Get an instant loan for expenses for your business. Poonawalla Fincorp business loan is offering up to Rs.50 lakh loan. Poonawalla Fincorp Ltd. previously known as Magma Fincorp Ltd. This is an online business loan without collateral.
Poonawalla Fincorp’s business loan interest rate is 15% per annum. The repayment tenure is 3 years.
Poonawalla Fincorp Business Loan
| Interest Rate | 15% p.a – 28% p.a. |
| Loan Amount | 1 lakh – 50 lakh |
| Processing Fee | Up to 3% of the loan amount+ GST |
| CIBIL Score | 1-/700+ |
| Loan Tenure | 1 year – 3 years |
| Income | Required |
| Eligible For | Self Employed |
Benefits of Poonawalla Fincorp Business Loan
You will get a business loan without extra hassle. Poonawalla Fincorp Limited provides unsecured business loans with easy processes. Let’s check out the benefits below:
- Get a business loan up to Rs. 50 lakhs
- Digital loan application process.
- The minimal documents required to apply
- No hard copy has to provide
- The interest rate is affordable. Interest rate starts from 15% to 28% p.a.
- Loan approval time is 72 hours
- Long repayment tenure of up to 36 months
- Collateral–free business loan
Eligibility Criteria for Poonawalla Fincorp Business Loan
The below eligibility criteria are required for a Poonawalla Fincorp business loan:
- Age should be 24 to 65 years required
- The minimum annual turnover of Rs. 6 lakhs required
- 2-year business vintage proof required
- Credit score: -1 or 700+ required
Also Read: How much business loan can I get in India?
Documents Required
- Indian Residence
- KYC Documents: Pan Card, Aadhaar Card
- 1-year bank statement
- Business Vintage Proof: 2 years IT File/ GST File/2 years Trade License
- Residential proof( Electricity bill/ Rent Agreement)
Poonawalla Fincorp Business Loan Interest & Charges
| Minimum Interest Rate | 15% p.a. |
| Maximum Interest Rate | 28% p.a. |
| Processing Fees | 3% of the loan amount |
| Foreclose Charges | NIL |
| Penal Interest | 3% of the monthly EMI |
| Late Charges | 3% per month |
| Bounce Charges | Rs. 1,000/- |
How to Apply for Poonawalla Fincorp Business Loan
Step 1: Click on the “Apply Now” button.
Step 2: Fill out the application form
Step 3: Submit the form after filling in all the details.
Step 4: Poonawalla customer care will call you for the documentation process.
Step 5: If you are eligible after the process, you will get the loan amount.
Also Read: Personal Loan for Minimum Salary 13,000
Poonawalla Fincorp Business Loan Customer Cares
Poonawalla Fincorp provides good customer service. You will get customer care support 24/7.
Official Number: +91 20 67808090 / 1800-266-3201 (Monday to Saturday 9.00 AM – 7.00 PM)
E-mail ID: info@poonawallafincorp.com
Office Address:
201 and 202, 2nd Floor, AP81, Koregaon Park Annex,
Mundhwa, Pune, 411036
FAQs on Poonawalla Business Loan
Can I get Poonawalla Business Loan without ITR?
You may get the Poonawalla Business loan without an ITR file. But you will require a 2-year trade license as vintage proof.
What is the interest rate Poonawalla Business loan?
Poonawalla Fincorp’s business loan interest rate is 15% to 28% per annum.
What is the loan amount Poonawalla offers?
Poonawalla Business loan provides up to Rs. 50 lakhs loan.
How to contact Poonawalla Fincorp customer care?
You can contact customer care at this toll-free number 1800-266-3201 or send an email to info@poonawallafincorp.com.