Poonawalla Fincorp Personal Loan


Poonawalla personal loan is an unsecured loan that provides individuals with financial flexibility for a variety of personal needs. Borrowers can use the funds for any purposes such as medical emergencies, travel, education or debt consolidation.

Explore avenues to avail a personal loan in Jamshedpur, empowering you to make informed financial decisions and achieve your goals in this thriving city.

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Poonawalla Fincorp Personal Loan Details

Poonawalla finance personal loan offers borrowers the financial flexibility to achieve their personal and business goals. Helping them get affordable financial aid for their specific needs. Here are important loan details offered by Poonawalla:

Loan amount ₹1 lakh - ₹30 Lakhs
Tenure 12 to 60 Months
Rate of Interest 9.9% - 30% p.a.
Eligible Borrowers Salaried individuals, doctors, chartered accountants & company secretaries.
Purpose Emergency, Wedding, Medical, Personal Use & Others
Disbursal Within a few days (post verification)

Poonawalla Personal Loan Interest Rates

Poonawalla fincorp interest rates start from 9.9% - 30% p.a. offering you affordable borrowing options. Poonawalla interest rates usually depend on various factors such as your credibility, loan amount, tenure, income and more.

Interest rate 9.9% - 30% p.a.
Loan amount ₹1 lakh - ₹30 Lakhs
Note: The above mentioned rates are subject to change with the finance market and differ marginally with the respect to the individual banks.

Poonawalla Fincorp Personal Loan Fees & Charges

There are other fees and charges associated with a Poonawalla loan. Here is an overview these fees and charges:

Processing fee 0% - 2% + taxes
Late payment charges Rs 350
Foreclosure charges 0%(From own source) - 4% (From other source)
Default interest 3% per month
Repayment instrument dishonour charges ₹500 per bounce + taxes.
Stamp duty As applicable to different states.

Poonawalla Personal Loan Eligibility Criteria

The eligibility criteria for Poonawalla loan serve as the foundational requirements for borrowers to meet in order to qualify for the loan. These criteria are:

Age 22 - 57 Years
Nationality Must be an Indian citizen
Employment Must have a full time job in Central Govt, PSU, MNCs, etc
Income Must get ₹30,000 per month.
Credit Score Above 750 (preferred)

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Calculate Poonawalla Fincorp Loan EMI

Determining the EMI for a loan is important as it assesses your ability to repay. An EMI, or equated monthly installment is the monthly payment a borrower makes to a lender. This amount is influenced by factors such as the principal amount, interest rate, and repayment tenure.

You can easily check your loan EMI with precision by utilizing the Personal Loan EMI calculator below. All you need to do is input the loan amount, interest rate and tenure and you will get your estimated EMI.

₹
%
Monthly EMI ₹86
Principal Amount ₹1,000
Total Interest ₹32
Total Amount ₹1,032.00

Year Month Principal (A) Interest (B) EMI (A+B) Balance Loan Paid to Date (%)

You can also determine your EMI amount by calculating using the formula:

EMI=P r(1+r)n/(1+r)n- 1

Here,
EMI stands for equated monthly instalment.
P stands for Principal amount
r stands for interest rate
n stands for tenure

Compare Poonawalla Personal Loan Vs Other Lenders

A thorough comparison of personal loan lenders is important to practice before availing a loan. This approach offers you a range of options, allowing you to select the most suitable lender that aligns with your specific needs. Hence, it becomes crucial to assess Poonawalla loans in comparison to various banks and NBFCs. The following details present the diverse personal loan rates and processing fees offered by different banks and NBFCs.

Banks/NBFCs Interest Rates(p.a.)
Poonawalla Fincorp 9.9% - 30% p.a.
Axis Bank 10.49% p.a onwards
ICICI Bank 10.75% p.a onwards
KreditBee 12.24% p.a onwards
HDFC Bank 10.05% to 21% p.a

Read More

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Note: The above mentioned rates are subject to change with the finance market and differ marginally with the respect to the individual banks.

Features & Benefits of Poonawalla Personal Loan

The Poonawalla finance personal loan offers many important features and benefits, which are:

Varied Loan Amount

Get loan amounts ranging
from 1 lakh to 30 lakhs.

Quick Approvals

Get the loan you need
within a few days.

Collateral-Free

No need to pledge your
assets as collateral
for the loan.

Zero Hidden Charges

Get a clear and complete
breakdown of all fees
and charges.

