Paisa 247

1. Introduction

Paisa247 is not a direct lender. It is a loan comparison and lead-generation platform that helps users compare loan offers from banks and NBFCs in India. The site openly says it is “not a lender” and instead connects borrowers with licensed financial institutions. That distinction matters because Paisa247 does not set the final loan price, repayment schedule, or approval decision. Those come from the lender you choose through the platform.

The service appears designed for borrowers who want to compare multiple offers quickly rather than apply lender by lender. Based on the homepage and FAQ, the platform covers a broad spread of products, from very small short-term loans to larger personal loans, with lender offers on the site ranging from around ₹500 or ₹1,000 at the low end to as high as ₹25,00,000 on some listings, and repayment periods ranging from 1 month to 60 months depending on the lender and product.

For ordinary users, the platform’s strongest point is convenience. One application can surface multiple lender options, and the site claims users may receive many personalized offers quickly. The weak point is the same one found in most marketplaces: product quality varies sharply across lenders. Some listings show moderate annualized rates, while others are extremely expensive short-term products expressed as daily pricing. That means the borrower must review each final lender offer carefully instead of trusting the marketplace format alone.

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2. What kind of organization is this?

Brand: Paisa247
Website: paisa247.in
Operator: The terms page names RIGA MARKETPLACE PAISA247 and provides a Mumbai business address, email contact, and company identification details. The About page describes the service as a loan comparison service, not a lender.

This is best described as a fintech comparison marketplace / loan broker-style lead platform, not a bank and not a payday lender in its own name. The FAQ explicitly states that Paisa247 “is not a loan provider and does not issue loans from its own account.” Instead, it evaluates and compares offers from verified lenders in real time.

The service is aimed at borrowers in India, not the U.S. or other markets. The website refers to Indian banks and NBFCs, requires Indian borrower documentation such as PAN and Form 16 in its lender-information section, and positions itself as a platform “built just for India.”

The process appears to be online only, with a website and mobile app. The platform promotes phone-based comparison, app download, online comparison of EMIs and rates, and a step-by-step digital process. There is no sign of branch-based servicing by Paisa247 itself.

From a market-positioning standpoint, Paisa247 sits between a simple comparison site and a loan-distribution platform. It is trying to solve a real borrower problem: comparing many lenders quickly. That is useful. But because it includes both mainstream personal-loan style offers and high-cost short-tenure products, borrowers need to treat it as a comparison layer, not as a quality guarantee.

3. How the service works

The platform’s flow is simple. You submit one form, the system checks available lenders, and you compare offers side by side. Paisa247 says users can receive loan offers from top banks and NBFCs and compare rates, EMIs, and terms. The About page also claims that users may receive a large number of personalized offers very quickly.

Paisa247 itself does not issue payday loans, installment loans, or salary advances under its own balance sheet. Instead, it hosts or routes users toward third-party lenders offering a range of products. On the homepage, visible lender examples include short-term digital cash products with tenures as short as 1 to 2 months, medium-duration personal loans, and larger personal-loan offers up to 36 or 60 months. That means the platform is not one product. It is a marketplace for many product types.

Approval speed depends on the lender, not Paisa247. The site emphasizes quick comparison and fast digital flow, but the actual credit decision, document review, and fund transfer are lender-side. That said, the platform markets speed aggressively, and the app page says the process is user-friendly and built for fast comparison.

The process is fully online from the platform side. Users can submit one quick form, compare offers digitally, and move forward without physical visits to Paisa247. The final lender may still require KYC, income proof, and bank validation before disbursing funds.

4. How to get a loan

Step 1: Create a request

Paisa247 says you can start with a quick digital form and receive lender offers through the site or app. The About page emphasizes that only essential information is requested upfront.

Step 2: Fill in personal and financial details

Although the homepage does not expose every form field, the lender-information page shows the type of documentation lenders typically expect: PAN, proof of identity and address, bank statements, salary slips, Form 16, or income-tax returns. That strongly suggests the application process is data-rich enough for real underwriting, not just a lead form with name and phone number.

Step 3: Identity and income verification

For salaried borrowers, the site lists PAN, address proof, three months of bank statements, three months of salary slips, and Form 16 or tax records. For self-employed borrowers, it lists PAN, address proof, bank statements, tax returns, and CA-certified or audited financial statements. In practice, this means approval is not “instant no-doc lending.” Real documentation is often required before final funding.

Step 4: Compare lender offers

This is where Paisa247 is actually useful. The platform promises side-by-side comparison of interest rates, EMIs, and terms. That allows a borrower to see whether a cheaper structured loan is available before accepting a more expensive short-term product.

Step 5: Choose the amount and tenure

The lender catalogue on the homepage shows how wide the choices can be. Some products are around ₹2,000 to ₹25,000 and very short-tenure. Others range up to ₹10,00,000 or ₹25,00,000 with longer tenure. This means the amount and term are not standardized by Paisa247. They depend on the lender and your profile.

Step 6: Review and sign the lender agreement

The terms page says you will receive complete, accurate information about APR, all fees, and the Key Facts Statement before signing a loan agreement. That is the stage where the borrower should stop, read, and compare, rather than accepting the first approval.

