Poonawalla Fincorp is a non-bank lender (an NBFC) that offers personal loans fully online. The headline rate starts at 9.99% a year, but your actual rate, the processing fee and the tenure decide what you pay. Here are the terms from Poonawalla Fincorp’s own website.
The loan at a glance
| Poonawalla Fincorp personal loan | |
|---|---|
| Amount | ₹1 lakh to ₹50 lakh |
| Interest rate | From 9.99% a year (your rate depends on your profile) |
| Tenure | 12 to 84 months |
| Processing fee | Up to 4% + taxes |
| Documentation charge | ₹500 + taxes |
| Prepayment and foreclosure | No charge when you repay from your own money; 4% if you repay with money from another lender |
| Late EMI | 24% a year on the overdue EMI, plus ₹500 if a payment bounces |
| Collateral | None |
Who can apply
- Indian citizen, aged 21 to 60
- Salaried, working full time at a government body, PSU, MNC, or a private or public limited company
- Earning at least ₹25,000 a month
- A credit score of about 720 or above helps (see what is a good CIBIL score)
Documents: KYC and address proof, salary slips for the last 3 months, bank statements for the last 3 months, and your office email or ID card.
A worked example
Say you borrow ₹5 lakh for 3 years and are offered the starting rate of 9.99%.
- Monthly EMI: about ₹16,130
- Total repaid over 36 months: about ₹5.81 lakh, so about ₹81,000 in interest
- Processing fee at the maximum 4%: ₹20,000 + 18% GST = ₹23,600, plus ₹590 documentation
- Lenders often deduct the fee from the amount paid out; if so, about ₹4.76 lakh reaches your account
So the real cost is the interest plus about ₹24,000 of fees. If you are offered a higher rate, say 14%, the EMI rises to about ₹17,090 and the interest to about ₹1.15 lakh. Try your own numbers in our personal loan EMI calculator.
Three things to check before you sign
- Your actual rate. 9.99% is the lowest. Ask for your rate in writing.
- The processing fee. “Up to 4%” can be negotiated or be lower for your profile. On a big loan it is a big number.
- The Key Fact Statement (KFS). Lenders must give it to you before you sign. It shows the annual percentage rate (APR), which includes the fees. Compare loans on APR, not on the interest rate alone.
Prepaying the loan
Repaying early from your own savings has no charge, which is useful: if you get a bonus, you can cut your interest. The 4% charge applies only if you close it using money from another lender, that is, a balance transfer.
See the full terms and apply on the Poonawalla Fincorp page, or compare other lenders on SkyloFin’s loans page.
Frequently asked questions
What is the Poonawalla Fincorp personal loan interest rate?
From 9.99% a year. The rate you are offered depends on your income, employer, credit score and loan amount.
How much can I borrow?
From ₹1 lakh to ₹50 lakh, repaid over 12 to 84 months.
Can I close the loan early?
Yes. There is no charge if you repay from your own money. A 4% charge applies if you repay it with a loan from another lender.
This is general information, not financial advice. SkyloFin is not a lender or a financial adviser. Rates and fees are from Poonawalla Fincorp’s own website, checked 26 September 2026; the Key Fact Statement you get before signing is final. SkyloFin may earn a commission when you apply through our links; it never changes your rate.
