Long Term Personal Loan

Long-Term Personal Loan Online

Starting @ 9.99%* p.a.

Loan up to ₹30 Lakh | Attractive Interest Rates | Quick Approval | Easy to Apply

A Long-term Personal Loan is the most viable solution to get funds for all your needs. This loan gives you the flexibility to repay the amount over an extended period of up to 60 months, allowing you to keep the EMIs (Equated Monthly Instalment) affordable.

Fulfil your urgent financial needs with a Long-term loan of up to ₹30 Lakh with minimal documentation and ZERO hidden charges from Poonawalla Fincorp. Apply now!


To help fulfil your dreams, Poonawalla Fincorp offer Long-term Personal Loan at the most competitive interest rate in the market, starting at 9.99%* p.a. Here’s a glance at the interest rate, processing fees, and other charges:

Interest Rate 9.99%* p.a. onwards
Amount ₹1 Lakh to ₹30 Lakh
Processing Fee Up to 2% plus tax
Lowest EMI Starting from ₹2,124* per Lakh for 60 months
Tenure 12 – 60 months
Prepayment/Foreclosure Charges 0%* If paid from own sources & 4% If paid from other sources
Default Interest 2% per month
Repayment Instrument Dishonor Charges ₹500 per bounce plus applicable taxes
Stamp Duty At actuals (as per state)
Other Hidden Charges Nil

Our Personal Loan eligibility criteria are minimum so you can get maximum benefit.

  • Credit Score - 750 and above.
  • Age - Between 22 and 57 years.
  • Citizenship - The applicant must be an Indian citizen.
  • Monthly Income - The applicant must earn a minimum monthly salary of ₹30,000.
  • Work Experience - Must have a minimum work experience of 1-2 years.
  • Debt-to-Income Ratio - Income must be higher than the debt obligations to manage the repayment of additional loan.

Note: The eligibility mentioned above list is indicative. Additional eligibility criteria may be required during loan processing by Poonawalla Fincorp.

Our simple documentation process ensures that you don’t deal with a lot of paperwork. You only need to submit a few basic documents, including:

  • KYC Documents: Government-issued ID such as PAN Card, Aadhaar Card, Passport, Driving Licence and Voter ID.
  • Address Proof: Rent agreement, utility bills, or passport.
  • Income Proof: Latest pay slip, bank statement of the past three months or ITR (income tax returns).
  • Employment Proof: Employee ID card, appointment letter, or business ownership documents.

Note: The above-mentioned loan documents list is indicative. Additional documents may be required during loan processing.

You can avail of a Long-term Personal Loan to meet any of your financial obligations. However, here are a few reasons where getting a Long-term Personal Loan can be handy:

  • Funding large expenses: You can use the amount to meet any emergency or aspirational financial requirements like, paying medical bills, home renovation, paying your child’s education fees, etc.
  • Debt consolidation: If you have multiple debts, you can avail of a Long-Term Personal Loan to consolidate them and manage the repayment with a single instalment.
  • Improve credit score: Repaying the loan on time allows you to build a positive credit history and improve your credit score.

Getting a Long-term Personal Loan from Poonawalla Fincorp is easy, it requires no collateral and has minimal documentation needs. It comes with a range of other features and benefits including:

  • Higher loan amount of up to ₹30 Lakh to meet all your financial needs.
  • Extended repayment period up to 60 months, enabling easy monthly instalments.
  • Competitive interest rate starting at 9.99%* p.a.
  • No restriction on end usage; you can use the loan to meet any financial requirement.
  • Fixed monthly instalments allow efficient financial planning.
  • Complete online process allows quick processing and fast approval.

To apply for Long-Term Personal Loan within 5 minutes with Poonawalla Fincorp, follow these steps:

  • Step 1: Click on ‘Apply Now.’
  • Step 2: Fill in the details like – DOB, qualification, residential address, etc.
  • Step 3: Submit all the necessary documents for verification.

Once your documents are verified, the approved amount will be credited to your bank account.

What is the longest term for a Personal Loan?

At Poonawalla Fincorp, we give you the flexibility to choose the Personal Loan tenure as per your repayment capacity. You can avail of a Personal Loan with a maximum tenure of 5 years or 60 months.

What is a Long-term Personal Loan?

As the name suggests, a Long-term Personal Loan comes with an extended repayment period, usually more than three years, enabling you to repay the amount easily. At Poonawalla Fincorp, we offer Long-term Personal Loan for up to 60 months.

How does the rate of interest on long-term loans compare to short-term loans ?

The interest rates for a Long-term Personal Loan are generally higher than for the short-term loans because of the extended repayment period.

What is the duration for which you can apply for a Personal Loan?

You can avail of a Personal Loan for a period ranging from 1 to 5 years as per your repayment capacity.

Does the income of the applicant play any role in getting a long-term loan sanctioned?

Yes. The applicant’s income plays a vital role in getting the Long-Term Personal Sanction as it reflects their repayment capacity. Higher the income, the easier it will be for the borrower to get the loan approved and get favourable repayment terms.

*Terms & Conditions apply

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