Frequently Asked Questions on Personal Loan
Find out answers for your general queries
Fulfilling your every aspiration is just a step away with our customized Personal Loan offering. To apply for our personal loan just follow this simple process:
- Step 1: Click on Apply Now for simple online application form.
- Step 2: Provide your KYC and Income documents.
- Step 3: Your application will then be processed for verification.
- Step 4: Once it is verified, you get instant loan approval.
- Step 5: That’s it! Loan amount is directly credited in your account.
A Personal Loan can be availed to fulfil any and every financial need, without depending on anyone else. It is a quick, easy and convenient solution in the need of the hour as you:
- Don’t need to provide any security/collateral
- Enjoy competitive interest rates with equated monthly repayments.
- Get quick disbursal with minimum documentation.
On submission of your application form and the required documents as per criteria, you can expect quick approvals and instant disbursal of your personal loan.
Whether you wish to fulfil a long-awaited dream or have an urgent financial need, our multi-purpose Personal Loan helps you do it all with a host of best-in-class benefits of:
- Higher loan amount up to 30 Lakhs.
- No collaterals required for security.
- Attractive Interest Rates with no hidden charges.
- Easy process with minimal documentation.
- Zero foreclosure/pre-payment charges.
To avail our quick personal loan, you only need to meet the basic eligibility criteria:
- Your age should be between 22 and 58 years
- A minimum net monthly salary of 20,000
- Total work experience of 1 year with 2 months’ stability with current employer
- Employed with LLP / Private Limited / Public Limited Company
- Have Indian citizenship.
Personal Loan is a multi-purpose loan. You can avail the loan to fulfil a wide variety of needs such as home renovation, holidays, wedding, education, or even unexpected emergencies.
With Poonawalla Fincorp Personal Loan, you get the required funds instantly through a simple online application process. You enjoy higher loan of up to 30 Lakhs with competitive interest rates along with flexible loan tenure ranging from 12 to 60 months.
Personal loan interest rates at Poonawalla Fincorp are most competitive, making it a smart choice for you to finance your requirements.
The maximum Personal loan amount that one can avail is 30 Lakhs and a minimum of 1 Lakh.
To quickly process your loan application, we would need the following document from the applicant:
- PAN / Aadhaar Card details.
- Electricity Bill / Rent Agreement / Passport.
- Latest month salary slip.
- Latest salary credit bank account statement for 3 months.
- Employee ID Card.
Yes, at Poonawalla Fincorp we offer flexible EMI repayment tenure of up to 60 months.
We have a quick loan approval process. Once you submit all your valid documents, and if you meet the eligibility criteria, we provide instant approvals with disbursement done online in 1 working day.
Personal Loan EMI Calculator is quick and easy, all you need to define are these 3 important
- Poonawalla Fincorp Personal loan amount
- Convenient Tenure
- And, Interest rate
To disclose your income you need to provide the following documents:
- Latest months' salary slip
- Salary credit bank account statement for latest 3 months.
No. Our personal loan offering comes with the flexibility to close the loan any time you wish to; that too without any charges if it is getting closed from your owned funds/savings.
Yes, our personal loan is unsecured; which means you do not need to provide any collateral or security to avail.
To check your eligibility, refer to our eligibility & documentation.
A good credit score has a direct impact on your loan amount eligibility and the rate of interest to be charged. It is hence important to maintain a good credit report.
No. It is mandatory to submit your latest month’s salary slip for income verification to process your loan amount.
Before you apply for a personal loan, here are some factors to be kept in mind:
- Compare and check the best option with respect to loan amount, repayment tenure and other factors.
- Maintain a good credit score because your ability to avail a loan depends on the quality of credit score.
- Keep all your documents ready to ensure a quick and hassle-free application procedure.