Poonawalla Fincorp Home Renovation Loan

Poonawalla Fincorp Limited offers a personal loan specifically designed for home renovation. With this loan, you can easily finance upgrades to your home interiors. Poonawalla Fincorp Limited home improvement loan interest rates are attractive, starting at just 9.99% annually. Depending on your needs, you can borrow between ₹1 to ₹30 lakhs. The application process is simple and online, making it convenient and fast. There's no need for collateral; the repayment can be spread over 60 months. This loan is ideal for anyone looking to refresh their home without the burden of hidden charges or complex procedures.

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Written By
Rishabh Baisoy
Rishabh Baisoy
With a background in journalism and mass communications, Rishabh might be clueless about his plans for the evening, but he clearly knows what to write. A proud cinephile, Rishabh makes the perfect choice to discuss any movie with. Poetry holds a special place in his heart, which mingles well with his wanderlust personality. While he physically exists in India, his heart beats for the red part of Merseyside. Rishabh educates and empowers readers towards financial success at Urban Money.
Reviewed By
Amit Prakash Singh
Amit Prakash Singh
Co-Founder, Square Yards & Chief Business Officer, Urban Money
Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

Poonawalla Fincorp Limited Home Renovation Loan – Highlights

Below are the key highlights of Poonawalla Fincorp Limited Home Renovation Loan:

Loan Amount Up to 30 lakhs
Loan Tenure 12 to 60 months
Collateral Not required
Purpose Home Renovation 
Eligibility Salaried

Poonawalla Fincorp Limited Home Renovation Loan – Features & Benefits

Here are some of the best features and benefits of Poonawalla Fincorp Limited home renovation loan:

  • Attractive Interest Rates: Enjoy competitive interest rates starting from 9.99% p.a., helping you manage your finances better without burdening you with high costs.
  • Simple Documentation: The loan process is streamlined, and minimal documentation is required. You only need to upload a few primary documents to complete your application.
  • Fast Approval and Disbursal: Experience quick loan approval and fast disbursal of funds, which ensures that you can start your home renovation without any delays.
  • Convenient Monthly Instalments: With the flexibility of repayment tenure up to 60 months, you can plan your finances and repay the loan in affordable monthly instalments.
  • No Hidden Charges: Poonawalla Fincorp maintains transparency in all its dealings, ensuring no hidden charges. All fees and charges are disclosed upfront.
  • Hassle-free Application Process: Apply for the loan online or through the Poonawalla Fincorp App with just a few clicks, making the entire process convenient and user-friendly.
  • Zero Collateral Required: Because personal loans are unsecured, there is no need to pledge any collateral to obtain one, making them accessible to a wider range of applicants.

Poonawalla Fincorp Limited Home Renovation Loan – Interest Rates

Below are the Poonawalla Fincorp Limited home improvement loan interest rates:

Loan Type Interest Rate (p.a.)
Home Renovation Loan Starting from 9.99% p.a.

Poonawalla Fincorp Limited Home Renovation Loan for Salaried – Eligibility Criteria

There are certain eligibility criteria that an applicant must meet to qualify for a Poonawalla Fincorp Limited home renovation loan. Below is the detailed information about the eligibility criteria for the same:

Eligibility Criteria Details
Age Requirement Between 22 years and 57 years
Citizenship Must be an Indian citizen
Monthly Income At least ₹30,000
Employment The employee at a reputed public or private company
Work Experience Minimum 12 months of work experience
Minimum 1 month’s experience with the current employer
Credit Score 750 and above

Poonawalla Fincorp Limited Home Renovation Loan – Documents Required

These are the documents required to apply for a Poonawalla Fincorp Limited home renovation loan:

Identity Proof:

PAN Card Aadhaar Card Driving Licence
Voter ID Passport

Address Proof:

Utility bills (Electricity, Water, Gas) Rental agreement Passport

Income Proof:

Latest salary slips for the last 3 months Bank statements from the last three months

Employment Proof:

Official email ID Employee ID card

Poonawalla Fincorp Limited Home Renovation Loan Processing Fees and Other Charges

There are some fees associated with the Poonawalla Fincorp Limited home improvement loan. Here is the detailed fee structure of this loan:

Fee Type Amount/Rate
Interest Rates Starts from 9.99% p.a.
Processing Fees Up to 2% with all taxes
EMI per month Starts ₹2,124 for 60 months
Prepayment/Foreclosure Charges 0% if paid from personal sources; 4% if paid from other sources.
Default Interest 3% per month
Repayment Dishonour Charges ₹500 per bounce with taxes
Stamp Duty Depends on the state
Other Hidden Charges Not applicable

Poonawalla Fincorp Limited Home Renovation Loan – Terms and Conditions

The terms and conditions of a service or product are critical because they define the rights and duties of both the provider and the user. They feature crucial information such as eligibility requirements, payment terms, applicable fees, and the parties’ obligations. Understanding these phrases ensures that all parties know what is anticipated, reducing misunderstandings and guaranteeing a seamless transaction or service experience. It is always advisable to read and comprehend these terms thoroughly before agreeing to them to ensure that they satisfy your needs and expectations.

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