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

Unsecured Loans

No Collateral. No Securities. No Questions.

Get Unsecured Personal Loans up to ₹5 Lakhs Easily

100% Safe & Secure
100% Safe & Secure
Instant Process
Instant Process
quote
Great app. It does what it says and can be of very help to get personal loans. It’s absolutely wonderful. Looking forward to have a long term association with you guys.
Get Unsecured Personal Loans up to ₹5 Lakhs Easily
Secured and unsecured are two different types of loans available in India. With a secured loan, you are required to pledge collateral or security. In case of a default, the lender will have the right to dispose off your security in order to recover the unpaid dues. There are many different types of secured loans in India, such as car loan, gold loan, and home loan. Apart from these popular options, there are also other types of secured loans that allow you to pledge many different types of collateral for taking the loan. Many different types of investments and assets can be used as collateral for such loans.However, what if you don’t have collateral and still need a loan? An unsecured loan from PaySense can be a great option in such cases. No matter if you need funds for a medical emergency, wedding expenses, purchasing the latest gadget, home renovation, or international vacation, our unsecured loans are ideal for each of your emergency funding needs. We understand that there are several instances in life when you might need quick access to funds. At such times, arranging collateral in order to take a secured loan might not be the most practical option.Our quick unsecured loans that come with easy documentation and instant approval, are a perfect fit for such occasions. The eligibility requirements are minimal to make sure that more people are eligible for unsecured loans of up to ₹5 lakhs. With a simple 3-step application process and flexibility to apply from our mobile app and online portal, rest assured that you will experience a revolutionized borrowing process which is quick, hassle-free and secure. Moreover, this unsecured loan convenience doesn’t come at a very high price. At PaySense, our interest rates are one of the lowest in the industry, and the repayment tenure too is highly flexible. This ensures that you can comfortably repay the loan in fixed monthly EMIs without any financial crunch. As our services are currently available in more than 43 cities, you are never too far from a quick unsecured loan from PaySense. ... +more

Do you think a loan needs too much effort ?

Getting a loan was never this easy

Instant loans
Instant 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
Easy Collection of Documents
Easy Collection of Documents
Doorstep collection of documents; just sign & hand over the required documents to the courier
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 loans
One-click subsequent 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 loan previously? It’s okay - we serve the users who are new to credit and lending system.

It just takes three simple steps !

1
Check eligibility and select a loan plan
Fill in a few basic details to check your eligibility for PaySense instant loans and get a Credit Line. A Credit Line is the total amount of loan you can get from PaySense. To maintain EMIs better, it is recommended that you take a loan of only up to 50% of your approved line of credit. 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.... +more
2
Upload KYC Documents
To get your 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.... +more
3
Get your money
Once your loan is approved and the application procedure is complete, your money will be directly transferred to your account quickly... +more
Check eligibility and select a 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

Documents Required

Credit Score

EMI Calculator

Eligibility Criteria options

Eligibility Criteria

Are you eligible for a personal loan?

To be eligible to get a personal loan from PaySense, you should fulfil the following eligibility criteria

Documents Required options

Documents Required

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

  • A Selfie

Credit Score options

Credit Score

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.

Range
Grade
0 or -1
No Credit History
300 - 550
Bad
551 - 649
Poor
650 - 699
Fair
700 - 749
Good
750 and above
Excellent
EMI Calculator options

EMI Calculator

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.

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.

Over 1,20,000 loans disbursed-happy customers

With a continously growing community of happy customers we are disbursing more loans every minute.

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PaySense app screenshots
Download the PaySense App
Enjoy a faster & easier loan application process with our Android App

Disbursed till date

App Downloads

Loans Disbursed

We offer personal loans in all the major cities across India

Available in 43+ cities

Ahmedabad
Anand
Bengaluru
Bharuch
Bhopal
Chandigarh
Chennai
Coimbatore
Faridabad
Gandhinagar
Ghaziabad
Goa
Guntur
Gurgaon
Hyderabad
Indore
Jaipur
Jodhpur
Kolkata
Kota
Medak
Mehsana
Mohali
Mumbai
Mysore
Nagpur
Nashik
Navi Mumbai
Nellore
and many more
loans available in major cities in india

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
Others
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Is it difficult for a self-employed individual to get an unsecured loan?

At PaySense, we do not differentiate our customers on the basis of their occupation. As long as you meet the eligibility requirements, salaried and self-employed individuals can get an unsecured loan with the same ease and convenience.

