Poonawalla Fincorp Education Loan
NBFCA trusted NBFC offering education loans up to ₹3 Crore for study abroad, with 100% paperless application, unsecured funding up to ₹1 Crore, and zero prepayment charges on floating rate loans.
Why Choose Poonawalla Fincorp Education Loan?
Competitive Interest Rates
Education loan interest rates starting from 11.25% p.a., with the final rate depending on the course, institution, loan amount, and co-applicant profile.
High-Value Loans
Loan amounts ranging from ₹1 Lakh up to ₹3 Crore — unsecured funding available up to ₹1 Crore, with secured loans going up to ₹3 Crore based on collateral value.
Flexible Moratorium Period
Moratorium available for the course duration plus a grace period of up to 1 year after completion, so repayment can begin once you're settled into your career.
Zero Prepayment Charges
No prepayment or foreclosure charges on floating rate loans, so you can repay early and reduce your interest burden without any penalty.
Multiple Co-Applicant Options
Add up to 5 co-applicants — parents, parents-in-law, siblings, spouse, cousins, or aunts/uncles — to strengthen your loan eligibility.
Expenses Covered
Poonawalla Fincorp Loan Highlights
- RBI-registered NBFC with a dedicated education loan vertical
- Unsecured loans available up to ₹1 Crore without collateral
- No prepayment or foreclosure charges on floating rate loans
- Repayment tenure of up to 15 years
- Secured loans up to ₹3 Crore based on collateral value
- Tax benefits on interest paid under Section 80E
- Up to 5 co-applicants can be added to strengthen eligibility
- 100% paperless, digital application process
Eligibility Criteria
Indian Citizenship
Applicant must be an Indian citizen with confirmed admission to a recognized institution.
Recognized Institution
Admission must be to a course recognized by the relevant regulatory or educational authority, in India or abroad.
Co-applicant Required
A parent or guardian with a stable income is usually required to join as a co-applicant.
Loan Amount & Collateral
Unsecured loans without collateral are available up to ₹1 Crore. Higher amounts, up to ₹3 Crore, require tangible collateral to secure the loan.
Documents Required
Standard checklist for education loan applications — confirm the exact current list with Poonawalla Fincorp directly before applying.
Student Documents
- Passport
- Admission Letter
- Academic Marksheets
- PAN Card
- Aadhaar Card
- Photographs
Co-applicant Documents
- PAN Card
- Aadhaar Card
- Salary Slips / ITR
- Bank Statements (6 months)
- Employment Proof
- Address Proof
Collateral Documents (if applicable)
- Property Papers (Registry)
- Latest Tax Receipt
- Property Map
- Chain Documents
- NOC (If Applicable)
- Valuation Report
How Poonawalla Fincorp Education Loan Works
Check Eligibility
Apply & Upload Documents
Application Login
Credit Evaluation
Sanction Letter
Visa Approval
Disbursement of Loan
University Coverage
Poonawalla Fincorp funds education loans for study in India and popular destinations including the USA, UK, Canada, Australia, and Germany. It generally does not offer loans for MBBS in countries like the Philippines, Russia, Ukraine, and China. Loan amount and interest rate vary by destination country, course, and applicant profile — confirm coverage for your specific institution with Poonawalla Fincorp directly or our counsellors before applying.
EMI Calculator
Estimate your monthly EMI for a Poonawalla Fincorp education loan based on amount, tenure, and interest rate.
Open EMI CalculatorFrequently Asked Questions
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