New Delhi [India], March 10: Poonawalla Fincorp, a non-banking finance company, recently announced its entry into the education loan market. The financial solution is focused on providing loans for students pursuing higher education in foreign universities. This new announcement includes the industry-first initiative of providing instant sanction for education loans of up to ₹75 lakhs for students.
Why This Matters to Students and Parents
The education loan announced by Poonawalla Fincorp Limited offers the option of taking the loan with or without the need for collateral. Students can avail of loans up to ₹1 crore without collateral. Loans up to ₹3 crore, available with collateral, will cover tuition fees, travel expenses, books, and insurance reimbursements for students as well as co-applicants. This process ensures hassle-free approvals.
As one of India’s leading NBFCs, Poonawalla Fincorp is also offering attractive interest rates to make financing more convenient for students planning to study abroad at international universities. Both existing and new customers of Poonawalla Fincorp can avail this experience.
The CEO’s Take on the Launch
Arvind Kapil, the CEO and Managing Director of Poonawalla Fincorp commenting on the launch of the education loan said, “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.”
Through the introduction of this loan, Poonawalla Fincorp aims to reach more families and students. In this way, the company can focus on creating a customer base that aligns with its existing business model. They have also partnered with education counselors across India and onboarded professionals from the industry to provide need-based financial solutions to enhance the customer experience.
Poonwalla Fincorp with its strategic expansion is set to diversify its product offerings and deliver all-around financial solutions. This launch follows Poonawalla Fincorp’s recent introduction of Prime digital loan for salaried customers that allows customers to avail ₹15 lakh loan in 15 minutes.
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