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 taken by individuals for meeting their varied financial needs. If you are considering taking a Personal Loan, you should first understand some of its important features.

Following are some of the Key Features of a Personal Loan:

Collateral free professional loan logo No collateral/security
With an unsecured Personal Loan, you get the funds you need without pledging any security at all. It helps you to keep full possession of your assets and borrow money online without any hassles.
Professional loan repayment tenure logo Flexible repayment tenure
Paying back your loan should be a convenient, and you can experience this convenience with Poonawalla Fincorp Personal Loan. It comes with a flexible repayment tenure ranging from 12 months to 60 months. You have the freedom to choose the tenure as per your repayment capacity.
Professional loan interest rates logo Attractive interest rates
We offer a Personal Loan at a low interest rate, ensuring that you save money by paying lower EMIs.
Business loan documents required logo Minimal documentation
Since a Personal Loan is an unsecured loan with no collateral, it requires minimal documentation. This makes the documentation process for a Personal Loan relatively simple and faster.
Professional loan disbursal amount logo Multi-purpose high loan amount with no restrictions on usage
With Poonawalla Fincorp Personal Loan, you can access a loan amount of up to ₹30 Lakh. These funds can be used for multiple purposes such as covering medical expenses, renovating a home, financing higher education, etc.
Zero Charges Logo Zero foreclosure/pre-payment charges
We don’t levy any prepayment or foreclosure charges if paid from own sources. Therefore, borrowers can prepay their loan to reduce their debt burden without paying any additional charges.
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 has been transparently communicated to you.
Professional loan approval logo Quick approvals
Loan processing can be very tedious and time-consuming, but we promise a seamless experience. Thanks to our minimal and relaxed Personal Loan eligibility criteria, you can avail of quick loans when you need funds. We approve loan applications instantly and disburse your approved sanction in no time.
Professional loan easy processing logo Easy and hassle-free process
We leverage technology to minimize the effort required to get a Personal Loan. You can apply online for our offering in just a few easy steps through the user-friendly online journey!

With complete flexibility regarding its usage, a Personal Loan can be used to address any expense. Some of the most common reasons for taking an instant Personal Loan are as follows:

  • Renovate a house- Whether you want to rebuild your kitchen, build a new balcony, or make any other home modification, you can apply for a Personal Loan to cover the costs of these home renovation.
  • Fund child’s higher education- Apply for a Personal Loan to cover the cost of your child's education.
  • Pay medical bills- Medical emergencies can take a toll on your finances. Even if you have health insurance, it may not cover all medical expenses during emergency. You may need prompt financial assistance to pay off hefty medical bills and, in such instances, Poonawalla Fincorp offers a quick medical emergency loan with flexible loan tenure.
  • Host a wedding- As a result of rise in inflation, weddings have become more expensive. You can take out a Personal Loan to cover these high-cost wedding expenses.
  • Pay travel fees- If you're planning a vacation in India or abroad, and you're looking for ways to pay for it, a Personal Loan for Travel is the right choice for you.

Poonawalla Fincorp's Personal Loan features & benefits 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 and fill in the personal loan application form.
  • Step 2: Enter your KYC details and upload the documents required for a Personal Loan.
  • Step 3: Await application assessment and verification.
  • Step 4: Receive confirmation on loan approval.
  • Step 5: Approve and authorize Personal Loan online disbursal.

What is a Personal Loan?

It is an unsecured financial offering that you can avail to meet your financial goals. This loan can be used for any personal expenses, without restrictions.

Do I need to submit any assets for a Personal Loan?

As this is an unsecured offering, you don’t need to submit any collateral or assets.

What are the best reasons to take a Personal Loan?

Personal loan is an unsecure loan which comes with huge number of benefits. Some of the common reasons to borrow include paying medical bills, consolidating high-interest debt, funding higher education, and renovating a home etc.

In how many days will my loan get disbursed?

Applicants with a good financial profile and credit history enjoy quick approval of their loan application. In such cases, loan disbursal can happen in just 1 working day after approval.

How much of the loan amount am I eligible for?

Depending on your profile, you can qualify for a sanction of personal loan up to ₹30 Lakh.

Can I borrow money online with this loan?

Yes, once you apply online and get approval, the entire disbursal process happens electronically, and the money is credited to your bank account.

Why should I choose a Poonawalla Fincorp Personal Loan?

The features & benefits of a Personal Loan offered by Poonawalla Fincorp are amongst the best in the market. These features and benefits include lowest rate of interest, zero prepayment charges, completely online process along with full transparency. We prioritize your convenience and ensure that you have a comfortable borrowing experience.

Explore Types of our Personal Loan Arrow Logo

Insightful Personal Loan Blogs Arrow Logo

Contact Us logo Quick Apply CIBIL Score logo Free CIBIL Whatsapp logo Connect on WhatsApp