PaySense and LazyPay, PayU’s consumer lending business, merge to build a full-stack digital lending platform in India.Learn more

Small Loan

Small loan for an emergency cash crunch

Take a Small Loan of upto Rs. 5 Lakhs

100% Safe & Secure
100% Safe & Secure
Instant Process
Instant Process
Say Bye Bye to Cash Crunch?
Use the EMI Calculator to check plans

Loan Amount

1,30,000Edit
₹5,000
₹1,30,000
₹5,00,000
Loan Term
EMI (per month)
Total interest
*The tenures shown here are indicative. Actual tenures may vary depending on your eligibility.
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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…
Getting a personal loan to cover an emergency, fund a consumer durables purchase, or avoid a late bill payment might be a lifesaver.
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However, some lenders may set minimum loan amounts, which can be way more than what you require.
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If you simply require a small loan of ₹15,000 or less, you may be pushed to borrow far more than that. And taking on more debt, especially when you're paying interest on it, is not a good decision.Instead of taking out more debt than you need, it is wise to look for a more flexible lender. Small personal loans are the appropriate financial solution for your financial problems.
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When choosing a loan, keep in mind that you may not need a large sum of money. You may just require a small amount of money to pay your bills, or take care of any other small expense. PaySense caters to your small loan needs with PaySense Small Loan.
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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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Download the PaySense App
Enjoy a faster & easier loan application process with our Android App

Disbursed till date

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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
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What is the definition of a small loan?

A small amount personal loan is a type of loan of up to ₹5 lakhs that has to be repaid in a short period. The loan term could be a year or more, but not more than 5 years.

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What distinguishes small loans from other types of loans?

Small loans online are quick and could come in handy at the end of the month in case you run out of your salary. Other types of loans can take time to get disbursed. A small business loan is generally taken to finance short-term money requirements.

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What are my options for borrowing small amount of money?

You can borrow small amounts of money using PaySense personal loan app.

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What is the least loan that I am eligible for?

The least amount of loan that you can borrow from PaySense is ₹5,000.

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Who must take out a small loan?

You can take out a small loan if you need a small sum of money for a short period of time.

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How much can I borrow through a small personal loan?

You can borrow from ₹5,000 to ₹5 lakh using small personal loan from PaySense.

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Are small personal loans and payday loans the same thing?

Small personal loans and payday loans are not exactly the same thing. Payday loans or advance salary loans are loans that are paid off when the salary comes while small personal loans can be taken for longer tenure.

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What documents are necessary when applying for a small loan?

You only need documents like your proof of your identity, address, and income to apply for a small loan.

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Is it possible to obtain a small loan without a CIBIL score?

Yes, you can avail a small loan without a CIBIL score

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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 Small Loan?

Small loans are typically personal loans intended to pay unexpected needs such as medical bills, home repairs, automobile repairs, or other household expenses.
Small loans online can cover any shortfalls in funds while you're in a pinch. Aside from being an instant personal loan, a small personal loan has a number of other advantages. The size of a small loan isn't technically defined, although it's commonly thought to be ₹5,000 or less.

Importance Of Small Loan

Following are some pointers showing the importance of small loans:

There is very little documentation.
Only a few important documents are required for the small loan application. These documents are proof of your identity, address, and income.

No physical submission is needed.
You don't have to go to a bank or branch when you use PaySense instant loan application. You may upload all the documents via the loan app from your smartphone.
Constant accessibility.
A personal loan can be obtained at any time and from any location on the planet. You can make small loan application from the convenience of your own home or place of business. You can find the PaySense loan app on the Google Play Store, download it and avail the loan.

The loan's amount and duration are both adjustable.
You can avail a loan between ₹5,000 and ₹5 lakh from the PaySense personal loan app. You can acquire a loan amount of your choice based on your needs. The same follows for the loan's term.

The app is user-friendly.
A small loan application is rather simple to complete. The loan application process is straightforward. The approval process is also relatively short, with most lenders approving in just a few minutes.

The interest rates on small personal loans are modest.
The interest rates for personal loans are frequently competent than those on credit cards. PaySense provides small loans online with annual percentage rates starting from 16 percent.

Who Should Take A Small Loan?

