Carry your world with you
Get Instant Laptop Loan up to ₹5 Lakhs Easily
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
Are you eligible for a personal loan?
To be eligible to get a personal loan from PaySense, you should fulfil the following eligibility criteria
Which documents are required to get a personal loan?
To get a personal loan instantly, you should keep some documents handy before you start applying.
Proof of Identity
PAN Card or Aadhaar Card
Proof of Address
Aadhaar card, Rental agreement, Utility or Postpaid bills
Proof of Income
Last 3 months bank Statements
What is a good credit score required to get a personal loan?
Have you ever been to a bank for a personal loan and got rejected because your credit score was low? Yeah, we get you! Credit Score is a 3-digit number on which banks and NBFCs (Non Banking Financial Corporations, such as loan and insurance companies, co-operative banks, stock broking firms, etc.) evaluate your capacity to pay the loan on time.
Calculate your EMI
Now get a personal loan on your own terms with our flexible EMI options and take control of what & when you pay.
Over 1,20,000 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 60+ cities
and many more
Frequently asked Questions
Now get a loan on your own terms with our flexible EMI options and take control of what & when you pay
Will I have the freedom to buy a laptop of my choice?
Yes. You will have the freedom to choose any laptop of your liking and PaySense will have no say in how you choose to spend your loan amount or what laptop you can buy. You will not be required to furnish any invoices either.
Will I be the complete and rightful owner of my laptop
Yes. Your laptop will be under your complete and absolute ownership during and after the loan tenure.
What if I want to prepay my laptop loan?
We allow customers to prepay/foreclose a loan after three EMIs of the same have been successfully paid. Additionally, a 4% charge is levied on the remaining loan amount towards the foreclosure by PaySense.
Do I need to submit my payslip/income tax returns as proof of income?
No. PaySense only requires your bank account statement for the last three months as the proof of income in your laptop loan application.
Can I get a laptop loan if I get my salary in cash or cheque?
Yes. It doesn’t matter how you receive your salary. All individuals who earn a minimum of ₹12, 000 (salaried employees) or ₹15, 000 (self employed) each month are eligible for laptop loans from PaySense.
Will I be required to submit the bill of my laptop to PaySense?
No. You will not be required to submit the purchase invoice to PaySense and neither will PaySense pose any conditions on which laptop you can buy.
What if I need more capital to buy accessories like a laptop bag or a mouse?
We recommend that you repay your initial laptop loan on time and create a strong credit history with PaySense in order to avail more loans in the future.
I have never taken a loan before. Can I apply for a loan from PaySense?
Yes. Regardless of whether you have taken a loan before or not, PaySense offers loans to all salaried individuals who earn a minimum of ₹12,000 per month and to self-employed individuals who earn up to ₹15,000 per month.
Where will the loan amount be credited
The bank account that you link with the loan will receive the sanctioned loan amount. Furthermore, EMIs will also be deducted from this account.
Can I get the laptop loan amount in cash?
No. PaySense has no facility to extend cash loans and directly transfers the loan amount to the applicant’s bank account.
How do I get more information on loan loans?
Please contact our team at [email protected] for any further questions, doubts or clarifications.
What is PaySense?
PaySense is a web-based and android app, which gives short-term instant personal loans from ₹ 5,000 to ₹ 2 Lakh, for up to 2 years. Functional in over 50 cities in India, we have enabled dreams and responsibilities of over 10 lakh users.
Which banks and NBFCs have you partnered with?
Is taking a personal loan a good idea?
Yes. A limited salary should not limit your dreams or wishes. It should not discourage you from your responsibilities either. A personal loan is a helping hand, for the times you need that extra boost to your funds. It also helps you build and improve your Credit Score, so that you can avail higher loans later.
What is the maximum amount of personal loan I can get from PaySense?
PaySense gives loans of up to ₹5 lakh, starting from ₹ 5000, so that you can fulfil your dreams and responsibilities without stress. You can also request here if you need a higher loan amount, and we will reach out to you as soon as we can provide you the service.
What can I use my personal loan for?
Once the money is transferred to your account, you can use it as you like it. A few common uses include shopping for mobiles, gadgets and appliances; travelling; medical emergencies; and to pay off credit card bills.
How would PaySense personal loan impact my credit score?
Just as any other loan would. If you pay your EMIs on time, a PaySense personal loan can help you build and improve your credit score. However, if you delay or default, your credit score will decrease. The only difference – we would consider your loan application even if you don’t have a credit history.
Am I eligible for a PaySense personal loan?
To be eligible for a PaySense personal loan, you have to meet the following criteria –
I am self-employed. Will you give me a PaySense personal loan?
Yes. We love people who have the ability to follow their own dreams and be their own boss. And whenever possible, we serve them with an instant personal loan to give them the boost they need.
I have zero credit score. Will you give me a PaySense personal loan?
Yes. Most of the banks and NBFCs require a credit score of 750+ to approve your loan. However, we understand that everybody begins somewhere. And we would love to be that ‘somewhere’ where you begin building a good credit.
