PaySense Loan App

Loan App Details & Reputation

App Name

PaySense

Tagline/Description

Instant personal loans for all your needs.

Developer/Company Name

PaySense Services India Private Limited

Social Media Handles

Facebook: @gopaysense | Twitter: @gopaysense |LinkedIn: PaySense

Contact Information

Phone Number: 080-61826464

License and Registration Details

RBI registered NBFC

Latest News/Updates

  • March 2024: PaySense introduced a simplified loan application process with reduced documentation.
  • January 2024: PaySense launched a referral program with rewards for both referrer and referee.

Loan Details

Loan Amount (Minimum and Maximum)

Personal Loans: ₹5,000 to ₹5,00,00

Interest Rate (Daily, Weekly, Monthly, Annually)

6% to 36% APR (Annual Percentage Rate) on reducing balance basis

Loan Tenure (Minimum and Maximum)

3 months to 60 months

Repayment Options

Flexible EMIs with auto-debit and reminder features.

Fees (Processing, Late Payment, etc.)

Up to 2.5% processing fee + GST, late payment charges apply.

Eligibility Criteria (Age, Income, Credit Score, etc.)

  • Age: 21 to 60 years
  • Salaried or self-employed
  • Minimum monthly income: ₹18,000 (salaried) / ₹20,000 (self-employed)
  • Residing in one of 600+ cities across India

Documents Required

PAN card, Aadhaar card, bank statements, salary slips (if applicable)

Loan Purpose

Any personal financial need.

App Ratings and Reviews

Google Play Store Rating

4.4 stars (over 1 crore downloads)

Apple App Store Rating

Not available

Trustpilot Rating

Not available

Google Reviews

Mostly positive, praising the user-friendly interface, fast disbursal, and flexible repayment options.

User Reviews and Feedback

Positive Reviews

Quick approval and disbursal, easy application process, transparent fees.

Negative Reviews

Some complaints about high-interest rates for certain profiles, occasional technical glitches.

Customer Support

Contact Channels

Email, phone, in-app chat

Support Hours

Not specifically mentioned, likely during business hours.

FAQs and Knowledge Base

Available on the website and app

Loan Disbursal and Repayment

Disbursal Time

Within minutes upon approval.

Repayment Options

Flexible EMIs with auto-debit and reminder features.

Late Payment Fees and Penalties

Varying charges based on outstanding amount and duration of delay.

Additional Features

Credit Score Check and Reporting

Not explicitly mentioned.

Loan Calculator and EMI Simulator

Available on website and app.

Financial Education Resources

Not prominently featured.

Referral Programs or Incentives

Referral program with rewards for both referrer and referee.

Regulatory Compliance

RBI or NBFC License Details

RBI registered NBFC.

Compliance with Indian Banking Regulations

Yes

Data Protection and Privacy Compliance

Complies with Indian data protection laws

Miscellaneous

System Requirements

Android

Language Options

English, Hindi

Step-by-Step Guide to Using MoneyTap

Download and Install

Find the PaySense app on Google Play Store and install it.

Google Play Store Link

Apple Store Link

Not Available

Registration

Create an account using your phone number.

Profile Completion

Fill in your personal, employment, and financial details.

Loan Application

Approval and Disbursal

Select the desired loan amount and tenure..

Wait for the loan approval decision. If approved, the funds will be disbursed quickly.

Repayment

 Make timely repayments through the available payment options.

Disclaimer

The information presented in this document regarding loan apps is intended for general informational purposes only and is current as of the date of this post. It is compiled from sources believed to be reliable, including official websites, app stores, and user reviews. However, the financial landscape, app features, interest rates, and terms can change rapidly.

Instantloansindia does not endorse any specific loan app or guarantee the accuracy, completeness, or timeliness of the information provided. It is crucial that users verify all information directly with the respective loan app or financial institution before making any financial decisions.

Instantloansindia shall not be held liable for any damages, losses, or liabilities arising from the use or reliance on the information herein. Users are solely responsible for their financial choices and should consult with qualified professionals for personalized financial advice.

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