Personal loan

Personal Loan Frequently Asked Questions

Loan up to 30 Lakhs | Complete Online Process | Quick Approval

It is best to borrow in the most informed manner possible. Both first-time and experienced borrowers may have doubts or misconceptions about certain aspects of borrowing. To address such issues, here are answers to the most frequently asked questions about the Poonawalla Fincorp Personal Loan.

What are the benefits of a personal loan?

Our personal loan has a range of benefits. For one, you can use it as an emergency loan or even a debt consolidation loan because it is unsecured, easy to avail, and has no spending restrictions. Other benefits include flexible tenure options, sizable loan amount, and online loan provisions.

How can I apply for a personal loan?

Learning how to get a personal loan is simple. All you have to do is meet the eligibility criteria, submit the paperwork mentioned in the personal loan document list, and fill an easy online application form.

Can I get instant approval for a personal loan?

Yes, you can get instant approval for a Poonawalla Fincorp Personal Loan. Do note that this benefit is only available to applicants who meet all the personal loan eligibility criteria.

How do I get the best rate for a personal loan?

To get the best rate for your loan, follow these tips.

  • Meet all the criteria and submit the required paperwork
  • Maintain an excellent credit score of 750 or higher
  • Have a good repayment track record and credit history
  • Maintain employment at a reputed company and have steady income
Are there any advantages of unsecured personal loans?

Yes, an unsecured personal loan benefits applicants who have minimal experience with loans or credit. It helps such borrowers get the finances needed to address emergencies or cash crunches as the asset bridges the gap in their financial profile.

What is the minimum and maximum loan amount?

The minimum loan amount you can avail is 1 lakh, whereas the maximum you can avail is 30 lakh.

What is the minimum and maximum loan tenure?

The minimum loan tenure for a Poonawalla Fincorp Personal Loan is 1 year or 12 months, whereas the maximum tenure is 5 years or 60 months.

What are the fees, charges, and interest rate applicable on a personal loan?

When you avail a Poonawalla Fincorp Personal Loan, you will be charged a processing fee to process the loan application. Visit our dedicated webpage for a clear breakup of the interest rate & charges applicable.

Is there a penalty for foreclosing the loan?

No, there is no additional charge or penalty for foreclosing your loan before the tenure, so long as you make the payments with your own funds.

Which documents do I need to submit to get a personal loan?

To get a Poonawalla Fincorp Personal Loan, you only need to submit minimal and basic paperwork. The full list of personal loan eligibility documents is available online.

How do I qualify for the personal loan?

To qualify, you need to meet all the personal loan eligibility terms related to your age, work experience, employment, monthly salary and citizenship.

What type of company do I need to work for to get a loan?

To get the Poonawalla Fincorp Personal Loan, you must have continuity in an approved company for at least 2 months.

What are terms related to job continuity applicable on the loan?

In order to get approved for the loan, you must have at least 1 year of work experience in your profession with at least 2 months stability at your current company.

What is the minimum annual salary required to get a loan?

You must have an annual salary of at least 2.4 lakh to get this loan. This means your monthly salary must be at least 20,000.

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