Poonawalla Fincorp Limited — Updates, 03-03-2025: Press Release

Poonawalla Fincorp has launched an innovative industry-first product, the PL Prime Digital 24x7 personal loan tailored specifically for salaried professionals. This fully digital offering allows eligible customers to secure loans of up to ₹15 lakh with instant approvals through a completely paperless process, available 24/7 via the company’s mobile app and website. The initiative aims to enhance convenience in accessing credit for both urgent and planned expenses while eliminating traditional bottlenecks associated with loan processing.

This launch aligns with the rising demand in India’s personal loan segment, which has grown by 27% year-on-year, reflecting a heightened reliance on unsecured credit. The company emphasizes a risk-first approach to lending, ensuring pricing adjustments based on risk calibration. Poonawalla Fincorp aims to leverage disruptive technology to simplify the lending process and enhance customer experience, reinforcing its commitment to innovation in the financial services sector. Overall, this development positions the company favorably within the growing digital lending landscape, presenting opportunities for sustained growth.