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I took a loan from PaySense in the past and repaid it on time. I am looking for another loan now. Do I need to go through the application process again?

No, we have One-Click Subsequent Loan feature exclusively for such instances. With this feature, our existing customers can apply for another loan from PaySense without going through the application and documentation process again.

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Can I take an unsecured loan for managing my monthly expenses?

Yes, there are no limitations on how you can use the loan amount. Be it managing your monthly expenses, wedding, family vacation, or purchasing a new gadget or appliance; you can use the loan just the way you want.

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What is the maximum repayment tenure of an unsecured loan?

We offer unsecured loans of up to ₹5 lakhs for up to 2 years. This ensures that you can select an amount and tenure that best suits your needs and repayment capacity.

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Can I get a NOC (No Objection Certificate) after repaying a PaySense loan?

Yes, we do offer NOC once you have successfully repaid the loan. Simply send a request with your account details to our support department at [email protected] and we will do the needful.

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I am already repaying a loan. Can I get a new unsecured loan from PaySense?

If you can manage the EMIs of your existing loan as well as the new loan, there is a major possibility that your new loan application will be approved.

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Are there any hidden fees?

Transparency is one of the most important considerations for us. As a result, there are zero hidden charges or fees. You will only be asked to pay what is already mentioned in the loan agreement. Make sure that you check the loan agreement carefully before signing.

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Will I ever be required to visit PaySense office with regards to the loan?

No, we operate digitally and never ask our customers to visit us physically. The entire process of application, uploading documents, signing the loan agreement, and loan disbursal take place online.

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Can I foreclose the loan?

Yes, if you have paid at least 3 EMIs, you can foreclose the loan. However, a foreclosure fee of 4% of the outstanding principal amount will be applicable.

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Can an unsecured loan affect my credit score?

No, as a matter of fact, you can take an unsecured loan and repay it on time to improve your credit score. However, just like any other type of loan, if you are not able to repay the unsecured loan on time, it will negatively affect your credit 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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Unsecured Loan Industry in India

As per a report by CRISIL, between 2015 and 2018, unsecured loans have grown in India at a CAGR (Compound Annual Growth Rate) of 27% which is almost 4 times the 7% CAGR of overall bank credit. Reduced interest rate and use of digital technologies are two of the biggest reasons for the widespread popularity of unsecured loans in the country. Moreover, the same report also suggests that as per the current scenario, the overall unsecured loan portfolio can continue to grow at 24-25% CAGR in the next 3 years to reach an astounding ₹9.5 lakh crores by 2021. As more people now understand the benefits of unsecured loans, it is slowly turning into a go-to option when it comes to managing urgent or day-to-day expenses. PaySense prides itself on the fact that our mode of operation is highly efficient and is helping the unsecured loan industry grow in our country. With more than 1,50,000 happy customers and funds worth more than ₹650 crores disbursed already, PaySense is turning into a popular option for getting a quick unsecured loan in India.

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Why Should You Consider an Unsecured Loan?

If you are looking for a loan and searching for the same on the internet, the options available can be perplexing. There is now a different loan for all the different needs. So, what makes an unsecured loan such a popular choice? Here are some of the most important reasons-

  • Quick Application and Approval


    The entire application and approval process of a loan can be very daunting and time-consuming. If you are looking for quick funds, this might not really be the best option. With PaySense, you can apply for an unsecured loan within minutes. Once you have successfully applied, our team just takes about 2 hours for approving the loan. loan. loan. From approval to loan disbursal, there is a maximum gap of just 5 days. So, rest assured that if you meet the eligibility requirements and your documents are in order, you will receive the funds directly into your bank account in 5 days to help you manage your emergencies.




  • No Limitation on Using the Loan Amount


    Unlike most types of secured loans, an unsecured personal loan can be used for many different reasons. No matter if you want to buy new furniture for your home, expand your business, manage wedding expenses, or consolidate existing debt, there is no limitation on how the loan amount can be used. This makes an unsecured loan from PaySense a highly flexible option. No matter what your need is, you are completely free to use the loan amount, just the way you want.



  • Minimum Eligibility and Documentation Requirements


    No matter how
    No matter how secure your finances currently are, a financial emergency can arise at any time. We want to ensure that you can always rely on PaySense every time you need financial assistance. As a result, our unsecured loans have minimum eligibility requirements. This helps us ensure that the more people are eligible for our loans. Moreover, while we are already using the internet for a host of our day-to-day activities, why not use the same to apply for a loan too? We have made sure that the whole process of applying for an unsecured loan and getting the loan disbursed is fully online. The documents are also uploaded online to eliminate the need for the borrowers to visit us personally.