Step 7: Receive the funds

Paisa247 is not the lender, so disbursal timing depends on the chosen bank or NBFC. The platform’s value is speed of comparison; the actual money movement happens through the selected lender.

Is approval automatic or manual?

There is no single answer. Marketplace matching is automated, but actual credit approval depends on lender underwriting. Some digital lenders may use automated decisioning, while banks and NBFCs may combine automation with manual checks. The documentation requirements shown on the site strongly suggest real underwriting is involved.

Can bad-credit borrowers apply?

Possibly, but this is lender-specific. Paisa247 does not promise guaranteed approval. It is more accurate to say that the platform gives access to many lender types, some of which are likely more flexible than traditional banks. Borrowers with weaker profiles may still find offers, but often at higher cost.

5. Loan requirements and eligibility

The clearest public eligibility details appear on the lender-information page. For salaried applicants, expected documents include proof of identity and age, PAN, proof of residence, three months of bank statements, three months of salary slips, and Form 16 or tax returns. For self-employed applicants, expected documents include PAN, address proof, bank statements, income-tax returns, and CA-certified or audited business financials.

That implies several practical eligibility conditions:

Requirement area

What Paisa247 materials indicate

Identity

Proof of identity and age required

Residency

Proof of residence required

Tax identity

PAN required

Income proof

Salary slips or tax returns

Banking proof

3 months of bank statements

Self-employed eligibility

Yes, with heavier documentation

These are not trivial requirements. Paisa247 is easier than visiting lenders one by one, but it is not a no-document shortcut. Salaried users are clearly supported, and self-employed users are also included, but they usually need more paperwork.

Minimum age and exact income thresholds are not clearly published on the accessible pages reviewed, so those remain lender-specific and should be checked at application stage. The site does, however, make clear that lender matching depends on individual circumstances such as income and credit score.

6. Loan terms and conditions

This is where Paisa247 becomes useful but also potentially dangerous if the borrower rushes.

Range of products shown on the site

The homepage shows lender examples with very different structures. A few examples include:

• ₹5,000 to ₹1,00,000 at up to 36% p.a. with 1 to 2 months tenure

• ₹30,000 to ₹25,00,000 at 1.1% per month with 1 to 36 months tenure

• ₹25,000 to ₹3,00,000 at 18% to 54% p.a. with 3 to 60 months tenure

• ₹2,000 to ₹25,000 at 2.33% per month with 2 to 12 months tenure

• offers priced at 0.3% to 1% per day also appear in the catalogue.

That spread tells you two things. First, Paisa247 is not one product. Second, some listed products are clearly mainstream personal-loan style, while others are expensive short-term digital-credit products.

Platform-wide APR framing

The FAQ and contact snippets state that flexible repayment terms typically range from 6 to 60 months, and that the minimum APR can start at 9.99% and reach 44% p.a. for the types of offers highlighted there. The terms page also gives an illustrative example showing a maximum 40% APR over 24 months.

Fee structure

Paisa247 says it does not charge for using the service. The exact cost of each loan depends on the borrower’s application, credit score, income, and lender policy. That is good marketplace transparency, but it does not eliminate lender fees. The actual lender can still charge processing fees, late fees, penal interest, and other charges disclosed in the Key Facts Statement.

Early repayment, rollover, late payment

The public pages reviewed do not publish one uniform early-repayment or rollover policy because Paisa247 is not the lender. Borrowers need to review the selected lender’s Key Facts Statement and agreement. This is especially important where very short tenures or daily-rate pricing appear.

Loan terms summary

Term category

What can be stated safely

Minimum visible loan size

As low as ₹500–₹5,000 on some listings

Maximum visible loan size

Up to ₹25,00,000 on some listings

Typical repayment window

From 1 month to 60 months depending on lender

APR / rate range

From 9.99% p.a. in FAQ examples to very expensive daily-priced products in catalog

Paisa247 service fee

Free to use

Final cost disclosure

Must be shown before signing

7. Supported payout methods: how users can receive the loan

Because Paisa247 is a comparison platform rather than a lender, disbursal is controlled by the selected bank or NBFC. The accessible pages do not publish one universal payout menu for all lenders. Still, for Indian digital lending, the practical default is bank-account disbursal, and the documentation requirements include bank statements, which strongly suggests account-based funding is standard.

Payout method

Confirmed platform-wide?

Practical reading

Bank account transfer

Not stated as one universal rule, but strongly implied

Bank card

Not confirmed

Wallet / UPI

Not confirmed platform-wide

Cash pickup

Not indicated; unlikely

For borrowers, the right working assumption is that the receiving account must match the borrower’s identity and KYC records, because formal identity, PAN, and bank proofs are part of the process. Third-party accounts should be treated as unlikely unless a lender explicitly allows them.

8. Supported repayment methods: how to repay the loan

Repayment is handled by the chosen lender, not by Paisa247. The site does not publish a platform-wide repayment menu because it does not service the loans itself. That means repayment can differ by bank or NBFC: auto-debit, NACH, bank transfer, app payment, or lender portal are all possible, but none should be assumed without checking the actual agreement.

