A person borrowsa certain amount of financein the form of loans to fulfil life goals or overcome an emergency. Personal loan are the most common type of loan acquired instantly nowadays with an online application via websites and loan apps. Whether it is a medical loan, a vehicle loan, an education loan, or a consumer durable loan, any of these loans can be approved with great ease through an online loan process.
A digital loan process makes loan application hassle-free across different locations, including tier-2 and tier-3 cities such as Amritsar. If you are looking for a personal loan in Amritsar, you can easily apply online without visiting a branch. Hero FinCorp is one such useful instant personal loan app helping with online loan processing with minimal paperless documentation.
Loan Application Process
Download the Hero FinCorp personal loan app freely from Google Play Store and begin with the online loan process:
Out of the listed banks, select your bank and enter account details in which you want the loan amount to get disbursed.
Whether you're applying for a personal loan on 24000 salary or a higher income, the app guides you through each step to ensure fast and accurate approval."
Offline Loan Application Pre-requisites
Besides the online loan processing method, individuals can still opt for visiting the bank personally or requesting the representative to help with loan requirements. Documents for the offline loan application process includes physical KYC documents for salaried as well as self-employed borrowers. The mandatory documentation for a loan process involves:
Eligibility Criteria for Loan Processing and Approval
The minimum age limit of a loan borrower should be between 21-58 years for a salaried and 21-65 years for a self-employed person. The borrower should earn a minimum salary for personal loans of ₹15,000 per month and have a good credit score to make loan approval faster.
Benefits and Features of the Loan Application Process:
FAQS
Q1. What is a loan approval process?
A: The loan approval process involves sanction of a loan application, based on the verification of personal documents and income proofs submitted.
Q.2. What is the process of Personal Loan Online?
A: The process of personal loan is easy thanks to the digital loan apps, handy to begin the process of personal loan:
Q.3 What are the steps in the physical loan application process?
A: The loan process involves a few easy steps:
Step1: Fill in the Loan Application Form
Step2: Enter the desired loan amount
Step3: Submit the required documents for approval
Step4: Loan amount credited in the bank account
Hero Fincorp offers a wide range of financial products including Personal Loans for personal needs, Business Loans to support business growth, Used Car Loans for purchasing pre-owned vehicles, Two-Wheeler Loans for bike financing, and Loan Against Property for leveraging real estate assets. We provide tailored solutions with quick processing, minimal paperwork, and flexible repayment options for smooth and convenient borrowing experience.