Attractive interest rate

Enjoy low interest rates
starting at 9.9% p.a.
onwards.

Flexible Repayment

Get your repayment plan
tailored to your financial
capabilities.

Types of Poonawalla Personal Loan

Poonawalla offers a wide range of personal loans that individuals can benefit from, these are:

Poonawalla Unsecured Personal Loan

A Poonawalla unsecured personal loan does not require a borrower to pledge any asset against the loan as collateral. You can avail an unsecured personal loan from Poonawalla for up to 30 Lakh. The requirements that need to be met are:

Age 22 - 57 years old
Monthly income Minimum ₹30,000
Work experience Must have 1 year of job experience with 1 month of current stable employment.
Employment Must be employed with the Centreal Govt, PSU, MNC, Public Ltd, Private Ltd, LLP, etc

Poonawalla Urgent Personal Loan

An urgent personal loan from Poonawalla offers quick loan processing without any tedious procedures during loan processing. This loan offers borrowers easy access to finances, lightning fast approval and easy eligibility. These eligibility requirements are:

Age 22 - 57 years old
Employment Must be employed with the Central Govt, PSU, MNC, Public Ltd, Private Ltd, LLP, etc
Work experience Must have 1 year of job experience with 1 month of current stable employment.
Monthly income Minimum ₹30,000

Poonawalla Short Term Personal Loan

You can get a short term personal loan when you have an immediate financial requirement that requires a temporary solution. Use a Poonawalla short term personal loan for any purposes without dipping into your savings. The eligibility requirements to avail a short term personal loan are:

Age 22 - 57 years old
Work experience Must have 1 year of job experience with 1 month of current stable employment.
Employment Must be employed with the Central Govt, PSU, MNC, Public Ltd, Private Ltd, LLP, etc
Monthly income Minimum ₹30,000

Personal loan for Chartered Accountants

Chartered accountant professionals can often require finances to cover personal financial obligations. To help them meet their needs, Poonawalla offers personal loans for CA. These loans are collateral-free which you can get at minimal documentation and attractive interest rates. The eligibility criteria are:

Age 22 - 59 years old
Monthly income Minimum ₹20,000
Employment Must be employed with the Central Govt, PSU, MNC, Public Ltd, Private Ltd, LLP, etc
Work experience Minimum 1 year of job experience with 2 months at current employment.

Personal loan for Company Secretaries

This is a multi-purpose loan that is offered to meet the various personal and professional financial requirements of company secretaries. These are collateral-free loans that can be used for any purpose. The eligibility for a personal loan for CS are:

Age 22 - 59 years old
Monthly income Minimum ₹20,000
Employment Must be employed with the Central Govt, PSU, MNC, Public Ltd, Private Ltd, LLP, etc
Work experience Minimum 1 year of job experience with 2 months at current employment.

Personal Loan for Doctors

Poonawalla offers tailored personal loans for doctors for the purchase of medical equipment, expansion of clinics, for studying abroad, or for home renovation. Doctors can avail a loan of up to 30 Lakhs at an interest rate of 9.9% p.a. onwards. The eligibility for this loan are:

Age 22 - 59 years old
Work experience Must have 1 year of job experience with 2 months of current stable employment.
Monthly income Minimum ₹20,000

Personal Loan for Salaried Employees

This loan offers salaried employees financial assistance for any personal requirement. The loan is collateral-free and will help you meet all expected and unexpected costs. The eligibility criteria is as follows:

Age 22 - 57 years old
Work experience Must have 1 year of job experience with 1 month of current stable employment.
Credit score 750 and above
Monthly income Minimum ₹30,000

Instant Loan Online

If you are in need of immediate funds, Poonawalla offers an instant loan of up to 5 lakhs with minimal documentation, zero hidden charges and quick processing. The eligibility criteria for instant loan are:

Age 22 - 55 years old
Annual household income Minimum declared income of ₹3 lakhs.

Small Personal Loan

A small cash personal loan is a loan designed to meet a borrower’s immediate financial goals at a smaller ticket size. The loan amount will typically range from ₹50,000 to ₹5 lakhs at an interest rate of 16% - 36% p.a. The repayment tenure for these loans will also be 6 months up to 36 months. The eligibility criteria include:

Age 22 - 55 years old
Annual household income Minimum declared income of ₹3 lakhs.