  • Available for Salaried and Self-Employed Individuals


    One of the
    One of the most significant considerations for lenders these days is your occupation. Most lenders prefer giving loans to salaried individuals with decent work experience as they receive a fixed monthly salary. As a result, the chances of such borrowers repaying the loan on time are considerably high. However, we do not differentiate borrowers with respect to their occupation. Our unsecured loans are available for salaried as well as self-employed individuals. Moreover, even if you do not have any credit history, you can still be eligible for a PaySense loan. While a lot of lenders avoid giving loans to borrowers with no credit history, we do not mind allowing them to be a part of the credit and lending system of the country.




  • Tax Benefits


    Most people do not know about the tax benefits of taking an unsecured personal loan. However, there are a few scenarios where a personal loan too can help you get tax benefits. For instance, if you use the loan money for purchasing or constructing a property, you can get tax benefits for the same. Similarly, if the personal loan is used for purchasing other assets or for a business purpose, there are IT laws that can help you save taxes. However, you will be required to provide documents which confirm the fact that you have actually used the loan money for the reasons as mentioned above.



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Types of Unsecured Loans in India

Unsecured loans are of many different varieties in India. Some of the most popular ones are-

  • Online Personal Loan


    Online personal loans don’t require the borrowers to visit the lender to apply for the loan. The entire process is handled online, just like PaySense. You can apply for online loans from your PC, laptop, or even through a mobile app. Once the loan is approved, the loan amount is deposited directly into your bank




  • Home Renovation or Improvement Loan


    Planning to redesign your home or make an important repair work? You can take a home renovation loan for the same. With easy repayment and affordable interest rates, these loans allow you to take up expensive upgrade or renovation projects and then repay the loan in easy monthly



  • Consumer Durables Loan


    Planning to purchase a new refrigerator, a washing machine, or new furniture but don’t want to disturb your savings? A consumer durable loan is a great choice. These too are unsecured loans which can be used for purchasing appliances as well as furniture for your home.



  • Marriage Loan


    We all wish to have a dream wedding in order to make sure that we remember this special day throughout our lifetime. But marriages can get very expensive. If you have elaborate plans for your wedding, a marriage loan can be very helpful.



  • Travelling Loan


    Want to take your family on a dream vacation abroad? How about taking a loan for the same? With the help of a travelling loan, you can easily manage the expense of your holidays and then pay for the same in fixed monthly EMIs. Simple and quick, a travelling loan will let you enjoy your holiday without any financial worries.



  • Debt Consolidation Loan

    A lot of people use multiple credit cards and take loans for managing a host of their expenses. But, managing multiple credit card bills and loans can be very challenging. You can take a debt consolidation loan to repay your existing debt so that you only have a single loan which is easy to manage.



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Points to Remember When Taking Unsecured Personal Loan

  • Have a Repayment Plan in Place Even Before Applying


    If you are planning to take an unsecured loan, it is very important to have a solid repayment strategy. Use our EMI calculator and choose an EMI amount that you can easily pay each month. Make sure that you do consider your monthly expenses too when taking a loan.



  • Interest Rate is NOT the Only Important Consideration


    While we all want to save as much money as possible and want the cheapest loan, there are a few other essential factors apart from the interest rate that one should keep in mind. Eligibility requirements, documentation process, approval and disbursal, hidden charges, and reputation of the lender are some of the points that you should remember when comparing lenders.



  • Go Through the Loan Agreement Carefully


    You will be required to sign a loan agreement before the processing of your loan begins. Go through the agreement carefully as it contains all the important details about your loan. While reading the entire agreement would surely take some time, it is important to avoid any problems in the future.



  • Never Miss an EMI


    Prefer selecting an EMI date that is close to when you receive your monthly salary. This will ensure that your account has adequate funds for the EMI. Late payment will result in a penalty and frequent late payments can also affect your credit score negatively.



  • Keep an Emergency Fund


    It is not always possible to foresee your expenses. To avoid late payment in such cases, you can try to build an emergency fund with enough money to at least manage 2-3 EMIs. In cases such as a medical emergency, changing your job, or other unexpected expenses, this emergency fund can help you continue repaying the loan on time.



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Apply for loans of upto ₹5 lakhs easily using your phone or laptop, and pay back on low EMIs