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Apply for Short Term Personal Loan Online

Loan up to 30 Lakh | Attractive Interest Rates | Quick Approval | Easy to Apply

At any point in life, a person may find themselves in need of funds, and the type of financial requirements they may have will depend on their respective situation. Financial difficulties are nothing new, especially for young individuals just starting on their own. It could occur for any reason, and the problem might only be momentary. During such circumstances, a short-term solution can be ideal to get through a temporary crisis.

Be it covering education fees, funding a dream vacation, a smartphone you have been eyeing, an electric car, or even a medical emergency, your needs could be anything. A Short-term Personal Loan can help bridge the gap between your restricted finances and important requirements.

Poonawalla Fincorp’s Short-term Personal Loan can make your life better in times of financial constraints. The best part about a Short term Personal Loan in India is that it can be used for any purpose. As a result, individuals can avoid dipping into their savings and use the excess funds from these loans as they desire.

Personal Loan Interest Rates 9.99%* p.a. onwards
Loan Amount ₹1 Lakh to ₹30 Lakh
Loan Processing Fees Up to 2% plus applicable taxes
Lowest EMI per month Starting from ₹2,124* per Lakh for 60 months
Loan Tenure 12 – 60 months
Prepayment/Foreclosure Charges 0%* If paid from own sources & 4% If paid from other sources
Default Interest 3% per month
Repayment Instrument Dishonor Charges ₹500 per bounce plus applicable taxes
Stamp Duty At actuals (as per state)
No Other Hidden Charges

To make your borrowing journey simpler, our Short-term Personal Loan eligibility criteria are relaxed and easy. This, in turn, helps us as lenders to offer instant approvals so you can make use of the funds where needed without any delay.

Listed below are the factors that determine the borrower’s eligibility criteria for a Short-term Personal Loan:

Personal Loan Eligibility Criteria

Age Requirement


Citizenship Status

Indian Citizenship

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Work experience

Monthly Salary Required

Monthly income

Employment Required

Employer Category

  • Age - The applicant should be at least 22 years of age at the time of applying for the loan and a maximum of 57 years of age.
  • Citizenship - The applicant must be an Indian citizen.
  • Work Experience -The applicant should be in current employment for a minimum of 1 month and is required to have a minimum work experience of 1 year.
  • Monthly Income - The monthly income of the applicant must be at least ₹30,000.
  • Employer Category - The applicant needs to be an employee of the Central Govt., PSU, MNC, Listed, Unlisted Public Ltd, Pvt Ltd, LLP or companies which are listed.

However, even a good Credit Score can raise the chances of qualifying for our Short-term Personal Loan.

Poonawalla Fincorp believes in providing instant financial aid to its borrowers with only minimal documentation.

Following are the required documents for our Short term Personal Loan for Salaried:

  • KYC Documents

    Proof of Identity

  • Income Proof

    Proof of Employment

  • Address Proof

    Proof of Address

  • Proof of Employment

    Financial Statements

Please note: the list given above is merely indicative. During the loan procedure, additional documentation may be required on a case-to-case basis.

A Short-term Personal Loan is offered to

  • Salaried individuals
  • Working professionals like CAs, Doctors, etc.

When you need financing immediately, waiting days for your loan to be approved is not an option. Instead, you can quickly take out a Short-term Personal Loan to get you through a crisis. Here’s how Poonawalla Fincorp’s Short term Personal Loan can come in handy:

  • Emergency - Emergency expenses are never welcome; however, you can't avoid having to pay them. They could include unforeseen wedding expenses, urgent house repairs induced by a particularly awful monsoon, hospitalization, medical procedure bills, etc. For such emergencies, our low-interest Short-term Personal Loan can work wonders.
  • Education - Students often want to pursue higher education for certain programs for which they may not be eligible for a student loan or may require more funding than an education loan can offer. In these situations, parents can apply for a Short-term Personal Loan to help finance their child's higher education.
  • Travel and vacation - A Short-term Personal Loan can cover all your travel-related costs, such as flight, accommodation, touring, insurance, etc.
  • Improving credit score - A Short term Personal Loan can be utilised to improve one’s credit score. All you must do is repay the loan on schedule and avoid defaulting. You can prove your creditworthiness through a healthy credit score, which is usually 750 and above.

