Poonawalla Fincorp Personal Loan
Poonawalla Fincorp Personal Loan
Interest rate Minimum
5 P.A
Interest rate Maximum
25000 P.A
Age Group
25
CIBIL score
750+
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Features
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Loan Amount: Up to ₹50 Lakhs.
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Interest Rate: Starts as low as 9.99% p.a. (Note: Instant loans usually start at a higher rate, around 16% p.a.).
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Flexible Tenure: Ranging from 12 to 84 months.
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Zero Hidden Charges: The company emphasizes transparency with no hidden costs.
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Collateral-Free: Being an unsecured loan, no security or assets need to be pledged.
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Foreclosure/Prepayment: * Nil charges if paid from your own sources (after the first 6 months).
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4% charges apply if paid through other sources (like a balance transfer).
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Eligibility
To qualify for a personal loan, you generally need to meet the following:
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Age: 21 to 60 years at the time of application.
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Citizenship: Indian.
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Employment: Full-time employee at a Private Ltd, Public Ltd, LLP, MNC, PSU, or Central Government entity.
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Monthly Income: A minimum net take-home salary of ₹30,000.
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Work Experience: At least 1 year of total experience and at least 1 month with the current employer.
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Credit Score: A score of 750 or above is preferred for competitive rates.
Documents Required
The process is 100% digital, requiring soft copies of the following:
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KYC Documents: PAN Card (mandatory) and one address proof (Aadhaar Card, Passport, Voter ID, or Driving License).
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Income Proof: Latest 1 month’s salary slip.
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Financial Documents: Bank account statements for the last 3 months.
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Employment Proof: Office ID card or verification via official email ID.