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Check the charges and eligibility criteria before foreclosing your PaySense Personal Loan. You can close your loan early, subject to applicable foreclosure charges.
Last updated on: Sep 02, 2026
PaySense Personal Loan preclosure enables you to repay the outstanding loan balance before the end of the repayment tenure. If you have surplus funds available, foreclosing your loan can help you become debt-free sooner and reduce the interest payable over the remaining tenure.
Before proceeding, ensure you have completed at least 3 EMIs and consider the applicable foreclosure charges and GST to determine whether preclosure is financially beneficial for you.
Before opting for PaySense Personal Loan foreclosure, it is important to understand the applicable charges and eligibility requirements.
Here are the details:
| Particulars | Details |
|---|---|
Foreclosure Eligibility |
Available after payment of at least 3 EMIs |
Foreclosure Charges |
Up to 4% of the outstanding loan amount + applicable GST |
*Disclaimer: The mentioned charges are subject to change at the lender's discretion.
Prepaying your PaySense Personal Loan can help you reduce your debt obligations and improve your financial flexibility.
Some key benefits include:
By prepaying or foreclosing your loan, you may reduce the total interest payable over the remaining tenure. The earlier you close the loan, the greater the potential savings on future interest costs, subject to applicable prepayment or foreclosure charges.
Closing your loan ahead of schedule can improve your monthly cash flow by eliminating future EMI obligations. The funds that would otherwise go towards repayments can be redirected towards savings, investments, or other financial goals.
Access loans of up to ₹5 Lakhs with rates starting at just 14% p.a. for your financial needs.
If you wish to close your PaySense Personal Loan before the end of its tenure, follow these steps to complete the foreclosure process:
Contact PaySense or your lending partner
Raise a foreclosure request and provide your loan account details for verification.
Request the foreclosure statement
The lender will share the outstanding loan amount along with the applicable foreclosure charges and taxes payable at the time of closure.
Pay the foreclosure amount
Clear the outstanding balance and applicable charges within the validity period mentioned in the foreclosure statement.
Obtain the NOC
After successful payment, collect the No Objection Certificate (NOC) as proof that your loan account has been fully closed.
Disclaimer
Reviewer
You can foreclose your PaySense Personal Loan after completing at least 3 EMI payments. Once you meet this requirement, you can submit a foreclosure request and repay the outstanding loan amount along with the applicable charges.
PaySense charges a foreclosure fee of up to 4% of the outstanding loan amount, along with applicable GST, when you choose to close your loan before the scheduled tenure ends.
PaySense permits loan prepayment and foreclosure subject to its applicable terms and conditions. Before making a prepayment, it is advisable to contact the lender and confirm the latest charges, eligibility requirements, and repayment process.
Yes. Once you have paid the outstanding loan amount and applicable foreclosure charges, you can request a No Objection Certificate (NOC) or No Dues Certificate from the lender as proof that the loan has been fully closed.
Foreclosing your PaySense Personal Loan does not negatively affect your CIBIL score when the loan is repaid in full and closed properly. In fact, timely repayment and successful closure of a loan can reflect responsible credit behaviour.
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