Income Criteria Even if you have a low credit score, you can still apply for an unsecured personal loan, on the condition that financial institutions can be satisfied with respect to your repaying power or the stability in your income.Proof of income is another major requirement from financial institutions which is needed to evaluate the payment capability against your monthly income. Financial institutions want to have the guarantee that you will earn enough over the loan tenure to ensure timely payment of loan monthly instalments.
This does not mean that borrowers with low credit score and low income would have to wait for a long time before they can be granted a loan to meet their financial contingency. There are various innovative options available for borrowers nowadays.
HeroFinCorp, auser-friendly fully digitized
personal loan app, powered by HeroFinCorp, is one such online app helping with instant personal loan through a smart phone. Here, borrowers can seek an
instant cash loan, up to a maximum limit of Rs 1,50,000, approved and directly credited to your bank account, within a short span of just 24 hours.
Eligibility Criteria for HeroFinCorp Unsecured Personal Loan At HeroFinCorp, whetheryou are a salaried individual or self-employed, everyone can apply for a loan, provided minimum eligibility criteria is met. No requirement for physical documentation on HeroFinCorp app, making the whole process seamless. Higher income can get you an unsecured personal loan up to a maximum limit of 1,50,000 on the app.
- Indian citizenship proof
- Applicant should be in the age group of 21-58 years
- Minimum monthly income/monthly salary of Rs.15000
- Six months’ bank statement with income details/ six months’ bank salary account statement
- If salaried, should be working with private or public sector
Below mandatory documents are required to be furnished
- KYC documents - Aadhar card, Driver’s license, PAN card, Passport
- Recent salary slips for salaried individual
How to Apply for Unsecured Loan on HeroFinCorp A few clicks make it possible for unsecured personal loans to directly get credited in your bank account via the HeroFinCorp app.
- Install the app from Google Play Store
- Register through yourmobile number and email address
- The loan EMI calculator will help you to derive a well-planned monthly instalment
- KYC verification done through a paperless mode via provision of a security code
- Verification of bank account conducted through the net banking mode ensures total safety of your credentials at all point of the application process
- Instant loan approved within minutes
- Loan directly transferred to your bank account in business hours
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