Calculate Personal Loan EMI
If your salary is Rs 40,000 a month, Hero FinCorp provides simple and effective Personal Loans without hassle. Our Personal Loans are suitable for making urgent payments for medical emergencies, home repairs, travelling, or other expenses, in accordance with your needs. It is easy to get approved with simple eligibility, minimum documentation, and flexible loan payments. At Hero FinCorp, you can take a Personal Loan on Rs 40,000 salary with easy terms and conditions without having to provide any collateral or documents.
Find out your EMI on a Personal Loan for 40k salary for tenures between 12-36 months:
| Loan Amount (Rs) | Tenure (Months) | Interest Rate (p.a.) | 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 | 26,378 | 1,26,398 |
| 1,00,000 | 36 | 19% | 3,666 | 31,962 | 1,31,962 |
Here are the key features and benefits of a Personal Loan on Rs 40,000 salary.
You don't have to put anything as collateral. A Personal Loan for Rs 40,000 salary is completely unsecured, which makes it a safe and easy way to borrow money.
You can just go online and apply with your basic KYC details, salary slips and bank statements.
You can pay back with any tenure you want, from 12 months to 36 months.
The loan will be issued at an attractive personal loan Interest rates based on your income, credit profile and type of employment.
Review the personal loan eligibility criteria to check if you qualify with a monthly Rs 40,000 salary.
| Eligibility Criteria | Details |
|---|---|
| Age | Ensure your age is between 21 and 58 at the time of your application. |
| Citizenship | Your Personal Loan for Rs 40,000 salary will require Indian citizenship with a valid ID and address proof. |
| Work Experience | You should have at least six months of cumulative work experience. |
| Monthly Income | At Hero FinCorp, you must have stable monthly income of at least Rs 15,000. |
Here is a list of the important documents to apply for a personal loan on a monthly salary of Rs 40,000:
Completed loan application form, Passport size colour photo
Driving Licence/ Passport PAN Card mandatory/ Aadhaar card
Driving Licence/ Passport/ Aadhaar Card/ Ration Card/ Utility Bill
Electricity Bills/ Maintenance Bills/ Property Documents
Last three months' salary slips, Last six months' bank account statement (salary account), Form 16
Appointment letter from the current employer, Experience certificate from the previous employer
Gain detailed insights into interest rates and additional charges for a personal loan on Rs 40,000 salary.
| Fees & Charges | Amount Chargeable |
|---|---|
| Interest Rate | Starting from 19% p.a. |
| 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 | Online loan application does not charge any cancellation fees |
| Interest Amount | Interest amount paid is non-refundable |
| Processing Charges | Processing charges are also non-refundable |
It's easy to apply for a personal loan for 40,000 salary through the Hero FinCorp website or the Hero FinCorp Personal Loan app.
Visit the Hero FinCorp website or download the Hero FinCorp personal loan app from the App Store.
Navigate to the personal loan section and click the ‘apply now’ tab.
Enter your mobile number and receive an OTP on your registered mobile number for verification.
Choose the Personal Loan amount and repayment tenure as per your repayment capacity and money requirement.
You will be required to submit documents for KYC & income verification against the loan amount requested by you to determine eligibility.
Click on 'Submit', it’s that simple. If you are eligible, your loan will be approved and processed fast after successfully completing the verification process.
A Personal Loan provides the flexibility to spend money as needed, helping you meet immediate and specially planned expenses.
A personal loan for medical emergencies provides access to cash for immediate emergencies, such as urgent medical treatment, surgeries, or hospital bills.
A personal loan for home renovation enables you to finance your home renovations easily without breaking the bank.
You can use the loan for education to pay tuition fees, exam fees, books, or study material for yourself or a family member.
You can pay for the wedding venue, catering, jewellery and other costs without worrying about the financial pressure.
You can use a personal loan for travel to cover the costs of flights, accommodation and other travel costs.
A personal loan acts as a buffer for an unexpected financial setback, job loss, urgent repairs, or anything you need it for!
