Flexible Repayment Tenure:
Choose a flexible repayment tenure of 12-36 months that fits your budget.
₹ 1.5 Lakhs Personal Loan
Loan up to ₹1.5 Lakhs
Minimum Salary Required ₹15K
Instant Approval
Tenure up to 36 Months
Personal Loan EMI Calculator
Get a ₹ 1.5 Lakhs Personal Loan Instantly
A Personal Loan is an absolute boon for anyone in need of urgent cash for any personal requirement. Be it a wedding, a home renovation project, higher education, or debt consolidation, with a Personal Loan, you can avail of cash instantly online.
Although we can approve an instant loan from Rs 50,000 to 5,00,000 online, Rs 1.5 Lakh Personal Loan seekers can get approved instantly within 10 minutes.
Both salaried and self-employed loan seekers can avail of instant loans from Hero FinCorp. With competitive interest rates and a flexible repayment tenure of 12 to 36 months, our Personal Loans have no collateral requirement.
Simply check your eligibility, calculate your EMIs via the Personal Loan Calculator, and reduce the effort by applying on the Hero FinCorp loan app or website to get instant approval backed by quick disbursal.
Why Opt for ₹ 1.5 Lakh Personal Loan?
A Personal Loan of Rs 1.5 lakh can be a helpful financial tool for unexpected expenses or short-term goals. This loan amount can help cover medical bills, home repairs, or even an international vacation. With our flexible repayment options, you can break down the 1.5 lakh Personal Loan EMI into affordable monthly instalments, making it easier to budget and avoid financial strain.
EMI for Personal Loan of Rs 1.5 Lakh for up to 3 Years
At Hero FinCorp, we offer a minimum tenure of 12 months to make it simpler for you to manage your 1.5 lakh Personal Loan EMI. And if you would like to spread your repayment over a year or two, we also have a maximum tenure of 36 months. Check out the table below for more insights:
| Loan Amount (Rs) | Tenure (in Months) | Interest Rate* (%) | Monthly EMI (Rs) | Total Interest | Total Amount Payable |
| ₹ 1,50,000 | 12 | 19% | ₹ 13,823 | ₹ 15,882 | ₹ 1,65,882 |
| ₹ 1,50,000 | 18 | 19% | ₹ 9,643 | ₹ 23,565 | ₹ 1,73,565 |
| ₹ 1,50,000 | 24 | 19% | ₹ 7,561 | ₹ 31,471 | ₹ 1,81,471 |
| ₹ 1,50,000 | 30 | 19% | ₹ 6,320 | ₹ 39,597 | ₹ 1,89,597 |
| ₹ 1,50,000 | 36 | 19% | ₹ 5,498 | ₹ 47,943 | ₹ 1,97,943 |
Features and Benefits of Personal Loan of Rs 1.5 Lakh
Unlock flexibility with a Personal Loan. Explore features & benefits of a Rs 1.5 lakh loan:
Instant Approval:
Get a fast decision on your loan application and receive funds within minutes of approval.
Instant Loan Amount:
Get the Rs 1.5 lakh you need to cover larger expenses, from unexpected bills to dream vacations.
Attractive Interest Rate:
Enjoy competitive rates of up to 19% per annum to make your loan repayment manageable.
Collateral-Free:
There is no need to pledge assets; get collateral-free loans based on your creditworthiness.
Eligibility Criteria of Personal Loan for Rs 1.5 Lakh
Before applying for a Rs 1.5 Lakh Personal Loan, you must check the eligibility criteria. You can use the Personal Loan Eligibility Calculator on our website to know the eligible loan amount, loan EMI and max loan tenure by entering your profession, current EMI payments, monthly income and loan tenure.
The basic requirements to apply for a Personal loan with Hero FinCorp include:
Citizenship
Being an Indian resident citizen is a must.
Work Experience
Minimum work experience for salaried employees is 6 months and 2 years for self-employed.
Monthly Income
Minimum income requirements of Rs 15,000 per month.
Age
Be between 21-58 years.
Documents Required of Personal Loan for Rs 1.5 Lakh
Hero FinCorp does not have very rigorous documentation requirements to apply for its Personal Loan. Hero FinCorp accepts applications for a loan from salaried and self-employed individuals. The required documents for the Personal Loan differ from salaried to self-employed applicants. Let’s see.
