Money & Banking

Poonawalla Finance, ICSI tie up to offer collateral-free loan for company secretaries

Our Bureau Mumbai | Updated on November 18, 2020

Adar Poonawalla, Chairman, Poonawalla Finance

Poonawalla Finance Pvt Ltd, a non-deposit taking NBFC, has entered into a tie-up with the Institute of Company Secretaries of India (ICSI) to offer collateral-free special term loan product to over 65,000 Company Secretaries.

The agreement will help ICSI members fulfil the financial requirements for their professional practice and personal emergencies, the company said in a statement.

The special term loan scheme carries zero processing fees for loans up to 36 months, attractive interest rate, zero prepayment charges, zero collateral and 100 per cent digital processing with minimum documentation. It also comes with an option to take-over existing loans with higher interest rates.

The loan amount ranges from ₹2-30 lakh with flexible repayment tenure between 12-60 months. The loans can be availed with four easy steps: online application, document upload, approval in 24 hours and online loan disbursal.

"As the economy is recovering from the pandemic impact, our focus is on offering credit support to the MSMEs and professionals like company secretaries so that they can further boost the entrepreneurial ecosystem and fuel economic growth. We are committed to creating a favourable environment for the entrepreneurs to grow,” said Adar Poonawalla, Chairman, Poonawalla Finance.

Headquartered in Pune, Poonawalla Finance is part of Cyrus Poonawalla Group. Cyrus Poonawala, who owns Serum Institute which is developing a vaccine for Covid-19, occupies sixth position in the Hurun Rich List.

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Published on November 18, 2020

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