Poonawalla to offer education loans up to Rs 3 crore

Mumbai: Poonawalla Fincorp has entered the education loan segment, targeting students pursuing higher education abroad. The non-banking finance company (NBFC), part of the Cyrus Poonawalla Group, will offer loans up to Rs 3 crore with collateral and up to Rs 1 crore without collateral. It has introduced an industry-first initiative of instant sanction for loans up to Rs 75 lakh. The financing covers tuition, living, travel, books, and insurance expenses for students and co-applicants.

The company aims to provide a technology-driven financing experience with faster turnaround times and quick approvals. It is offering competitive interest rates to make international education financing more accessible. Arvind Kapil, managing director and CEO, said, “Education is the most powerful investment in the future, and finance should never be a barrier to ambition.”

India’s growing education loan market presents a strong business opportunity, and Poonawalla Fincorp plans to become a key player in the sector. The company has partnered with educational counselors across India and onboarded industry professionals to offer need-based financial solutions. The launch is part of its broader strategy to diversify financial offerings, following the recent introduction of digital prime personal loans for salaried professionals.

Headquartered in Pune, the company is a non-deposit-taking systemically important NBFC registered with RBI. It has been in operation for nearly three decades and is listed on BSE and NSE. With an AUM of Rs 30,984 crore as of Dec 31, 2024, it has a presence in 18 states and two Union Territories and employs over 2,560 people. Its financial services portfolio includes pre-owned car finance, personal and consumer loans, loans for professionals, business loans, loans against property, and machinery loans.

Poonawalla Fincorp follows a risk-first approach while focusing on simplifying lending and enhancing customer experience. It continues to expand its offerings in response to evolving credit demands.


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