Calculated EMI*

Navigating through unforeseen financial needs just became easy! With Poonawalla Fincorp, you can get a Personal Loan without pledging collateral. Get up to ₹30 Lakh at competitive interest rates starting at as low as 9.99%* p.a.

Whether you are renovating your home, covering medical expenses, or consolidating debt, our loan empowers you to seize control of your finances and achieve your personal goals. Enjoy a smooth loan journey – from application to disbursal. Apply now!

With Poonawalla Fincorp's EMI Calculator, you hold the key to unlocking financial transparency. This calculator helps you meticulously plan your EMIs, ensuring you are well-equipped to manage your monthly budget.


Poonawalla Fincorp offers one of the most competitive interest rates in the market to support your aspirations, starting at just 9.99%* p.a. Below is a list of the rates and charges:

  • Interest Rate

    0.83% onward p.m.
    (9.99% p.a onwards)

    This rate of interest is prone to fluctuation basis our internal credit and risk policy, and as per an algorithmic multivariate score card

  • Processing Fee

    0% to 2 % Plus

    For processing and assessing your loan application


    0 * Foreclosure

    No charges for prepayment or foreclosure of the loan

Personal Loan Interest Rates 9.99%* p.a. onwards
Loan Amount ₹1 Lakh to ₹30 Lakh
Loan Processing Fees Up to 2% plus applicable taxes
Lowest EMI per month Starting from ₹2,124* per Lakh for 60 months
Loan Tenure 12 – 60 months
Prepayment/Foreclosure Charges 0%* If paid from own sources & 4% If paid from other sources
Default Interest 2% per month
Repayment Instrument Dishonor Charges ₹500 per bounce plus applicable taxes
Stamp Duty At actuals (as per state)
No Other Hidden Charges

Securing a loan with Poonawalla Fincorp is simple, with minimal eligibility criteria, ensuring quick approval and prompt disbursal. The loan is evaluated on five key eligibility factors:

Age Requirement


Citizenship Status


Work Experience logo


Monthly Salary Required

Work Experience

Employment Required

Monthly Income

  • Age - Between 22 to 57 years.
  • Citizenship - The applicant must be an Indian citizen.
  • Employment - Full-time job at specified organisations (Central Govt, PSU, MNCs, etc.) required for eligibility.
  • Work Experience - Minimum 1 year, with at least 1 month in the current job.
  • Monthly Income - Net salary of at least ₹30,000 per month.

To apply for a Personal Loan, just provide the following documents:

  • KYC Documents

    KYC documents

  • Income Proof

    Income proof

  • Address Proof

    Address proof

  • Proof of Employment

    Proof of Employment

  • KYC documents - Government-issued IDs such as PAN Card/Aadhaar Card/Driving Licence/Voter ID/Passport.
  • Income proof - Latest salary slips for the last 3 months and bank statement of the past three months.
  • Address proof - Rent agreement, utility bills, or passport.
  • Proof of Employment - Employee ID card or official mail ID.
  • Salaried Individuals

    Salaried individuals

  • Chartered Accountants

    Salaried Chartered Accountants

  • Doctors

    Salaried Doctors

  • Company Secretaries

    Salaried Company Secretaries

Enjoy a host of features and benefits of getting a loan for personal use from Poonawalla Fincorp:

  • Quick approval

    Quick Approval

  • Minimal Documentation

    Minimal Documentation

  • Zero hidden charges

    Zero Hidden Chargess

  • Flexible repayment Tenure

    Flexible Repayment Tenure

  • Collateral free


  • Zero Foreclosure/Prepayment Charges

    Zero Foreclosure/Prepayment Charges

  • No Usage Restrictions

    No Usage Restrictions

  • Attractive Interest Rates

    Attractive Interest Rates

  • Easy Application

    Easy Application

  • Quick Approval: The funds are quickly disbursed, often within a few days.
  • Minimal Documentation: Submit your KYC documents, income proof, address proof, and employment proof.
  • Zero Hidden Charges: Get a clear breakdown of all fees and charges upfront, ensuring no surprises along the way.
  • Flexible Repayment Tenure: Tailor your repayment plan to your financial comfort, with tenure ranging from 12 months to 60 months.
  • Collateral-free: No need for you to pledge any assets as collateral.
  • Zero Foreclosure/Prepayment Charges: Prepay or foreclose your loan without incurring additional charges.
  • No Usage Restrictions: Use the funds for any purpose.
  • Attractive Interest Rates: Get loans at competitive interest rates, starting at just 9.99%* p.a.
  • Easy Application: Experience a user-friendly application process that guides you through every step.

Now, you can get a loan for your personal needs in just 3 simple steps:

Semi Circle Logo
Apply online

Apply Online

Click on Apply Now and enter all your required contact details.

