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Defence personnel are our country's strength and pride. The sacrifices they make, their services in harsh conditions, and their role in ensuring civilian safety are irreplaceable. It is but natural that they and their families should never be required to sacrifice their dreams because of a lack of money.
In appreciation of their commitment, there are many financial institutions that provide customised financial solutions. Among these is the online Personal Loan for Defence personnel from Hero FinCorp—a trustworthy and well-liked option in the market.
We facilitate simple access to money for Army, Navy, and Air Force personnel. With online approval in a matter of 10 minutes, attractive interest rates, flexible tenures of repayment, and a Rs 15,000 minimum monthly salary, Hero FinCorp makes sure that your financial needs are fulfilled quickly and easily.
A personal loan for Defence personnel comes with many perks. They are quick to access, easy to repay, need no collateral, and can be used in multiple ways. There are multiple reasons to choose Hero FinCorp for a personal loan. Some of the best benefits are listed below.
Get quick disbursal after the loan approval online.
Get instant loan amount of up to Rs 5 Lakh online.
Get Personal Loan without pledging any collateral or security.
Quickly apply online through the Hero FinCorp website or loan app.
Before applying for a Personal Loan with Hero FinCorp, make sure you meet the Personal Loan eligibility criteria. These include your age, monthly income, work experience, and Indian citizenship. The Personal Loan eligibility criteria are simple and easy to fulfil.
You should be a citizen of India.
You must be between 21 to 58 years to be eligible for the loan.
You should have at least six months experience in your current job.
Your salary slip must reflect a monthly income of at least Rs 15,000.
At Hero FinCorp, the documentation requirements for a personal loan are minimal. Below are the specific requirements for Defence personnel applying for a loan.
Driver’s Licence, Passport, PAN Card, Aadhaar card
Filled Loan Application Form, Passport Size Coloured Photograph
Six Month Salary Slip & Bank Account Statement, Form 16
Appointment Letter From the Current Employer
Driver Licence, Passport, Aadhaar Card, Utility Bill
Not Applicable
Before applying for a Personal Loan, it’s important to understand the related costs. At Hero FinCorp, Personal Loan interest rates 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 |
As defence personnel, you may not always have the time to go to the lender's branch and fill out the lengthy paperwork. As such, we streamlined our online and offline processes to make borrowing easier for you.
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
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