Loan Amount
Up to ₹50 Lakh
Interest Rate
Starting at 9.99%* p.a.
Loan Tenure
12-84 Months

Get a Collateral-free Personal Loan for Higher Education

Are you dreaming of pursuing higher education from a prestigious institution but worried about the financial burden? Look no further! Get a Personal Loan of up to ₹50 Lakh from Poonawalla Fincorp to fund your child’s higher without hassle.

Enjoy collateral-free funds, flexible repayment tenure, attractive interest rates, and zero hidden charges. Apply now!

Why Choose Poonawalla Fincorp

High Loan
Amount
Competitive
Interest Rate
Minimal Paperwork
No End-use
Restrictions
Flexible Loan Tenure
Zero Hidden Charges

Personal Loan EMI Calculator

Check your loan EMIs quickly using our online EMI calculator. Enter the loan amount, tenure, and the rate of interest. Calculate now!

Optimise Your Personal Loan Experience
With Monthly Budget Planning

Monthly Payable Amount₹8,791
Principal Amount
₹100000
Interest Payable
₹5,493

Loan Amount

Interest Rate

%
9.99 %
30 %

Tenure

Months
12Months
84Months

Apply for a Personal Loan Online in Just 3 Steps

Step1

Click on “Apply Now”

Tap the “Apply Now” button to initiate your application.

Step2

Enter Details

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

Step3

Upload Documents

Upload the necessary documents for quicker approval.

On successful verification, the loan amount will be disbursed into your bank account instantly.

Get exclusive offers thoughtfully customised just for you

Eligibility Criteria for a Personal Loan for Higher Education

Fulfil our simple eligibility criteria to qualify:

  • Age: Between 21 and 60 years.
  • Citizenship: Indian.
  • Employment Type: Full-time job with a government entity, public/private limited company, LLP, educational institution, or a company approved by Poonawalla Fincorp.
  • Work Experience: Minimum 1 year, with at least 1 month in the current job.
  • Monthly Income: Minimum ₹30,000 per month.

Documents Required for a Personal Loan

Furnish a few essential documents to get a loan for higher studies:

  • Address Proof: Utility Bills, Passport, or Rent Agreement.
  • KYC Documents: Aadhaar Card, PAN Card, Voter ID, Driving License, or Passport.
  • Employment Proof: Official Email ID or Employee ID card.
  • Financial Proof: Bank statement for the last 3 months.
  • Income Proof: Salary slip for the last 1 month.

Interest Rate and Charges for a Personal Loan

We offer a loan with competitive interest rates and minimal charges:

Interest Rate
9.99%* p.a. onwards
Loan Amount
₹1 Lakh to ₹50 Lakh
Loan Processing Fees
Up to 3% plus applicable taxes
Lowest EMI Per Month
Starting from ₹1,660* per Lakh for 84 months
Loan Tenure
12- 84 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

Who Can Get a Personal Loan for Higher Studies

  • Salaried Chartered Accountants
  •  Salaried Company Secretaries
  • Salaried doctors
  • Salaried individuals

Tips for a Successful Personal Loan Application

  •  Fulfil the eligibility criteria
  • Have all necessary documents ready
  • Improve your credit score
  • Review the loan terms carefully

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

What is the maximum amount of Personal Loan I can get for education?

The maximum amount offered by Poonawalla Fincorp for Personal Loans for higher education is ₹50 Lakh.

How can I get a Personal Loan for studying abroad?

To get a Personal Loan for studying abroad from Poonawalla Fincorp, you can visit the official website and click on “Apply now”. Please refer to the steps mentioned above for the same.

Who is eligible for Poonawalla Fincorp’s education loan?

Anyone who meets our eligibility criteria for a Personal Loan for higher education can apply for a Personal Loan for higher education.