Semi Circle Logo
Quick approvals

Personal Details

Enter your DOB, PAN card details, monthly income and residential details.

Semi Circle Logo
Application Verification


Application will then proceed for verification and assessment

A loan for personal use can help meet any planned and unplanned expenses:

Home Renovation and Improvement:

A Personal Loan for home renovation can turn your house into a dream home. Redesign your home with our loan scheme to create more space, give your interior a fresh look and let your furniture reflect your personality.

Wedding Expenses:

Weddings in India are grand affairs, and a loan can help you cover the significant costs associated with venue bookings, catering, decorations, and clothing.

Education and Higher Studies:

Let there be no compromise in ensuring the best education. Finance your higher education, tuition fees and living expenses for domestic and international courses with a loan.

Medical Emergencies:

In the absence of adequate health insurance, a personal loan provides a quick solution for unexpected medical emergencies or costly medical procedures.

Travel and Vacations:

Give yourself and your family a well-deserved break. Travel to your dream destinations in India or abroad. Refresh, rejuvenate, and spend quality time with yourself and your loved ones. Plan your travel or vacation using our instant loan.

Purchasing Consumer Durables:

Loans are often taken to buy high-value consumer goods like electronics, furniture, and appliances, especially during festive seasons.

Vehicle Financing:

While specific vehicle loans exist, some prefer personal loans to purchase a two-wheeler or a used car due to their flexibility and quick processing.

Business Expansion:

Entrepreneurs and small business owners sometimes rely on loans for immediate business needs like expanding operations, inventory stocking, or working capital.

Festival and Holiday Expenses:

Festivals are significant in India, and personal loans help in managing expenses related to festivities, including buying gifts, home decor, and other ceremonial expenses.

Consolidate High-Interest Debt:

If you have multiple high-interest debts running, it's better to consolidate them into a single loan with a lower interest rate. It is always easier to remember the due date and other details for a single loan than multiple loans.

What is a Personal Loan?

It is an unsecured lending option that offers quick access to funds. This loan helps you meet various financial needs over a short-term period. Typically, the loan duration ranges from 1 to 5 years.

How to apply for a Personal Loan?

To apply, follow these steps:

  • Step 1: Click on ‘Apply Now’.
  • 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 online disbursal for your loan.
What are the uses of loans for personal needs?

As it is a collateral-free loan, there are no restrictions on its end-use. Some of its common uses are as follows:

  • Buying household appliances
  • Renovating the home
  • Funding higher education
  • Addressing a medical emergency
  • Addressing a general funding shortfall
  • Funding a vacation
  • Funding a wedding
Would it be a good decision to opt for a loan for personal use?

Yes, it is a smart way to get funds without risking your assets. If you have a good credit score and meet eligibility criteria, you can enjoy reasonable rates. However, using the loan for necessary expenses is important for avoiding unnecessary spending or risky ventures.

How to decide on the right loan amount?

While you can avail of a loan of a slightly higher amount to address any unexpected costs, don’t overborrow or underborrow. Overborrowing or Under borrowing will fail to help you achieve your objectives. Instead, you can consider this expert advice: ensure your EMIs don’t amount to more than 10-20% of your monthly income. If you have other existing debt, ensure your total EMIs don’t cross more than 50% of your income. After assessing your financial needs, you should apply for a loan online.

What are the documents required to apply for a Personal Loan?

The documentation requirements are quite simple. You just need to confirm that you fulfil all the eligibility conditions and submit a few basic documents. Once the verification is done, the loan is credited into your bank account within a very short turnaround time. Following is the provisional list of documents required to apply for a loan:

  • KYC documents – PAN Card/Aadhaar Card/Driving Licence/Voter ID/Passport
  • Proof of current address – Passport/ Utility bills/ Rent Agreement,
  • Income documents – Latest salary slip,
  • Financial documents – Bank statement for the past three months,
  • Proof of employment – Official mail id confirmation /Employee ID Card,

Do note the above-mentioned documents list is indicative. Additional documents may be required during loan processing.

How do I prepare for a Personal Loan?

The best way to plan a loan is by assessing your financial needs and calculating the loan amount you require. Use our EMI calculator to check various EMI amounts based on different loan amounts and tenors. Once you compute the monthly instalments, compare them with your monthly income and expenses. Carefully forecast your expenses all through the loan tenure. If you think you can afford to pay the EMIs on time every month, you should apply for a loan. Overborrowing can put a strain on your finances during repayment. So, check this carefully to enjoy an easy and comfortable experience during repayment.

What is the minimum credit score eligibility for a Personal Loan?

