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Poonawalla Fincorp Personal Loan

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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max. Loan Amt.Upto ₹25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee₹ 6,500
Axis Bank
Low Processing fee
Max. Loan Amt.Upto ₹25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
Kotak Mahindra Bank
Lowest Income requirement100% Digital Process*
Max. Loan Amt.Upto ₹25L
Rate of Interest9.98% - 17.2%
Tenure upto1-5 Years
Processing Fee1.1% - 1.5%

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How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

About Poonawalla Fincorp Personal Loan

  • Poonawalla Fincorp personal loans are offered at competitive rates to meet personal financial needs.
  • Consumers can also experience a completely digital, end-to-end personal loan journey on the Paisabazaar platform.
  • The loan approval is based on the applicant’s repayment capacity and creditworthiness.
  • These loans require no collateral, minimal documentation and come with zero hidden charges.
  • Poonawalla Fincorp personal loans also come with flexible end usage and can be availed to meet any personal financial need.

Poonawalla Fincorp Personal Loan Highlights

Interest Rates 18%-36% p.a.
Loan Amount Rs. 50,000 to Rs. 5 lakh
Repayment Tenure 1 year to 3 years
Processing Fees Up to 3% of the loan amount
Age Criteria Minimum: 21 years, Maximum: 55 years
Foreclosure/Pre-payment Charges NIL (if prepaid from own sources), 4% (if prepaid from other sources)

Poonawalla Fincorp Personal Loan Interest Rate

Poonawalla Fincorp Personal Loan Interest Rate offered through Paisabazaar.com ranges between 18% p.a. and  36% p.a. The final personal loan interest rates offered to the loan applicant would vary according to the credit score, job profile, monthly income, employer’s profile, etc, of the personal loan applicant.

Fees and Charges of Poonawalla Fincorp Personal Loan

Processing Fee

Poonawalla Fincorp charges a processing fee of up to 3% of the loan amount plus applicable taxes.

Prepayment/Part Prepayment/Foreclosure Charges

Foreclosure charges NIL(if prepaid from own sources)4% (if prepaid from other sources)
Prepayment charges NIL (if prepaid from own sources)4% (if prepaid from other sources)

Other Fees and Charges

Late payment charges 2% per month (24% p.a.) on the defaulted EMI amount
Cheque bounce charges Rs 500 per bounce + GST
Stamp duty At actuals

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EMI Scenarios Based on Loan Amount, Tenure & Interest Rate

Here are EMI amounts based on different loan amounts, with an interest rate of 11% and tenure of 3 years and 5 years:-

Loan Amount Tenure Interest Rate (p.a.) EMI
Rs 1 lakh 3-5 11.00% Rs 3,274-Rs 2,174
Rs 5 lakh 3-5 11.00% Rs 16,369-Rs 10,871
Rs 10 lakh 3-5 11.00% Rs 32,739-Rs 21,742

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Types of Poonawalla Fincorp Personal Loans

Personal loan for Chartered Accountants (CA)

  • Purpose: It is a special personal loan scheme for Chartered Accountants for fulfilling their personal and professional needs such as expenses related to wedding, traveling, home renovation, office renovation, a professional course, etc.
  • Loan amount: Up to Rs 30 lakh
  • Repayment tenure: Up to 5 years

Personal loan for Company Secretaries (CS)

  • Purpose: It is a special personal loan scheme for Company Secretaries. Borrowers can use the loan proceeding for meeting their personal and professional needs such as wedding, traveling, office renovation, etc.
  • Loan amount: Up to Rs 30 lakh
  • Repayment tenure: Up to 5 years

Personal loan for Doctors

  • Purpose: It is a personal loan for doctors that can be used to fulfill various personal and professional needs such as home renovation, clinic expansion, traveling, child’s higher education, etc.
  • Loan amount: Up to Rs 30 lakh
  • Repayment tenure: Up to 5 years

Personal loan for Salaried Employees

  • Purpose: It is a personal loan for salaried employees that can be used for meeting various financial needs related to weddings, medical emergencies, home renovation, higher education, etc.
  • Loan amount: Up to Rs 30 lakh
  • Repayment tenure: Up to 5 years

Personal loan for Government Employees

  • Purpose: Personal loan for government employees can be used for meeting various financial needs related to medical emergencies, vehicle purchase, jewelry purchase, traveling, etc.
  • Loan amount: Up to Rs 30 lakh
  • Repayment tenure: Up to 5 years

