What is the EMI date for my loan?

PayU Finance - 3rd of every month

IDFC First Bank, Credit Saison (KSF) - 5th of every month

I'm not okay with the EMI date, can you change it?

Unfortunately, there is no option to change the EMI date in your loan application. All PaySense customers have a fixed EMI date.

When will be my first EMI due date? 

For IDFC cases:

• If the disbursal happens within the 18th of the month, then the first EMI will be in the upcoming month

• If the disbursal happens after the 18th, then the 1st EMI will be subsequent to next month

For PayU Finance and Credit Saison(KSF):

• The 1st EMI will be subsequent to next month

• Pre-EMI will be deducted along with the first EMI

What is Pre-EMI? 

All PaySense customers have a fixed EMI date for their loans. However, you do not have to pay your first EMI in the immediately following month. Instead, you have to pay interest for any additional number of days given to you before the next EMI cycle.

For example, if the EMI date is on the 3rd of the month and the loan is disbursed on 26th May, the first EMI will be due on 3rd July, not 3rd June.

During this grace period (26th May to 3rd June in the example), you have access to the funds, but interest is charged for these extra days, and this interest is referred to as Pre-EMI. 

For IDFC cases:

• Pre-EMI will be deducted from the loan disbursal amount

For PayU Finance and Credit Saison(KSF):

• Pre-EMI will be deducted along with the first EMI

You will be able to see the Loan disbursal details on your app.

What will be the late payment fees or penalty charges when customer miss to pay the EMI on time?

Mr./Ms. _________ to know about the charges, you can write an email to support@gopaysense.com, and they will help you with the exact charges.