Poonawalla Fincorp up 2.5%

Poonawalla Fincorp announced today morning that has forayed into education loans. The company aims at providing faster turnaround time and quick sanctions to deliver hassle-free experience, with this instant sanction being made available to both new and existing PFL customers.

Key Features of Poonawalla Fincorp's Education Loans:

• Loan Amounts:
  • Up to Rs.3 crore with collateral, covering expenses such as tuition, living costs, travel, books, and insurance premiums.
  • Up to Rs.1 crore without collateral, offering flexibility for students without significant assets.
• Instant Sanction:
  • An industry-first initiative providing instant approval for loans up to Rs.75 lakh, ensuring a swift decision-making process.
• Competitive Interest Rates:
  • Designed to make financing more accessible for students planning to study abroad.

The stock is in the green since this news came in. From its close of Rs.288.25, it opened a little over 0.5% higher at Rs.290 and rose to an intraday high at Rs.294.90, up 2.5%. Its 52-week high and low stands at Rs.513.95 and Rs.267.25 respectively.