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Poonawalla Fincorp Review
Poonawalla Fincorp Ltd
Cyrus Poonawalla group NBFC offering digital personal loans up to ₹50L.
Red flags
- •PF 2.5% + GST
- •Late payment penalty up to 4%/month on overdue
Green flags
- •RBI-registered NBFC (Middle Layer)
- •Promoter-backed by Cyrus Poonawalla group
- •Paperless KYC + e-sign agreement
- •No collateral required
Permissions demanded
Data practices
Aadhaar masked via DigiLocker; no access to contacts or gallery.
Recovery practices
In-house recovery, RBI FPC-aligned. Grievance officer details published on website.
Sources & references
Grievance & support
- Grievance redressalhttps://poonawallafincorp.com/grievance-redressal
- Support / helpdeskgrievance@poonawallafincorp.com
Contact details published by the lender. If unresolved within 30 days, escalate via RBI Sachet.
Disclaimer: Reviews are independent editorial assessments based on publicly available information and user-submitted complaints. APR ranges and fees can change — always check the lender's Key Fact Statement before borrowing. Not financial or legal advice.
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Frequently asked questions about Poonawalla Fincorp
Is Poonawalla Fincorp RBI-registered?
Poonawalla Fincorp is operated by Poonawalla Fincorp Ltd. Its RBI status: RBI-regulated NBFC. Always verify the parent lender directly on the RBI NBFC list before borrowing.
What is the real APR on Poonawalla Fincorp?
Poonawalla Fincorp charges an APR between 27% and 27% per annum with a processing fee of up to 2.5%. After fees and GST, the effective APR on short tenures can be significantly higher than the headline rate.
Is Poonawalla Fincorp safe to use?
Cyrus Poonawalla group NBFC offering digital personal loans up to ₹50L. Permissions demanded: Camera (KYC), SMS (OTP). Recovery practices: In-house recovery, RBI FPC-aligned. Grievance officer details published on website..
What loan amount and tenure does Poonawalla Fincorp offer?
Ticket size ranges from ₹1,00,000 to ₹50,00,000, with tenure between 12 and 73 months.
How do I close my Poonawalla Fincorp loan early?
Open the app, request a foreclosure quote in writing, and pay the principal + accrued interest. Demand the No Dues Certificate (NDC) within 7 working days — RBI mandates it. If Poonawalla Fincorp refuses or harasses you, file a complaint on the RBI Sachet portal.