Medical Emergencies
Cover hospitalisation costs, elective procedures, or ongoing treatments without depleting your savings.
Rs 2 Lakh Personal Loan
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.
Approval in 10 Minutes
No Collateral Required
Minimum Salary Rs 15,000/month
Calculate Personal Loan EMI
Why Choose Hero FinCorp for a Rs 2 Lakh Personal Loan?
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:
- No Collateral or Guarantor Required: The loan is fully unsecured. You can apply without involving a third-party guarantor or pledging any asset.
- End-to-End Digital Journey: From application to disbursal, the process is entirely online. No branch visits, no physical document submissions.
- Flexible Repayment Tenure: Choose a tenure from 12 to 36 months. A shorter tenure reduces your overall interest outgo, while a longer tenure lowers your monthly EMI burden.
- Transparent Fee Structure: All charges – processing fees, foreclosure terms, and bounce penalties – are disclosed upfront so you can plan your finances with clarity.
- Pan-India Availability: Whether you are in a metro city or a Tier-2 town, you can apply for the loan online from anywhere in India.
How to Apply for a Rs 2 Lakh Personal Loan Online
Hero FinCorp offers two convenient channels for loan applications – the official website and the Personal Loan mobile app. Follow the steps below:
- 01
Visit the Hero FinCorp Website: Navigate to the Personal Loan section and click ‘Apply Now’.
- 02
Verify Your Mobile Number: Enter your registered mobile number and confirm the OTP sent to it.
- 03
Select Your Loan Amount: Choose Rs 2 Lakh (or the amount you need) and your preferred repayment tenure.
- 04
Complete e-KYC: Provide your PAN and Aadhaar details for instant digital verification.
- 05
Submit Your Application: Review the details and click ‘Submit’. Approval can come through in as few as 10 minutes.
- 06
Receive Disbursal: Once approved, the loan amount is transferred directly to your bank account.
Rs 2 Lakh Personal Loan EMI – Indicative Repayment Schedule
To calculate the EMI for a Rs 2 Lakh Personal Loan online, use the Personal Loan EMI Calculator on the Hero FinCorp website enter the loan amount, interest rate, and tenure to get an instant result. Indicative EMIs at 18% per annum are:
| 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.
Eligibility Criteria
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 |
Paperless Documents Required
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:
- PAN Card Number – for identity and tax verification.
- Aadhaar Card Number – for address and KYC verification via e-KYC.
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.
Interest Rates and Charges
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.
Common Uses of a Rs 2 Lakh Personal Loan
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:
Factors That Affect Your Rs 2 Lakh Personal Loan Interest Rate
The interest rate on your Personal Loan is not one-size-fits-all. Several variables influence the rate offered to you:
Tips to Strengthen Your Eligibility
- Maintain a credit score of 725 or above by paying existing EMIs and credit-card bills on time.
- Keep your debt-to-income (DTI) ratio below 40–50% to demonstrate comfortable repayment capacity.
- Ensure a stable employment record – frequent job changes can raise flags during assessment.
- Avoid multiple loan applications within a short span; each hard inquiry can temporarily lower your score.
What Our Customers Say About Us
❝
It's a great appreciation for obtaining the best personal loan with the fewest papers necessary and promptly disbursing loan ...funds. I truly appreciate your assistance. Simple procedure and a user-friendly interface. There are no problems, inquiries or anything else as long as you pay.
Savi Gupta
★★★★★
❝
Herofincorp has great funds for various purposes. I got the best personal loan offer compared to interest rates, terms, and fees for ...my best financial situation. Thanks for your assistance.
Rashi Kohli
★★★★★
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It is a simple procedure. For financial emergencies, it is the best option. Thanks for their assistance. Adaptable and well-balanced. You can acquire an immediate loan transfer with Hero FinCorp.
Lalji Soni
★★★★
❝
Processing is quick, and had great experiences with this personal loan application and service. I appreciate customer support's gentle communication in helping the process go more smoothly. interest rates provided on the personal loan is the lowest in market. Overall experience good. I'm grateful.
Raj Chaudhary
★★★★★
❝
I have been looking for a platform that allows me to borrow money quickly, it is convenient, safe and reliable to borrow money on this practical and reliable platform.
Kadam Kailash
★★★★★
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Frequently Asked Questions
At 18% per annum, the EMI for a Rs 2 Lakh loan over 36 months is approximately Rs 7,230 per month. To calculate your personalised EMI online, use the Personal Loan EMI Calculator on the Hero FinCorp website - enter your rate and tenure for an exact figure.
Hero FinCorp’s online application process is designed for speed. Once you submit your application with the required KYC and income details, approval can be granted in as few as 10 minutes. Disbursal follows shortly after approval, so you can receive the funds on the same day in most cases.
Yes. Hero FinCorp Personal Loans are entirely unsecured. You do not need to pledge any asset or provide a guarantor to apply for or receive a Rs 2 Lakh Personal Loan.
A minimum monthly income of Rs 15,000 is generally required. This threshold applies to both salaried and self-employed applicants.
Yes. While salary slips are one form of income proof, lending institutions also accept bank statements (last 3–6 months), Form 16, or Income Tax Returns as alternatives to verify your income.
Income verification is a standard part of the loan assessment process. While a physical salary slip may not always be mandatory, you would still need to provide some form of income documentation, such as ITR, bank statements, or Form 16. Applying without any income proof is unlikely to result in approval.
Hero FinCorp’s process is largely paperless. You do not need to submit physical documents. However, you will need to provide digital consent and share your PAN and Aadhaar details for e-KYC. Income verification is carried out digitally in most cases.
A credit score is a key factor in the assessment. If you do not have a CIBIL score (for instance, if you are a first-time borrower), your application may still be considered based on other factors such as income stability, employment tenure, and debt-to-income ratio. Approval is subject to the lending institution’s internal assessment.
It is possible but may be challenging. A lower credit score typically results in a higher interest rate or stricter terms. Strengthening your score before applying – by paying off existing dues and reducing credit utilisation – can improve both your chances and the rate offered.
At 18% per annum, the approximate EMI for a 24-month tenure is Rs 10,082. A shorter tenure means a higher monthly outflow but significantly lower total interest paid.
Hero FinCorp Personal Loans currently offer a maximum repayment tenure of 36 months. For a 36-month tenure at 18% per annum, the indicative EMI is approximately Rs 7,331. If you require a longer repayment window, consider exploring other loan products or speak with a Hero FinCorp representative.
The Hero FinCorp Personal Loan app, available on the Google Play Store, enables you to apply for a Personal Loan of up to Rs 2 Lakh with a fully digital process. Approval and disbursal are handled within the app based on your eligibility.
Your EMI depends on the interest rate and tenure you select. At 18% per annum, EMIs range from approximately Rs 18,431 (12 months) to Rs 7,331 (36 months). The Personal Loan EMI Calculator on the Hero FinCorp website can help you determine the exact figure for your preferred combination.
To secure the best rate from an NBFC for a Rs 2 Lakh Personal Loan: maintain a credit score of 725 or above; keep your debt-to-income ratio below 40–50%; hold a stable employment record; and avoid multiple loan applications in a short window, as each hard inquiry can temporarily lower your score.