Personal loan for Home Renovation

  • Purpose: Borrowers can use personal loan for home renovation to meet expenses related to refurbishing their home such as, flooring, painting, tiling, upgradation, remodeling, repair, improvement, extension etc.
  • Loan amount: Up to Rs 30 lakh
  • Repayment tenure: Up to 5 years

Personal loan for Wedding

  • Purpose: A personal loan for wedding can be used to meet expenses related to marriage.
  • Loan amount: Up to Rs 30 lakh
  • Repayment tenure: Up to 5 years

Personal loan for Travel

  • Purpose: Borrowers can use the proceeds of travel personal loan for financing travel related expenses like ticket booking, hotel booking, shopping, etc.
  • Loan amount: Up to Rs 30 lakh
  • Repayment tenure: Up to 5 years

Personal loan for Medical Emergency

  • Purpose: It is a medical loan that borrowers can use to finance their medical expenses.
  • Loan amount: Up to Rs 30 lakh
  • Repayment tenure: Up to 5 years

Personal loan for Women

  • Purpose: It is a loan facility for women that can be used to finance education, medical emergencies, wedding expenses, or any other important need or end goal.
  • Loan amount: Up to Rs 30 lakh
  • Repayment tenure: Up to 5 years

Poonawalla Personal Loan Eligibility Criteria

  • Age: Minimum 22 years at the time of loan application & maximum 58 years at the time of loan maturity.
  • Citizenship: Indian citizenship.
  • Employment: Borrowers must have a full-time job with central/state govt., PSUs, MNCs, listed/unlisted public limited companies, private limited companies, LLPs, schools and colleges.
  • Work experience: Minimum 1 year with at least 1 month employment at the current job.
  • Monthly income: Net take home salary should be Rs 30,000.

Poonawalla Personal Loan Documents Required

  • KYC Documents: Aadhaar Card/PAN Card
  • Address proof: Passport/ Utility bills/ Rent Agreement
  • Income documents: Latest salary slip
  • Financial documents: Salary Credit Bank Statement for the last 3 months
  • Employment proof: Official Email ID confirmation /Employee ID Card ( in case official email ID confirmation is not possible)

How to Improve Chances of Poonawalla Fincorp Personal Loan Approval

  • First, check the personal loan eligibility criteria before applying for a personal loan from Poonawalla Fincorp.
  • Lenders usually consider a credit score of 750 or above and offer lower interest rates to applicants having stronger credit score. Make timely repayments of your credit card bills/EMIs, periodically check your credit report and managing credit responsibly can help improve your credit score.
  • Submit complete documentation, such as recent salary slips, bank statements, identity proof and address proof.
  • Do not switch jobs too often, as it reduces your minimum job tenure criteria set by the NBFC. If you’re new to your job, it’s best to wait until you’ve completed minimum 1 year of job experience and 1 month of stable employment at your current job before applying for Poonawalla personal loan.

Poonawalla Fincorp Personal Loan vs Other NBFCs

NBFCs Poonawalla Fincorp Piramal Finance Tata Capital Aditya Birla Capital
Rates 18%-36% p.a. 12.14% p.a. onwards 11.99% p.a. onwards 10.99% p.a. onwards
Processing Fee Up to 3% if the loan amount Up to 5% of the loan amount Up to 1.25% of the loan amount Up to 4% of the loan amount
Max. Loan Amount Up to Rs 5 lakh Up to Rs 25 lakh Up to Rs 35 lakh Up to Rs 40 lakh
Min. Monthly Salary Required Rs 30,000 Rs 20,000 Rs 15,000 NA

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How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

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FAQs

Poonawalla Fincorp offers personal loans at interest rates starting from 18% p.a. when applying through Paisabazaar.

You can avail a personal loan of up to Rs 5 lakh from Poonawalla Fincorp, depending on your credit profile.

Yes, Poonawalla Fincorp personal loans are unsecured and can be used for various purposes including business expenses, medical emergencies, home renovation, weddings, travel, and more, except speculative purposes.

You can apply for a personal loan from Poonawalla Fincorp through Paisabazaar’s website. Poonawalla Fincorp has partnered with Paisabazaar to offer personal loans at an interest rates starting at 18% p.a. You can also compare offers with other partners and benefit from expert advice that help you choose a personal loan that suits your needs.

Poonawalla Fincorp has not explicitly stated minimum CIBIL score criteria. Applicants with credit scores of 750 or above are often viewed as financially disciplined and, thereby, have lower chances of loan defaults.

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