Documents required for Salaried
Mandatory Documents
Duly filled application form, Passport-size photograph
Identity Proof
Driving License, Passport, PAN Card, Aadhaar Card (Any One)
Address Proof
Driving License, Passport, Aadhaar Card, Ration Card, Utility Bill (Any One)
Ownership Proof
Residence Ownership Proof (Electricity Bill, Maintenance Bill, Property Document)
Income Proof
Last 6 Months Salary Slips, Bank Statements and Form 16
Documents required for Self Employed
Mandatory Documents
Duly filled application form, Passport-size photograph
Identity Proof
Driving License, Passport, PAN Card, Aadhaar Card (Any One)
Address Proof
Driving License, Passport, Aadhaar Card, Ration Card, Utility Bill (Any One), Office Address Proof (if applicable)
Ownership Proof
Business Existence Proof (Tax Registration, Shop Establishment Proof, Company Registration Certificate)
Income Proof
Last 6 Months' Bank Statements and ITR for 2 Years
Personal Loan Interest Rates for Rs 1.5 Lakhs
At Hero FinCorp, we understand that unexpected expenses can arise anytime. That's why we offer Rs 1.5 Lakh Personal Loans with a hassle-free application process that minimises paperwork. Plus, we offer competitive Personal Loan interest rates to make repayment manageable.
However, it's important to consider additional fees beyond the interest rate to determine your total loan cost. Here's a quick breakdown:
| Loan Details | Charges/Details |
|---|---|
| Interest Rate | Starting from 1.58% per month |
| Loan Processing Charges | Minimum Processing fee is 2.5% + GST |
| Prepayment Charges | N.A. |
| Foreclosure Charges | 5% + GST |
| EMI Bounce Charges | Rs 350/- |
| Interest on Overdue EMIs | 1-2% of the loan/EMI Overdue Amount Per Month |
| Cheque Bounce | Fixed Nominal Penalty |
| Loan Cancellation | 1. Loan app does not charge cancellation charges 2. Interest amount paid is non-refundable 3. Processing charges are non-refundable |
How to Apply for a Personal Loan for Rs 1.5 Lakhs?
To secure a loan of 1.5 lakh from Hero FinCorp, here are a few steps you need to follow:
- 1
Visit the Hero FinCorp website or install the Personal Loan app
- 2
Go to the Personal Loan page and click ‘apply now’.
- 3
Enter your mobile number and verify with the OTP received
- 4
Choose the loan amount you need
- 5
Verify your KYC details to check income eligibility
- 6
Click ‘Submit’ to complete your application
Uses of Personal Loan of Rs 1.5 Lakh
You can use a Personal Loan of Rs 1.5 Lakh for a variety of reasons. Here are some of the applications of a Personal Loan:
Education Expenses
You can finance tuition fees, books, or improve your skill set through classes, and so on with a Personal Loan for Education.
Wedding Expenses
You can use a Personal Loan for wedding expenses, including venue, catering, outfits, and so on.
Travel and Vacation
You can utilise a Personal Loan for Travel and finance a domestic or international trip.
Business Expenses
You can expand an existing business or use funds from a Personal Loan as start-up capital.
Consumer Durable Expenses
You can use a Personal Loan for Consumer Durables if you want to purchase a laptop, smartphone, or household appliances.
Vehicle Payment or Repair
You can use your Personal Loan for a vehicle purchase, for example, a two-wheeler or down payment for a car; alternatively, the proceeds from a Personal Loan can be used for repairs and maintenance of your vehicle.
Emergency Fund
A Personal Loan can be used as a quick source of money to act as a financial contingency plan in an unplanned event.
Medical Expenses
A Personal Loan for medical emergencies can be used for any hospital bills, surgery, or any other healthcare expenses.
Home Renovation
You can use a Personal Loan for Home Renovation to remodel your home—for example, painting or structural changes.
1.5 lakh personal loan Related Blogs
Frequently Asked Questions
The EMI amount depends on your interest rate and loan tenure. However, you can use the Hero FinCorp online EMI calculator to estimate your EMI based on your specific amount.
Yes, income proof, like bank statements, salary slips, or ITRs is necessary to evaluate repayment ability of the applicant applying for a Rs 1.5 Lakh Personal Loan.
An online EMI calculator makes it easy to calculate your EMI. It shows an estimated monthly repayment amount based on the loan amount, interest rate, and tenure.
The monthly interest rate on a Rs 1.5 loan with an interest rate of 19% per annum is approximately 1.58%.
The minimum salary requirement at Hero FinCorp to avail of a Personal Loan of Rs 1.5 Lakh is Rs 15,000 per month.
Yes, you can get a Personal Loan of Rs 1.5 Lakh even if you do not have salary slips. You can submit your Form 16, ITRs or bank statements as proof of income.
You can apply online through the Hero FinCorp website or loan app with KYC documents and proof of income for instant approval. It can get approved within 10 minutes if eligibility and verification standards are met.
Yes, you can obtain a Rs 1.5 Lakh loan amount even with a low CIBIL score. However, it will depend on the lender's policies and may result in higher interest rates or lower loan amounts.
Hero FinCorp loan app provides an instant approval of Personal Loan of Rs 1 Lakh in 10 minutes with minimum documents.
No, you need to provide documents related to KYC and income proof for a Rs 1.5 Lakh Personal Loan whether you apply online or through your nearest branch in person.
Yes, you can easily get approval for a Personal Loan of Rs 1.5 Lakh for emergency within 10 minutes when you apply on the Hero FinCorp website or loan app.