Poonawalla Business Loan
Give your business the boost it needs with Poonawalla Fincorp instant business loans up to Rs. 50 Lakhs online with same-day disbursement. The interest rate for the Poonawalla business loan starts from just 15% p.a., and repayment tenure can go up to 36 months. The loan can be availed to manage working capital, bridge cash flow gaps, or handle unexpected business-related expenses.
Poonawalla Fincorp Business Loan Details
The key details of the Poonawalla business loans are mentioned in the table below:
| Loan Amount | Rs. 1 Lakh to Rs. 55 Lakhs |
|---|---|
| Tenure | 6 to 36 months |
| Rate of Interest | 15% p.a. onwards |
| Processing Fee | Up to 3.5% |
| Age | 24 to 65 years |
| Lowest EMI Per Lakh | Starting from Rs. 3,466 for 36 months |
Features & Benefits of Poonawalla Business Loan
The following are the main features and benefits of the Poonawalla business loan:
- Same-day loan disbursal with a quick and paperless process.
- Loans for managing working capital, bridging cashflow gaps, or handling unexpected expenses.
- Loan amount ranging from Rs. 1 Lakh to Rs. 50 Lakhs, depending on your business profile, creditworthiness, and eligibility criteria.
- Repayment tenure of 6 to 36 months.
- Zero hidden charges.
Poonawalla Business Loan Interest Rates & Charges
Below is the list of interest rates, processing fees, and other charges associated with the Poonawalla business loan:
- Rate of interest: 15% p.a. onwards.
- Processing fee: Up to 3.5% of the loan amount.
- Prepayment/ foreclosure charges: 6% on principal outstanding + applicable taxes for up to the First 6 EMIs and 5% on principal outstanding + applicable taxes after 6 EMIs.
- Default charges: 24% per annum.
- Repayment instrument dishonour charges: Rs. 500 per bounce.
- Stamp duty: At actuals (as per State).
Poonawalla Business Loan Eligibility Criteria
Below are the simple eligibility criteria for the Poonawalla business loan:
- Citizenship: Indian
- Age: Between 24 and 65 years
- Business vintage: Minimum 3 years
Poonawalla Business Loan Documents Required
Submit the essential documents mentioned below while applying for the Poonawalla business loan:
- Digi Locker-based KYC
- Business proof and GST fetched through an API-based process
- Account aggregator-based banking
- Proof of own house
Steps to Apply for a Poonawalla Business Loan
Below are the easy steps to apply for a Poonawalla business loan:
- Fill out the online business loan application form from Poonawalla Fincorp’s website/ mobile app.
- Upload your KYC documents to complete the verification process.
- Get the loan amount disbursed to your bank account within a day.
Poonawalla Fincorp Business Loan Customer Care Details
Here are the Poonawalla Fincorp Business Loan customer care details:
- Toll-Free Customer Care Number: 1800-266-3201
- Customer Care Email: customercare@poonawallafincorp.com
Availability: Monday to Saturday, 9:00 AM to 7:00 PM
FAQs
The interest rate of the Poonawalla business loan starts from just 15% per annum.
A Poonawalla Business Loan approval is quick, sometimes done within one day.
No, you do not need any collateral for Poonawalla Business Loans.
The maximum loan amount available under Poonawalla Business Loan is up to Rs. 50 Lakhs.
Yes, the lender levies prepayment/ foreclosure charges of 6% on principal outstanding + applicable taxes for up to the First 6 EMIs and 5% on principal outstanding + applicable taxes after 6 EMIs.