Whenever you apply for a loan, any lender looks for eligibility criteria related to age, citizenship, employment, income, etc. Additionally, a lender also checks your credit score. Each lender has its filter for the minimum eligible credit score for a loan. Generally, a score above 750 is very good. At this score, you are likely to get lower rates and a higher loan amount. Below this score, a lender may state a higher interest rate, give a lower loan amount, ask for more documents, or even reject your application.

When is the right time to take a loan for personal use?

The right time to take a loan is when you need it the most. It is a flexible, collateral-free loan that can be used for a variety of purposes. There is no restriction on its end-use. Hence, it should be used responsibly only when you really need it and are confident of repaying it on time.

Why should I choose the Poonawalla Fincorp Personal Loan?

We offer the following benefits:

  • High loan amount of up to ₹30 Lakh.
  • Complete transparency with no hidden costs.
  • Simple and minimal documentation process.
  • Attractive and competitive interest rates.
  • Zero foreclosure or pre-payment charges.
  • Quick approval and easy disbursal.
What is the difference between secured and unsecured loans?

With secured loans, the borrower must pledge collateral. For availing of an unsecured loan, the borrower does not need to pledge collateral. Secured loan usually have end-usage restrictions, while unsecured loans don’t.

How can I apply for a loan online from Poonawalla Fincorp?

Most lenders offer Personal Loans in a short time provided you fulfil the eligibility criteria, furnish required documents, and have a good credit score. If you need a loan online from us, just go to our Application form, fill in the necessary details and submit your documents online. Once the documents and individual details are verified, the loan is sanctioned and disbursed instantly to the borrower’s account.

Can you get two personal loans in one day?

Certainly, it is possible to obtain two loans in a single day. Before pursing this option, you must consider the below mentioned factors:

  • First and foremost, it is crucial to understand the terms and conditions set by different lenders. Each financial institution or lending organization may have its own policies regarding the number of loans an individual can take out in a given period. Some lenders may allow multiple loans while others may have restrictions in place.
  • The feasibility of obtaining two loans in one day also depends on your financial situation and creditworthiness. Lenders assess an individual's credit score, income stability, and debt-to-income ratio to determine their eligibility for a loan. If you have a strong credit history, a stable source of income, and a good debt-to-income ratio, it increases the likelihood of being approved for multiple loans.
  • Another important consideration is the loan application process itself. Applying for a Personal Loan involves submitting various documents, such as proof of identity, address, income, and employment. The verification and approval process can take time. However, some lenders offer online applications and quick approval processes, which may expedite the loan acquisition timeline.
  • It is worth mentioning that taking out multiple loans simultaneously can have financial implications. Each loan comes with its own repayment terms, interest rates, and fees. Managing multiple loan repayments can be challenging and may strain your monthly budget. Therefore, it is crucial to carefully assess your ability to handle multiple loan obligations before proceeding.

In conclusion, while it is possible to obtain two loans in one day, it is important to consider the policies of individual lenders, your financial situation, and your ability to manage multiple loan obligations. Conduct thorough research, assess your financial capabilities, and make an informed decision that aligns with your long-term financial goals.

Co-signer vs co-borrower in a Personal Loan

When it comes to loans, there are two common terms you may come across co-signer and co-borrower. While they may sound similar, there are distinct differences between the two roles as below:

Co-signer Co-borrower
Takes on the responsibility of loan repayment if the primary borrower defaults Shares equal responsibility for loan repayment
Acts as a guarantor for the loan, providing additional security to the lender Actively involved in the loan agreement and has a stake in the loan proceeds
Helpful if the primary borrower has a limited credit history or a lower credit score Can improve the chances of loan approval if one applicant has a weaker credit profile
Does not have ownership or rights to the loan proceeds Has equal rights and ownership of the loan
Provides creditworthiness and financial support to help the primary borrower secure the loan Jointly responsible for making regular payments

Whether you choose a co-signer, or a co-borrower option depends on your specific circumstances and the lender's requirements. It's essential to have open communication and trust with the person you choose to take on either role, as it involves a significant level of financial responsibility.

Can I take a Personal Loan jointly?

Yes, it is possible to take a loan jointly with another individual. Joint loans allow multiple borrowers to apply for and share the responsibility of repaying the loan. This option can be beneficial in several scenarios, such as when the loan amount required exceeds the eligibility of a single borrower or when both individuals have a combined income that strengthens the loan application.

When taking a loan jointly, both borrowers are equally responsible for repaying the loan. They share financial liability and are considered co-borrowers. Lenders assess the creditworthiness and eligibility of each borrower individually, considering their income, credit history, and financial stability.

