Know everything about our Personal Loan
It is best to borrow in the most informed manner possible. Borrowers may have doubts or misconceptions or looking for more information about certain aspects of borrowing. Here are answers to the most Frequently Asked Questions (FAQs) about the Poonawalla Fincorp Personal Loan.
Our Personal Loan has a range of benefits. Right from a medical emergency, home renovation to higher education and debt consolidation, the Personal Loan can be used for meeting any financial requirement since it has no spending restrictions. This loan is unsecured and easy to avail. Other benefits include one of the lowest interest rates, flexible tenure options, sizable loan amounts, and a 100% digital process.
Yes, you can get an 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.
There are many factors which drive the interest rate for a personal loan. Some of the tips to have best interest rate in loan are as follows:
- Meet all the eligibility criteria and submit the required documents
- Maintain a high Credit Score
- Have a good repayment track record and credit history
- Maintain employment stability and have a steady income
Below are some of the advantages of unsecured personal loan over other loans :
- No need of collateral
- Quick funding time
- Low interest rate
- Flexible loan tenure
The minimum loan amount you can avail of is 1 Lakh, whereas the maximum loan amount is 30 Lakh.
The minimum loan tenure for a Poonawalla Fincorp Personal Loan is 1 year, whereas the maximum tenure is 5 years.
The interest rate on a Poonawalla Fincorp Personal Loan starts at just 9.99%* p.a. which is among the lowest Personal Loan interest rate available in India. Also, you will have to pay a processing fee of up to 2% of sanction amount plus applicable taxes to process the loan application. You can visit our dedicated webpage for a clear breakup of applicable interest rate & charges.
No, there is no additional charge or penalty for foreclosing your loan before the tenure, as long as you make the payments with your own funds.
To get a Poonawalla Fincorp Personal Loan, you only need to submit some basic documents such as KYC documents, address proofs, income documents, etc. The full list of Personal Loan required documents is available online.
To qualify for a Personal Loan, you need to meet all the eligibility terms related to your age, work experience, employment, monthly salary, and citizenship.
You must have a full-time job at a central and state govt., PSU, MNC, Listed, Unlisted Public Ltd., Private Limited Company, LLP, schools and colleges, or companies which are listed internally to get a Poonawalla Fincorp Personal Loan.
To get approved for the loan, you must have at least 1 year of work experience overall with at least 2 months of job stability at your current company.
You must have an annual salary of at least 2.4 lakh to get this loan. This means your monthly take home salary must be at least 20,000.