Calculate Personal Loan EMI
Need a quick financial boost for an unexpected expense or a big dream? Hero FinCorp offers hassle-free Personal Loans for those with a Rs 16,000 salary. So, if your salary is Rs 16,000 per month, you can get an instant loan of Rs 5 Lakh. Embark on your financial journey with Hero FinCorp's Instant Personal Loan. Experience instant loan processing, minimum documentation, and quick disbursal to meet your diverse financial needs.
To better plan your Personal Loan repayment, it is necessary to know the EMI amount. You can check out the personal loan emi calculator available on the Hero FinCorp website. For your convenience, here is a table on the EMI for a Personal Loan of Rs 50,000 for different tenure, assuming the interest rate is 19% per annum.
| Loan Amount (Rs) | Tenure (in Months) | Interest Rate* (per annum) | Monthly EMI (Rs) | Total Interest (Rs) | Total Amount Payable (Rs) |
|---|---|---|---|---|---|
| 50,000 | 12 | 19% | 4,608 | 5,294 | 55,294 |
| 50,000 | 18 | 19% | 3,214 | 7,855 | 57,855 |
| 50,000 | 24 | 19% | 2,520 | 10,490 | 60,490 |
| 50,000 | 30 | 19% | 2,107 | 13,199 | 63,199 |
| 50,000 | 36 | 19% | 1,833 | 15,981 | 65,981 |
Tailor your loan tenure to fit your financial comfort, ensuring manageable EMIs aligned with your monthly salary of Rs 16,000.
*Note: The EMI amounts are approximate and subject to change based on the lender's terms and conditions.
Our Rs 16k salary Personal Loan offers a range of features and benefits tailored to your needs. From high loan amounts to flexible repayment tenures, we have everything you need to fulfil your aspirations and tackle unexpected expenses. Here are some of the key features and benefits of our Personal Loan.
Our Personal Loans require no collateral or security, enabling you to get a loan quickly and easily.
Choose a flexible repayment tenure of 12 to 36 months that suits your financial situation and preferences.
Get instant approval and disbursal of the loan amount within 48 hours of approval to fulfil your aspirations.
Get a Personal Loan of Rs 50,000 to 5 Lakh to fulfil your financial needs and aspirations.
Avail our Personal Loans at an attractive interest rate and manage your finances without any stress.
Our Personal Loans are open to all those earning Rs 16,000 salary, provided the basic eligibility criteria for a personal loan as required by us are satisfied. This includes age, income, employment type, and citizenship and work. Here is the information you must know.
Applicant should at least earn a minimum amount of Rs 15,000 monthly
Applicant should be between 21-58 years
You should be a citizen of India
Salaried - a minimum work experience of 6 months; self-employed - a minimum work experience of 2 years.
Documentation is required for a Personal Loan applicant's verification. At Hero FinCorp, the need for documentation is minimal. Still, it is important to know the documents required for a personal loan. The requirements may vary slightly for salaried and self-employed applicants. Here are the details.
Residence ownership proof like electricity bills or property documents
Last six months' salary slips, previous six months' salary account statement, Form 16, and job continuity proof.
Driving licence, passport, PAN card, or Aadhaar card
Driving licence, passport, Aadhaar card, ration card, or utility bill
With Hero FinCorp, you can avail an instant loan at attractive interest rates starting from 1.58% per month. Our transparent fee structure ensures there are no hidden costs beyond those mentioned in the table below. In addition to the personal loan interest rate, here’s a quick overview of the applicable fees and charges.
| Fees & Charges | Amount Chargeable |
| Interest Rate | Starting from 1.58% per month |
| Loan Processing Charges | Minimum 2.5% + GST |
| Prepayment Charges | N.A. |
| Foreclosure Charges | 5% + GST |
| EMI Bounce Charges | Rs 350/- |
| Interest on Overdue EMIs | 1-2% of the loan/EMI Overdue Amount Per Month |
| Cheque Bounce | Fixed Nominal Penalty |
| Loan Cancellation | 1. Online loan app does not charge any cancellation charges 2. Interest amount paid is non-refundable 3. Processing charges are also non-refundable |
The process is simple and hassle-free if you want to apply for a Personal Loan with Hero FinCorp. Here are the steps you need to follow:
Visit the Hero FinCorp website or install the personal loan app
Go to the personal loan page and click ‘apply now’
Enter your mobile number and verify with the OTP received
Choose the loan amount you need
Verify your KYC details to check income eligibility
Click ‘Submit’ to complete your application
To be eligible for a Rs 5 Lakh Personal Loan from Hero FinCorp, you need a minimum monthly income of Rs 15,000, a credit score of around 700 or above, and must meet other criteria such as age (21-58 years) and Indian citizenship. Employment stability and work experience are also required. Documentation like identity, income, and address proof must be submitted.
Yes, you can get quicker approval on a Personal Loan for an emergency from Hero FinCorp when you apply on the Hero FinCorp website or loan app.