Loan Up to ₹5 Lakh
Quick Approval
No Hidden Charges

Get a Hassle-free Loan in 5 Minutes

Fulfil your urgent financial needs by availing an instant Personal Loan online. Get a loan amount of up to ₹5 Lakh from Poonawalla Fincorp with minimal documentation, quick approval and ZERO hidden charges. Enjoy a flexible repayment tenure of up to 36 months, simple eligibility criteria, and fast disbursal. The entire process happens online, offering convenience and ease of access. Apply now!

Why Choose Poonawalla Fincorp

High loan amount of up to ₹5 Lakh High Loan Amount
Collateral-free Collateral-free Loan
Interest rate icon Attractive Interest Rate
Application icon Easy Online Application
Minimal Documentation Minimal
Documentation
No End-use Restrictions No End-use
Restrictions

Instant Loan EMI Calculator

Our online EMI calculator calculates your monthly instant personal loan repayment amount. The tool is easy to use and gives you instant results. Simply enter the loan amount, tenure, and interest rate to find your EMI amount. Calculate now!

Optimise Your Personal Loan Experience
With Monthly Budget Planning

Monthly Payable Amount₹8,791
Principal Amount
₹50000
Interest Payable
₹5,493

Loan Amount

Interest Rate

%
16%
36%

Tenure

Months
12 Months
36 Months

Apply for an Instant Loan Online

Step 1 icon

Click on "Apply Now”

Tap the Apply Now button to initiate your application.

Step 2 icon

Enter Details

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

Step 3 icon

Instant Disbursement

The loan amount will be credited to your bank account instantly.

Get exclusive offers thoughtfully customised just for you

Eligibility Criteria for an Instant Loan Online

Fulfil our Personal Loan eligibility criteria for quick loan approval:

  • Age: Between 24 and 55 years.
  • Citizenship: Indian.
  • Employment: Salaried and Self Employed, Full-time job with a government entity, public/private limited company, LLP, educational institution, or a company approved by Poonawalla Fincorp.
  • Income: Minimum annual household income (declared) must be ₹3 Lakh.

Documents Required for an Instant Loan Online

Submit just a few essential documents verifying personal details to avail this loan facility:

  • KYC Documents: PAN Card and Aadhaar Card

Interest Rate and Charges for an Instant Loan Online

Poonawalla Fincorp offers an instant loan at attractive interest rates and nominal charges:

Interest Rate
16%* p.a. onwards
Loan Amount
₹50,000 to ₹5 Lakh
Loan Processing Fees
Up to 4.5% + Applicable Taxes
Lowest EMI Per Month
₹1,962 for 36 months
Loan Tenure
12-36 months
Prepayment/Foreclosure Charges
1. Before repayment of first six EMI:
i) If Foreclosure or Prepayment is done including balance transfer from another financial institution – 4 % on amount being prepaid plus applicable taxes.
2) After repayment of first six EMI:
i) If Foreclosure or Prepayment is done from own funds of the Borrower- Nil charges.
ii) If Foreclosure or Prepayment is done any other source including by balance transfer from another bank/financial institution- 4% on amount being prepaid plus applicable Taxes.
Default Charges
24% p.a. + taxes
Repayment Instrument Dishonour Charges
₹500 per bounce plus applicable taxes
Stamp Duty
At actuals (as per state)
Hidden Charges
Nil

Default Charges: Penalty will be charged for nonpayment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.pdf

*T&C Apply

Features and Benefits of an Instant Loan

An instant Personal Loan provides quick access to funds for unplanned expenses. Here are its detailed features and benefits:

Quick Application

Get quick approval for your desired loan by applying for your loan effortlessly through a streamlined online process. With just a few clicks and you can fill out an instant loan application form from the comfort no need to visit a branch.

Minimal Documentation

Submit only the minimal eligibility documents to avail of this unsecured loan. Instant loans require only basic documents, such as KYC documents, to avail of a Personal Loan. This minimal paperwork speeds up the approval process, making it ideal for emergencies or urgent financial needs.

High Loan Amount

Get a loan amount as high as ₹5 Lakhs and cover all your expenses. Whether it’s a medical emergency, home renovation, travel plans, or education expenses. This flexibility allows you to manage large expenses without compromising your financial stability.

No Hidden Charges

Experience transparency throughout the process as all fees and charges, such as processing fees, interest rates, and penalties, are communicated upfront. You won’t encounter any surprise costs, ensuring you can plan your repayments with confidence.

Get Funds Quickly With
Minimal
Documentation

1

Click 'Apply Now' Fill out the online form to start your loan application.

2

Upload Documents Provide your KYC documents to complete the verification.

3

Get Funds Get the loan amount
disbursed to your bank account.

Happy Customers, Happy Us

Get exclusive access to simplified
Personal Finance
Information at
Poonawalla Fincorp’s FinHub

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Frequently Asked Questions

How can I get an instant loan for personal use immediately?

The entire loan application process for an instant Personal Loan is digital, and you can get this loan anytime. Here's how to get an instant Personal Loan online in just 3 easy steps:

  1. Click on ‘Apply Now’.

  2. Fill out the application form.

  3. Upload all the necessary documents.

Upon successful verification, instant funds will be credited to your bank account.

What is the minimum and maximum instant loan amount I can take?

This loan amount varies across lenders and depends on your eligibility factors. The minimum Personal Loan amount you can borrow from Poonawalla Fincorp is ₹50,000, and the maximum is ₹5 Lakh. You also have flexible repayment options, adjusted as per your repayment capacity.

Can I get an instant loan without documents?

No, you cannot avail of an instant loan without documents. However, the documents required are minimal; submit your KYC documents, namely PAN Card and Aadhaar Card, along with a few other basics. These, along with having a good credit score, will help you get instant loan approvals.

How to calculate EMI for an instant loan?

Calculating monthly EMIs beforehand can help to check affordability and manage payments, and is highly advisable. Our online Personal Loan EMI calculator gives you your instant loan EMI amount. Simply enter the loan amount, tenure, and interest rate.

What is the interest rate for an instant loan?

The interest rate for an Instant Loan offered by Poonawalla Fincorp starts at 16% p.a. onwards. Note that you'll pay interest on your loan based on the loan amount, your credit score, and your loan tenure.

What are the documents required for an instant loan?

The documentation with Poonawalla Fincorp is simple; you’ll generally need your PAN card or Aadhaar card as identity proof. In certain cases, you need to show salary slips from one month as income proof and bank statements from 3 months to ascertain your financial background. Finally, utility bills, Passport, or Aadhaar details serve as address proof.

What are the advantages of an instant loan?

Here are some advantages of an Instant Loan: 

  • Instant approvals and fast disbursals

  • Entire process is 100% paperless

  • Competitive interest rates

  • No collateral required

  • Transparent process with no hidden charges

  • Loan Amount of up to ₹5 Lakhs

  • Flexible repayment options

  • Tenures up to 36 months

What are processing fees and foreclosure charges for a loan?

Both these costs are related to taking on a loan; while the first is part of applying for a loan, the latter is a consequence applied by some banks. Processing fees are a one-time cost for loan application handling, while foreclosure charges are incurred if the loan is paid off early. However, many lenders allow advance EMI payments or prepayments to help save on interest.

What is the minimum CIBIL score required for an instant Personal Loan?

The minimum CIBIL score required to avail of an unsecured loan, such as an instant personal loan, is 750 and above.