Need quick funds with minimal paperwork? Hero FinCorp’s Loan for Defence Personnel gives you instant access to money that you can use for any financial need.
Personal Loan EMI Calculator
Defence personnel are the pride of our nation, serving in every condition to keep civilians safe. They shouldn’t have to put their dreams on hold due to financial constraints. To support them, Hero FinCorp offers an instant personal loan specifically designed for defence personnel, including those from the Army, Navy, and Air Force. With competitive interest rates, flexible repayment options, and a simple online process, personnel can avail funds quickly. Meeting the eligibility criteria set ensures easy access to loans without collateral, helping our armed forces focus on their duties while Hero FinCorp takes care of their financial needs.
Personal Loans come as a helping hand for those serving in the armed forces, making it easier to take care of personal and professional needs without worry. Here are a few more reasons to consider a personal loan designed for defence personnel.
Before applying for a personal loan with Hero FinCorp, make sure you meet the eligibility criteria set by the lender. These include your age, monthly income, work experience, and Indian citizenship. The personal loan eligibility criteria are simple and easy to fulfil, making it easy for salaried professionals and self-employed individuals to avail of the loan.
| Eligibility Criteria | Details |
|---|---|
| Age | Applicants should be between 21 and 58 years. |
| Citizenship | You should be a citizen of India. |
| Work Experience | Six months for salaried individuals and 2 years for self-employed individuals. |
| Monthly Income | You should have a minimum income of Rs 15,000 monthly. |
The loan process is 100% digital, and you only need to keep the following documents handy only for instant verification.
Before applying for a Personal Loan, it’s important to understand the related costs. At Hero FinCorp, the Personal Loan rate of interest and processing fee are nominal. Here are the details of personal loan schemes for the defence personnel.
| 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 | 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 in India, you may not always have the time to go to the lender's branch and fill out the lengthy paperwork. For this reason, we have simplified the process to make borrowing easier for you.
Visit the Hero FinCorp website or download the personal loan app.
On the Instant Personal Loan page, click 'Apply Now'.
Enter your mobile number and register yourself with the OTP received.
Enter your loan amount.
Complete your KYC verification and verify your income eligibility.
Press 'Submit to finalise your online application and get instant approval for your loan.
