Poonawalla Fincorp diversifies into education loan business

Poonawalla Fincorp has launched an education loan business focusing on students pursuing higher education in international universities. 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.

Features of the new education loan:

' Loan up to Rs 3 crore with collateral: Covers tuition, living, travel, books, and insurance premiums for students and co-applicants, with hassle-free approvals

' Loan up to Rs 1 crore: Option available with zero collateral

' Instant Sanctions: An industry-first initiative for loan up to Rs 75 lakh, ensuring faster decision-making process