Calculated EMI*

In today’s time, borrowers expect convenience and speed when looking for a loan from a financial lender. At Poonawalla Fincorp, we understand the need of our customers and offer a Personal Loan that perfectly caters to the new-age borrower. This loan is loaded with lucrative features, benefits, and digital provisions that not only save you time and money but also reduce the effort required to get immediate funds.

We optimize every step of your loan journey to ensure that you have the best borrowing experience, right from loan planning with the online EMI calculator to loan application, disbursal, and repayment. In just a few clicks, you can apply and get a high-value, multi-purpose Personal Loan online in India.


The rates and charges are predefined and are presented with utmost clarity to ensure there are no hidden costs. The loan process ensures that you understand the amount you will have to pay to avail of the personal loan online, and any other charges associated with it.

With a customer-oriented and transparent loan process, you do not have to pay more than the pre-communicated 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

*The annual interest rates and processing fee will vary as per the risk profile of the customers and the selected tenure.

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
Default Interest 3% per month
Repayment Instrument Dishonor Charges ₹500 per bounce plus applicable taxes
Stamp Duty At actuals (as per state)
No Other Hidden Charges

Qualifying for our 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.

Age Requirement


22 years at the time of loan application and not more than 57 years

Work Experience Required

Work Experience

Salaried employees with 1 year of work experience

Citizenship Status



Monthly Salary Required

Monthly Salary

Starting ₹30,000, based on your city of residence

On a side note, you are required to have a good credit 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 good credit score is always favored by lenders and is approved for a Personal Loan at the lowest possible interest rate.

By meeting just these requirements, you can get a Personal Loan approval online.

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 application:

  • KYC Documents

    KYC documents

  • Income Proof

    Income proof

  • Financial Documents

    Financial documents

  • Address Proof

    Address proof

  • Proof of Employment

    Proof of Employment

We Offer Personal Loans For

  • Salaried Individuals

    Salaried individuals

  • Doctors

    Salaried Doctors

  • Chartered Accountants

    Salaried Chartered Accountants

  • Company Secretaries

    Salaried Company Secretaries

We highly value your borrowing experience and have customized our Personal Loan to meet your expectations. 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.

  • Collateral free


  • Multi-purpose usage

    Multi-purpose usage

  • Competitive interest rate & charges

    Competitive interest rate & charges

  • Quick approval

    Quick approval

  • Instant disbursal loan

    Instant disbursal

  • No hidden charges

    No hidden charges

  • No penalty for prepayment or foreclosure

    No penalty for prepayment or foreclosure

  • Flexible repayment plans

    Flexible repayment plans

  • Simple 5 step online application

    Simple 5 step online application

  • Easy-to-use Emi Calculator

    Easy-to-use EMI calculator

Now you can get a personal loan with minimum efforts. Just follow the simple 3-step process mentioned below and get our loan online without any delay.

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Apply online

Apply Online

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

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Quick approvals

Personal Details

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

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Application Verification


Application will then proceed for verification and assessment

A Personal Loan 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.

Therefore, you can apply for a loan online to use the funds for the following reasons:

Host a wedding

Plan the wedding that you have always dreamt of, without worrying about the budget. Make this once-in-a-lifetime event memorable and leave no stone unturned in ensuring that everything is planned and executed perfectly. You can apply for a loan online, to plan and host your dream wedding.

Fund higher education

Let there be no compromise in ensuring the best education for yourself or your family. Our Personal Loan ensures that you don’t have to worry about loan-related paperwork or lengthy processes to apply for to get admission to the institution of your choice and create a bright future for yourself!

Address medical emergency

When a medical emergency strikes, your priority is to get immediate medical care. 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 our instant disbursal loan to pay off your medical-related expenses.

Renovate your home

Apply for our loan online to give your home a new lease of life. Redesign your home with our loan scheme to create more space, give your interior a fresh look and let your furniture reflect your personality.

Pay for overseas travel or vacation

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.

Consolidate high interest debt

If you have multiple high-interest debts running, 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 rather than for multiple loans. You can acquire an unsecured loan of up to ₹30 Lakh with a 60-month repayment period.

What is a Personal Loan?

A Personal Loan is an unsecured borrowing instrument, which allows you to get funds without any collateral. It is usually a short-term loan, with a tenure that can range between 1 year to 5 years. This loan is easy to avail of, and you can get one online from us.

How to apply for a personal loan?

To apply for a Personal Loan and avail best provided by us, 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 a personal loan?

A Personal Loan is a collateral-free loan that can be used for a variety of purposes. There is no restriction 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.

In short, a Personal Loan can have various uses. It can be used to fulfil urgent funding requirements.

Is it a good idea to avail a Personal Loan?

If planned well, a Personal Loan can be a smart way to get funds without risking your personal or professional assets. Although it is slightly higher than secured loans, you can avail reasonable rates if you have a good credit score and meet all the eligibility criteria. However, it is best to take a Personal Loan for meeting critical and unavoidable financial expenses. One should avoid taking it for unnecessary purchases or to invest in risky ventures.

How to decide on the right Personal Loan amount?

If you are looking for a Personal Loan, then you should first choose the ideal Loan amount by considering your needs. While you can avail a loan of a slightly higher amount to address any unexpected costs, don’t overborrow or under borrow. 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 for a Personal Loan from us 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 / Aadhaar Card,
  • 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 Personal Loan 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 Personal 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 Personal Loan?

The right time to take a Personal 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 for a Personal Loan:

  • 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's the difference between secured and unsecured loans?

A secured loan requires collateral to be pledged with the lender. An unsecured loan doesn't need you to pledge any asset. An example of an unsecured loan is a Personal Loan which you can apply online instantly to meet your various financial obligations.

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 Personal 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 Personal 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 Personal 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 Personal 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 Personal Loan jointly with another individual. Joint Personal 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 Personal 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 Personal Loan 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 Personal Loans are unsecure, so, if a Personal Loan 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.

*Terms & Conditions Apply

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