Question 1

What are the eligibility criteria for availing a personal loan from Hero FinCorp?

Accepted Answer

The eligibility criteria are pretty simple. You have to be 21-58 years of age, and have a valid Aadhaar and PAN card. For salaried persons, the minimum income required is Rs 15,000 and they should have been in current employment for at least 6 months. Self-employed individuals and professionals must have been operating in their current business for at least two years.

Question 2

What are the personal loan tenure options?

Accepted Answer

Personal Loan tenures are flexible, with options available for up to 36 months, allowing you to choose a repayment period that suits your financial needs.

Question 3

What are the KYC documents needed for a personal loan?

Accepted Answer

Valid PAN card and income proof are the KYC documents required.

Question 4

Do personal loans offer tax exemptions?

Accepted Answer

There is no tax exemption on personal loans in India.

Question 5

What is the reason for rejection of a personal loan?

Accepted Answer

Some common reasons for personal loan rejection are a low credit score, incomplete details in the application form, job instability or too many existing loans. To avoid personal loan rejection, it is always advisable to discuss your case with the lender before applying for a loan.

Question 6

What are the minimum and maximum personal loan amounts?

Accepted Answer

Hero FinCorp offers Personal Loans ranging from Rs 50,000 to Rs 5 Lakh, with the approved loan amount depending on your eligibility.

Question 7

How long will it take to get a personal loan?

Accepted Answer

Personal loans are disbursed within a few minutes as soon as you submit all the required documents.

Question 8

How do I  apply for a loan with HHF?

Accepted Answer

Personal loans are short-term unsecured loans that are disbursed quickly, to meet all your immediate /exigencies Requirement.

Question 9

How can I close a personal loan?

Accepted Answer

For closing/foreclosing your personal loan, contact us with all your documents like ID/address proof, EMI payment document etc. We will verify all your documents and issue a No Objection Certificate, stating that there is no outstanding balance that is pending. For any assistance, please contact our customer care team.

Question 10

How can I check the personal loan status?

Accepted Answer

Our evaluation process is very fast and we share status through SMS and Email. You can always contact our customer care team to check the status of your personal loan by quoting your Application No. or Mobile No. mentioned in the application.

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Frequently Asked Questions (FAQs)

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Frequently Asked Questions (FAQs)