Calculate Your Personal Loan EMI
At Hero FinCorp, we offer Personal Loans of up to Rs 5 Lakh to those with a monthly salary of Rs 23,000 and above at competitive interest rates and flexible repayment tenures. Our Instant Personal Loans are designed for quick and hassle-free loan processing online, ensuring you get the loan approval in 10 minutes. You can use our Personal Loans for various purposes and repay in EMIs. The documentation requirement is minimal and you do not need to provide any security or collateral.
When you are ready to apply for a Personal Loan, it is important that you know your monthly instalment amount. This will help you plan your monthly budget. You can use the Personal Loan EMI Calculator on our website to calculate your monthly EMIs instantly. It is a free-to-use online tool that requires the loan amount, interest rate, and repayment tenure to calculate the EMIs. The table below shows the EMIs of Rs 1 Lakh loan for different tenures, assuming an interest rate of 19% per annum.
| Loan Amount (Rs) | Tenure (in Months) | Interest Rate* (per annum) | Monthly EMI (Rs) | Total Interest (Rs) | Total Amount Payable (Rs) |
|---|---|---|---|---|---|
| 1,00,000 | 12 | 19% | 9,216 | 10,588 | 1,10,588 |
| 1,00,000 | 18 | 19% | 6,428 | 15,710 | 1,15,710 |
| 1,00,000 | 24 | 19% | 5,041 | 20,981 | 1,20,981 |
| 1,00,000 | 30 | 19% | 4,213 | 26,398 | 1,26,398 |
| 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.
Are you in need of a loan but concerned about your income stability and repayment capacity? Hero FinCorp can assist you based on your financial situation. If you earn a monthly salary of Rs 23,000 and require a lump sum amount for any financial needs, we've got you covered. Our loans offer numerous benefits you can take advantage of.
Get a personal loan up to Rs5 lakh with a Rs 23,000 salary, available online. Loan amount depends on income, credit score, and employment history.
Hero FinCorp offers personal loans with competitive interest rates up to 30% on a Rs 23,000 salary, tailored to your creditworthiness and financial profile.
Hero FinCorp offers instant personal loans on a Rs 23,000 salary, collateral-free, with no security deposits or guarantors required.
Hero FinCorp tailors your loan experience with flexible repayment tenures for up to 36 months for your 24k income Personal Loan.
Our online loan process provides quick cash access with no paperwork or branch visits. Everything is handled online for fast approval.
To apply for a Personal Loan, make sure you meet the eligibility requirements, including your age, monthly income, work experience, and citizenship. At Hero FinCorp, the personal loan eligibility criteria are simple and easy to fulfil.
You should be a citizen of India.
Six months for salaried individuals and 2 years for self-employed individuals.
You should have a minimum income of Rs 15,000 monthly.
Applicants should be between 21 and 58 years.
At Hero FinCorp, documentation is an important part of the loan application process. So, it is important to check the required Personal Loan documents in advance to ensure a smooth and hassle-free application process. Here is the list of documents required for a personal loan with a 23k salary:
Three months’ salary slips, six months' bank statement, Form 16
Aadhaar Card, PAN Card, Driving Licence.
Aadhaar Card or utility bills
Latest passport-size photograph, filled online application form
Before you apply for an instant Personal Loan with a Rs 23,000 salary, it’s important to know the related costs, like the interest rate and processing fees. At Hero FinCorp, the interest rates on personal loans are competitive, and other charges are nominal. Here are 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 |
To apply for a Personal Loan on Rs 23,000 salary, follow these 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
Our team will then evaluate your application to determine the loan limit. Once this is completed, you will get a loan offer. On accepting the loan offer, the approved amount will be credited to your bank account.
Use our online Personal Loan EMI Calculator to calculate the EMI of 23k Salary. Enter your loan amount, interest rate, and repayment tenure, and get results for EMI in seconds.