Short answer: Poonawalla Fincorp advertises the lower starting rate (9.99% against 10.99%) and fee (up to 4% against up to 5%), and charges nothing to foreclose from your own funds after 12 EMIs. Tata Capital lends from ₹40,000 against Poonawalla’s ₹1 lakh minimum, needs ₹20,000 income against ₹25,000, and allows 25% part-prepayment free.
Last verified: 12 October 2026 from each company’s official website and, where marked, its Google Play listing. Rates and fees change; the lender’s Key Fact Statement (KFS) and loan agreement decide your actual terms. FundsTiger does not rank lenders.
Tata Capital vs Poonawalla Fincorp at a glance
| Tata Capital | Poonawalla Fincorp | |
|---|---|---|
| Type | RBI-registered NBFC (Upper layer) | RBI-registered NBFC |
| Loan amount | ₹40,000 to ₹35 lakh | ₹1 lakh to ₹50 lakh |
| Interest rate | From 10.99% a year (reducing balance) | From 9.99% a year |
| APR | Not published | Not published |
| Processing fee | Up to 5% + taxes | Up to 4% + taxes (non-refundable) |
| Tenure | Up to 6 years | 12 to 84 months |
| Minimum income | ₹20,000 a month | ₹25,000 a month |
| Who can apply | Salaried (1 year in current job, 2 years total) | Salaried (1 year experience, 1 month in current job) |
| Age | 21 to 58 | 21 to 60 |
| Prepayment and foreclosure | Part-prepay up to 25% of the disbursed amount free; Tata Capital’s own FAQ cites 6.5% foreclosure within 12 months and 4.5% after | From own funds: 6% before 6 EMIs, 3% after 7 to 12 EMIs, nil after 12 EMIs (+ taxes). Higher if closed by balance transfer. |
| Product | Term loan; Hybrid Term Loan option | Term loan |
| RBI-regulated lenders | Tata Capital lends directly | Poonawalla Fincorp lends directly |
| On RBI’s digital lending app list | Yes: 2 RBI-regulated lenders list it; 50L+ installs, rated 4.4 | Yes: 1 RBI-regulated lender lists it; 1Cr+ installs, rated 4.6 |
| Also worth knowing | Hybrid option charges interest only on the amount used; CIBIL 725+ preferred | Nil foreclosure from own funds after 12 EMIs; Credit score 700+; Balance transfer option |
Install counts and ratings are from Google Play, as recorded on RBI’s digital lending app list check of 5 October 2026.
What a ₹3 lakh loan over 36 months would cost
We costed the same loan on each lender’s advertised figures, using the standard reducing-balance EMI formula and adding 18% GST to fees where the lender quotes them before tax. The lowest advertised rate is usually for the strongest credit profiles; many borrowers are offered more.
| Lender | Scenario | Rate a year | EMI | Total interest | Fee incl. GST | Total cost |
|---|---|---|---|---|---|---|
| Tata Capital | Lowest advertised rate, highest fee | 10.99% | ₹9,820 | ₹53,527 | ₹17,700 | ₹71,227 |
| Poonawalla Fincorp | Lowest advertised rate, highest fee | 9.99% | ₹9,679 | ₹48,435 | ₹14,160 | ₹62,595 |
Try your own numbers in our personal loan EMI calculator. For loans quoted only as APR, the APR already includes fees, so the total is an estimate.
Key differences
- Smallest loan: ₹40,000 at Tata Capital; ₹1 lakh at Poonawalla.
- Closing early: Poonawalla charges 6%, then 3%, then nil after 12 EMIs. Tata Capital’s FAQ cites 6.5% within 12 months and 4.5% after.
- Job history: Poonawalla needs 1 year of experience but only 1 month in your current job; Tata Capital needs 1 year in the current job.
- Credit score: Poonawalla asks for 700+; Tata Capital prefers 725+.
Which should you choose?
Tata Capital may suit you if you need less than ₹1 lakh, earn ₹20,000 to ₹25,000, or want to part-prepay up to 25% without a charge.
Poonawalla Fincorp may suit you if you recently changed jobs or plan to close the loan in full after a year.
Whichever you pick, compare the APR in the KFS you are actually offered, not the advertised starting rate.
Before you apply
- Find the lender’s name in the app and check it on RBI’s list of digital lending apps or our RBI-registered NBFC search.
- Read the Key Fact Statement (KFS) before you accept. It must show the APR, every fee and the total you will repay.
- Never pay a fee before the loan is disbursed. Regulated lenders deduct fees from the loan or add them to the EMI.
- Apply to one or two lenders, not ten. Each application is a hard enquiry on your credit report.
- Check that the EMI fits your budget with our FOIR calculator.
Want to see offers from several RBI-regulated lenders in one place?
Frequently asked questions
Does Poonawalla Fincorp charge for foreclosure?
Not after 12 EMIs if you close it from your own funds. Before that it charges 6% (under 6 EMIs) or 3% (7 to 12 EMIs), plus taxes. Closing through a balance transfer costs more.
What is the minimum loan from Tata Capital?
Its personal loan page shows ₹40,000, though its own FAQ says loans generally range from ₹75,000. Check when you apply.
Are these lenders RBI-regulated?
The loans described here are given by RBI-registered NBFCs or banks named in the table. Check the lender named in your loan agreement on RBI’s digital lending app list.
Where do these figures come from?
From each company’s official website and, where noted, its Google Play listing, checked on 12 October 2026. Where a company’s own pages disagree, we show both figures.
Sources
Read more: Tata Capital app review · Poonawalla Fincorp app review · Tata Capital lender profile · Poonawalla Fincorp lender profile · All loan app reviews · Lender directory
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Disclosure: FundsTiger (Gatimaan Finance Advisors Pvt. Ltd.) is a loan marketplace and lending service provider for RBI-regulated lenders. Aparampaar Finance Pvt. Ltd. (Omozing), one of those lenders, is a related party of FundsTiger. This article is general information, not financial advice. Read your loan agreement and KFS before you decide.