Short answer: Poonawalla Fincorp starts slightly lower (9.99% against 10%) and drops foreclosure charges to nil after 12 EMIs. Bajaj Finance has the wider range: loans from ₹40,000 to ₹55 lakh, tenures up to 108 months, self-employed applicants and Flexi loans.
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.
Poonawalla Fincorp vs Bajaj Finance at a glance
| Poonawalla Fincorp | Bajaj Finance | |
|---|---|---|
| Type | RBI-registered NBFC | RBI-registered NBFC (Upper layer) |
| Loan amount | ₹1 lakh to ₹50 lakh | ₹40,000 to ₹55 lakh |
| Interest rate | From 9.99% a year | 10% to 30.5% a year |
| APR | Not published | Not published |
| Processing fee | Up to 4% + taxes (non-refundable) | Up to 4.13% of the loan amount, including taxes |
| Tenure | 12 to 84 months | 12 to 108 months |
| Minimum income | ₹25,000 a month | From ₹25,001 a month depending on city (₹40,000 cited for Pune, Bengaluru, Mumbai, Delhi) |
| Who can apply | Salaried (1 year experience, 1 month in current job) | Salaried (public, private or MNC); self-employed also listed |
| Age | 21 to 60 | 21 to 80 at the end of the loan |
| Prepayment and foreclosure | From own funds: 6% before 6 EMIs, 3% after 7 to 12 EMIs, nil after 12 EMIs (+ taxes). Higher if closed by balance transfer. | Term loan: up to 4.72% incl. taxes on full or part-prepayment. Flexi loans: no part-prepayment charge. |
| Product | Term loan | Term loan, Flexi Dropline and Flexi Hybrid |
| RBI-regulated lenders | Poonawalla Fincorp lends directly | Bajaj Finance lends directly |
| On RBI’s digital lending app list | Yes: 1 RBI-regulated lender lists it; 1Cr+ installs, rated 4.6 | Yes: 1 RBI-regulated lender lists it; 10Cr+ installs, rated 4.7 |
| Also worth knowing | Nil foreclosure from own funds after 12 EMIs; Credit score 700+; Balance transfer option | Flexi loans charge interest only on the amount withdrawn; Flexi Hybrid: interest-only EMIs for up to 36 months; CIBIL score 650 or higher |
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 |
|---|---|---|---|---|---|---|
| Poonawalla Fincorp | Lowest advertised rate, highest fee | 9.99% | ₹9,679 | ₹48,435 | ₹14,160 | ₹62,595 |
| Bajaj Finance | Lowest advertised rate | 10% | ₹9,680 | ₹48,486 | ₹12,390 | ₹60,876 |
| Bajaj Finance | Highest advertised rate | 30.5% | ₹12,818 | ₹1,61,440 | ₹12,390 | ₹1,73,830 |
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
- Loan size: Poonawalla ₹1 lakh to ₹50 lakh; Bajaj ₹40,000 to ₹55 lakh.
- Tenure: Poonawalla up to 84 months; Bajaj up to 108 months.
- Foreclosure: Poonawalla nil after 12 EMIs (own funds); Bajaj up to 4.72% on term loans.
- Credit score: Poonawalla 700+; Bajaj 650+.
Which should you choose?
Poonawalla Fincorp may suit you if you want to close the loan early after the first year without a charge and have a score of 700 or more.
Bajaj Finance may suit you if you need under ₹1 lakh, a very long tenure, a Flexi line, or have a score between 650 and 700.
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
Which is cheaper, Poonawalla Fincorp or Bajaj Finance?
Their starting rates are almost the same (9.99% and 10%). Poonawalla’s maximum fee (4% + taxes) is a little higher than Bajaj’s (4.13% including taxes). The bigger difference is the foreclosure charge if you repay early.
Can self-employed people borrow from Poonawalla Fincorp?
Its personal loan page lists salaried applicants only. Bajaj Finance lists both salaried and self-employed profiles.
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
- Poonawalla Fincorp personal loan page
- Bajaj Finance personal loan page
- Bajaj Finance loan for salaried
Read more: Poonawalla Fincorp app review · Bajaj Finance app review · Poonawalla Fincorp lender profile · Bajaj Finance 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.