feature and benefits of personal loan

Personal Loan Features & Benefits

Loan up to 30 Lakhs | 100% Digital Process | Quick Approval

A Personal Loan is an unsecured loan that is given to individuals by financial institutions or banks to meet their personal or emergency needs. Personal loans are offered by all financial institutions and banks, and if you are one of those individuals who is considering taking out a Personal Loan, you should first understand some of the important features of Personal Loans.

When the time comes for you to avail a Personal Loan, make sure to get the best in the market. The Personal Loan features offered to you should have all the advantages of a Personal Loan. This is exactly what you get when you choose the Poonawalla Fincorp Personal Loan. Ease of access, online provisions, complete transparency, and simple criteria are just a few of the many Personal Loan benefits we offer to our borrowers.

These are some of the Key Features of a Personal Loan

Security Logo No collateral/security
With this instant Personal Loan, you get the funds you need without pledging any security at all. Keep full possession of your assets and borrow money online without any hassles. It signifies that the lender does not require any collateral. This loan is dependent on your ability to repay it; that is, it is based on your income or salary.
Loan Repayment Logo Flexible repayment tenure
Paying back your loan should be a comfortable experience, and you can experience this convenience with our Personal Loan. Choose a tenure that ranges up to 60 months, and never exceed your budget when repaying the loan.
Interest Rate Logo Attractive interest rates
The interest you pay dictates the cost of the loan, and you should always look for a deal you can afford. We offer a Personal Loan at an attractive interest rate to give you a pocket-friendly borrowing experience.
Documentation Logo Minimal documentation
Since a Personal Loan is an unsecured loan with no collateral, it requires very little documentation. This makes the documentation process for a Personal Loan relatively simple, which is why Personal Loans are approved and disbursed quickly. Lengthy and long-winding eligibility and document criteria can make availing of a loan quite stressful. This is why we only require you to meet simple criteria and submit just a few documents to get loan approval.
Benefits of Loan Multi-purpose high loan amount
With our online Personal Loan, you can fund your every need without any compromises. Access a Personal Loan amount of up to ₹30 lakh based on your profile and meet both small and big-ticket obligations.
Zero Charges Logo Zero foreclosure/pre-payment charges
One of the most important Personal Loan features is that you enjoy interest savings by diverting any disposable income you may have toward loan payments. To make things better, there are no prepayment or foreclosure charges at all.
No Hidden Charges Logo No hidden charges
There’s nothing hidden in our fine print, and all loan conditions are clearly presented. This loan has no additional charges, and you only pay what is clearly communicated.
No Hidden Charges Logo No restrictions on usage
Use this loan to fund any expense as there are no restrictions on usage. It is a multi-purpose loan that is designed to help you meet your needs with ease.
Loan Approval Logo Quick approvals
Loan processing can be taxing and time-consuming, but we promise an uncomplicated experience. Thanks to our minimal and relaxed Personal Loan eligibility criteria, you can avail of quick loans when you need funds. We approve applications instantly and disburse your approved sanction in no time.
Easy loan Logo Easy and hassle-free process
We leverage technology to minimize the effort needed to get a Personal Loan. Apply online for our offering in just 5 easy steps through the user-friendly portal!

With complete flexibility on usage and repayment, you can use the Personal Loan amount to address any expense, big or small. Some of the most common reasons to take an instant Personal Loan are as follows:

  • Renovate a house- Apply for a Personal Loan to cover the costs of home renovations. Whether you want to rebuild your kitchen, build a new balcony, or make any other home modification, we can help.
  • Consolidate existing debt- A very useful benefit of a Personal Loan is the ability to consolidate debts.
  • Fund a child’s higher education- Apply for a higher education loan to help you cover the cost of your child's education. The loan, which is available in substantial sums, is enough to cover necessary educational costs.
  • Pay medical bills- Medical emergencies necessitate prompt financial assistance. In such instances, Poonawalla Fincorp offers a medical emergency loan with flexible payback terms.
  • Host a wedding- As a result of rising inflation, weddings have become more expensive. You can take out a marriage loan, which is a form of Personal Loan with low-interest rates, to cover these high-cost expenses and put on a lavish wedding.
  • Pay travel fees- If you're planning a vacation or a road trip, and you're looking for a means to pay for it without going broke or maxing out your credit card, a Personal Loan for travel is the correct choice for you.

Poonawalla Fincorp's Personal Loan benefits and features are among the best in the industry. We put your needs first and make sure you have a pleasant borrowing experience. This is demonstrated by the convenience of applying for a Personal Loan online, which can be completed in just 5 steps.

  • Step 1: Click on ‘Apply Now’ on our website
  • Step 2: Enter basic KYC details and upload the documents required for a Personal Loan
  • Step 3: Await application assessment and verification
  • Step 4: Receive confirmation on approval
  • Step 5: Approve and authorize Personal Loan online disbursal

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Ever wonder how your friend is so relaxed even after taking debt or loans on his shoulders? Or how did your neighbour manage to send his kid abroad for higher studies? Well, the answer is Personal Loan!

Instant personal loan online
What all can a Personal Loan be used for?

All of us have multiple needs, however a lot of times the current finances may not be enough to address these needs. Thanks to Personal Loans, addressing these needs is possible now. The ease of availing with affordable interest rates makes them stand out as a good financial option. There are multiple needs for which a personal loan can be a good option.

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