Advance Salary Loan
A Loan for Unexpected Month End Expenses
Get an Advance Salary Loan of upto Rs.5 Lakhs
Do you think a personal loan needs too much effort ?
Getting a personal loan was never this easy
It just takes three simple steps to get an instant personal loan online!
Things to Know
Now get a loan on your own terms with our flexible EMI options and take control of what & when you pay
Over 2,56,664 loans disbursed-happy customers
With a continously growing community of happy customers we are disbursing more loans every minute.
- I was really in need of money and you guys saved me. I cant thank you guys enough.. excellent app awesome customer care..I am surely gonna recommend this app to my friends as well.
- My experience with paysense has been a seemless and a good one. Paysense helped a lot in clearing of my bills and at an affordable rate which i can manage per month. I would highly recommend this to my friends. Happy Paysensing 😁
- Excellent Service. Better than Banks ...easy documenation and less paper works and team also very supportive. I would suggest go for this app instead of any banks for loans
- This is my 1st ever app review and Paysense has earned it. They kept their word and within 5 hrs of my application I got my loan amount on my account. This was crazy, no hassle at all. Working at office and getting the loan done was like a magic
- I want to say you many many thanks to your app and your team. You are best loan provider and I wanna be your long time user/customer. Your customer support is awesome and loan process is excellent.
Disbursed till date
Available in 180+ cities
Frequently asked Questions
Now get a loan on your own terms with our flexible EMI options and take control of what & when you pay
What is an advance salary loan?
How can I apply for an advance salary loan?
Are there any limits on how I may use the money from the advance salary loan?
Are there any penalties for repaying an advance salary loan late?
What is the tenure of an advance salary loan?
What exactly is the distinction between a salary advance and a loan?
How much of a loan can I receive based on my income?
Where can I get a salary advance?
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?
- PAN Card
- Net banking login information
How do I apply for a PaySense personal loan?
- Download the application.
- Check your eligibility.
- Upload a few documents.
- Get money in your account.
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?
- You are sent reminders and notifications
- Your credit score is negatively affected
- A late payment charge is applied
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?
What Is An Advance Salary Loan?
Advance salary loan or salary advance loan are short-term loans for which interest rates are computed on a monthly basis unlike personal loans. The interest rate can even be computed weekly or daily by certain lenders. A salary advance loan is available in India for salaried professionals.
The repayment conditions on salary advance loans are extremely favourable for borrowers. The loans can assist you in the time of need. Advance salary loans can be used in emergency situations when no other choices are available.
Why Should You Opt For Advance Salary Loan?
Below are the reasons why you should opt for salary advance loans
- Paperless documentation helps you get a quick salary advance loan. Loan approval is completed within a couple of hours.
- PaySense is a salary advance app that allows you to manage your advance loan and check crucial facts like interest rate, EMIs, and payback duration from anywhere with the touch of a button.
- You can use the app to determine the desired EMI on salary advance loans. The EMI calculation is based on the loan amount, interest rate, and tenure.
- When your salary is depleted, an advance salary loan can be a lifesaver. Applying for an advance salary loan online is even better because it eliminates the need to visit a branch for formalities. A pay advance allows you to arrange your budget for the rest of the month. As a result, applying for advance salary loans online using applications like PaySense is a fantastic option
When Should You Take Advance Salary Loan?
Though you normally budget your monthly spending based on the amount and time your paycheck is credited, there are some expenses that aren't usually expected and hence don't fit into your budget.
Such expenses are known as contingent expenses, and you'll only need money for them if you have a need for them. The salary advance loan is what you'll need to cover such charges if your budget is being stretched too thin.
For What Purposes Can Advance Salary Loan Be Taken?
- Rent a house:You can rent a nice apartment or house that you wish to rent or put down a deposit to reserve it using the money from the loan. It's possible that someone else puts down a deposit before you. So, if you don't have the money in case your monthly income hasn't arrived yet, an advance salary loan might help in these situations.
- Expenses for a child's education:You can't put off your child's education fees because those huge tasks come up with time. Fees are something you've budgeted for, but unexpected expenses can add up quickly, necessitating the use of an advance salary loan.
- Car repairsCar repairs frequently occur without warning and cannot wait until your next paycheck arrives. An advance salary loan can assist you in repairing your car and getting it back on the road, allowing you to avoid becoming stranded.
Important Factors To Consider While Getting Advance Salary Loan
- Do you qualify for a loan: Most of the time, the qualifying conditions are for those who make a certain amount of money each month. This implies that only people who work for a living are eligible for this loan.
- What proportion of your salary do you need: Unless you request for a certain percentage of your salary, a salary advance loan cannot provide you with your entire salary as a loan. Before applying for a loan, be sure you know the exact amount you need.
- How much you will have to pay in return: It's usually a good idea to double-check this because some interest rates are ridiculous. Always choose a loan with a low interest rate.
Features And Benefits Of Advance Salary Loan
- Lesser loan tenure: Salary advances are usually taken for a few months and do not last for years, thus not putting a repayment burden on the borrower.
- Instant loan: The salary advance loan amount is credited into your account within a few days.
- Quick loan approval: Advance salary loan approval is rapid and requires little paperwork. Whereas a long-term loan with a bigger amount requires more creditworthiness and asset verification.
- Individuals with work experience find it simple: Salaried and self-employed people have an edge over freshers and job searchers when it comes to obtaining a salary advance loan.
- Minimal pre-closure fees: Depending on your lender, you may be able to close your loan early for little penalty.
Reasons Why You Should Take Advance Salary Loan From PaySense
Below are the reasons showing why you must take an advance salary loan from PaySense:
- Time-saving procedure: Because it is an online process, you can complete the application online on the PaySense salary advance app. The entire process takes only a few days, including loan approval and funding. The money is credited to your bank account in a matter of days.
- Flexibility: The salary advance loan app allows you to spend your money however you want without having to justify yourself to anyone.
- Minimal paperwork: Can you afford to have your important documents mishandled? Advance salary loans are advantageous since they do not necessitate any documentation.
- Interest rates at a minimum: Salary advance loans offer a lower rate of interest. As a result, repaying the debt in a reasonable amount of time is feasible.
How To Apply For Advance Salary Loan On PaySense
- On your phone, download the PaySense salary advance app.
- Log into the salary advance loan app and check your loan eligibility.
- Upload your photo as well as your documents.
- Sign both the NACH form and the loan agreement.