Poonawalla Fincorp ties up with ICSI for collateral-free term loans

Poonawalla Fincorp Limited said that it has inked a memorandum of understanding (MoU) with the Institute of Company Secretaries of India (ICSI) for offering collateral-free term loans to the latter’s members and employees.

The scheme will benefit more than 65,000 ICSI members across India, claimed the Indian non-banking finance company (NBFC), which was previously called Magma Fincorp.

Poonawalla Fincorp said that the scheme provides an attractive interest rate, zero prepayment charges, and other benefits.

According to Poonawalla Fincorp, the scheme is a unique offering that covers company secretaries professionals across India powered by a fully digital and 100% paperless process along with E-Agreement and E-NACH for a complete online offering.

Abhay Bhutada — Managing Director of Poonawalla Fincorp said: “We believe that for entrepreneurial growth to thrive, professionals like company secretaries need to be supported in fulfilling their financial needs. This scheme is a step in this direction.”