Poonawalla Fincorp Limited (PFL), a non-banking finance company under the Cyrus Poonawalla Group, announced today its entry into the education loan market. The company will offer loans up to ₹3 crore for students pursuing higher education at international universities.
The shares of Poonawalla Fincorp Limited (PFL) were trading at ₹290.40 up by ₹1.95 or 0.68 per cent on the NSE today at 10.07 am.
The new service includes an industry-first feature providing instant sanctions for education loans up to ₹75 lakh. Students can secure financing of up to ₹1 crore without collateral, while larger amounts up to ₹3 crore require collateral.
Also read: Rupee plunges 30 paise to 87.25 against US dollar in early trade
“Education is the most powerful investment in the future, and finance should never be a barrier to ambition,” said Arvind Kapil, Managing Director & CEO of Poonawalla Fincorp.
The loans will cover comprehensive expenses including tuition, living costs, travel, books, and insurance premiums for both students and co-applicants.
- Also read: SolitAir to invest $25 mn in Indian market this year: CEO Hamdi Osman
This launch follows PFL’s recent introduction of digital prime personal loans for salaried professionals, aligning with the company’s strategy to diversify its product portfolio.
PFL, headquartered in Pune, reported an Assets Under Management (AUM) of ₹30,984 crore as of December 31, 2024. The company currently operates across 18 states and 2 Union Territories with approximately 2,560 employees.
