Getting funds for business is one of the important decisions for business owners. Secure your fund with a PaySense Business Loan at competitive interest. Understand PaySense business loan interest with different factors that control ROI (Rate of Interest).
PaySense Business Loan Overview
| Take Loan | Rs. 50,000 – Rs. 7.5 Lakh |
| Loan Repayment | 1 to 5 years |
| Rate of Interest | 16.80% p.a. |
| Processing fee | Up to 3% + GST |
| Credit Score | 720+ or above |
Latest PaySense Business Loan Interest Rate
Check the updated rate of interest on the PaySense business loan. PaySense fletch competitive interest depends on creditworthiness. The latest business loan interest rate is given below:
| Lower Interest | 16.80% per annum |
| Maximum Interest | 30.90% per annum |
Compare PaySense Business Loan with Other Banks
| Banks / NBFCs | Interest Rate | Loan Amount | Repay Term | |
| Faircent | 14% p.a. to 21% p.a. | Rs.50,000 to Rs.10 lakh | 12 months to 36 months | Apply Now |
| InCred | 18% p.a. to 28% p.a. | Rs.30,000 to Rs.7.5 lakh | 12 months to 48 months | Apply Now |
| IIFL | 11.25% p.a. to 33.75% p.a. | Rs.50,000 to Rs.30 lakh | 12 months to 60 months | Apply Now |
| Chola Finance | 14% p.a. to 21% p.a. | Rs.30,000 to Rs.20 lakh | 12 months to 60 months | Apply Now |
| Poonawalla Fincorp | 15% p.a. to 28% p.a. | Up to Rs.50 lakh | Up to 3 years | Apply Now |
| FT Cash | 12% p.a. to 22% p.a. | Up to Rs.50 lakh | Up to 3 years | Apply Now |
| NeoGrowth | 19% p.a. to 24% p.a. | Up to Rs.75 lakh | Up to 7 years | Apply Now |
| FlexiLoans | 12% p.a. onwards | Up to Rs.1 crore | 1 year to 5 years | Apply Now |
| LendingKart | 12% p.a. to 28% p.a. | Up to Rs.1 crore | 12 months to 36 months | Apply Now |
| Ashv Finance | 18% p.a. to 21% p.a. | Up to Rs.40 lakh | 12 months to 36 months | Apply Now |
| Aditya Birla | 14% p.a. onward | Up to Rs.15 lakh | 12 months to 36 months | Apply Now |
| Tata Capital | 16.50% to 19% p.a. | Up to Rs.75 lakh | 12 months to 36 months | Apply Now |
Factor Impact on PaySense Business Loan Interest Rate
PaySense fletch borrower credit reports and other details to provide competitive rates. Here are some factors that impact interest rates whenever taking a PaySense business loan:
Creditworthiness: The borrower’s credit score is like the coach of the tournament. Credit scores play a vital role in competitive interest. Strong profile offers a cheap rate on behalf of PaySense Company.
Repay Term: The longest repayment term increases the interest rate. Lenders give cheap ROI for short-term loan borrowers. So, loan terms are one of the key factors for different ROI.
Borrower Profile: The customer with good banking and a complete business profile applicable to lower interest rates. The borrower profile decides on the change rate of interest.
Requirements for Eligibility
- Age: 21 to 60 years of applicant
- Report of CIBIL Score: 720+ or above
- Income Tax file with a minimum 2.5 lakh yearly income
- The average bank account maintenance balance should be Rs. 8,000 or above.
Documents for PaySense Business Loan
- Identity Proof: Pan Card
- Address Proof: Aadhaar Card
- 2 years latest ITR file Acknowledge copy
- A recent copy of the Trade License
- Applicant’s latest bank statement of 6 months
FAQs
Which location PaySense business loan available?
PaySense covers all India locations with a list of active PIN codes. To know the active PIN code in your area, contact with 24hr Loan customer representative.
What is the updated PaySense business loan interest?
PaySense provides a competitive rate of interest for business loan products. Get 16.80% to 30.90% interest rate per annum. In some cases, the borrower gets 27.00% ROI per annum.
How much business loan is offered by PaySense?
Secure funds up to Rs. 7.5 lakh business loan with PaySense business loan category. The minimum Rs. 50,000 loan amount the borrower may obtain.
What is the foreclose charge PaySense taking?
PaySense charges 4% of the borrower’s total due loan amount to foreclose the loan amount.