At Poonawalla Fincorp, we understand the depth of our borrower’s situation and promise to deliver quick and hassle-free financing. Our loans are designed to make sure our borrowers experience the simplicity of borrowing and repayment. Some of the key features and benefits of our Short-term Personal Loan are as follows:

  • Instant approval and rapid disbursal

    Instant approval and rapid disbursal

  • Easy eligibility criteria

    Easy eligibility criteria

  • Minimal documentation Logo

    Collateral-free Loans

  • No usage constraints

    No usage constraints

  • Higher Personal Loan amount Logo

    Flexible repayment plans

  • High loan amount

    High loan amount

  • Low interest rates Logo

    Attractive interest rates

  • No hidden charges

    No hidden fees

  • Easy Application Process

    Easy Application Process

  • NZero foreclosure/pre-payment fees

    Zero foreclosure/pre-payment fees

Instant approval and rapid disbursal

We promise a smooth and quick process starting from loan application to disbursal. Thanks to our simple eligibility requirements and need for minimal paperwork.

Easy eligibility criteria

Our minimal and relaxed personal loan eligibility criteria help you avail of instant funds without much trouble.

No collateral

With this Short-term Personal Loan, you can obtain the funds you need without keeping any property as collateral. This way, you have total control of your possessions while borrowing from Poonawalla Fincorp.

No usage constraints

There are no limitations on how you can use this loan, so you can fund any expense you need to at any time. It is a flexible loan that is designed to make it simple for you to fulfil your requirements.

Flexible repayment plans

We believe that paying back a loan should be a convenient and comfortable experience. For our Short-term Personal Loans, you can choose a tenure ranging up to 60 months, based on your convenience. This way you will never exceed your set budget while repaying the loan.

High loan amount

With Poonawalla Fincorp, you can take out a Personal Loan of up to ₹30 Lakh based on your profile.

Attractive interest rates

The interest you pay determines the cost of your loan. Poonawalla Fincorp provides Short-term Personal Loans at interest rates starting from just 9.99%* p.a.

No hidden fees

We promise to convey all the loan conditions to our borrowers with full transparency. There is nothing hidden in our fine print and you only pay what is clearly communicated.

Zero foreclosure/pre-payment fees

There are no additional charges if you intend to pre-pay or foreclose your loan before the end of your tenure.

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Apply Online

Click on ‘Apply Now’ and complete the application form

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Personal Details

Enter your DOB, qualification, and residential details

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Application Verification


Submit and upload all details for verification and assessment

What is a Short-term Personal Loan?

With no need for collateral, Personal Loans are basically unsecured loans. A Short-term Personal Loan, typically, has a 1–2 year repayment period. They are used to resolve any urgent financial issue. Furthermore, you are free to use it for any small and big-ticket expenses. There are several good reasons to acquire a Short term Personal Loan. A Personal Loan is cheaper than credit card debt, the loan processing happens swiftly after application, it is collateral-free, and timely repayment improves your credit score.

Who can apply for a Short-term Personal Loan?

The application process has been kept as easy as possible. Here are the steps:

Poonawalla Fincorp provides Short-term Personal Loans to salaried individuals and working professionals like CAs, doctors, etc.

How can a Short-term Personal Loan improve my credit score?

It's important to have a good credit history and credit score if you want to borrow money. Credit bureaus base credit scores on how individuals manage their finances. High-risk borrowers are those that are late payment offenders or even those who use lots of credit. Consolidating your debts using a Short term Personal Loan, maintaining a reasonable debt-to-income ratio, completing loan repayments on time, etc. are some ways to improve your credit score.

What are the interest rates and applicable charges for Short-term Personal Loans?

Interest rates and other charges vary across all lenders. We provide Short-term Personal Loans at the most attractive interest rates, starting at just 9.99%* per annum. Other charges include a processing fee of 0% to 2% of your loan amount plus taxes.

How can I apply for a Short-term Personal Loan?

You can follow these few easy steps to receive the instant funds you need for fulfilling your obligations:

  • Step 1 - Go to our website and under ‘Personal Loan’, click on ‘Apply Now’.
  • Step 2 - Fill in your basic details and upload the necessary documents.
  • Step 3 - Await loan application assessment and verification.
  • Step 4 - Receive approval confirmation.
  • Step 4 - Get the loan amount transferred to your bank account.
How can I get money instantly?

Financial emergencies can occur anytime. Fortunately, with our Short-term Loan, you can avail yourself of money instantly without any hassle.
Just follow the below-mentioned steps for applying for a Short-term Loan:

  • Step 1 - Go to the official website of Poonawalla Fincorp and visit the ‘Short Term Personal Loan’ page.
  • Step 2 - Click the “Apply Now” button and complete the application form.
  • Step 3 - Upload the required documents.
  • Step 4 - After the document submission, the loan application will be processed for verification.
  • Step 4 - Post verification and approval, the loan amount will be directly disbursed to your bank account.

*Terms & Conditions Apply

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