Poonawalla Finance Rolls Out Special Term Loan For Company Secretaries

The loan amount ranges from ₹2 lakh to ₹30 lakh with a flexible repayment tenure between 12-60 months.

Poonawalla Finance Rolls Out Special Term Loan For Company Secretaries

Poonawalla Finance has signed an MoU with the ICSI for the special loan

The Poonawalla Finance Private Limited (Poonawalla Finance) has announced its tie-up with the Institute of Company Secretaries of India (ICSI) to offer a collateral-free special term loan product to over 65,000 Company Secretaries across the country. Poonawalla Finance has signed a memorandum of understanding (MoU) with the ICSI for the special term loan scheme that will help its members fulfill the financial requirements for professional projects or personal emergencies. The company is a systemically important non-deposit taking NBFC.

Poonawalla Finance Special Term Loan For Company's Secretaries - top features:

  • The special term loan scheme carries zero processing fees for loans up to 36 months, zero prepayment charges, zero collateral, attractive interest rate, and 100 per cent digital processing with minimum documentation.
  • The loan also comes with an option to take-over the existing loans with higher interest rates.
  • The loan amount ranges from Rs 2 lakh to Rs 30 lakh with a flexible repayment tenure between 12-60 months.
  • The loans can be availed with four steps which are as follows:
    -online application
    -document upload
    -approval in 24 hours
    -online loan disbursal.

"As the economy is recovering from the pandemic impact, our focus is on offering credit support to the MSMEs and professionals like Company Secretaries so that they can further boost the entrepreneurial ecosystem and fuel economic growth,'' said Mr. Adar Poonawalla, Chairman, Poonawalla Finance Private Limited.

Poonawalla Finance started in April 2019 has crossed Rs 2000 Crores in assets in management (AUM) and is one of the most well-capitalized NBFCs in India. The company offers personal loans, business loans, and loans to professionals.

“With the tie-up with Poonawalla Finance Private Limited, the Institute has once again aligned its initiative with the Government of India, by providing financial credit to company secretaries to boost economic recovery and help in building Atmanirbhar Bharat,'' said CS Ashish Garg, President the ICSI.

Meanwhile, Poonawalla Finance earlier entered into an MoU to offer a collateral-free special term loan scheme with an aim to benefit over three lakh chartered accountants, members of the Institute of the Chartered Accountants of India (ICAI). The company received more than 4,000 loan applications and sanctioned loans worth Rs 150 crore to more than 1,500 chartered accountants within the first month of the scheme's launch.