How do you decide my credit line?
Your credit line is decided on the basis of your profile, your income, your bank statement and other details you provide to us.
I need a loan of higher amount than you approved. Can my credit line be changed?
Once generated, a credit line cannot be changed instantly. However, credit line changes over time depending on your credit behaviour. If you pay your EMIs and bills on time, it can be increased. The minimum time for credit line reassessment is 3 months. We recommend taking a smaller loan to boost your funds and pay it back on time to get a higher loan the next time.
What documents are required to get a PaySense personal loan?
To get a PaySense personal loan, the following documents are required –
- PAN Card
- Net banking login information
How do I apply for a PaySense personal loan?
You can easily apply for a PaySense personal loan through following steps –
- 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?
If you keep all your documents ready before you install the PaySense app, it takes 5 minutes to complete the loan application.
How much time would it take to get the loan approval once I have completed the loan application?
Once you have uploaded all required documents and completed the loan application, our team and our lending partners verify the information provided by you through multiple checks. It takes up to 2 working hours to verify and give loan approval. You can check your loan application status within the app. You also get notified through mail and SMS regarding the status of your loan application.
After uploading all the documents, why was my loan application rejected?
As mentioned, our team and our lending partners run multiple checks to verify the information provided by you. In case of incomplete or wrong information, the application can get rejected.
When can I get my money after loan approval?
Once approved, our team and the lending partners work extra hard to get the money in your registered and verified bank account within 5 working days.
Are there any hidden fees?
No. There are no hidden fees and charges involved when you take a personal loan from PaySense. All the fees and charges like interest rates, loan processing fees, late payment charges and foreclosure charges are mentioned in the loan agreement.
How much processing fees do you charge?
We charge a processing fees of up to 2.5% of the loan amount. The standard GST is also applicable over the processing fees.
How much interest rate do you charge on personal loans?
We charge an interest rate of 1.4% - 2.3% per month, making it easier for you to afford your EMIs.
Are there any extra charges on late payments?
Yes. For late payments on EMI, you have to pay a flat rate of ₹ 500 + GST.
What are loan foreclosure / pre-payment charges?
A loan foreclosure can only be requested after successful payment of first 3 EMIs. You have to pay an additional 4% charge on the principal outstanding at the time of foreclosure.
How can I pay back my loan?
For the users with an active NACH status, the EMIs are auto-deducted. Other users get a customised link within their PaySense account, through which they can pay their EMI.
What is a pre-EMI?
A pre-EMI is the interest paid on the loan amount from the time of disbursement to the date of your first EMI.
Can I reschedule my EMI date?
Currently, the EMI due date is set at 3rd of each month. However, we are working towards a flexible EMI date and will update you soon.
What happens if I miss my EMI on due date?
If you miss your EMI payment on due date, these three things happen –
- You are sent reminders and notifications
- Your credit score is negatively affected
- A late payment charge is applied
If you fail to pay after reminders, a standard recovery process is initiated.
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?
Don’t worry. If the EMI amount has been deducted from your bank account, you can relax. The EMI payment status takes up to 3 working days to reflect in our system. However, if you feel that the payment has failed and need support, you can write to our customer support team at [email protected] with details of your registered account.
I want to close my loan earlier than the schedule loan tenure. What is the loan foreclosure process?
A loan foreclosure can only be requested after successful payment of first three EMIs. To initiate the foreclosure, you have to send a request to our customer support team at [email protected] with details of your registered account.
What happens if I don’t pay back?
If you don’t repay or delay your payments , it impacts your credit score negatively. This, in turn, impacts all your future loan applications negatively, whether through PaySense or any other provider. Also, if a user fails to pay after repeated reminders, our lending partners start the standard recovery procedures.
My loan has been paid successfully. How do I get my No Objection Certificate (NOC)?
To request an NOC, please write to our customer support team at[email protected]with details of your registered account.
Is PaySense safe?
Yes, indeed! Using PaySense app to get a personal loan is absolutely safe. Any sensitive and personal information is encrypted and kept safe through SSL protocol. We do not share your information with any marketing agency of third-party associates. Over 10 lakh users trust PaySense with their personal, sensitive and financial information.
You ask for my internet banking details? How safe is it?
You netbanking details are required to verify your income through your bank statements. Let us assure you, it is completely safe. We do not have access to your details – we do not store any information.
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?
Depends. Within 2 months of checking your credit line, you can log in and continue your loan application from where you had left.
However after 2 months, the credit line might get reassessed and you would need to fill in your details again to get a new credit line and proceed from there.
My loan application process is incomplete, but my phone got switched off. Do I have to start the application process again?
Don’t worry. Your loan application progress is saved in our app. Just log in to your PaySense account and resume from where you had left. For further assistance, you can write to our customer support team at[email protected]
I am getting a “Signature not verified” error after e-signing a document. What do I do?
