Personal Loan EMI Calculator
Knowing your personal loan fees and charges is important when applying for a personal loan. They usually depend on the loan amount, tenure and even lender's policies. at hero fincorp, we believe in complete transparency and help you to understand all possible charges at the very beginning. Processing fees primarily cover the lender's administration costs for reviewing your application and funding your loan. Knowing these fees in advance allows you to plan better, avoiding any surprises along your loan journey.
| Fees & Charges | Amount Chargeable |
|---|---|
| Interest Rate | Starting from 1.58% per month |
| Loan Processing Fees (Non-Refundable) | Minimum 2.5% + GST Will be deducted from the loan amount at the time of disbursal. |
| Stamp Duty Charges | As per the respective State’s Stamp Act |
| EMI Bounce Charges | Rs 350 per instance (Inclusive of applicable taxes) |
| Foreclosure Charges | 5% + GST |
| Prepayment Charges | Not Applicable |
| Interest on Overdue EMIs | 1-2% of the loan/EMI Overdue Amount Per Month |
| Cheque Bounce | Fixed Nominal Penalty |
| Loan Cancellation Charges | 1. Our online loan app does not charge any cancellation charges |
| 2. Interest amount paid is non-refundable | |
| 3. Processing charges are also non-refundable |
Note: Charges and rates are subject to change; please check the Hero FinCorp website.
The processing fee on an instant personal loan is a common fee charged as a percentage of the total loan amount. This is meant to compensate the lender for the costs incurred in loan approval and disbursement. The fee depends on the loan amount and the lender's terms and conditions regarding the processing fee, repayment term and any other fees and costs.
Knowing all the personal loan fees and charges will let you make financially informed decisions and avoid unexpected charges. These are the costs involved:
Knowing personal loan fees, costs and charges is important so you can avoid added costs and save your financial resources. A few reasons to know about them are:
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