Whenever you face unexpected expenses and require quicker access to funds, Poonawala Fincorp is the solution. It provides a hassle-free solution to your problem whether you want to raise a 3 Lakh or a 4 Lakh Loan. It helps you raise funds with simple application process, minimal documentation, and instant loan disbursal. The loan availed can be used for any of the purposes like paying utility bills, medical expenses, home renovation, education, etc. It comes with a competitive rate of interest, flexible repayment methods, and zero hidden charges, making the financial journey convenient and smooth.
Poonawalla Fincorp Personal Loan Highlights | |
Interest rate | 9.99% p.a. onwards |
Loan amount | INR 1 lakh to INR 30 lakh |
Repayment tenure | 1 to 5 years |
Processing fee | Maximum up to 2% of the loan amount |
Reasons to Avail a Personal Loan
- Home Renovation – One can bear the costs of home renovations, whether he/ she wants to rebuild a kitchen, build a new balcony, or make any other alterations or modifications to the home.
- Fund your child’s higher education – A Personal Loan can also be taken out to cover the cost of your child’s higher education, like admission fees.
- Bear medical bills- Medical emergencies can happen to anyone, and bearing the same unexpected takes a toll on the finances. Even if one has health insurance, it may not include all medical expenses in case of an emergency.
One should have sound financial assistance to pay off the hefty medical bills, and in such cases, Poonawalla Fincorp provides a quick medical emergency loan with a flexible loan tenure.
- Wedding Expenses – Nowadays, weddings have become quite expensive. One can take out a loan that covers all the high-cost wedding expenses.
- Travel Expenses- In case you are planning a trip in India or abroad and are finding ways to pay for it, a personal loan for travel is the right option for you.
Features of Poonawalla Personal Loan
Mentioned below are the features of Poonawalla Personal Loan:
- No collateral Security Required
One can raise the required funds without pledging any collateral security. He/she can keep full possession of the assets, and the money can be borrowed online without any complications.
- Flexible repayment tenure
It offers a flexible repayment tenure that ranges between 12 to 60 months. Also, one can choose the tenure based on his/ her repayment capacity.
- Attractive interest rates
The personal loan can be availed at an attractive rate of interest, which ensures the money would be saved by paying lower EMIs.
- Minimal documentation
As it is considered an unsecured loan with no collateral, it requires minimum documentation, making the documentation process relatively simple and fast.
- Multi-purpose, i.e. a higher amount of loan with no restrictions on end usage
One can access a loan amount of up to INR 30 Lakh, which can be used for varied purposes, like medical expenses, home renovation, higher education, and more.
- Zero foreclosure or pre-payment charges
There are no prepayment or foreclosure charges if the payment is made from one’s own sources. Hence, borrowers can prepay their loans to reduce the debt burden without paying any additional charges.
- No hidden charges
There’s nothing hidden, as all loan terms and conditions are transparently presented. There are no additional charges levied in the case of Poonawalla Personal Loan; you are required to pay what has been communicated transparently to you.
- Quick approvals
The loan application process is quite tedious and time-consuming, but we offer our applicants a seamless experience. This is assured due to our relaxed and minimal eligibility criteria, which makes the loan application process faster and quicker. The loan application gets sanctioned instantly and disbursed in no time.
- Easy and hassle-free process
The use of technology minimises the efforts of loan applicants, and the user-friendly online journey allows users to apply for personal loans in just a few easy steps.
Processing Fees
Mentioned below are the processing fees and charges associated with Poonawalla Fincorp Personal Loan:
- Prepayment/part prepayment/foreclosure charges
Foreclosure charges | NIL |
Prepayment charges | NIL |
Part prepayment charges | NIL |
- Other fees and charges
Late payment charges | 2% per month |
Cheque bounce charges | INR 500 per bounce + GST |
Stamp duty | At actuals |
Eligibility Criteria
Here are the straightforward eligibility parameters you need to meet to apply for a 30000 Personal Loan from Poonawalla Fincorp, making the process convenient and hassle-free.
- The minimum age of an applicant should be at least 22 years at the time of application for a loan.
- The maximum age of an applicant should be a maximum of 57 years.
- Applicants must be citizens of India.
- The minimum take-home per month salary should be at least INR 30,000.
- An applicant should hold a full-time job at a Central Govt, PSU, MNC, Listed, Unlisted Public Ltd, Pvt. Ltd, LLP, or company listed internally.
- An applicant should have at least 1 year of experience in the job.
- An applicant should have at least 1 month of stable employment in the present job.
Documents Required
Mentioned below is the list of documents that are required to be uploaded along with the loan application:
Document Category | Personal Loan Documents Required |
KYC Documents | PAN CardVoter IDAadhaar CardPassportDriving license |
Current Address Proof | PassportRent AgreementUtility bills |
Income Related Documents Required | Current salary slips for the last three months |
Financials Related Documents Required | Bank Statement for the last three months |
Employment Proof | Official mail ID confirmationEmployee ID Card (in case official mail ID confirmation is not possible) |
How to Apply for a Poonawalla Fincorp Instant Loan Online?
Step 1: Click the tab “Apply Now”.
Step 2: Fill out the details as required in the loan application form.
Step 3: Upload the necessary documents.
Step 4: The loan amount will be transferred to the bank account once verification is completed.
Poonawalla Fincorp Limited Personal Loan Interest Rates
Poonawalla understands that affordability is the first preference of any borrower. Hence, it provides personal loan products with nominal interest rates. One can obtain a Poonawalla Fincorp personal loan with an interest rate starting from 9.99%, making it a a smart option even in the case of an emergency loan.