Quick verdict: Poonawalla Fincorp (formerly Magma Fincorp, now part of the Poonawalla Group) has become more competitive after the group takeover. Starting rates are genuinely competitive at 9.99% for top profiles.
Starts From
9.99%
best profile
Fair Benchmark
12.0%
market rate
Red Flag Above
24%+
overpriced zone
Poonawalla Fincorp Personal Loan, Key Details
Above AverageInterest Rate Range9.99% – 30.00%
Processing FeeUp to 2% + GST
Maximum Loan Amount₹50 Lakhs
Maximum Tenure5 Years
Market Fair Benchmark12.0% p.a.
Poonawalla Fincorp (formerly Magma Fincorp, now part of the Poonawalla Group) has become more competitive after the group takeover. Starting rates are genuinely competitive at 9.99% for top profiles. They offer high loan amounts up to ₹50 lakhs which is useful for large personal requirements. Worth checking especially for self-employed borrowers.
💡 Tips for Poonawalla Fincorp customers
- Poonawalla's starting rate of 9.99% is genuine for excellent profiles. Worth checking if your CIBIL is above 780.
- They're more flexible than traditional banks for self-employed borrowers. Income documentation requirements are less stringent.
- The higher loan amounts up to ₹50 lakhs are useful when standard bank limits don't cover what you need.
- Compare their offer against Bajaj Finserv and Tata Capital specifically. Poonawalla is often cheaper for similar NBFC profiles.
Is your Poonawalla Fincorp rate fair?
Free · Instant · No login required
Check My Loan Rate → Compare all lendersWe don't recommend specific lenders, we tell you if your rate is fair. Always verify any offer against our benchmark before signing.
Also compare with other lenders