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

What is an Unsecured Personal Loan?

An Unsecured Personal Loan lets you access funds without pledging any asset – no property, vehicle, or fixed deposits required. Instead, your credit profile and income are evaluated to offer a tailored loan amount at competitive interest rates. An unsecured collateral-free loan comes with quick approval, flexible repayment tenure, and zero end-use restrictions.

Why Choose Poonawalla Fincorp

Loan Icon High Loan
Amount
Application Icon Online Application
Document Icon Minimal
Paperwork
Interest Rate Icon Attractive
Interest Rate
Use Icon No End-use Restrictions
Zero Icon Zero Hidden Charges

Unsecured Personal Loan EMI Calculator

Plan your monthly payments instantly with our easy-to-use EMI calculator. Simply enter the loan amount, tenure and interest rates to compute your monthly repayments. Use 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 an Unsecured Loan

Fulfil our simple eligibility criteria:

  • Age Limit: Between 21 and 60 years.
  • Citizenship: Indian.
  • Employment Type: Full-time job at a private or public sector organisation.
  • Work Experience: Minimum 1 year with at least 1 month at current job.
  • Net Monthly Salary: At least ₹30,000 per month.

Documents Required for an Online Unsecured Loan

Submit just a few essential documents:

  • KYC Documents: Voter ID, Driving License, Aadhaar Card, PAN Card or Passport.
  • Income Documents: Salary slip for 1 month and bank statements for the last 3 months.
  • Address Proof: Passport, rent agreement or utility bills.
  • Employment Proof: Official mail ID confirmation or Employee ID card.

Note: The list of documents mentioned above is indicative. You may need to submit additional documents during the loan processing stage.

Interest Rate and Charges for an Unsecured Personal Loan

Get an unsecured loan at competitive 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
Foreclosure/Prepayment 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

Different Uses of an Unsecured Personal Loan

  • Cover emergency medical expenses
  • Consolidate high-interest debt
  • Finance your higher education
  • Renovate your home
  • Purchase consumer durables
  • Travel to your favourite destination

Tips for a Successful Personal Loan Application

  • Check whether you meet the eligibility conditions
  • Decide the loan amount based on your requirements
  • Maintain a low debt-to-income ratio
  • Check your credit score
  • Decide loan amount based on fund requirements
  • Keep all loan documents ready

How an Unsecured Personal Loan Works?

An unsecured Personal Loan is approved based on your credit profile; no collateral required. Have a look at how it works:

•    Apply Online: Fill in basic details and submit your application digitally.
•    Upload Documents: Share your KYC and income proofs online.
•    Get Assessed: Your credit score, income, and repayment history are evaluated.
•    Quick Disbursal: Once verified, the loan amount is credited to your account.

Use the funds or any personal needs such as medical, travel, education, or home improvement and repay in easy EMIs.

Features and Benefits of an Unsecured Personal Loan

Discover why unsecured personal loans are a preferred choice for easy financing:

•    No Collateral Required: Get funds without pledging any assets; no property, gold, or guarantor needed.
•    Quick Approval and Disbursal: Enjoy faster loan processing with minimal documentation and digital verification.
•    Flexible Loan Amount: Avail a loan amount that matches your financial needs, ideal for both small and large expenses.
•    Customisable Tenure: Choose a repayment tenure that suits your budget, ranging from 12 to 84 months.
•    Mult-purpose Usage: Use the loan for travel, medical emergencies, weddings, education or debt consolidation with no restrictions.
•    Fixed Interest Rate: Predictable monthly EMIs with fixed rates for better financial planning.
•    Digital Application Process: Apply online, upload documents, and track your application – completely paperless and hassle-free.

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

Can I use Poonawalla Fincorp’s unsecured Personal Loan to organise a wedding? 

Yes, you can use our unsecured Personal Loan to cover the expenses associated with organising a wedding. Pay for the venue, catering, decorations, events, etc., with our collateral-free loan.

How can I use the EMI calculator to know the EMI of my unsecured Personal Loan?

Using the EMI calculator will help you plan your monthly repayments. Just follow these steps to know your EMIs:

Step 1: Enter the loan amount you wish to borrow

Step 2: Select the loan tenure

Step 3: Enter the interest rate

The calculator will instantly display the EMI value.

What is the minimum credit score required for an unsecured Personal Loan from Poonawalla Fincorp?

The minimum CIBIL score required to apply for Poonawalla Fincorp’s unsecured Personal Loan is 750. Increase your chances of loan approval at lower interest rates and favourable terms by building and maintaining your credit score.
 

What is an unsecured Personal Loan?

An unsecured Personal Loan does not require any collateral or security. It is sanctioned based on your creditworthiness, income, and repayment history.

What is the limit of an unsecured loan?

Loan amount can range from ₹1 Lakh to ₹50 Lakh, depending applicant’s profile, income, credit score, and lender’s internal policies.

What happens if you don't pay unsecured loans?

Failure to repay may result in penalties, a drop in credit score, and a legal recovery action by the lender. It can also impact future loan approvals.

Do I need to pay a processing fee for unsecured loans?

Yes, a nominal processing fee of 3% + taxes is applicable on an unsecured loan.