Personal Loan For Corporate/Private Employees @ ₹15k Minimum Salary

Interest Rates

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.

Unsecured

Why pledge your assets for funds when we can provide you with a personal loan without any collateral? At Hero FinCorp, all that is required to obtain funds from us is a solid credit profile, a good income, and stable employment.

Flexible End Use

A personal loan for private employees can assist you in any financial situation. You can use the money to buy a car, renovate your house, pay medical bills, buy jewellery, and so on. Hero FinCorp gives you complete freedom and does not ask why you are applying for this loan.

Higher Loan Amount

Monetary crises can occur at any time. If you do not have enough money in your emergency fund, you may be unable to deal with these crises. Hero FinCorp offers a personal loan for corporate employees up to Rs 5 Lakh, ensuring that you have sufficient funds for financial emergencies.

Competitive Interest Rate

Why be concerned about high interest rates when you work for a reputable company and have a steady flow of income? At Hero FinCorp, we calculate personal loan interest rates based on your monthly income, existing debt EMIs, employer status, credit history, and a few other factors. If all these parameters are satisfactory for your profile, we will offer you the loan at the lowest possible interest rate.

Eligibility Criteria for Personal Loan for Corporate Employees

If you are a salaried employee working at a reputable company, we expect you to meet the following criteria in order to receive immediate approval for a personal loan

Citizenship

You must hold Indian nationality

Age

Your minimum age should be 21 years. Your maximum age at the time of application must not be more than 58 years.

Work Experience

You must have been in continuous employment for six months with your current company.

Minimum Salary

Your income statement must show at least Rs 15,000 as your monthly salary.

Documents

PAN Card, Identity Proof, Address Proof, Salary certificate/ salary slip or recent bank statement (last six months) and Passport size photograph

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
Click here to complete the online application.
02
Upload your income proofs and basic KYC documents.
03
If your information meets our eligibility requirements, one of our representatives will contact you for the completion of the next steps.
04
After the entire process is completed, the funds will be credited shortly to your account.

Offline Process

01
Visit our outlet or connect with one of our DSAs.
02
Explain your funding requirements.
03
Fill out the loan application.
04
Submit the necessary documents.
05
If your details are satisfactory, you will receive an immediate approval for the loan.

Frequently Asked Questions (FAQs)

Can I choose my repayment tenure on my own?

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.

Can I get a personal loan if I do not have a credit history?

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.

What factors influence the interest rate on a personal loan for corporate employees?

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

Why is a credit report the most important personal loan document when performing credit appraisal?

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.

How can I get a personal loan if my credit score is average?

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.

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