Financial crunch due to COVID? Poonawalla Finance is here

by - 8/14/2020


2020 has been like no other year. Not only our health is under major threat but our entire existence has become questionable. Since the pandemic spread like wildfire during March, work came to a halt and the world almost shut down. As days progressed, 'normal' seemed distant and businesses waited for their revival. However the pandemic didn't seem to end and businesses started shutting down. The worst to suffer have been MSMEs.

In this period of liquidity crunch, Poonawalla Finance Private Limited, one of the most capitalised NBFC of India, has come up to offer a collateral-free special term loan scheme.

Much to the respite of Chartered Accountants , Poonawalla Finance has come up with a loan scheme which will further shore up their financial requirements towards their professional practice as well as to meet their personal exigencies during this difficult time.

Within the first month of the launch of this scheme, Poonawalla Finance has already received more than 4,000 loan applications and has sanctioned loan worth Rs.150 crore to more than 1,500 Chartered Accountants.

Mr. Adar Poonawalla, Chairman, Poonawalla Finance

What are the special features of this loan scheme?

  • It is tailor made to benefit over 3 lakh Chartered Accountants across India who are members of ICAI.
  • Personal and professional loans at an attractive interest rate with zero prepayment charges.
  • It is a collateral free special term loan scheme.
  • 100% online digital processing
  • Option to take over the existing loan at higher interest rates.

"It is delightful to have the special loan scheme to support the credit needs of the Chartered Accountant professionals in these unprecedented times. We believe that offering credit support to the MSMEs and professionals like Chartered Accountants and Doctors for business development will further strengthen entrepreneurial ecosystem and boost economic growth," said Mr. Adar Poonawalla, Chairman, Poonawalla Finance.

While commenting on the loan scheme, Mr. Abhay Bhutada, MD and CEO, Poonawalla Finance said, “This special loan scheme is a part of our mission to offer credit support to enterprises and individuals so that they can meet their credit requirements. In the prevailing market scenario when access to credit has emerged as a challenge, our affordable and digitally-enabled loan scheme will help chartered accountant professionals fulfil their aspirations. This will help us expand our reach nationwide and fuel enterprise-driven growth.”

Mr. Abhay Bhutada, MD and CEO, Poonawalla Finance

Poonawalla Finance Private Ltd started in April 2019. It is a systematically important non deposit taking NBFC (Non Banking Finance Corporation) having a net worth of USD 11.4 billion. It is part of the Cyrus Poonawalla group and is one of the most well capitalized NBFCs in India. In only an year and a half, it has crossed INR 1500 crores in AUM (Assests Under Management). It has its headquarters in Pune and offers business loans, personal loans and loans to professionals.

Why should you opt for Poonawalla Finance?

  • It offers the lowest rate of interest with zero prepayment charges in the NBFC sector.
  • It follows a customer centric and relationship based business model.
  • It offers the simplest and the most customizable digital lending.
  • It is built on leading technology and has adopted multiple online and offline ecosystems.
  • It helps to accelerate the growth of individuals, professionals and MSMEs (Micro, Small and Medium enterprises) with flexible funding options.
  • It aims to meet the dynamic financial needs.

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  1. That's really a great loan scheme! Thanks for sharing.

  2. This is great an interest free is a benefits for anyone saving for their future.

  3. The initiative as well as the scheme is helpful to many, Innovative and launched at right time. May it do good to many.

    - Ujjwal Mishra MywordsMywisdom

  4. Manisha - I am sure this scheme would benefit many CAs. I am glad that Poonawalla Finanace came up with such custom centric scheme.

  5. Oh this is a great way to keep your future safe and secure. Thanks for the information.

  6. This is really a great scheme for all during this tough time.

  7. I think it is a great way to secure our future .

  8. What a great offer and scheme and designed for the times to be sure. Thanks for this. Something to research in and explore

  9. It was such an insightful read; got to learn a lot & such a great scheme by them . Kudos

  10. Tough times don't seem to go away soon and this scheme was gona help quite alot of poeple.

  11. This is such a timely post, thanks!

    1. In fact, we need more such initiatives now. There are so many who are looking to start something on their own.

  12. It is definitely hard times for many of the people during covid. And I am sure these financial initiatives will help out and give some hope to many of the people struggling financially currently.

  13. The special term loan scheme does look promising. Poonawalla Finance Private Limited has done a great job indeed.

  14. This is a good product that they have launched a special scheme for CA with such terms is quite helpful and quite a relief

  15. Adar Poonawala is a big name in Pune, my hometown.
    Also my sis is a CA so this firm might help her. I will share this post with her for sure.

  16. They are doing an amazing job by coming up with these schemes, specially during these difficult times.

  17. Thanks for sharing the information about poonawalla finance.. This is great that
    It offers the lowest rate of interest and with zero prepayment charges in the NBFC sector..

  18. The scheme has come out at the right time and for sure is very beneficial. A great initiative by Poonawalla

  19. During covid , the schemes are really beneficial . It is actually a great initiative by poonawala.

  20. One of the most helpful posts. Financial crunch is a real thing and I can totally understand what the entire world is going through.

  21. At the right time the right scheme is here. I will definitely check out about this finance.

  22. This post is much needed when the nation is suffering from financial loss.

  23. Right post at the right time thank you so much for sharing this regarding loan..