Personal Loan for Government Employees

Poonawalla Fincorp offers a specialised personal loan tailored for government employees. Through this loan borrowers can avail up to ₹30 lakhs with low interest rates starting from 9.9% p.a. The eligibility criteria for the loan is given below:

Age 22 - 57 years old
Employment category Must be a full time central, state or district-level employee or PSU employee.
Work experience Must have 1 year of job experience with 1 month of current stable employment.
Monthly income Minimum ₹30,000
Credit score 750 and above

Personal Loan for Home Renovation

You can now give your home a fresh look by renovating it with the help of a personal loan for home renovation. Get loan amounts of up to ₹30 lakhs at minimal interest rates to revamp your living space. The eligibility criteria include:

Age 22 - 57 years old
Monthly income Minimum ₹30,000
Employment Must be an employee of private or public companies.
Work experience Must have 1 year of job experience with 1 month of current stable employment.
Credit score 750 and above

Personal Loan for Wedding Expenses

Have the wedding of your dreams by availing a personal loan for wedding expenses from Poonawalla. Offering borrowers loan amounts of up to 30 lakhs at low interest rates to celebrate their new life journey in style. The eligibility criteria for the loan are:

Age 22 - 57 years old
Work experience Salaried individuals must have 1 year of job experience.
Monthly income Minimum ₹30,000

Personal Loan for Travel

If you have a dream destination you would like to travel to, you can use a personal loan for travel through Poonawalla. Avail up to ₹30 lakhs loan amount that will cover all travel expenses. The eligibility requirements for this loan are:

Age 22 - 57 years old
Credit score 750 above
Work experience Borrowers must have 1 year of job experience and 1 month with the current employer.
Employment Must be salaried or self-employed.
Monthly income Minimum ₹30,000

Personal Loan for Medical Emergency

When a medical emergency occurs, you can always depend on a personal loan to cover the expenses. Poonawalla loans for medical emergencies offer a loan amount of ₹30 lakhs that will cover all healthcare costs. The eligibility criteria are:

Age 22 - 57 years old
Credit score 750 above
Work experience Minimum work experience of 1 or 2 years and 1 month with the current employer.
Employment Must be employed with the central govt, PSU, unlisted public Ltds, MNCs, etc.
Monthly income Minimum ₹30,000

Personal Loan for Women

Poonawalla Fincorp offers specialised financial assistance to women through a personal loan. These loans help women reach their financial goals to fulfil various life requirements. Poonawalla offers loan amounts up to ₹30 lakhs at interest rates starting from 9.9% p.a. The eligibility requirements to avail this loan are:

Age 22 - 57 years old
Monthly income Minimum ₹30,000
Work experience Must have work experience of 1 year and 1 month at the current job.
Employment Must be salaried.

Cash Loan

This is a type of personal loan that will help borrowers meet unexpected finances. Get quick access to cash to fulfil short-term financial goals with an instant cash loan from Poonawalla Fincorp. The eligibility requirements for this loan are:

Age 22 - 57 years old
Employment Must be salaried.
Monthly income Minimum ₹30,000
Work experience Must have work experience of 1 year and 1 month at the current job.

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Steps to Apply For Personal Loan

Applying for a personal loan has become easier and simpler with Buddy Loan. Here are the steps that you can follow to get a personal loan:

  • Step 1: Visit buddyloan.com or Download & install the Buddy Loan app (Android or iOS).
  • Step 2: Open the personal loan application page. Provide the mobile number and enter the received OTP.
  • Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option
  • Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
  • Step 5: Enter your work details (Including company name, years of service and Designation)
  • Step 6: Enter your personal details (Including Full Name, PAN, address DOB & Gender)
  • Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.

Frequently Asked Questions

Getting a personal loan from Poonawalla Fincorp with a bad credit can be challenging. Usually, the lender offers personal loans to people with a credit score of 750 above.

Yes, you can apply for a Poonawalla personal loan if you are self-employed.

The interest rates for Poonawalla personal loan starts from 9.9% p.a. Up to 30% p.a.

The repayment tenure ranges from 12 months to 60 months.

If the prepayment is made from the borrower’s own source then the prepayment charge will be 0%. However, if the prepayment is made from other sources then the prepayment charges can be up to 4%.

You can easily apply for a Poonawalla personal loan through Buddy Loan, or by applying through the website.

On missing a payment, a fee penalty of ₹500 will be imposed.

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