A Personal Loan to fulfil all your financial needs
In today’s modern financial market, borrowers expect convenience and speed. At Poonawalla Fincorp, we understand the need of our customers and offer a Personal Loan that perfectly caters to their needs. This loan is loaded with lucrative features, digital provisions, and perks that not only save you time and money but also reduce the effort required to get immediate funds.
In just a few clicks, you can apply for a loan and get a high-value, multi-purpose loan sanction. Within minutes, you can get approved for a Personal Loan at competitive terms and also get online disbursal. Being one of the best Personal Loan finance companies in India, Poonawalla Fincorp optimizes every step of this journey to ensure you have the best borrowing experience right from loan planning with the online EMI calculator to loan application, disbursal, and repayment. So, if you need funds immediately, you can get an instant Personal Loan online with Poonawalla Fincorp.
Various Personal Loan Needs
The Personal Loan from Poonawalla Fincorp can be used to meet any planned and unplanned expenses. There are no restrictions on how you can use the funds from the loan as this is a multi-purpose loan.
You can apply for instant loan online to use the funds for any of the following reasons:
- Host a wedding - Plan the wedding that you have always dreamt of, without worrying about the finances to take care of it. Make this once-in-a-lifetime event memorable for life and leave no stone unturned in ensuring that everything is planned and executed perfectly. You can apply for instant loan online to plan your dream wedding.
- Fund higher education - Let there be no compromise in ensuring the best education for yourself or your family. Poonawalla Fincorp Personal Loan ensures that you don’t have to worry about loan-related paper work or lengthy processes. All you need to do is to apply for instant loan online to pursue higher education and create a bright future!
- Address a medical emergency - When a medical emergency strikes, your priority is to get immediate medical care and Poonawalla Personal loan ensures the same. Use your time and energy to ensure the best course of treatment and recovery, and do not get bogged down by financial worries. You can use an instant disbursal Personal Loan for your medical-related expenses.
- Renovate a home - Apply for Online Personal Loan to give your home a new lease of life. Redesign your home with our Personal Loan to create more space, give your walls, and floors a fresh look and let your furniture reflect your personality.
- Plan for overseas travel or a vacation - Give yourself and your family a well-deserved break with Poonawalla Fincorp Personal Loan. Travel to your dream destinations in India or abroad. Refresh, rejuvenate, and spend quality time with yourself and your loved ones.
- Consolidate high-interest debt - If you have multiple high-interest debts running, consolidate them into a single Personal Loan at a lower interest rate. It is always easier to manage a single loan rather than multiple loans. You can get an unsecured loan of up to ₹30 Lakh with a 60months repayment period.
Calculate your monthly EMI for Personal Loan
Features & Benefits
Collateral-Free | Quick Approval and Disbursal | Flexible Tenure
We highly value your borrowing experience and have customized our Personal Loan to meet your expectations. The features & benefits of a Personal Loan offered by Poonawalla Fincorp make it one of the best choices when you’re looking to get an instant loan online in India. Our Personal Loan is easy to get, offers quick processing and disbursal, has minimal documentation requirements, and provides you with the flexibility required to manage repayment with ease.
Top Features of the Poonawalla Fincorp Personal Loan
- Collateral-free - There is no need to pledge any collateral with us. Focus on your dreams without worrying about your assets!
- Multi-purpose usage - Use the loan for any purpose, we won’t limit the end-use. Right from vacation, wedding, and higher education to medical emergency, home renovation, and debt consolidation; the loan can be used for multiple purposes.
- Competitive interest rate & charges - With Poonawalla Fincorp Personal Loan, you can be sure of getting the best interest rate that is available in the market. Apart from that, other charges and fees are also priced rightly, so that you don’t have to worry about paying too much every month.
- Quick approval - If you fulfil our basic Personal Loan eligibility criteria and have all the required documents in place, loan approvals are given speedily. So, if your need is to get Personal Loan immediately, choose Poonawalla Fincorp.
- Instant disbursal - We realize that time is of the essence, and we disburse the loan instantly once all approvals are in place.
- No hidden charges - Whatever charges are to be paid will be mentioned clearly at the outset. We believe in having complete transparency in all our dealings with our customers. This makes sure that there are no unpleasant surprises or unexpected charges that you end up paying.
- No penalty for prepayment or foreclosure - If you have extra funds and want to prepay your loan partially or fully, you can do so without worrying about any penalty or charges.
- Flexible repayment plans - Select a comfortable repayment tenure between 12 months and 60 months. Go for a tenure that best suits your repayment capacity. So, what are you waiting for? Get instant Personal Loan online from Poonawalla Fincorp to meet your various financial obligations.
- Simple 5 step online application - Applying for a Personal Loan from Poonawalla Fincorp is as easy as 1-2-3! Go to the "Apply Now" section under Personal Loan on our website. Enter your basic KYC details and then upload the required documents. After assessment from our side, you will receive the confirmation. Approve the offer and the loan amount will be disbursed to your bank account directly. This way, you get an instant loan online without any delay.
- Easy-to-use EMI calculator - Before opting for a loan, you must plan it wisely. Check out the EMI you will need to pay every month using the free Personal Loan EMI calculator available on our website. The calculator is very easy to use. Enter all the three values in the calculator, namely Personal Loan amount, interest rate, and tenure to know the exact EMI value.