Anyone who needs money for personal or professional reasons can get a short-term small loan. It could be used by an individual to pay bills. Alternatively, an entrepreneur can use small business loans to meet her working capital needs. Maintaining a cash flow and borrowing funds in the event of a temporary deficit are two examples of working capital requirements.
Salaried professionals and self-employed persons can avail small business loans to fund personal requirements like buying consumer appliances and electronics like computers and smartphones.

Why Should You Opt For Small Loan?

You can make small loan application online using PaySense personal loan app. You must apply for small loans for the following reasons:

  • No credit check: Small loans do not require you to have a good credit score.
  • Quick approval and disbursement: Small loans online are approved and disbursed in a matter of hours.
  • Unsecured credit facility: Small personal loans are unsecured loans that do not require you to put up any security or collateral.
  • Minimal documentation: You simply need basic documentation such as proof of identification, residency, and proof of income to get small loans online. As a result, the approval and distribution processes are quick.
  • Self-employed individuals can apply: Self-employed people can acquire a small loan in a variety of situations.
  • New customers can apply: Even if you are not an existing customer of a financial institution, you can avail small loan from PaySense.

For What Purposes Can Small Loan Be Taken?

A small personal loan allows you to handle little chunks of spending without having to pay a high-interest rate on a huge principal sum over a long period of time. A small loan can be used to cover wedding costs, invest in a hobby, or enrol in a new vocational training course. You can invest in your passions with the help of a small personal loan.
Personal loans for small amounts can be utilised for a variety of reasons, including:

  • Meeting cash flow requirements
  • Meeting expenses incurred as a result of a medical emergency
  • Travelling
  • Buying a present for someone you care about
  • Keeping your electronics up to date
  • Taking care of your fundamental necessities
  • Renovating your residence
  • Investing in additional wedding costs
  • Getting rid of credit card debt
  • Getting money to cover funeral costs
  • Expenses associated with moving
  • Buying a bicycle or scooter

Important Factors To Consider While Getting Small Loan

There are various advantages in availing small personal loans. They do, however, have some terms and conditions.
Following are some important factors to consider while making small loan application:

  • Before you take out a small loan, make sure the amount you borrow is within your repayment capabilities. Because, if you default on these loans, the late fees and other expenses are higher than on regular loans.
  • When looking for a small loan, consider a lender with a proven track record of providing good customer service like PaySense. Make sure you're not a con victim.
  • Keep an eye out for any additional costs associated with small loans. You should carefully study the loan agreement and inquire about the costs and fees associated with receiving a loan from the lending company.

Features And Benefits Of Small Loan

PaySense is an online lender that specialises in offering personal loans. Following are some of the most prominent features and benefits of PaySense Small Loans:

  • Small loans online need less documentation.
  • One of the most notable characteristics of small loans online is the speed with which the loan sum is disbursed. When it comes to small loans, lenders normally only want a minimal amount of documents. As a result, they can disburse these loans in just a few hours. PaySense, for example, approves your loan in two hours and disburses your funds quickly.
  • There is no need to have a credit history. To get a loan with PaySense, you don't need a great credit score.
  • For their speedy personal loans, the majority of lending organisations charge processing fees. It could be anywhere from 1% and 5%, depending on the lender and the loan amount.
  • Most small loan providers will offer to foreclose your outstanding loan amount in exchange for a small fee.

Why You Should Take Small Loan From PaySense?

Following are some of the advantages of availing a small loan from PaySense:

  • Flexible repayment alternatives: Numerous repayment choices from PaySense make it easy for you to repay your loan.
  • Online application: You can make small loan application without going to a financial institution because you can do so online. Furthermore, you won't have to wait days for the loan to be granted. The complete loan application process takes only a few minutes on the PaySense personal loan app.
  • No restrictions on how the loan amount is used: There are no restrictions on how PaySense Small Loan is used. As a result, you have complete control over how the borrowed money is used.
  • Low-interest personal loans: PaySense Small Loans feature a lower personal loan interest rate than credit cards.

How To Apply For Small Loan On PaySense?

You can make small loan application using the PaySense personal loan app as follows:

  • Install the PaySense personal loan app on your phone.
  • Verify your loan eligibility after you log in to the app.
  • Upload your photo and KYC documents such as your Aadhar card, bank statement, etc.
  • Sign the NACH form as well as the loan agreement.