Personal loans with quick approval process
Get Instant Fast Loan up to ₹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 a Fast Loan?
A fast loan is an instant or quick loan that is sanctioned by lenders online to customers. The procedures are usually paperless and involve minimal documentation, along with fast approvals and disbursals.
How can I apply for a Fast Loan?
You can readily apply for a fast loan at PaySense. You only have to fill up some basic information to check your eligibility and then upload your documents and digitally sign all forms. The funds will then be approved and disbursed to your account.
Are there any limits on how I may use the money from a Fast Loan?
There are no limits on the purposes for which you are taking a fast loan. You can use it to meet any expenditure.
Are there any penalties for repaying a Fast Loan late?
No, there are no penalties for repayment of a fast loan.
What is the tenure of a Fast Loan loan?
Many lenders offer tenures between 36-60 months although it depends on the lender and various other parameters.
How is the amount of a Fast Loan determined?
The amount is determined on the basis of your application, eligibility, repayment ability and credit score.
What exactly is the distinction between a salary advance and a Fast Loan?
A salary advance is a short-term loan given for salaried professionals, which they can use for meeting diverse needs. A fast loan is a quick loan which can be used for meeting varied requirements although it is repaid over a certain duration through EMIs.
How much of a Fast Loan can I receive based on my income?
You can get anywhere between Rs. 5,000 and Rs. 5 lakh if you apply for the fast loan at PaySense. The minimum and maximum thresholds vary across financial institutions.
Where can I get a Fast Loan?
You can obtain a fast loan seamlessly at PaySense, the one-stop mobile app for getting quick funding without any hassles and via a 100% paperless procedure.
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.
What is a Fast Loan?
A fast loan is similar to an instant loan or quick loan that is offered by several lenders online via web platforms or mobile applications. Customers can login to these platforms, fill up some details, check eligibility and other conditions online and then apply instantly by uploading documents. Loan approvals are usually granted swiftly, mostly within a few hours, and the amount is disbursed to the customer’s account in quick time as well. There are many variations of these fast loans that one can check out, depending on the lender.
Importance of Fast Loan
The importance of fast loans cannot be denied in today’s fast-paced times. People often require money urgently for meeting diverse and sudden needs. From medical costs to education fees, money is sometimes required quickly by many citizens.
In these scenarios, they cannot go through the lengthy and time-consuming procedure of applying at conventional lenders, going through vast documentation and verification processes and waiting for the money to be sanctioned. They require money urgently and that is what fast loans ensure for them (subject to them being eligible of course).
How Does a Fast Loan Work?
In most cases, fast loans are approved and sanctioned online, usually on a website platform or mobile app. The usual procedure is the following (may vary across lenders and financial institutions):
- The customer has to login to the online account.
- The customer can check loan eligibility and other terms and conditions.
- The online application can be done by filling up a few basic details, which helps the lender determine overall eligibility for a certain amount.
- The customer can then choose the loan amount desired (sometimes out of an overall credit line based on the eligibility guidelines) and the tenure.
- Then documents have to be uploaded including KYC documents and income proof.
- Thereafter, the loan is approved or sanctioned swiftly within a few hours
- The customer can then view all agreements and other aspects before signing and finalizing the loan.
- The money is then disbursed to the customer’s account quickly after completion of the formalities.
Why Should You Opt for Fast Loans?
You can opt for fast loans for these reasons:
- They come without any collateral/security needs in most cases.
- You do not have to visit the bank branch physically or go through an extensive online process.
- You can simply apply online after checking your eligibility.
- You can quickly fill up some basic details, choose your tenure and loan amount and upload documents.
- All formalities can be completed online without any hassles.
- Fast loans ensure quick disbursal and approval of loans.
When Should You Take Fast Loan?
There are many scenarios where taking a fast loan is always beneficial:
- When you need funds urgently to meet any specific need.
- When you do not wish to physically apply at any banking branch.
- When you do not wish to go through extensive paperwork and documentation.
- When you wish to apply anytime and anywhere while getting the benefits of a quick and digital process.
- When you have a good credit score and are otherwise eligible.
For What Purposes Can Fast Loans Be Taken?
Here are some of the purposes for which you can take a fast loan:
- Sudden medical emergencies or hospitalization.
- Higher education costs.
- Urgent home repair or renovation.
- Buying an appliance or other useful item.
- Payment of utility and other bills/fees.
- Raising urgent working capital to meet day-to-day business requirements.
- Urgent inventory purchases.
Important Factors to Consider While Getting Fast Loan
Here are some things that you should not neglect:
- Your credit score should be between 750 and 900. A good credit score is a prerequisite for getting a fast loan since these are unsecured loans.
- You should otherwise be eligible, i.e. have sufficient income and repayment abilities.
- You should be ready to repay the loan in a timely manner without any defaults or missing installments (it will negatively impact your credit score as well).
- Check the rates of interest carefully. Interest rates are sometimes higher for these loans since they are akin to personal loans and are unsecured.
- Check the repayment terms and conditions along with provisions like auto-debit of funds from your account.
Features and Benefits of Fast Loans
Here are some of the features and benefits of fast loans:
- Easy online application.
- Paperless procedure with minimal documentation.
- Easy uploading procedures for documents and KYC.
- Easy online eligibility checker along with access to all necessary terms and conditions online.
- Competitive rates of interest
- Flexible tenures.
- A broader spectrum in terms of the minimum and maximum loan amounts.
- Quick and instant loan approvals within a few hours along with fast disbursal.
- Minimal interaction and discussions required.
Reasons why you should take a fast loan from PaySense
PaySense is the best destination to apply for your fast loan. These are some of the reasons worth considering:
- Loans between Rs. 5,000 and Rs. 5 lakh.
- Swift disbursal and approval for loans.
- 100% paperless procedure with minimal documentation.
- You can upload KYC documents and income proof documents as pictures, while digitally signing the loan application.
- Convenient and affordable EMI options with auto-debit and reminder features.
- Once registered, you can get your next loan with a single click.
- Loans available even for those without any credit history.
How to Apply for Fast Loan on PaySense?
There is a simple three-step procedure for applying to obtain fast loans on PaySense:
- Check your eligibility by filling up some details. Get your Credit Line and then choose the amount you wish to get from the same along with your tenure and EMI plan.
- Upload your KYC documents while signing the NACH form and loan agreement digitally. The former enables auto-debit of EMIs from your account.
- The loan approval comes within two working hours and you will get the funds instantly disbursed to your account.