Interest Rate
16%* p.a. Onwards
Loan Tenure
12-36 Months
Hidden Charges:
0%

Apply for ₹5 Lakh Instant Loan Online

Get quick access to ₹5 Lakh with an Instant Loan from Poonawalla Fincorp. Fund higher studies, renovate home, host a wedding, consolidate debt, or address urgent financial needs. Experience a stress-free borrowing journey with numerous benefits like minimal documentation, fast approval, and instant disbursal. Apply now!

Why Choose Poonawalla Fincorp

Collateral-free
Loan
Flexible
EMIs
Quick
Approval
Hassle-free
Application
Minimal
Documentation
Zero Hidden
Charges

₹5 Lakh Loan EMI Calculator

Use our EMI calculator to plan your monthly payments accurately. Enter the loan amount, tenure and interest to calculate the EMI amount seamlessly. Calculate now!

Optimise Your Personal Loan Experience
With Monthly Budget Planning

Monthly Payable Amount₹8,791
Principal Amount
₹50000
Interest Payable
₹5,493

Loan Amount

Rupees one lakh

Interest Rate

%
16 %
36 %

Tenure

Months
12Months
36Months

Apply for an Instant Loan Online

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.

Instant Disbursement

The loan amount will be credited to your bank account instantly.

Get exclusive offers thoughtfully customised just for you

Eligibility Criteria for an Instant Loan of ₹5 Lakh

Fulfil our simple eligibility requirements:

  • Age: Between 25 and 55 years.
  • Citizenship: Indian.
  • Employment: Salaried and Self Employed: Full-time job with a government entity, public/private limited company, LLP, educational institution, or a company approved by Poonawalla Fincorp.
  • Work Experience: Minimum 1 year, with at least 1 month in the current job.
  • Income: ₹3 Lakh annual household income.

Documents Required for an Instant Loan of ₹5 Lakh

Skip the hefty paperwork and submit a few essential documents:

  • KYC Documents: Aadhaar card and PAN card

Interest Rate and Charges for an Instant Loan of ₹5 Lakh

We offer personal use loans at competitive interest rate and nominal charges:

Interest Rate
Starting at 16%* p.a.
Loan Amount
₹50,000 to ₹5 Lakh
Loan Processing Fees
Up to 4.5% plus applicable taxes
Lowest EMI Per Month
₹1,758* for 36 months
Loan Tenure
12 to 36 months
Prepayment/Foreclosure Charges
0% if paid from own sources
4% if paid from other sources
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 Instant Loan

  • Home Renovation
  • Dream Vacation
  • Wedding Expenses
  • Education Funding
  • Debt Consolidation
     

Tips for Successful Instant Loan Application

  • Assess your needs
  • Borrow mindfully 
  • Fulfil eligibility criteria
  • Check your credit score
  • Submit the required documents
     

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

1. How long do I have to wait for the loan disbursal?

Our ₹5 Lakh loan amount is disbursed instantly upon successful verification of your application.

2. Is ₹5 Lakh Instant Loan of Poonawalla Fincorp multi-purpose?

Yes, you can use it for home renovation, meeting unexpected medical bills, funding higher education costs or travelling. 

3. What credit score is required to avail of a ₹5 Lakh Instant Loan?

A credit score of 750 or above reflects your creditworthiness and may help you get better loan terms and fast approval.