Poonawalla Fincorp Limited Business Loan

Poonawalla Fincorp Limited | Business Loan | 29-Mar,2024

About Poonawalla Fincorp Limited: Poonawalla Fincorp Limited, formerly known as Magma Fincorp, is a popular non-banking financial company (NBFC) in India engaged in consumer and MSME financing. Headquartered in Pune, the company is part of the Cyrus Poonawalla Group. It is an excellent resource for individuals seeking personal loans to meet their basic needs such as home renovation, higher education, and other financial requirements.

Detail: Apply for Business Loan Online | Enterprises of applicants must have a minimum annual turnover of Rs. 6 Lakh.

Annual Percentage Rate (APR): 15% p.a onwards

Minimum & Maximum period for repayment (Loan Tenure): 6 - 48 months

Loan processing charges: Up to 3% plus applicable taxes

Late Payment: As per the loan agreement.

Foreclosure Charges: NIL

Partpayment Charges: 0% If paid from own sources & 4% If paid from other sources

Maximum Loan Amount: Rs. 50 Lakhs

Poonawalla Fincorp Limited Profile

Sector : Finance

Industry : Regional Banks

Established in 1988, Poonawalla Fincorp Limited offers a wide range of services including business loans, professional loans, personal loans, home loans, loans against property, pre-owned car loans, and medical equipment loans, making it an ideal choice for many. The company was founded in 1988 by Mayank Poddar and Sanjay Chamria as Magma Leasing Limited. With Poonawalla Fincorp Limited, individuals can avail of personal loans, higher education loans, and business loans at attractive interest rates without any hidden charges. Additionally, Arvind Kapil is the CEO of Poonawalla Fincorp Limited.

Know more

You will go on the Official website.

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Loan Type

Poonawalla Fincorp Limited ROI Max Loan Amount Tenure Processing Fee Late Payment Foreclosure Charges Partpayment Charges
Personal Loan 9.99% p.a. onwards Rs. 30 lakh 1 to 5 years Up to 2% of the loan amount NIL NIL NIL
Car Loan 11% p.a onwards Rs. 75 Lakhs 12 - 72 months One-time Processing Fee of up to 1% of the sanction amount. 3% per month 1) 0% If paid from own sources 2) 4% of the outstanding loan amount plus taxes if paid from other sources NIL
Business Loan 15% p.a onwards Rs. 50 Lakhs 6 - 48 months Up to 3% plus applicable taxes As per the loan agreement. NIL 0% If paid from own sources & 4% If paid from other sources
Professional Loan 9.99% p.a onwards (CS), 11.49% p.a onwards (CA), and 11.49% p.a onwards (Doctors) Loan up to Rs. 50 Lakhs 6 - 48 months As per the loan agreement. As per the loan agreement. Zero charges Zero charges

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