Poonawalla Fincorp Education Loan Rate of Interest
Poonawalla Fincorp offers education loans up to ₹3 crore with quick online approvals and flexible repayment options.
- Loan amount ranges from ₹1 lakh to ₹3 crore.
- Repayment tenure of up to 15 years including moratorium.
- Flat processing fee of ₹29,999 + GST.
- Unsecured loans up to ₹1 crore available.
Enjoy competitive interest rates with zero prepayment charges on floating rate loans.
- Interest rate starts from 10.25% p.a.
- No foreclosure charges for floating rate loans; 2% + GST for fixed rate loans.
CALCULATE YOUR EDUCATION LOAN EMI
1,000 per month
1,000
1,000
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| Bank / Financer | .jpg?h=50&w=185&mode=stretch) Change bank |  Change bank |  Change bank |  Change bank |  Change bank |
| Applicable Rate of Interest | Starting from 10.25% p.a. | Up to INR 7.50 Lacs: 10.55% Above INR 7.50 Lacs: 10.80% | Up to INR 10 Lacs: 12.75%-14.00% Above INR 10 Lacs: 11.75%-13.75% | 12.99% onwards | |
| Max Loan with Collateral | INR 3 Crore | For India: 10 Lacs For Abroad: 20 Lacs | For India: No limit For Abroad: 1 crore | INR 25 Lacs | |
| Max loan without collateral | INR 1 Crore | For India: 10 Lacs For Abroad: 20 Lacs | For India: INR 10 Lacs For Abroad: INR 20 Lacs | INR 25 Lacs | |
| Processing Fee | Flat processing fee of ₹29,999* + applicable GST | Up to INR 4 Lacs: Nil Above INR 4 Lacs: INR 5000 | 1% | 2.25%-3% | |
| Repayment Period | Up to 15 years | 15 years | 10-15 years | 5 years | |
| Loan for top institutions | Yes | Yes, SBI Scholar Loan Scheme | No | No | |
| Margin | Nil | For loan above INR 4 Lacs In India: 5% In abroad: 15% | Nil | Nil | |
| Age Limit | 16 – 50 years for applicant, 21 – 80 years for co-applicant | no age limit | no age limit | Minimum of 23 years old and a maximum of 58 years. | |
| Loan Security | Collateral required only for secured loans | Upto 7.50 Lacs: Only Parent/ Guardian as co-borrower. No Collateral Security or third party guarantee Above INR 7.50 Lacs: Tangible security along with parents as co borrower | Nil | No Collateral Security | |
| Eligibility concession for SC/ST | No | No | No | No | |
| Processing Time | N.A. | 20 days | N.A. | 24 hours | |
| Prepayment charges | Nil for floating rate loans, 2% + GST for fixed rate loans | Nil | Nil | 2%+Taxes | |
| Penal charges | Applicable | Penal interest @ 2% to be charged for loans above Rs.4 lacs for the overdue amount and overdue period | Nil | 2.38%+Taxes | |
| Mandatory insurance cover | No | Yes | No | No | |
| Travel expeneses | Yes | yes | No | N.A. | |
| Bank transfter allowance | Yes | available | No | Not available | |
| Top up loan availability | No | yes | No | no | |
| Interest Subsidy Schemes | None | Padho Pardesh CSIS Skill Loan Scheme | None | None | |
| Tax benifit | No | yes | No | No | |
| Concession/benefits | Instant sanction for select institutes. 100% digital process. Flexible repayment options. | Concession to girl students 1% concession if interest is serviced during moratorium period including course period | No margin charged No security asked No moratorium period | No margin charged. |
How to apply for Poonawalla Fincorp Education Loan ?
Poonawalla Fincorp Education loan application form can be available online or offline at Bank branches.
Poonawalla Fincorp Education Loan Details
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Expenses covered under Poonawalla Fincorp Student Loan Scheme
- Tuition Fees, Living Expenses, Travel Expenses, Insurance, Study Materials, and any other related expenses.
Courses Covered Under Poonawalla Fincorp Student Loan Scheme
In India
Courses Covered Under Poonawalla Fincorp Student Loan Scheme
In Abroad
Undergraduate (UG) and Postgraduate (PG) courses for study abroad.
Education Loan Documents Required ?
Student KYC documents (Aadhaar, PAN, etc.)
Institute Admit Letter and Entrance Test Results (if available)
Past academic records/mark sheets
Co-applicant KYC documents
Co-applicant income documents – Salary slips, Bank Statements, Form 16 (for salaried) / ITR, GST returns (for self-employed)
Collateral-related documents (only for secured loans)
Interest Subsidy Schemes
No Government Subsidy Scheme Applicable
Frequently Asked Questions
Can I get a 100% education loan for study abroad?
+ -What is the loan amount offered by Poonawalla Fincorp?
+ -Can I get a sanction letter before finalizing my study institute?
+ -Is there a moratorium period available for education loans?
+ -What is the maximum loan repayment tenure?
+ -
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