Interest Rate
Starting at 9.99%* p.a.
Loan Tenure
12-84 Months
Hidden Charges
0%

Maximise Savings With a Personal Loan Balance Transfer

Consolidate your existing high-interest loans into a single, more manageable loan at lower interest rates with Poonawalla Fincorp's Personal Loan Balance Transfer. This smart financial move can help you reduce your monthly EMIs, extend your loan tenure, and potentially save thousands in interest payments over time. Apply now!

Why Choose Poonawalla Fincorp

High Loan
Amount
Attractive
Interest Rate
Minimal Documentation
Online
Application
Flexible Loan Tenure
No Hidden Charges

Personal Loan EMI Calculator

Plan your monthly repayments with our easy-to-use EMI calculator. Just enter the loan amount, interest rate, and tenure. Try 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 In Just 3 Steps

Click on “Apply Now”

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

Enter Details

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

Upload Documents

Upload the necessary documents for quicker approval.

Get exclusive offers thoughtfully customised just for you

Eligibility Criteria for a Personal Loan Balance Transfer

Fulfil our simple eligibility criteria to qualify:

  • Age: Between 21 to 60 years.
  • Citizenship: Indian.
  • Monthly Income: At least ₹30,000.
  • Employment: Full-time employment with a private or public limited company.
  • Work Experience: Minimum 1 year, with 1 month in the current company.
  • Minimum Balance: Minimum 6 presentations/transactions.
  • Credit Score: 700 and above.

Documents Required for a Personal Loan Balance Transfer

Submit just a few necessary documents:

  • KYC Documents: PAN Card, Aadhaar Card, Voter ID, Driving License, or Passport.
  • Address Proof: Utility Bills, Passport or Rent Agreement.
  • Income Documents: Salary slips for the last 1 month.
  • Financial Statements: Bank statements for the last 3 months.
  • Employment Proof: Official email ID or employee ID Card.

Interest Rate and Charges for Personal Loan Balance Transfer

We offer our loans at attractive interest rates and transparent 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 ₹2,124* per Lakh for 60 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
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

Benefits of Personal Loan Balance Transfer

  • Get lower interest rates
  • Reduce your monthly EMI
  • Avail better quality services
  • Regain control over your personal finances

Who Can Opt for a Personal Loan Balance Transfer

●    Salaried individuals
●    Salaried doctors
●    Salaried Chartered Accountants
●    Salaried Company Secretaries

Tips for Successful Personal Loan Application

  • Check your credit score
  • Prepare all required documents
  • Provide accurate information
  • Avoid multiple applications

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 a Loan Balance Transfer?

A balance transfer allows you to move your existing Personal Loan from one lender to another, like Poonawalla Fincorp, at a lower interest rate.

What documents do I need for a Balance Transfer?

You will typically need KYC documents, income proof, existing loan statements, and bank statements for the last 6 months to apply for a Personal Loan balance transfer.

Is there a processing fee for Balance Transfer?

Yes, there is a nominal 3% processing fee. This charge applies to the loan amount plus taxes on the charge.

Can I transfer multiple loans to Poonawalla Fincorp?

Yes, you can consolidate multiple unsecured and high-interest loans into a single Personal Loan from Poonawalla Fincorp with a balance transfer.

Will a Personal Loan Balance Transfer affect my credit score?

Initially, there may be a small dip in your score due to the new credit inquiry, but responsible repayment improves your credit score substantially over time.