Scam – Paysense offers instant loans to millennials, with hassle-free use of the app

Note: As mentioned at the end of the story, this is a sponsored story. But, it is not really sponsored and we ask our readers not to trust the company and opt for its services. We don’t get paid for promotional services, so it’s easy to see if the company is financially trustworthy.

Earlier:

For every middle class family, especially the millennial age group, has more demands at the end of the month, to pay the bills, to make payments that suddenly come up, and that’s when- where most would resort to the dreaded credit cards which become more of a burden, thanks to the number of charges incurred for that certain payment and in case the credit card bill payment is not paid on time, this forces users to opt for EMI payments or be slapped with late fees that add to the overall charge.

The millennial age group doesn’t realize this initially, but after a few repeated similar payments, they realize that it’s not only hurting their pockets, but every late payment or one missed payment hurts the rating. credit, preventing them from obtaining loans in the future. . The problem is not just the credit card companies charging high fees, but it’s the negligence and carelessness of users who feel this is the only solution to their problem right now, when there are actually easier and better ways to refund the pending charges.

Not being able to pay credit card bills or any pending payments causes long-term issues, including changing plans for the future in terms of business, where you have to tie your hands knowing how you could go into more debt and have to rely on those heavy credit companies. This is where instant loan platforms have taken good credit by being a viable solution. Paysense is one such platform that has done exactly this quick loan job regardless of the user’s credit rating.

Paysense is a technology and data science company that focuses on offering personal loans in the range of Rs. 5,000 to Rs. 200,000, which is the range most people with payments at short term end up needing. Compared to traditional credit card companies or even banks that offer loans, Paysense has many advantages.

For starters, banks don’t offer loans to users who have a short-term need, as simple as paying for school fees, medical care, travel plans, credit card bills, or even paying rent when they run out of money sometimes. Paysense basically won’t emphasize the necessity of the loan and is open to offering the loan in the short term, knowing that it could be one of hundreds of small reasons that can help the user to avoid fall into credit card traps. fees and charges.

Paysense does not look at expensive loans such as home loans or even business loans, since this is taken care of by banks, have years of involvement from both parties. And of course, it requires a lot of documentation, verification, commitment and trust. On the other hand, the requirement of small notes is what is targeted by the company here, as it is not considered by the big banks.

Being digital in this space, from the first to the last step, from entering the details to submitting the document and receiving the loan amount, is completely digital. There is no physical visit performed by the lender, and this makes it all hassle-free, and users would not only save their time, but also the embarrassment of binding larger engagements with multiple documents with representatives from the lending company come in to assess and then offer the loans.

Another advantage of Paysense over the usual lending companies is that credit history does not play a role here. It offers fast loans even to those who have no credit history. Quick loan disbursement is available for the higher amount requirement and everything is hassle-free as you won’t have to travel around to find the documentation as there is a minimum requirement for it.

Paysense has a guide to make you understand if it is good to pay the credit card debt with a personal loanwhich you can read to understand why this is actually a good option.

How to get a loan from Paysense is a simple process, which includes registering with details, checking loan eligibility to find out how much loan you can get, choosing EMI form to select the right EMI plan for you the best. repay the loan, upload the documents, then get the money back to your bank account. There are no hidden charges as what is shown to you on the EMI plans is what you will pay at the end. The other benefit the user will have is repeat loans because it is one time documentation and once you are ready and good you can apply for loans in the future without repeat downloading and verification of the document.

Currently, Paysense has a presence in over 30 Indian cities and the company works with IndiaInfoLine as a regulated lending partner, and there is potential to expand to other cities across the country. To get a loan, you need to download the Paysense app from the Android Play Store, then you need to create the account and continue with the next steps. The same can also be done on the company’s website.

For larger loan needs, the options are limited and you will still have to opt for traditional banking solutions, but for short term and smaller loan amounts, it is a solution like Paysense that will save you time, your money and also big hassle.

To note: This is a sponsored story.