Borrowers should expect to need:

• loan account or contract number

• borrower ID / registered mobile number

• bank account details for auto-debit if applicable

• exact EMI amount and due date

• proof of payment after each transaction.

Because repayment rules are lender-specific, the safest practical habit is to save the sanction letter, Key Facts Statement, repayment schedule, and payment confirmations. That matters even more when using short-tenure digital-credit products where delays can become expensive quickly.

9. Advantages and disadvantages

Advantages

Disadvantages

Free comparison service

Not a direct lender, so no standard product quality

Wide lender network across banks and NBFCs

Offer quality varies sharply

Useful for comparing EMI, rate, and tenure side by side

Some listed products appear very expensive

Supports salaried and self-employed applicants

Documentation can still be heavy

Mobile app available

Final servicing depends entirely on the lender

These tradeoffs are the heart of the platform. Paisa247 can save time and improve comparison quality, but it does not remove the borrower’s responsibility to reject bad offers.

10. Who this service may suit

Paisa247 may suit:

• salaried borrowers comparing personal-loan offers

• self-employed users who can provide tax and bank documents

• borrowers who want structured EMI options rather than one emergency cash product

• users who want to compare banks and NBFCs in one place

• small business users looking for modest funding or inventory support.

It may be a poor fit for:

• borrowers who want one simple guaranteed product with fixed terms

• users hoping for no-document borrowing

• borrowers likely to pick the fastest approval rather than the safest cost

• people who cannot manage high-cost short-term credit if that is what the comparison returns.

11. Risks and important things to check before applying

The biggest risk is confusing a comparison platform with a quality guarantee. Paisa247 can show useful options, but it can also expose users to high-cost short-tenure products if they filter only by speed.

The second major risk is focusing on eligibility instead of total cost. A product priced at a daily rate or very short tenure can become expensive quickly even when the starting loan amount is small. Borrowers should compare APR or monthly cost, processing fees, late fees, and total repayment amount, not just approval speed.

The third risk is repayment mismatch. A short loan with a high EMI can solve today’s shortage but create next month’s pressure. The right question is not “Can I get approved?” but “Can I repay this without creating another cash crisis?” That is especially important when short-tenure products sit next to longer structured loans on the same comparison page.

12. Customer support and communication channels

Paisa247 does provide visible corporate contact details. The terms page lists a Mumbai office address and email contact. The site also has a mobile app page and contact page, which suggests a real operating business rather than an anonymous lead page.

That said, support is split. Paisa247 can support the comparison layer, but once you choose a lender, repayment, servicing, restructuring, and complaint handling move to that lender. Borrowers should therefore judge both the platform and the final lender, not just the platform.

13. FAQ

What is Paisa247?

Paisa247 is a loan comparison platform for India. It is not a lender and does not issue loans from its own account.

Is Paisa247 a direct lender or a broker?

It is best described as a marketplace / comparison service. It connects users with licensed lenders and does not fund loans itself.

How fast can I get money?

Paisa247 promises quick comparison and fast digital flow, but actual approval and disbursal depend on the lender you choose.

What documents do I need?

For salaried users: PAN, identity and address proof, three months of bank statements, salary slips, and Form 16 or tax records. For self-employed users: PAN, address proof, bank statements, tax returns, and business financials.

Can I get a loan with bad credit?

Possibly, depending on the lender. Paisa247 does not guarantee approval. Marketplace access is broader than going to one bank, but pricing may worsen as risk rises.

What payment systems are supported for receiving money?

The site does not publish one universal disbursal menu. In practice, account-based transfer appears most likely, but the final lender controls this.

How can I repay the loan?

Repayment is handled by the chosen lender, not Paisa247. Follow the lender’s sanction letter and repayment instructions.

Can I repay early?

That depends on the lender. Paisa247 does not publish one universal early-closure rule.

What happens if I miss the due date?

Late-payment treatment is lender-specific. Check the Key Facts Statement and lender agreement before signing.

Is the first loan interest-free?

No platform-wide first-loan free offer was visible in the official material reviewed.

Can I receive money on someone else’s account?

That is not confirmed and should generally be treated as unlikely because KYC, PAN, and bank proof are part of the process.

How do I contact support?

The platform lists a Mumbai address and an email contact, and also promotes a mobile app and contact page.

Is this service safe to use?

It appears more transparent than anonymous lead sites because it identifies itself clearly and says it only works with licensed lenders. But borrower safety still depends on reading the final lender offer carefully.

14. Final conclusion

Paisa247 is best understood as a loan comparison marketplace for India, not as a payday lender or salary-advance provider in its own name. Its strongest features are convenience, breadth of lender access, app-based comparison, and visible business transparency. It is genuinely useful for borrowers who want to compare EMI-based offers and avoid wasting time applying one lender at a time.

Its main limitation is that it mixes very different products under one comparison umbrella. Some offers are normal personal-loan style credit. Others are clearly high-cost short-term products. For that reason, Paisa247 is most suitable for a borrower who can compare carefully, understand total cost, and reject offers that solve today’s problem by creating next month’s crisis.

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