PaySense Personal Loan of up to Rs. 5 lakhs is now available on BankBazaar. Here’s everything you need to know about this amazing product.
Getting a Personal Loan is a piece of cake these days, isn’t it? Bet you cannot disagree with this! But, with the plethora of options out there, it has become extremely difficult to choose one from the lot. True, right?
Here’s an easy tip to make the right choice – understand your requirements, shop around, compare between lenders, and choose the one that’s best suits your requirements while offering the best features at a low-interest rate. Simple, isn’t it?
Anyway, that aside, we’re here today to talk about a new product launch on BankBazaar – PaySense Personal Loan. Interested? Here’s everything you need to know about PaySense.
PaySense – An Introduction
PaySense is a platform that offers up to 5 lakhs Personal Loan instantly. They aren’t just limited to Personal Loans though. Their products also include vehicle loans, consumer loans and other loans such as travel, marriage, medical emergency and home improvement. This financial services startup began operations in 2015 in Mumbai with the sole aim of making everything financial simple, transparent and accessible. With PaySense, you can get access to credit without having to go through long waiting periods and strenuous application processes.
The credit lending platform has partnered with IIFL, one of India’s leading NBFCs. Investors in the platform include big shots like Nexus Venture Partners, Naspers, Singapore-based Jungle Ventures, and Rocketship.
Additional Reading: Dos And Don’ts Of Getting A Personal Loan
PaySense Personal Loan
PaySense offers instant Personal Loans of up to Rs. 5 lakhs for both salaried and self-employed individuals. But why should you opt for a PaySense Personal Loan when there are multiple other options out there? That’s the big question, right? Here’s why:
Quick approval and disbursal
Yes, you can get an instant Personal Loan of up to Rs. 5 lakhs. Just a few details and a few KYC documents are all it takes to avail this loan. Once you’ve provided these, your loan can get approved within just two hours and the loan amount will be transferred directly into your bank account.
Document collection is easy-peasy
No more hassles. With PaySense, you can avail doorstep document collection. Keep the required documents handy. Once the courier is at your doorstep, all you got to do is sign them and hand them over. It’s that simple!
No credit history required
Unlike other loan offers that demand a good Credit Score and active credit history, PaySense offers their Personal Loan to those who are new to the credit lending system. So, you can rest assured that your application will be accepted, regardless of whether you have taken a loan or any other credit product earlier or not.
Psst! Have you checked your Credit Score lately? Check now in less than three minutes.
EMIs that are easy on the pocket
PaySense’s EMI plans are affordable. You can choose a tenure of up to 24 months (two years) to repay the loan amount, as per your convenience. Plus, you’ll get constant reminders and can opt for the auto-debit facility, so you’ll never miss any due payments ever.
Avail more loans easily
PaySense follows the one-time documentation method. This means that once you’ve taken a loan from PaySense and submitted your documents, you can later avail more loans in just a click. There won’t be any further checks required.
Additional Reading: Smart Ways To Use A Personal Loan
In order to be eligible for the PaySense Personal Loan, you must meet the following requirements:
- You are a resident of India within the age group of 21 to 60 years
- You must be either salaried or self-employed
- Minimum monthly income of Rs. 12,000 if you are salaried or a monthly income of Rs. 15,000 if you are self-employed
- You are living in a city where PaySense operates. Currently, PaySense is active in 40+ cities within the country
Documents Required For The Loan
In order to get your loan quickly, make sure you have the following documents handy:
- Identity proof – Aadhaar, PAN card
- Address proof – Aadhaar, Postpaid/Utility bills, Rental agreement
- Income proof – Last 3 months bank statement
Additional Reading: Home Credit Personal Loan Offer on BankBazaar
Getting the PaySense Personal Loan from BankBazaar has its own advantages. Not only will you get step-by-step guidance from loan application to disbursal, but you can also avail the loan without having to submit any income documents – only KYC documents are required. Remember this offer is applicable only on applications via BankBazaar. So, what are you waiting for? Click the link below to get started.