Calculate Personal Loan EMI
Looking for immediate financial assistance with an Rs 18,000 salary? Unlock the convenience of a swift Personal Loan with Hero FinCorp. Whether managing unforeseen expenses, consolidating debt, or fulfilling life's significant milestones, a loan of up to Rs 5 lakh offers the solution. Benefit from competitive starting interest rates, flexible repayment spans, and a seamless 100% digital loan process. Before you begin your financial journey - calculate your personalised EMI using our simple personal loan EMI calculator. Once done, apply online with Hero FinCorp and get instant approval.
When seeking a Rs 1 lakh instant loan, checking the monthly EMI is important. Use our online loan EMI calculator to plan your repayments with manageable EMIs. At a 19%* per annum interest rate, here are the expected EMI amounts for different loan periods. Stay financially informed with this useful tool.
| Loan Amount | Tenure (in Months) | Interest Rate (per annum) | Monthly EMI | Total Interest | Total Amount Payable |
|---|---|---|---|---|---|
| Rs 1,00,000 | 12 | 19% | 9,216 | 10,588 | 1,10,588 |
| Rs 1,00,000 | 18 | 19% | 6,428 | 15,170 | 1,15,710 |
| Rs 1,00,000 | 24 | 19% | 5,041 | 20,981 | 1,20,981 |
| Rs 1,00,000 | 30 | 19% | 4,213 | 26,398 | 1,26,398 |
| Rs 1,00,000 | 36 | 19% | 3,666 | 31,962 | 1,31,962 |
Disclaimer: These EMI amounts are approximate and may vary based on the lender's terms and conditions. For a Rs 1 Lakh loan, the EMIs depend on the tenure and interest rate. Shorter tenures mean higher EMIs with less total interest, while longer tenures mean lower EMIs but higher total interest.
At Hero FinCorp, we offer a Rs 5 Lakh loan with benefits for a 3-year term or less. Here's what you need to know:
Get instant loans up to Rs 5 lakh, tailored to cover various needs based on income, credit rating, and work experience.
Benefit from a competitive interest rate based on your credibility, making EMIs affordable.
Ensure a hassle-free loan process without needing collateral, security, or a guarantor, ensuring your assets are safe.
Enjoy flexibility with repayment periods of up to 36 months, allowing you to decide based on your monthly budget, supported by our Loan EMI Calculator.
Experience a swift online process with no paperwork, ensuring quick verification and approval, leading to instant disbursal upon acceptance of the loan offer.
Before applying for a Personal Loan, make sure you meet the eligibility criteria, which include your age, monthly income, work experience, and citizenship. The personal loan eligibility criteria at Hero FinCorp are simple and easy to fulfil.
| Criteria | Requirement |
|---|---|
| Age | You should be between 21-58 years. |
| Citizenship | You should be a citizen of India. |
| Work Experience | Six months for salaried applicants and 2 years for self-employed applicants. |
| Monthly Income | You should have a minimum income of Rs 15,000 monthly. |
It is advisable to check the required personal loan documents before applying to ensure a smooth and hassle-free application process. Here’s a list of the essential documents for salaried applicants.
Driving licence, passport, PAN card, or Aadhaar card
Driving licence, passport, Aadhaar card, ration card, or utility bill
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.
It’s better to know the loan costs, like the interest rate and processing charges, before applying for an instant Personal Loan. At Hero FinCorp, personal loan interest rates are competitive, and other charges are nominal. Check out the details.
| 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 |
Note: Rates and charges are subject to change. Verify the latest details during the loan application process.
Wondering how to secure a instant personal loan online with Hero FinCorp? It's easy! Follow these straightforward steps:
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
A personal loan can be used for various financial needs. Here are some common uses:
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*Approval & Agreement: Loan approval is at Hero FinCorp's discretion. By applying, you agree to our Terms & Conditions, Privacy Policy, and Loan Agreement.
*Data Use: You consent to electronic processes and data use for loan assessment, as per our Privacy Policy.
*Security: Keep your account and device secure. Report our customer care for unauthorized activity immediately.
*Grievances: For concerns, refer to our Grievance Redressal Policy.
*EMI Payment: Refer to our T&Cs here*
*RBI Mandate: RBI requires transparent disclosures. Learn more from RBI.