Poonawalla Fincorp's Innovative Approach to Unsecured Loans

In a bold move against the current financial trends, Poonawalla Fincorp is expanding its portfolio by offering unsecured loans up to Rs 15 lakh, disbursed digitally in just 15 minutes. This initiative targets 'premium' borrowers, aiming to diversify the company's lending portfolio while maintaining low delinquency rates among top white-collar professionals.

CEO Arvind Kapil, known for his groundbreaking work at HDFC Bank, is leading this venture. With interest rates starting at 12%, the loans are tailored for salaried individuals, with plans to extend to self-employed professionals soon. This strategic move is part of the Poonawalla group's broader ambition to delve into retail lending, leveraging its global success with the Covid vaccine and the acquisition of Magma Fincorp to establish a robust platform in the financial services sector.

Expanding Horizons in Financial Services

Under Kapil's leadership, Poonawalla Fincorp has undergone significant transformation, relocating its corporate office to Mumbai and assembling a team of seasoned bankers. This shift underscores the company's commitment to innovation and excellence in the competitive lending market.