Get Short Term Loan Online With Flexible EMIs
Handle life’s unexpected financial needs with Poonawalla Fincorp’s short-term loans. Whether it's managing medical expenses, funding higher education, or tackling an urgent cash crunch, our loan offers a quick and convenient solution.
With benefits like minimal documentation, a simple application process, lower interest rates, you get hassle-free access to the entire loan amount. Apply now and get the funds you need to maintain smooth cash flow during life’s unpredictable moments.
What is a Short-term Loan?
A short-term loan is a type of credit offered for a brief period, typically ranging from a few months up to a year. Unlike traditional loans that span several years, they are designed to meet immediate financial needs and are usually repaid in smaller, manageable monthly instalments. Such loans can be a lifeline during cash flow gaps, emergencies, or when making time-sensitive purchases.
Short-term loan example: Imagine a small business owner who needs to restock inventory before the festive season but doesn't have the funds upfront. Instead of applying for a lump sum through a long-term business loan, they can take a short-term loan of ₹2,00,000 for six months to quickly purchase stock and repay the loan using profits earned during the sales period.
Features and Benefits of a Short-term Loan
Collateral-free Loan
Quick Approval
No HiddenCharges
No end-useRestrictions
Minimal Paperwork
AttractiveInterest Rate
Short-term Loan EMI Calculator
Plan your monthly loan payments using our online EMI calculator. Simply enter your loan amount, interest rate, and repayment tenure to know the EMI amount instantly. Try it now!
Apply for a Personal Loan Online 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, KYC details and residential details.
Upload Documents
Upload the necessary documents for quicker approval.
On successful verification, the loan amount will be disbursed into your bank account instantly.
Eligibility Criteria for a Short-term Personal Loan
To qualify, ensure you meet the following eligibility criteria:
- Age: Between 21 and 60 years.
- Citizenship: Indian.
- Employment: Full-time job at specified organisations (Central Govt, PSU, MNCs, etc.)
- Work Experience: 1 year or more with at least 1 month at current organisation.
- Net Monthly Salary: At least ₹30,000.
Documents Required for a Short-term Loan
Submit just a few essential documents to apply for the loan:
- KYC Documents: PAN Card, Aadhaar Card, Driving License, Voter ID or Passport.
- Address Proof: Passport, Rent Agreement or Utility Bills.
- Income Documents: Last 1 month salary slip.
- Financial Documents: Bank statement from the last 3 months.
- Employment Proof: Employee ID card or Official mail ID confirmation.
Note: The list of loan documents mentioned above is indicative. You may have to submit additional documents during the loan processing stage.
Short-term Personal Loan Interest Rate and Charges
Get a short-term unsecured loan at attractive interest rates and nominal charges:
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: 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
Why Get a Short-term Personal Loan
A quick Personal Loan is an attractive option as they give easy access to funds with the inherent benefit of repaying the loan within a shorter window. You can use such loans to:
-
Cover emergency medical expenses: Manage urgent healthcare costs with a short-term Personal Loan.
-
Financing your higher education goals: Fund studies for yourself or a family member with our short-term loan.
-
Managing your travel expenses: Finance holidays easily with our collateral-free loan.
-
Consolidating high-interest debt: Merge high-interest debts into one consolidated loan.
-
Paying for home renovation: Avail a short-term loan to cover your home refurbishment costs.
-
Support small businesses: Use short-term business loans for working capital or invoice financing.
-
Lenient credit requirement: Short-term loans are easier to obtain for individuals with less than stellar credit scores.
Happy Customers, Happy Us
I opted for a Loan Against Property balance transfer with Poonawalla Fincorp, and the experience exceeded my expectations. The application process was completely digital, quick, and required minimal paperwork. Getting a significantly lower interest rate helped me reinvest in my business. With better financial flexibility, I was able to scale operations efficiently, leading to a 30% increase in business turnover. Poonawalla Fincorp made the entire journey stress-free, and I highly recommend their services to any business owner looking for smart financial solutions.
