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Personal Loans for Proprietorship Company Employees
Hero FinCorp offers Personal Loans for salaried individuals working at proprietorship companies with flexible repayment options. Get up to ₹5 Lakh for various needs, from emergencies to lifestyle upgrades.
Loan up to ₹5 Lakhs
Minimum Salary Required ₹15K
Instant Approval in 10 Minutes
Personal Loan EMI Calculator
Get a Personal Loan for Proprietorship Company Employees
Working in a proprietorship company often provides a stable employment history and consistent income, making them ideal candidates for Personal Loan benefits. Hero FinCorp offers Personal Loans for proprietorship company employees, designed to meet your specific financial needs. Whether you work in administration, sales, or operations, you can now access fast Personal Loans for proprietorship firm employees with easy documentation, quick approval, and transparent terms.
Why Choose a Loan for Proprietorship Company Employees?
Proprietorship company staff are often considered reliable borrowers due to their consistent income and stable employment. We offer Personal Loans for employees of proprietorship firms with special benefits and utmost convenience. Key advantages include:
- Fast loan approval and quick disbursal
- Flexible repayment terms that you can choose according to your salary cycle
- Minimal paperwork and quick verification
- Transparent processing with no hidden fees
- Exclusive Personal Loan offers and staff discounts
Features and Benefits
If you are employed under a proprietorship company, we bring you a host of Personal Loan offers for proprietorship company staff. These features and benefits make a Personal Loan for proprietorship company staff effortless and rewarding:
Competitive Interest Rates
Avail competitive Personal Loan interest rates at 19% p.a. for proprietorship company staff.
Collateral-Free Loans
Enjoy unsecured Personal Loans up to Rs 5 Lakh without pledging assets as collateral.
Flexible Tenure Options
Choose repayment terms of 12 to 36 months based on your salary and financial goals.
Transparent Terms
No need to worry about hidden costs or surprise deductions.
Prepayment or Partial Payment
Pay early subject to the terms and conditions outlined in your loan agreement, which may include minimal charges, as per NBFC norms.
Eligibility Criteria
To apply for a Personal Loan for proprietorship firm employees, you need to meet some basic eligibility conditions. These ensure responsible borrowing and help you secure the best loan terms:
| Eligibility Criteria | Details |
|---|---|
| Age Limit | Between 21 and 58 years |
| Citizenship | Indian citizenship |
| Work Experience | Minimum six months |
| Monthly Income | At least Rs 15,000 per month |
| Contract Type | Permanent or contract employment |
| Credit Score | More than 700 |
Documents Needed
Applying for a personal loan is completely digital — there’s no need to upload any physical documents. Still, it’s best to keep your Aadhaar Card and PAN Card nearby, as you’ll need to enter details from them while completing the online form. This helps ensure a quick and hassle-free application experience from start to finish.
- Aadhaar Card
- PAN Card
Interest Rates and Charges
Hero FinCorp offers competitive Personal Loan interest rates for proprietorship company staff, typically ranging from 19% to 30% per annum. It finally depends on your credit score, loan amount, and tenure. Here is a quick overview:
| Fees & Charges | Amount Chargeable |
|---|---|
| Interest Rate | Starting from 19% per annum |
| Loan Processing Charges | Minimum 2.5% + GST |
| Prepayment Charges | N.A. |
| Foreclosure Charges | 5% + GST (Applicable after a minimum lock-in period, as per RBI Guidelines ) |
| 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 paid is non-refundable. Processing charges are also non-refundable. |
How to Apply for a Personal Loan for Proprietorship Company Staff Online
Applying for a Personal Loan online is simple and takes just a few minutes. Hero FinCorp offers a seamless digital loan experience:
- 01
Visit the website or use the loan app.
- 02
Go to the ‘Personal Loan’ section and click ‘Apply Now’.
- 03
Provide your mobile number and authenticate it using the OTP received.
- 04
Select the loan amount and repayment tenure that best fit your requirements.
- 05
Complete the online KYC verification to validate your profile.
- 06
Submit your application and receive instant approval with quick loan disbursal.
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Frequently Asked Questions
Yes, proprietorship company staff can get collateral-free Personal Loans based on salary and credit profile.
Eligible employees can borrow up to Rs 5 Lakh, depending on income, credit score, and repayment capacity.
On meeting the eligibility criteria, salaried employees of reputable proprietorship firms can obtain a loan at attractive interest rates starting at 19% per annum.
Once approved, you may receive the loan amount within a few hours directly to your bank account.
Yes, contract or temporary employees are also eligible, provided they fulfil the salary and work experience-related eligibility criteria.
Salary delays that result in missed EMIs may lead to penalties, higher interest rates, a drop in credit score, and legal notices. You must talk to the lender to avoid penalties.