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Private Loan

Get a quick private loan

Get a Private Loan of upto Rs. 5 Lakhs

100% Safe & Secure
100% Safe & Secure
Instant Process
Instant Process
Possible to get Loan Approval Online?
Use the EMI Calculator to check plans

Loan Amount

1,30,000Edit
₹5,000
₹1,30,000
₹5,00,000
Loan Term
ROI
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
quote
Well happy with paysense app and service thanks for creating this type of app to get immediate fast loan which helps us a lot in our bad time.... hope this will remain same and will grow more with new things all the best team…
Private loans are a broader umbrella term that indicates loans provided by private entities including banks, financial institutions, and other entities. Nowadays, private loans have taken over the market as far as individual borrowers are concerned, especially with regard to availing of personal loans or other credit for meeting diverse requirements.
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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!

1
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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2
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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3
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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Enjoy a faster & easier loan application process with our Android App

Disbursed till date

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Loans Disbursed

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
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What are my options for obtaining a private loan with a lower salary?

You can always look up PaySense where customers may apply for amounts between Rs. 5,000 and Rs. 5 lakh. Hence, for smaller amounts, you will be eligible to get your own Credit Line, even if you have a lower salary. You should first check eligibility online before applying.
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Is it possible to acquire a private loan with a low salary?

Yes it is possible to get a private loan with a lower salary. However, you should meet the lender’s eligibility criteria of a minimum amount in earnings every month. You can get a private loan if your salary is on the lower side, although it will be commensurate with the same.
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Is it possible to receive a private loan based on my first months salary?

It is possible if you can show bank statements with regular inflow of funds or if the lender allows the sanctioning of the loan only based on your monthly income. It is advisable to wait for a few months before applying.
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Does my salary have an impact on my ability to get a private loan?

Of course, your salary will impact your ability to obtain a private loan. This is because your monthly income will determine your repayment ability and also the amount that you will be eligible for, as a result.
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Is it possible to receive a private loan without a pay slip?

In most cases, it is impossible. However, if you have already registered at PaySense and taken a loan before, then you can go through a one-click process forgetting the next loan.
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What is the minimum wage required to qualify for a private loan?

In most cases, it is usually Rs. 18-20,000 and varies across lenders.
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Is it possible to receive a private loan if I dont reside in a major city?

Yes it is possible to get a private loan even if you do not stay in a metro or Tier-1 city. For example, you can try PaySense which offers private loans in 180+ cities.
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What is the smallest amount of a private loan?

It varies from one lender to another. At PaySense, it is from Rs. 5,000 onwards, so you can take that as a reference.
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What happens if I cant make my EMI payments on time?

Defaulting on your EMI payments will firstly hamper your credit score greatly. At the same time, not paying the EMIs for a particular period will make the lender mark you as a defaulter or NPA. The lender may initially charge penalties if you resume repayments and clear the pending amount. However, stopping repayments means being subjected to legal consequences. Only apply for the loan if you can afford to repay it.
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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.
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Which banks and NBFCs have you partnered with?

Currently, we have partnered with India Infoline and Fullerton to serve bothsalariedandself-employedusers. We are adding more banking partners to provide more options to our users.
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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.
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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.
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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.
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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.
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Am I eligible for a PaySense personal loan?

To be eligible for a PaySense personal loan, you have to meet the following criteria –
  • Resident of India
  • Current city of residence is under our serviceable areas
  • Age: 21-65 years
  • Type of employment:Salaried/Self-employed

  • Minimum Income forSalaried: ₹ 12,000 per month

  • Minimum Income forSelf-employed: ₹ 15,000 per month

  • Have an active netbanking account
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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.
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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.
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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.
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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.
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What documents are required to get a PaySense personal loan?

To get a PaySense personal loan, the following documents are required –
  • Selfie
  • PAN Card
  • Net banking login information
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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Are there any extra charges on late payments?

Yes. For late payments on EMI, you have to pay a flat rate of ₹ 500 + GST.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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]
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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.
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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.
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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.
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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.
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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.
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Apply for loans of upto ₹5 lakhs easily using your phone or laptop, and pay back on low EMIs

What Is a Private Loan?

