Unsecured Loan
Get funds without collateral by meeting basic income and credit requirements.
Personal Loan for Corporate Employees
Loan up to ₹5 Lakhs
Minimum Salary Required ₹15K
Instant Approval
Calculate Your Personal Loan EMI
Get Personal Loan For Corporate Employees Up to 5 Lakh
As a corporate employee with a fixed salary, you are often on a tight budget. You must plan for everything, whether it be your household expenses or a trip to a new location. However, if a financial emergency arises in the meantime, dealing with it can be difficult. Hero FinCorp's personal loan for private employees can help you in handling such situations.
Features and Benefits of Personal Loan for Corporate Employees
Hero FinCorp's personal loan for private employees comes with a number of benefits. A few of them are explained here.
Flexible Usage
Use the loan for higher education, home renovation, travel, or emergencies.
Higher Loan Amount
Get up to Rs 5,00,000 to manage financial needs and emergencies.
Competitive Interest Rate
Our loan interest rates start from 1.58% per month.
Eligibility Criteria for Personal Loan for Corporate Employees
Why look for other lenders when Hero FinCorp can provide you with quick access to funds by meeting the bare minimum of eligibility requirements.
Citizenship
You should be a citizen of India.
Age Requirement
You must be between 21 to 58 years to be eligible for the loan.
Work Experience
You should have at least six months experience in your current job.
Monthly Income
The minimum monthly income required is Rs 15,000.
Documents Required for a Personal Loan for a Corporate Employees
Documentation requirements are minimal for a Personal Loan at Hero FinCorp. Here are the separate documentation requirements for a personal loan for corporate employees:
Proof of Photo Identity
Driver’s Licence, Passport, PAN Card, Aadhaar card
Mandatory Documents
Filled Loan Application Form, Passport Size Coloured Photograph
Proof of Income
Six Month Salary Slip & Bank Account Statement, Form 16
Job Continuity Proof
Appointment Letter From the Current Employer
Proof of Residence
Driver Licence, Passport, Aadhaar Card, Utility Bill
Proof of Business Existence
Not Applicable
Interest Rates and Charges on Personal Loan For Corporate Employees
Understanding the interest rates and charges on a Personal Loan for corporate employees is crucial before applying. These factors influence your repayment amount and total loan cost. Hero FinCorp offers competitive rates, ensuring affordable EMIs based on your income and credit profile.
How to Apply for a Personal Loan for Corporate Employees
As a corporate employee, you can apply for a personal loan online through our website or in person at our outlet or branch. The details of both these processes are listed below.
Online Process
- 01
Visit the Hero FinCorp website.
- 02
Go to the Personal Loan page and click ‘Apply Now’
- 03
Enter your mobile number and verify with the OTP received
- 04
Choose the loan amount you need
- 05
Verify your KYC details to check income eligibility
- 06
Click ‘Submit’ to complete your application
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Frequently Asked Questions (FAQs)
Yes, for a loan with Hero FinCorp, you can choose the repayment period as per your convenience. You will also get many flexible repayment options, ranging from 12 to 36 months. Use the personal loan for corporate employees' EMI calculator to determine what your optimal EMI should be and then finalise your repayment tenure for the loan.
Obtaining a personal loan without a credit record is difficult because the lender has no way of determining your credit behaviour. However, if you can arrange a collateral or include a co-applicant on your personal loan application, your chances of approval increase. Another solution is to first apply for a short-term consumer durable loan. Repaying such a loan on time will build a good credit score for you, which can be leveraged when applying for personal loans.
There are several factors that play a part in determining your personal loan interest rate. These include the following:
Your credit score
Your credit report remarks
Your work experience and employment status
Your salary
The credit report is prepared by the credit rating agency and includes information on your previous defaults (if any), loan settlements, number of hard enquiries, any EMI skips, and so on. Any negative remark on this report makes it difficult for you to secure a personal loan.
You may add a co-applicant to your personal loan application to get loan approval with an average credit score. The co-applicant must be financially stable, and you can introduce your spouse, parents, or friends as a co-applicant. However, remember that the co-applicant’s repayment obligation is similar to yours. Furthermore, even if you provide a co-applicant, it is still up to your lender's discretion whether to approve or deny your loan application.