Poonawalla Fincorp is an RBI-registered NBFC (part of the Cyrus Poonawalla Group) offering education loans for both domestic and international study. It's known for a 100% digital application process, minimal documentation, and instant sanction letters for select institutes — useful if you want a pre-approved offer before finalising your university.
Key Features at a Glance
10.25% p.a. onwards
₹3 Crore (secured)
Up to 15 years
- Unsecured loans up to ₹2 Crore for study abroad (₹1 Crore for domestic studies)
- Instant sanction letters available for select partner institutes
- Covers 2,000+ institutes across India and abroad
- Moratorium: course period + up to 1 year grace on principal/interest
- Nil foreclosure charges on floating-rate loans
- Up to 5 co-applicants allowed (parents, siblings, spouse, in-laws, first cousins)
Interest Rates & Charges
| Interest Rate | 10.25% p.a. onwards |
| Loan Amount | ₹1 Lakh – ₹3 Crore |
| Processing Fee | Up to 2% + GST (min. ₹5,000) |
| Foreclosure Charges | Nil (floating) / 2%+GST (fixed) |
| Loan Tenure | Up to 15 years |
Rates and charges are set by Poonawalla Fincorp and subject to change based on your profile, course, and collateral status. Confirm current terms at the time of application.
Documents Required
- Admission letter / offer letter from university or college
- KYC documents: Aadhaar, PAN, passport
- Academic marksheets and entrance test scores (if available)
- Co-applicant KYC and employment proof
- Income proof: salary slips + Form 16 (salaried) or ITR + GST returns (self-employed)
- Bank statements (typically 6 months)
- Collateral documents, if applying for a secured loan
Why Apply Through Study LEAP?
As an authorised partner, Study LEAP can:
• Submit your application with priority processing
• Help you compare Poonawalla Fincorp against 7+ other lenders side by side
• Ensure zero document rejection by pre-checking your file
• Get you a decision in 3–5 working days
Our service is 100% free — lenders pay us, not you.