Eligibility Criteria for a Personal Loan
Qualifying for the Poonawalla Fincorp Personal Loan is easy. You don’t have to meet a long list of eligibility criteria to get loan approval. This makes the loan easy to avail and process, thus reducing delays that could affect disbursal.
All applications are assessed based on 5 main eligibility criteria, which are:
The applicant must be at least 22 years old at the time of loan application and not more than 58 years old at the time of loan maturity.
The applicant must be a citizen of India.
- Work experience
Applicants must have at least one year of work experience and at least two months of stable employment at their present workplace.
- Employer category
Applicants must work full-time for a public/private limited corporation or a limited liability partnership (LLP).
- Monthly income
Applicants must have a minimum monthly income of ₹20,000.
In addition to this, you are required to have a good CIBIL score and credit history. One of the most crucial things that can affect the interest rate on your Personal Loan is your credit score. A loan applicant with a strong credit score is always favorable.
By meeting these few requirements, you can get a Personal Loan approval online.
Documents Required for a Personal Loan
To make the process of getting a Personal Loan online simpler, we require only minimal documentation.
As an applicant, you only need to submit the following documents in your online Personal Loan application:
- KYC documents
- Address proof
- Income proof
- Financial documents
- Proof of Employment
We Offer Personal Loans For
- Salaried individuals
- Chartered Accountants
- Company Secretaries
Frequently Asked Questions
What is a Personal Loan?
A Personal Loan is an unsecured loan, which allows you to get instant funds without needing to pledge your assets. It is usually a short-term loan, with a tenure of 1 to 5 years. This loan is easy to get and you can apply for a Personal Loan online from Poonawalla Fincorp.
Is it a good idea to avail of a Personal Loan?
If planned well, a Personal Loan can be a smart way to get instant funds without risking your personal or professional assets. Repaying a small Personal Loan on time can also help you boost your credit score. Although Personal Loan interest rates are slightly higher than secured loans, you can enjoy affordable interest rates if you have a high credit score and meet all the eligibility criteria.
How to plan a Personal Loan?
The best way to plan an online Personal Loan in India is by assessing your financial needs and calculating the Personal Loan amount you require. Then use the Personal Loan EMI calculator to understand EMI amounts you must pay based on loan amount, interest rates and tenors. Because over borrowing or taking a larger amount than you can afford can put a strain on your finances during repayment. So, check this carefully to enjoy an easy and comfortable experience during repayment.
When is the right time to take a Personal Loan?
Personal Loans are the ideal solution when you have a high-interest debt to repay. If the offered Personal Loan interest is lower than that of your existing debt, it is the right time to take a loan. Personal Loans are an affordable way to consolidate various debts into one. Similarly, you can apply for a Personal Loan online to pay off a large credit card balance. You can also take a loan online or offline to meet any of your financial requirement as it can be used for any legitimate purpose without any restriction.
How to decide on the right Personal Loan amount?
If you are looking for a Personal Loan then you should first choose the ideal Personal Loan amount by considering your financial needs in mind. While you can get a Personal Loan of a slightly higher amount to address any unexpected costs, don’t over borrow or under borrow. Both moves won’t let you achieve your objectives. Instead, you can consider this expert advice: ensure your Personal Loan EMIs should not be more than 10-20% of your monthly income. If you have other existing debt, ensure your total EMIs ideally don’t cross more than 50% of your income. After assessing your financial needs, you should apply for a Personal Loan online to make the most of it.
Why should I choose the Poonawalla Fincorp Personal Loan?
Poonawalla Fincorp is among the best Personal Loan Finance Company that offers the following benefits of a Personal Loan:
- 1. High loan amount of up to ₹30 Lakh.
- 2. Complete transparency with no hidden costs.
- 3. Simple and minimal documentation process.
- 4. Attractive and competitive interest rates.
- 5. Zero foreclosure or pre-payment charges.
- 6. Quick approval and easy disbursal.
- 7. Flexible repayment tenure.
How to apply for a loan?
To apply for an instant Personal Loan to enjoy the best Personal Loan offers provided by Poonawalla Fincorp, follow these steps.
- Step 1: Click on ‘Apply Now’ on our website and fill in the loan application form.
- Step 2: Enter basic KYC details and upload the required documents.
- Step 3: Await application assessment.
- Step 4: Receive confirmation on loan approval.
- Step 5: Approve and authorize Personal Loan online disbursal.
Can I calculate EMIs for my Personal Loan online?
Yes, you can calculate your Personal Loan EMI online by using the EMI calculator. This is a free to use tool available on our website, and it offers instant and accurate results. After calculating your EMI using this tool, you can apply for a Personal Loan online or offline to enjoy the best Personal Loan offers provided by Poonawalla Fincorp.
What's the difference between secured and unsecured loans?
A secured Personal Loan requires a collateral, usually property. An unsecured Personal Loan on the other hand doesn't require you to pledge any asset. An example of an unsecured loan is a Personal Loan that you can apply online instantly to meet your various financial obligations.
How can I apply for instant loan online from Poonawalla Fincorp?
You can apply for a Personal Loan online by going through the official website of Poonawalla Fincorp. Sitting in the comfort of your home you can apply for the loan. Not only the lender provides the best Personal Loan offers but also gives speedy approval.
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