1.5 Lakh Loan EMI Calculator
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, or higher education, 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.
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.
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 |
| Rs 1,50,000 | 12 | 19% | Rs 13,823 | Rs 15,882 | Rs 1,65,882 |
| Rs 1,50,000 | 18 | 19% | Rs 9,643 | Rs 23,565 | Rs 1,73,565 |
| Rs 1,50,000 | 24 | 19% | Rs 7,561 | Rs 31,471 | Rs 1,81,471 |
| Rs 1,50,000 | 30 | 19% | Rs 6,320 | Rs 39,597 | Rs 1,89,597 |
| Rs 1,50,000 | 36 | 19% | Rs 5,498 | Rs 47,943 | Rs 1,97,943 |
Unlock flexibility with a Personal Loan. Explore features & benefits of a Rs 1.5 lakh loan:
Choose a flexible repayment tenure of 12-36 months that fits your budget.
Get a fast decision on your loan application and receive funds within minutes of approval.
Get the Rs 1.5 lakh you need to cover larger expenses, from unexpected bills to dream vacations.
Enjoy competitive rates of up to 19% per annum to make your loan repayment manageable.
There is no need to pledge assets; get collateral-free loans based on your creditworthiness.
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:
Being an Indian resident citizen is a must.
Minimum work experience for salaried employees is 6 months and 2 years for self-employed.
Minimum income requirements of Rs 15,000 per month.
Be between 21-58 years.
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.
Duly filled application form, Passport-size photograph
Driving License, Passport, PAN Card, Aadhaar Card (Any One)
Driving License, Passport, Aadhaar Card, Ration Card, Utility Bill (Any One)
Residence Ownership Proof (Electricity Bill, Maintenance Bill, Property Document)
Last 6 Months Salary Slips, Bank Statements and Form 16
Duly filled application form, Passport-size photograph
Driving License, Passport, PAN Card, Aadhaar Card (Any One)
Driving License, Passport, Aadhaar Card, Ration Card, Utility Bill (Any One), Office Address Proof (if applicable)
Business Existence Proof (Tax Registration, Shop Establishment Proof, Company Registration Certificate)
Last 6 Months' Bank Statements and ITR for 2 Years
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 |
To secure a loan of 1.5 lakh from Hero FinCorp, here are a few steps you need to follow:
Visit the Hero FinCorp website or install the personal loan app
Go to the instant personal loan page and click ‘apply now’.
Enter your mobile number and verify with the OTP received
Choose the loan amount you need
Verify your KYC details to check income eligibility
Click ‘Submit’ to complete your application
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:
You can finance tuition fees, books, or improve your skill set through classes, and so on with a personal loan for education.
You can use a personal loan for wedding expenses, including venue, catering, outfits, and so on.
You can utilise a personal loan for travel and finance a domestic or international trip.
You can expand an existing business or use funds from a instant cash loan as start-up capital.
You can use a personal loan for consumer durables if you want to purchase a laptop, smartphone, or household appliances.
A online quick loan can be used for vehicle purchase, down payment, or repairs and maintenance.
A personal loan can be used as a quick source of money to act as a financial contingency plan in an unplanned event.
A personal loan for medical emergencies can be used for any hospital bills, surgery, or any other healthcare expenses.
You can use a personal loan for home renovation to remodel your home—for example, painting or structural changes.
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