Poonawalla Fincorp Limited (PFL), a Cyrus Poonawalla Group promoted NBFC arm focused on Consumer & MSME Lending, has launched an education loan business focusing on students pursuing higher education in international universities. The offering aims at providing faster turnaround time and quick sanctions to deliver hassle-free experience. As part of this launch, the company has also announced an industry-first initiative of providing instant sanction for education loans. This seamless, technology-driven financing experience is available to both new and existing PFL customers.
Why This Matters for Students & Parents
- Loan up to INR 3 Crore with collateral: Covers tuition, living, travel, books, and insurance premiums for students and co-applicants, with hassle-free approvals
- Loan up to INR 1 Crore: Option available with zero collateral
- Instant Sanctions: An industry-first initiative for loan up to INR 75 Lakh, ensuring faster decision-making process
- Interest Rates: Offering competitive interest rates, making financing more accessible for all students planning to study in international universities
Commenting on the launch, Mr. Arvind Kapil, Managing Director & CEO of Poonawalla Fincorp, 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."
Tapping into a Growing Market
As an emerging economy, India's emphasis on education and student aspirations has led to robust growth in the education loan segment. PFL identifies this as an attractive industry and aims to become a household name by partnering with families and focusing on a customer cohort aligned with its business model. The company has partnered with educational counsellors across India and has onboarded professionals from the industry to deliver needbased financial solutions and elevate customer experiences.
The launch of the education loan business is part of PFL's strategic expansion plan to diversify its product offerings and deliver comprehensive financial solutions. The company recently launched the digital prime personal loan for salaried professionals.
PFL remains committed to a risk-first approach, delivering innovative solutions that address the current credit environment's demand. It continues to focus on simplifying lending, creating customer delight, and enhancing experiences which are the company's top priorities.
Shares of Poonawalla Fincorp Limited was last trading in BSE at Rs. 288.25 as compared to the previous close of Rs. 285.80. The total number of shares traded during the day was 51461 in over 1378 trades.
The stock hit an intraday high of Rs. 290.20 and intraday low of 285.05. The net turnover during the day was Rs. 14825001.00. |
