Personal Loan: Frequently Asked Questions
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.
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.
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.
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.
To get the best rate for your loan, follow these tips.
- Meet all the criteria and submit the required paperwork
- Maintain an excellent CIBIL score of 750 or higher
- Have a good repayment track record and credit history
- Maintain employment at a reputed company and have steady income
Yes, a secured 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.
The minimum loan amount you can avail is Rs.1 lakh, whereas the maximum you can avail is Rs.30 lakh.
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.
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.
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.
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.
To qualify, you need to meet all the personal loan eligibility terms related to your age, work experience, employment, and citizenship.
To get the Poonawalla Fincorp Personal Loan, you must have continuity in an approved company for at least 2 months.
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.
You must have an annual income of at least Rs.2.4 lakh to get this loan. This means your monthly income must be at least Rs.20,000.
Yes, if you are a working professional such as a doctor, a chartered accountant, or a company secretary, you can get a personal loan for professionally qualified persons. Poonawalla Fincorp offers personal loans to all these profiles. In order to qualify for such loans, you will be required to submit degree certifications to prove your eligibility.