Poonawalla Fincorp’s Pre-owned Car Loan made the entire financing process effortless. The loan approval was quick, and the minimal documentation made it even more convenient. Within just a couple of days, the funds were disbursed, allowing me to purchase a well-maintained pre-owned vehicle without any hassle. The repayment options were flexible, and the entire experience was seamless. Thanks to Poonawalla Fincorp, I could get my car without any financial strain. Highly recommended!
Securing a loan to purchase a commercial property with rental income was crucial for my business. Having previously worked with Poonawalla Fincorp, I was confident in their services. The process was incredibly smooth and transparent. The quick disbursement and excellent post-sales support made the entire experience stress-free. Thanks to Poonawalla Fincorp, I now own a prime commercial property in Mumbai, which has significantly boosted my business. Their quick turnaround time and excellent post-sales support made all the difference. I wholeheartedly recommend them to anyone in need.
I had a great experience with Poonawalla Fincorp’s Pre-owned Car Loan. The offered loan amount was as per my expectations, and the entire process was smooth and hassle-free. The documentation was minimal, and the loan was disbursed in just two days! What stood out was the flexibility—repayment was easy, and the EMI structure was well-planned. The loan approval process was straightforward, making it convenient to get the car I wanted without any delays. Overall, the service was excellent, and I highly recommend Poonawalla Fincorp to anyone looking for an easy and quick loan process!
A friend in need, is a friend indeed. Poonawalla fincorp has been like one of those friends for me, who has supported me in my journey. With no hidden charges and no prepayment charges, the company has provided me with the adequate funds I needed for me professional practice. From the loan application process to the disbursal of funds, I did not face any problems. My experience was hassle-free and smooth. Not just me, all my fellow professionals and friends have had a wonderful experience with Poonawalla Fincorp’s Professional Loan.
I am practicing Chartered Accountant (CA) based out of Hubli. There were working capital issues that i was facing like upgrading my firm’s overall infrastructure, hiring well-qualified staff and digitization. Poonawalla fincorp hab been of great support when it comes to funding these requirements. I’ve got one of the best interest rates available in the market, my documentation process was fast & hassle-free. and the digital application process made it very simple to get a Professional Loan as a CA. I recommend to CAs to consider Poonawalla Fincorp for their working capital or any other funding requirements.
I run a chain of farmacy stores with 5 branches in pune. With the growing polpularity of home delivery, my customers were expecting the same from me as well. However, the extra capital requirement made it difficulf for me to hire delivery persons. With Poonawalla fincorp’s Business loan, I am now able to compete with online pharmacy retailers, manage working capital and upgrade my system. My customers have grown 50-60%. The loan applicatipn process is digital, simple and speedy. I was delighted to get my loan amount disbursed quickly, allowing me to upgrade my operationg seamlessly.
Explore Different Types of Personal Loans to Suit Your Needs
Get exclusive access to simplified
Personal Finance
Information at
Poonawalla Fincorp’s
FinHub
Frequently Asked Questions
You can calculate your short-term loan EMIs using the EMI calculator available on the Poonawalla Fincorp website. Just enter the amount, interest rate, and tenure to get an instant estimate of your monthly payments.
A Short-term Loan comes with flexible money usage, transparent charges, and a short repayment period, making them ideal for urgent or temporary financial needs.
Your credit score, monthly income, and employment history affect your loan rates. Strong repayment history and steady income can help you secure a lower rate. Lenders assess overall financial health.
Maintaining a good credit score (700+), stable income, and a clean repayment history can significantly improve your chances of approval and better rates.
Poonawalla Fincorp provide short term loans without any collateral up to ₹50 Lakhs. As such, they are not secured in nature.
The processing fee for a short-term loan is up to 3% of the loan amount, plus applicable taxes. This fee is deducted upfront and will be clearly communicated to you during the loan application process.