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Poonawalla Finance Launches Special Term Loans For Chartered Accountants (CAs)

At a time when many professionals are facing financial issues due to Covid-19 pandemic, Poonawalla Finance is lending a helping hand by offering special term loans to Chartered Accountants (CAs). The special term loan scheme aims to benefit more than three lakh CAs, who are registered members of the prestigious ICAI (Institute of Chartered Accountants of India).

Within one month of the launch of this special scheme, Poonawalla Finance has already received more than 4,000 loan applications. More than 1,500 Chartered Accountants have already benefited, as funds totaling Rs 150 crore have been sanctioned for them.

Here are some of the key highlights of the special term loan scheme launched by Poonawalla Finance.

Personal loan and professional loan – Chartered Accountants can apply for both personal loan and professional loan based on their specific requirement. It will help them tide over any financial problems related to their professional practice or personal finance needs.

Attractive interest rate – Poonawalla Finance is offering term loans to CAs at attractive interest rates. The focus is on providing financial assistance to CAs in these challenging times.

Zero prepayment charges – There are no prepayment charges on the term loans provided by Poonawalla Finance to CAs. Chartered Accountants can prepay their loans if they wish without worrying about prepayment charges.

100% online digital processing – Loan processing by Poonawalla Finance is an entirely online digital process, which makes it really easy to apply for the loan and get the funds transferred into the bank account. Chartered Accountants can get everything done online without having to venture out of their homes.

Transfer existing loan with higher interest – If any Chartered Accountant has existing loan with higher interest rate, these can be repaid via the special loan scheme launched by Poonawalla Finance. The new loan will obviously be available at a lower interest rate, something that would be hugely beneficial for the borrower.

According to Mr. Adar Poonawalla, Chairman, Poonawalla Finance, such loans will be hugely beneficial for professionals like Chartered Accountants and doctors. He said that credit support to MSMEs is also the need of the hour in these challenging times. Mr. Poonawalla explained that such initiatives will encourage entrepreneurship and boost economic growth.

Mr. Abhay Bhutada, MD and CEO, Poonawalla Finance said that affordable and digitally processed loans will be a huge help to enterprises and professionals in the current market scenario. Such loans will also allow the company to expand its presence across the country, so that more and more people can benefit from this pioneering scheme.

Launched in April 2019, Poonawalla Finance is part of the USD 11.4 billion Cyrus Poonawalla Group. A non-deposit taking NBFC, Poonawalla Finance is ranked amongst the most well capitalized NBFCs in the country. It currently has more than Rs 1,500 crore as AUM (Assets Under Management).

The company has developed both online and offline ecosystems and excels in providing loan to professionals, personal loans and business loans. With its customer-centric approach and relationship-based business model, Poonawalla Finance has emerged as one of the fastest growing finance companies in the country.

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