Poonawalla Fincorp, a Cyrus Poonawalla Group-promoted NBFC specialising in consumer and MSME lending, has launched its education loan business, targeting students pursuing higher education abroad. This new offering is designed to provide faster turnaround times and quick sanctions, ensuring a hassle-free experience for both students and parents.
As part of this initiative, Poonawalla Fincorp has introduced an industry-first feature—instant sanction for education loans of up to Rs 75 lakh—aimed at expediting the decision-making process. The company’s seamless, technology-driven financing platform caters to both new and existing customers.
Some key features of Poonawalla Fincorp’s education loan offering are:
- Loan up to Rs 3 crore with collateral: Covers tuition fees, living expenses, travel, books and insurance premiums for students and co-applicants with simplified approvals.
- Loan up to Rs 1 crore without collateral: offers a zero-collateral option for eligible borrowers.
- Instant sanction: Ensures faster decision-making with loan approvals up to Rs 75 lakh.
- Competitive interest rates: Provides affordable financing options for aspiring students.
Arvind Kapil, Managing Director (MD) and Chief Executive Officer (CEO), Poonawalla Fincorp, emphasised the company’s commitment to empowering students, stating, “Education is the most powerful investment in the future and finance should never be a barrier to ambition. With our education loan solutions, we are committed to empowering students to access world-class learning opportunities and build a brighter tomorrow.”
Recognising India’s growing focus on global education, the company sees significant potential in the education loan segment. It has partnered with educational counsellors nationwide and onboarded industry professionals to deliver customised financial solutions and enhance customer experience.
This new education loan business aligns with Poonawalla Fincorp’s strategic expansion plan to diversify its product offerings. The company’s recent launch of the digital prime personal loan for salaried professionals reflects its commitment to innovative financial solutions that simplify lending and improve customer satisfaction.
With a risk-first approach, Poonawalla Fincorp continues to prioritise customer-centric solutions, ensuring financial support that empowers students to achieve their academic goals.
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