Private loans are given by private entities like financial institutions, lending platforms and banks and even state-affiliated entities that set their own lending terms and conditions. They are different from governmental/public funding where the money is given by the Government directly and the terms and conditions are set likewise.

Importance Of Private Loan

The importance of a private loan is undisputed since these loans already comprise a major segment of the market. At the same time, the Government is not a direct lender in most cases. It is a stakeholder in several leading banking and financial institutions and those public sector entities offer loans to customers. At the same time, customers apply in large numbers at private entities including private sector banks, lending platforms and other online options for swifter and hassle-free funding in most cases.

How Does Private Loan Work?

Nowadays, a private loan is mostly sanctioned and approved online itself, making many customers opt for this time-saving system instead of venturing to public sector entities which have lengthier procedures at times. Private loans usually have a simplified interface or platform for entering basic information, checking loan eligibility and uploading documents. Thereafter, the customer either gets a credit line or a sanctioned amount for which he or she is eligible. Then all the agreements and formalities are done online and the money is quickly released to the customer’s account likewise.

Why Should You Opt For Private Loan?

If you are assuming private loans to majorly function in the online space, then you should definitely choose the same for the following reasons:
  • Time and energy saving.
  • Easy online application and uploading facilities.
  • Quick eligibility checker.
  • Get funds instantly sanctioned/approved if you are eligible.
  • Repay conveniently and complete all loan formalities online itself.

When Should You Take a Private Loan?

You should venture to apply for a private loan in a scenario where you require funds quickly or urgently and do not wish to go through the entire rigmarole of applying at public lenders or other financial institutions. You should apply when you quickly need an approval and disbursal of funds and cannot afford to wait for a long period of time. You should apply if you prefer a completely digital process of application, disbursal and repayment.

For What Purposes Can Private Loan Be Taken?

You can apply for a private loan in order to meet varied needs including the following:
  • Medical emergencies.
  • Wedding expenses.
  • Higher education costs.
  • Working capital and other business needs.
  • Home repairs or renovation.
  • Buying appliances or urgent gadgets.

Important Factors To Consider While Getting Private Loan

  • Make sure you check the loan tenure and your EMI/repayment plan carefully.
  • Ensure that you are in the loop about the rate of interest. Private loans, being unsecured loans (not secured by any guarantee/collateral), have higher rates of interest in most cases.
  • Check your eligibility before applying, in addition to other terms and conditions of the lender.
  • You should have a good credit score to get your loan approved instantly.

Features And Benefits Of Private Loans

Here are some features and benefits worth noting:
  • Loans for smaller amounts, catering to every requirement.
  • Fully digital procedure which is paperless and convenient.
  • Higher time, cost and energy savings.
  • Competitive interest rates.
  • Easy application procedure online with document uploading provisions.
  • Quick sanctions, approvals and disbursals.
  • No need for any personal interaction or face-to-face discussions.
  • Instantly available money (based on the customer’s eligibility) for meeting urgent requirements.

Reasons Why You Should Take Private Loan From PaySense

PaySense is one of the leading lending and financial platforms offering private loans to customers. Here are some of the biggest reasons for choosing PaySense for your private loans:
  • Loans between Rs. 5,000 and Rs. 5 lakh.
  • Easy online application procedure via the PaySense app.
  • Instant eligibility checker online.
  • Easy entry of basic details for getting a Credit Line as per eligibility.
  • Swift application with online document uploads and digital signatures.
  • 100% paperless procedure with instant approvals within a few hours.
  • Quick disbursal of funds to the customer’s account.
  • One-time registration is all you need; from your second loan onwards, you can enjoy a one-click procedure for getting funds.
  • Easy auto-debit and reminder facilities for smooth repayment.

How To Apply For Private Loan On PaySense?

The application procedure is quite simple and involves the following steps:
  • Check your eligibility on PaySense by entering some basic information.
  • Thereafter, you will get your own Credit Line.
  • Once you have this, you can apply for a specific loan amount from the same, along with choosing your tenure and EMI plan.
  • Thereafter, you can conveniently upload your documents and digitally sign the loan application and NACH form (for auto-debit of funds from your account).
  • The loan will get approval within a few working hours and the funds will be swiftly disbursed to your account.