Fulfil Your Urgent Expenses With a Long-term Loan
Getting instant funds with a longer repayment tenure helps to meet your urgent expenses without disturbing your monthly budget. From covering your urgent medical expenses to paying your higher education fees, cover all expenses with a long-term loan from Poonawalla Fincorp.
Avail of a collateral-free loan of up to ₹50 Lakh with no end-usage restrictions, competitive interest rates and no hidden charges. Apply now!
EMI Calculator for a Long-term Loan
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Long-term Personal Loan Interest Rate and Charges
Avail of a long-term unsecured loan at attractive interest rates and nominal charges:
| Interest Rate | 9.99%* p.a. onwards |
| Loan Amount | ₹1 Lakh to ₹50 Lakh |
| Loan Processing Fees | Up to 3% |
| Lowest EMI Per Month | Starting from ₹2,124* per Lakh for 60 months |
| Loan Tenure | 12 to 84 months |
| Pre-Payment/Foreclosure Charges | 0%* if paid from own sources 4% if paid from other sources |
| Late Payment Charges | 2% per month |
| Cheque Bounce Charges | ₹500 per bounce plus applicable taxes |
| Stamp Duty | At actuals (as per state) |
| Other Hidden Charges | Nil |
Eligibility Criteria for a Long-term Loan for Personal Use
Meet our simple eligibility criteria:
- Age Limit: 21 to 60 years.
- Nationality: Indian citizen.
- Employment Type: Full-time job at a private or public sector organisation.
- Work Experience: 1 year or more with at least 1 month at current job.
- Net Monthly Salary: At least ₹30,000.
Documents Required for a Long-term Loan
Submit just a few documents to apply for the loan:
- KYC Documents - PAN Card/Aadhaar Card/Driving License/Voter ID/Passport
- Current Address Proof - Passport/Rent Agreement/Utility Bills
- Income Documents - Salary slip (latest)
- Financial Documents - Bank statement from the last 3 months showing salary credit
- Employment Proof - Employee ID Card/ Official mail ID confirmation
Note: The list of loan documents mentioned above is indicative. You may have to submit additional documents during the loan processing stage.
Why Get a Long-term Personal Loan
- Covering your medical expenses: Manage your financial obligations arising from medical emergencies with a long-term unsecured loan.
- Financing your higher education goals: Pay for your or your family member’s higher studies with our long-term loan.
- Managing your travel expenses: Go to your favourite holiday destination easily with our collateral-free loan.
- Consolidating high-interest debt: Combine all your existing debts into a single loan at a lower interest rate and reduce your monthly repayment obligations.
- Paying for home renovation: Avail of a long-term loan to cover your home refurbishment costs.
- Improving your credit score: Repaying the EMIs of your loan on a timely basis allows you to build a good credit history and maintain a high credit score.
Apply for a Long-term Personal Loan
- 1. Click on ‘Apply Now’
Tap the ‘Apply Now’ button to initiate the application process - 2. Enter Details
Enter your DOB, PAN Card number, net monthly income and residential details - 3. Upload Documents
Upload the necessary documents to get quick approval.
Frequently Asked Questions About Long-Term Loan
The maximum tenure for a loan for long-term is 84 months. You can select the loan tenure based on your repayment capacity.
A loan for long-term is a credit facility with an extended repayment period to give you sufficient time to pay off the loan. At Poonawalla Fincorp, we offer a long-term Personal Loan with a repayment period of up to 84 months.
Yes. Your net monthly income plays an important role in securing loan approval, as a higher income reflects a better repayment capacity. The minimum net monthly income for our loan for long-term is ₹30,000.
No, our long-term unsecured loan is available only for salaried employees and salaried doctors, Chartered Accountants (CA) and Company Secretaries (CS).
Many factors influence the interest rate of your personal loan, including your credit score, monthly income, work experience, repayment capacity, etc.
*Terms & Conditions apply
