internet banking details? How safe is it?


I had checked my credit line from PaySense earlier but uninstalled the app. Now that I need a loan, do I have to start a fresh application?


My loan application process is incomplete, but my phone got switched off. Do I have to start the application process again?


I am getting a “Signature not verified” error after e-signing a document. What do I do?


My netbanking access has been temporarily disabled. What do I do?


How do I update my contact details (mail ID, phone number, address) in my PaySense account?


How can I contact your team if I need any assistance?


When will you support iPhone and Windows phones?


Understanding just how popular 12 month personal loans are in India


Why Avail a 12 Month Personal Loan from PaySense?


Uses of a 12 Month Personal Loan from PaySense


Availing Unsecured 12 Month Personal Loans: Things to Remember

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12-month loans are small loans that can be taken out and repaid over a year. They are also called payday loans because the concept is that you take what you need till you are paid and then pay back the amount as soon as you get paid.

The 1-year loans are available without the need for any collateral and can be disbursed in as little as a few days. The small loans are designed to assist you with financial obligations such as bill payments, school fees, etc.

In India, there is no loan equivalent to a 12-month loan. However, there are a number of short-term loans that are similar to 1-year loans.

What Is a 12-Month Loan

A 12-month loan or a 1-year loan is an unsecured, short-term loan that can be paid back in a year. 12-month loans are common in western countries. This is a type of instant personal loan that is disbursed against your paycheck.

Importance Of 12-Month Loan

Below are the various advantages of taking out a 12-month loan:

It's a lot easy to obtain.

Small businesses and individuals with bad credit may be eligible for 12-month loans. The requirements for 12-month loans are significantly easier to meet, in part because they are normally for a little sum of money compared to the sums typically borrowed over a lengthy period of time.

The money comes in quickly.

A borrower's ability to repay a loan is unlikely to change drastically in a short period of time. 12-month loans are considered less risky than long-term loans due to their shorter maturity periods. As a result, the amount of time it takes a lender to release this type of loan is less.

Less personal loan interest is accrued.

Because 12-month loans must be returned quickly, they have lower overall interest payments. When compared to long-term loans, the amount of personal loan interest paid on 12-month loans is significantly lower.

How Does A 12-Month Loan Work

12-month loans are typically secured against your next paycheck. PaySense offers 12-month loans. You can avail the loan by downloading the PaySense personal loan app and completing your loan application process.

You must apply for a 12-month loan for your emergency financing needs. Also, you must only take out what you absolutely need.

Why Should You Opt For A 12-Month Loan

As opposed to long-term loans, 12-month loans have a lower ratio of cumulative interest paid to the borrowed amount. So, if your credit score is good and if you can afford a higher monthly EMI, a 12-month loan can help you save money on interest.

12-month loans are less expensive than long-term loans. As a result, its EMIs are easy on the pocket. When EMIs are paid on time, the credit score improves as well.

When Should You Take A 12-Month Loan

12-month loans should only be taken when you have an urgent financial need. Again, if you can make timely payments, the 1-year loan plan is one of the greatest strategies to fund your short-term expenses.

Important Factors To Consider While Getting 12-Month Loan

Below are some important factors to consider while getting 12-month loans:

Personal loan interest rate
The interest rate on your loan can significantly impact your financial situation. When the personal loan interest rate is high, the total interest expense over the loan term is substantially higher. As a result, you'll end up spending a lot more money to service your debt. So, make sure you get the best possible interest rate on your 12-month loan.

Check the additional fees
Additional fees like processing fees and foreclosure costs are included in the loan. Before making a decision on the loan, consider the various associated costs.

Check your credit score
Your credit score is crucial in determining your ability to obtain an instant personal loan. When applying for a personal loan, it is better when you have a credit score of 650 or above.

Calculate the EMI
The EMI plays an important role in your borrowing experience. It's the amount you'll have to pay back to repay the loan. Calculate your EMI using the personal loan EMI calculator on the PaySense website.

