Loan Up to ₹50 Lakh
Attractive Interest Rates
Quick Approval

Get Short Term Loan Online With Flexible EMIs

Handle life’s unexpected financial needs with Poonawalla Fincorp’s Short-term Loan. Whether it’s managing medical expenses, funding higher education or tackling an urgent cash crush, our Short-term Loan offers a quick and convenient solution. From application to disbursal, get quick approvals and minimal documentation. Additionally, get competitive interest rates and end-to-end support to ensure a smooth and hassle-free borrowing experience. Apply now and get the funds you need.

Features and Benefits of a Short-term Loan

collateral icon Collateral-free
Loan
quick icon Quick
Approval
Charges Icon No Hidden
Charges
Use Icon No end-use
Restrictions
Document Icon Minimal
Paperwork
Interest rate icon Attractive
Interest Rate

Short-term Loan EMI Calculator

Plan your monthly repayments with our online 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
12 Months
84 Months

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 Short-term Personal Loan

Meet our simple 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 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:

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 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

Why Get a Short-term Personal Loan

  • Covering emergency medical expenses: Manage the costs arising from urgent medical bills with a short-term Personal Loan.
  • Financing your higher education goals: Pay for your or your family member’s higher studies with our short-term loan.
  • Managing your travel expenses: Go to your favourite holiday destination easily with our collateral-free loan.
  • Consolidating high-interest debt: Combine all your existing debts into a single loan at a lower interest rate and reduce your monthly repayment obligations.
  • Paying for home renovation: Avail of a short-term loan to cover your home refurbishment costs.

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

Does your net monthly income have any role in getting approval for Poonawalla Fincorp’s loan for short-term?

Yes. Your net monthly income plays an important role in securing loan approval, as a higher income reflects a better repayment capacity. The minimum net monthly income for our loan for short-term is ₹30,000.

What is 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. It is designed to meet immediate financial needs and is usually repaid in smaller, manageable installments over a short duration.

What are the documents required for a Short-term Loan?

Documents required for a Short-term Loan include address proof, income documents, financial documents, employment proof and KYC documents. 

What are the eligibility criteria for a Short-term Loan?

To be eligible for a short-term loan, you must be an Indian citizens aged between 21 and 60 years, employed full-time with recognized organizations and should have at least one year of total work experience, including a minimum of one month at their current job, and earn a net monthly salary of ₹30,000 or more.

How can I calculate the EMIs for my Short-term Loan?

You can calculate your short-term loan EMIs using the EMI calculator available on the Poonawalla Fincorp website. Just enter the loan amount, interest rate, and tenure to get an instant estimate of your monthly payments.

What is the processing fee and charges on a Short-term Loan?

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.

What is the repayment tenure of a Short-term Loan?

You can get a flexible repayment tenure of up to 84 months for a Short-term Loan.

What are the advantages of a Short-term Loan?

A Short-term Loan comes with flexible usage, transparent charges, and a short repayment period, making them ideal for urgent or temporary financial needs.

Can self-employed individuals apply for a Poonawalla Fincorp’s short-term loan from Poonawalla Fincorp?

No, our short-term unsecured Personal Loan is available only for salaried employees and salaried doctors, Chartered Accountants (CA) and Company Secretaries (CS).

What are the factors that affect the interest rate of a short-term loan?

Many factors influence the interest rate of your short-term Personal Loan, including your credit score, monthly income, work experience, repayment capacity, etc.