Poonawalla Fincorp Expands Horizons with New Education Loan Program for Students

Poonawalla Fincorp Limited, part of the prominent Cyrus Poonawalla Group, has entered the education loan sector, catering specifically to Indian students aspiring to study abroad. This new initiative aims to reduce the financial burden faced by students pursuing higher education overseas, with loans available for amounts up to ₹3 crore.

Range of Loan Amounts and Instant Loan Sanctions

The loan offerings range from ₹75 lakh to ₹3 crore, determined by the needs of the student and the institution they plan to attend. A key feature is the ability to obtain an instant loan sanction for amounts up to ₹75 lakh, making the process swift and efficient for students dealing with tight deadlines for applications and visa processing.

For loans above ₹1 crore, collateral is required, but students can secure loans up to ₹1 crore without the need for collateral, providing greater flexibility for families with fewer assets.

Loan Coverage that Supports Every Aspect of Education

The loans cover a wide range of education-related expenses, including tuition fees, accommodation, travel, books, and even insurance. The inclusion of insurance premiums for both the student and co-applicant is a thoughtful touch, helping to mitigate risks while studying abroad.

Commitment to Digital Innovation

Building on its digital-first strategy, Poonawalla Fincorp offers a fast, convenient, and transparent loan application process, enhancing the experience for students and their families. This move follows the company’s earlier success in launching digital personal loans targeted at salaried professionals.

Financial Stability and Leadership Vision

With an Assets Under Management (AUM) of ₹30,984 crore as of December 31, 2024, Poonawalla Fincorp is well-positioned to manage the new education loan portfolio effectively. The company’s expansion into education loans is guided by the vision of Arvind Kapil, the Managing Director and CEO, whose goal is to remove financial barriers to education for Indian students.

Investor Confidence and Market Response

After the announcement of the education loan launch, Poonawalla Fincorp’s stock experienced a slight increase, reflecting positive investor confidence in the company’s latest expansion into the education finance sector.

Conclusion: A Commitment to Supporting Student Dreams

Poonawalla Fincorp’s education loan offering ensures students can access the financial resources needed to study abroad. With robust leadership, digital innovation, and strong financial backing, Poonawalla Fincorp is well on its way to becoming a key player in the education finance sector.

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