- Sanctioned loan to more than 1,500 CAs within the first month of the launch of the scheme
- Scheme to offer Personal Loan and Professional Loan at an attractive interest rate and zero prepayment charges
- Aims to benefit over 3 lakh Chartered Accountants across the country
MUMBAI, India, Aug. 13, 2020 /PRNewswire/ -- Poonawalla Finance Private Limited, a systemically important non-deposit taking NBFC, has entered into an MOU to offer a collateral-free special term loan scheme with an aim to benefit over three lakh Chartered Accountants, who are the members of the ICAI. The loan scheme will further shore up their financial requirements towards their professional practice as well as to meet their personal exigencies at a time when COVID-19 has caused liquidity crunch across all sectors.
Poonawalla Finance has received more than 4,000 loan applications and has sanctioned loan worth Rs.150 crore to more than 1,500 Chartered Accountants within the first month of the launch of this scheme.
The unique term loan, tailor-made scheme for the Chartered Accountant professionals, offers an attractive interest rate, zero prepayment charges, 100% online digital processing and gives the option to take over their existing loans with 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."
About Poonawalla Finance Private Limited:
Poonawalla Finance Private Limited is a systematically important non-deposit taking NBFC and is part of Cyrus Poonawalla Group having net-worth of USD 11.4 billion.
Poonawalla Finance which started in April 2019 has crossed INR 1,500 Crores in AUM and is one of the most well capitalized NBFCs in the country. Headquartered in Pune, it offers the simplest and most customizable digital lending, built on leading technology and has adopted multiple online and offline ecosystems. It aims to meet the dynamic financial needs of individuals/ professionals and MSMEs, thereby accelerating their growth with flexible funding options. Poonawalla Finance offers Business Loans, Personal Loans and Loan to Professionals.
Poonawalla Finance follows a customer-centric and relationship-based business model to remain on the growth path that helps to create more services for the customers in the small ticket lending space and is proud to claim that it offers the lowest rate of interest with zero prepayment charges in the NBFC sector.
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Media Contact:
Lokesh Srivastava
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