Get instant access to Rs 2 Lakh with Hero FinCorp’s Personal Loan. Apply online, receive approval in as few as 10 minutes, and choose a repayment tenure that fits your budget – all without pledging any collateral.
Calculate Personal Loan EMI
Hero FinCorp, a leading NBFC backed by the Hero Group, offers Personal Loans designed around the real financial needs of salaried professionals and self-employed individuals. Here is what sets the offering apart:
Hero FinCorp offers two convenient channels for loan applications – the official website and the Personal Loan mobile app. Follow the steps below:
Visit the Hero FinCorp Website: Navigate to the Personal Loan section and click ‘Apply Now’.
Verify Your Mobile Number: Enter your registered mobile number and confirm the OTP sent to it.
Select Your Loan Amount: Choose Rs 2 Lakh (or the amount you need) and your preferred repayment tenure.
Complete e-KYC: Provide your PAN and Aadhaar details for instant digital verification.
Submit Your Application: Review the details and click ‘Submit’. Approval can come through in as few as 10 minutes.
Receive Disbursal: Once approved, the loan amount is transferred directly to your bank account.
Understanding your EMI obligation before you borrow is essential for healthy financial planning. The table below illustrates approximate EMI amounts for a Rs 2 Lakh Personal Loan at 18% per annum across different tenures. Use the Personal Loan EMI Calculator on the Hero FinCorp website for a personalised estimate.
| Loan Amount | Tenure (Months) | Interest Rate (p.a.) | Monthly EMI | Total Interest | Total Payable |
| Rs 2,00,000 | 12 | 18% | 18,336 | 20,032 | 2,20,032 |
| Rs 2,00,000 | 18 | 18% | 12,761 | 29,701 | 2,29,701 |
| Rs 2,00,000 | 24 | 18% | 9,985 | 39,636 | 2,39,636 |
| Rs 2,00,000 | 30 | 18% | 8,328 | 49,835 | 2,49,835 |
| Rs 2,00,000 | 36 | 18% | 7,230 | 60,297 | 2,60,297 |
Disclaimer: The EMI figures above are approximate and calculated using the standard reducing-balance method. Actual EMI may differ based on the interest rate offered to you. Use the Personal Loan EMI Calculator on the website for a precise estimate.
Meeting the eligibility requirements is the first step towards a successful application. Hero FinCorp keeps the criteria straightforward to ensure a wide base of applicants can access funds when they need them.
| Parameter | Requirement |
| Age | 21 to 58 years |
| Citizenship | Indian citizen or resident |
| Employment | Salaried (min 6 months) or Self-Employed (min 2 years of stable operations) |
| Monthly Income | Minimum Rs 15,000 per month |
| Credit Score | 725+ preferred for faster approval; applicants with lower scores may still be considered on a case-by-case basis |
Hero FinCorp's digital-first approach means physical documents are typically not required. The application process relies on digital consent and online verification. However, keep the following handy:
The entire verification is digital – simply provide consent for e-KYC, and we will verify your details electronically. No salary slips, bank statements, or physical document submissions are needed for the standard online application process.
Transparency in fees is a cornerstone of responsible lending. Below is a comprehensive overview of the charges associated with a Rs 2 Lakh Personal Loan from Hero FinCorp.
| Fee / Charge | Details |
| Interest Rate | Starting from 18% per annum |
| Processing Fee | Minimum 2.5% + GST |
| Prepayment Charges | Not Applicable |
| Foreclosure Charges | 5% + GST of the outstanding principal |
| EMI Bounce Charges | Rs 350 per instance |
| Loan Cancellation | No cancellation charges on the online app; processing fee and interest paid are non-refundable |
Note: The above charges are indicative and effective as of the latest schedule. GST at the applicable rate is charged on processing and foreclosure fees. Always confirm the current schedule of charges before applying.
A Personal Loan of Rs 2 Lakh can serve a wide range of financial needs. Since there are no end-use restrictions (other than legality), you have complete flexibility in how you utilise the funds:
The interest rate on your Personal Loan is not one-size-fits-all. Several variables influence the rate offered to you:
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