Some key points to consider regarding joint loans are:

  • Eligibility: Both borrowers must meet the lender's eligibility criteria, including credit score requirements, income levels, and age limits.
  • Loan Amount: Joint loans typically allow borrowers to access higher loan amounts compared to individual loans, as the combined income and creditworthiness of both applicants are considered.
  • Repayment Responsibility: Both borrowers are responsible for repaying the loan. In case of default or non-payment, the lender can hold both borrowers accountable for the outstanding debt.
  • Credit History Impact: The loan and its repayment history will be reflected on the credit reports of both borrowers. Timely repayments can positively impact the credit scores of both individuals, while defaults or late payments can negatively affect both of their creditworthiness.
  • Loan Terms: The terms and conditions of a joint loan, including interest rate, tenure, and fees, are determined by the lender based on the combined creditworthiness and risk assessment of the borrowers.
  • Relationship with Co-borrower: Joint loans are commonly taken by spouses, family members, or close relatives. It is essential to have a strong and trustworthy relationship with the co-borrower, as financial matters and loan obligations are shared.

Can I get a loan in 2 days?

Yes, it is possible to get a loan in as little as two days, depending on the type of loan and the lender's processes. However, the speed at which you can obtain a loan may vary based on several factors, including the loan amount, the documentation required, and the lender's approval process.

Here are some loan types and scenarios where you may be able to get a loan within two days:

  • Personal Loans: Many lenders offer personal loans with quick approval processes. If you meet the lender's eligibility criteria and provide the necessary documentation promptly, you may receive approval and disbursement within a couple of days.
  • Payday Loans: Payday loans are short-term loans designed to provide immediate cash flow. Some payday loan providers may offer quick approval and disbursal, often within a day or two. However, it's important to note that payday loans typically have high-interest rates and should be used cautiously.
  • Pre-approved Loans: If you have a good credit history and a pre-approved loan offer from a lender, the loan disbursal process can be expedited. With pre-approved loans, the lender has already assessed your creditworthiness, making the approval and disbursal process quicker.

It's important to remember that while obtaining a loan in a short time frame is possible, it's crucial to choose a reputable lender and carefully review the loan terms, including interest rates, fees, and repayment conditions. Rushing into a loan without proper consideration can lead to unfavourable terms or financial difficulties down the line.

To increase your chances of getting a loan quickly, ensure that you have the necessary documents readily available, such as proof of income, identification, and address proof. Promptly submit the required information and respond to any queries or requests from the lender to expedite the loan approval process.

What happens to a Personal Loan if the borrower dies?

In the unfortunate circumstance of the death of a borrower, the biggest question that needs to be answered is what happens to the loan repayment. In case a loan is secured, i.e., with collateral, then the repayment needs to be taken care of by the family or next of kin of the deceased. However, most loans are unsecured, so, if a borrower dies, the lender cannot ask the person’s legal heirs to repay the loan. Instead, they have to write off the remaining loan amount balance and close the account. On the other hand, if the deceased person had availed of the loan with a co-applicant, then the responsibility of repaying the loan will fall on the co-borrower/applicant. In either case, the deceased person’s family needs to inform the lender immediately.

Can I get a loan of ₹10 Lakh from Poonawalla Fincorp?

Yes, you can get a loan of ₹10 Lakh. Poonawalla Fincorp offers a Personal Loan ranging from ₹1 lakh to ₹30 lakh.

How quickly can I expect the approval of my loan?

If you meet the eligibility criteria and provide the necessary documentation promptly, you may receive approval and disbursement within a couple of days.

Are there hidden charges associated with Poonawalla Fincorp's Personal Loan?

No, Poonawalla Fincorp is committed to transparency, and there are no hidden charges.

What is the minimum credit score eligibility for a Personal Loan?

The minimum credit score typically required is 750 and above.

*Terms & Conditions Apply

Get Personal Loan in your State

Explore Types of our Personal Loan Arrow Logo

Personal Loan by SalaryArrow Logo

Personal Loan by Salary

We offer loans catering to different salary groups ranging from 30,000 to 1 lakh. Please check out the below-mentioned options to avail of a loan based on your salary:

Personal Loan by SalaryArrow Logo

Personal Loan by Salary

We offer loans catering to different salary groups ranging from 30,000 to 1 lakh. Please check out the below-mentioned options to avail of a loan based on your salary:

Personal Loan by AmountArrow Logo

Personal Loan by Amount

We offer loans catering to different categories ranging from 1 lakh. Please check out the below-mentioned options to avail of a loan by amount:

Personal Loan by AmountArrow Logo

Personal Loan by Amount

We offer loans catering to different categories ranging from 1 lakh. Please check out the below-mentioned options to avail of a loan by amount:

Insightful Personal Loan Blogs Arrow Logo

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