If you earn Rs 15,000 or more a month, you most likely qualify. The form takes 3 minutes. The approval takes 10. The money reaches your account the same day. No branch, no guarantor, nothing to pledge.
Calculate Personal Loan EMI
Hero FinCorp is a leading Indian NBFC offering a Rs 2 Lakh Personal Loan with interest rates starting from 18% per annum, a fully unsecured structure, and same-day disbursal. NBFCs in India typically price unsecured personal loans between 18% per annum, and the actual rate offered to a borrower depends on credit score, monthly income, employment stability, and debt-to-income ratio.
The rate you actually receive is decided after credit-bureau assessment, so a borrower with a CIBIL score of 725+ and a stable income profile is more likely to be offered the lower end of the published rate band.
Visit the Hero FinCorp website, go to Personal Loan and click ‘Apply Now’.
Enter your mobile number and confirm the OTP.
Choose Rs 2 Lakh and your preferred repayment tenure.
Provide your PAN and Aadhaar details for instant e-KYC verification.
Review and submit. Approval in as few as 10 minutes.
Once approved, the loan amount is transferred directly to your bank account.
The EMI for a Rs 2 Lakh Personal Loan at 18% per annum ranges from Rs 7,230 to Rs 18,336 per month, depending on the tenure you select. To calculate it online, open the Personal Loan EMI Calculator on the Hero FinCorp website and enter three inputs: loan amount (Rs 2,00,000), interest rate, and tenure.
EMI formula used (reducing balance): EMI = [P × R × (1+R)^N] ÷ [(1+R)^N – 1], where P = principal, R = monthly interest rate (annual rate ÷ 12 ÷ 100), and N = tenure in months.
Indicative EMI on Rs 2 Lakh at 18% p.a.:
| Tenure (Months) | EMI (Rs) | Interest (Rs) | Total Payable (Rs) |
| 12 | 18,336 | 20,032 | 2,20,032 |
| 18 | 12,761 | 29,701 | 2,29,701 |
| 24 | 9,985 | 39,636 | 2,39,636 |
| 30 | 8,328 | 49,835 | 2,49,835 |
| 36 | 7,230 | 60,297 | 2,60,297 |
Figures are indicative and calculated on a reducing-balance basis. The actual EMI varies with the rate offered to you.
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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