Make sure that the signature you upload is made using black ink on a blank sheet. In case of a failed verification or a signature mismatch, contact our customer support team at [email protected], and our team members will help you complete your loan application.
My netbanking access has been temporarily disabled. What do I do?
If you are unable to access your netbanking account, please get in touch with your bank and resume your loan application once you can log in to your netbanking account again. Alternatively, you can write to our customer support team at [email protected], and our team members will help you complete your loan application. However, we cannot verify your bank account ownership without netbanking access and hence, we will be unable to provide instant disbursal of your loan amount.
How do I update my contact details (mail ID, phone number, address) in my PaySense account?
To update your contact details, contact our customer support team at [email protected] with the information you want to get updated and we will process your request at the earliest.
How can I contact your team if I need any assistance?
For any assistance, write to us at [email protected]with your registered E-mail ID, registered phone number and your query/request in detail. We insist on providing as many details in the e-mail since sensitive information related to your KYC details and money are involved.
When will you support iPhone and Windows phones?
We might support some of these phones and operating systems in future, but we do not have fixed launch dates for them yet.
Why an instant laptop loan is better than your credit card?
While credit cards have become all too common these days, it’s important to use them sparingly so that you can easily pay off the borrowed amount. Here’s why applying for an instant laptop loan is a better deal than using your credit card while buying a laptop:
No spending limit
Credit cards usually come with an upper limit which varies from card-to-card. This limits your freedom to choose while buying a laptop. Say that you want to buy a laptop that is worth ₹80, 000 but you card doesn’t allow it. On the other hand, once you have selected a laptop of your choice, you can borrow the amount in a loan which will be credited directly to your bank account, thus, helping you buy a device of your liking. In other words, you will not be bound by the limit of your credit card and can choose any laptop that suits your requirement.
Gone are the days when loans took weeks to get an approval. At PaySense, we have a simple and paperless application procedure that allows you to apply for a loan in just a few minutes. What’s more, we also offer instant same-day approvals to eligible applications within two working hours. That’s not all! The sanctioned loan amount is transferred to your bank account within 3-5 working days!
Most credit cards require you to repay the amount that you have borrowed at the end of month of within a stipulated time. However, online laptop loans usually offer the flexibility to repay the loan amount in affordable and low EMIs, and thus, give you the freedom to choose your own loan tenure. PaySense has a simple EMI calculator that can help you select the most-suitable EMI plan for your needs. Depending on your monthly expenses and financial arrangement, you can choose between a variety of EMI amounts and repay the loan over the next 3 to 60 months.
Fixed and affordable interest rates
In addition to charging a higher interest rate, credit cards also have high penalties and fees on missing any repayment amount. On the other hand, banks usually revise their interest rates regularly and that results in variable and unpredictable EMI amounts during the tenure. Online laptop loans can help you solve both these challenges as they allow you to repay the loan over extended time duration, thus making it comfortable to stick to the schedule and also offer fixed interest rates, which means that your EMIs stay consistent throughout the loan tenure.
Availing a Laptop Loan: Taking the Right Decisions
Borrow what you need
No matter if you are a first-time borrower or have taken a loan before, it is important to remember that you should always borrow an amount that you require. Depending on which laptop you decide to buy, you might require anything between ₹50,000 to ₹1,00,000, or even more. Now, even if you are eligible to borrow ₹1,50,000 from PaySense, borrow an amount that you actually need. In addition to helping you prevent unnecessary expenditure, this will also ensure that you are able to repay the loan amount comfortably without straining your other monthly expenses.
Balance the EMI amount with the Loan Tenure
Using the PaySense EMI calculator, you can easily view the different EMI plans that are available for you. Remember, a lower EMI amount will result in the loan tenure being spread over a longer period of time and you will end up paying more interest. On the other hand, higher EMIs will result in shorter loan tenure, and will be more beneficial for you. Thus, always balance the two components while deciding your EMI plan.
Calculate the benefits of foreclosure
You may get a windfall from an unexpected source and have enough capital to prematurely close your entire outstanding loan amount. To the layman it might make sense to prepay the loan if the funds are available, but, remember, prepayment or foreclosure of loan with PaySense, will attract an additional 4% charge on the remaining amount. Thus, if your remaining loan amount is low and a few EMIs are left, it might not be financially prudent decision to make. Always calculate the benefit of foreclosing a loan before actually going ahead with it.
Choose the right lender
There are ample of lenders and online loan providers in the market and that is why picking the right one is critical. Do not fall into the trap of unbelievably low interest rates of ‘limited-period’ offers. Go for a reputed lender like PaySense that provides instant loan approvals, speedy disbursals, and offers flexible EMIs. Read up about the lenders and assess their market reputation before taking the final call.
Never, ever fall back on EMI Payments
As a golden rule, always maintain a minimum balance in your account to ensure that the monthly EMI is paid on time. With the auto-debit service, you have to ensure that your account has an optimum balance near the date of the deduction. Missing out on an EMI will not only evoke a late penalty but also negatively impact your credit history.