Features And Benefits Of 12-Month Loan

PaySense offers quick 12-month loans to help you meet your financial obligations. Some of the most important features and benefits of the PaySense 12-Month Loan are as follows:

  1. There is no need for you to have a credit history. PaySense does not demand a high credit score in order to obtain a loan.
  2. PaySense's simple user interface makes uploading documents a breeze. A variety of EMI plans available are both cost-effective and flexible.
  3. You can apply for subsequent loans with a single click. Once you've done business with PaySense, you'll find that getting your next loan using the app is significantly faster.
  4. Approvals and disbursements are accomplished within a reasonable amount of time. PaySense approves your loans in as little as two hours.
  5. Even if your credit history isn't ideal, 12-month loans can be obtained. This means that regardless of your credit position, you can get funded.
  6. Unlike car and home loans, you do not need to offer any collateral to secure this loan.
  7. The application process for these funding options is usually straightforward and painless.
  8. Because the funds from this plan are comparable to instant personal loans, they can be utilised to meet any type of short-term financial crisis without having to present any justification to the lenders.
  9. After your personal loan application is approved, the funds are transferred to your account within a short period.
  10. Repayment terms are flexible. Your personal loan EMI can be paid over a flexible time period of up to 5 years
  11. Individuals with low salaries are eligible for an instant personal loan of up to ₹5 lakhs.
  12. You are not required to pledge an asset in order to obtain the loan. You can acquire a loan even if you have no assets. If you have a modest income and no significant assets, a personal loan is an excellent choice.
  13. There are no hidden fees. You don't have to be concerned about any hidden fees or costs while applying for a 12-month loan on PaySense.

Reasons Why You Should Take 12-Month Loan From PaySense

Here are a few reasons why a 12-month loan from PaySense is a good idea:

  1. No end-of-term restrictions: The PaySense 12-Month Loan has no end-of-term restrictions. As a result, you have complete discretion over how you spend the borrowed funds.
  2. Fast process: You can apply for a 12-month loan without going to a bank because you can do it online. You won't have to wait days for the loan to be approved. The entire loan application process takes only a few minutes on the PaySense personal loan app.
  3. Competent interest rates: PaySense offers 12-month loans with personal loan interest rates cheaper than credit cards.
  4. Flexible repayment options: PaySense's flexible repayment options allow you to repay the money without breaking the bank.
  5. Only the bare minimum of documentation is required: You only need to provide a few documents to apply for a 12-month loan online on PaySense.

How To Apply For 12-Month Loan On PaySense

PaySense provides 12-month loans with APRs ranging from 16% to 36% for amounts ranging from ₹5,000 to ₹5 lakh. The duration of the loan may range from three to 60 months.

You can apply for a 12-month loan using the PaySense personal loan app as follows:

  1. Download the PaySense personal loan app to your smartphone.
  2. After logging in to the app, check your loan eligibility.
  3. Your Aadhar card, bank statement, and other KYC documents can be used to confirm your identification. Also, upload a photo of yourself.
  4. Sign both the NACH form and the loan contract.

The loan amount will be transferred into your account once your loan application has been accepted.

FAQs Section

1.What is the definition of a 12-month loan?

12-month loans are advances offered with a repayment window of one year.

2. What is the 12-month loan disbursement procedure?

12-month loans are disbursed directly into your bank account once the loan is approved. It can take a few days of time.

3.What is the procedure for obtaining a 12-month loan?

You can download and use the PaySense personal loan app to get a 12-month loan.

4.What are the requirements to avail 12-month loans?

To qualify for a 12-month loan from PaySense, you must be:

  • between the ages of 21 and 60
  • a paid or self-employed Indian citizen
  • an individual earning at least ₹20,000 if you live in a tier-1 city and at least ₹18,000 if you live in a non-metro city

5.What makes a personal loan different from a 12-month loan?

Personal loans have an interest rate in the range of 11% to 25%, while 12-month loans can have higher personal loan interest rates. Also, 12-month loans are best for your short-term financing needs while personal loans can be taken for long-term goals.

6.Is it possible to get a 12-month loan in India?

Traditional 12-month loans are not available in India. However, it is possible to avail a 12-month loan in India. Many private lenders like PaySense offer 12-month loans.

7. What are my options for repaying the loan?

You can repay your 12-month loan by choosing a loan term suitable to you.

8. Is it possible to foreclose on my personal loan?

Yes, you can foreclose your personal loan. However, you need to keep in mind certain terms and charges associated with foreclosure of the loan.