Need quick funds with simple documentation? Hero FinCorp, an RBI-registered NBFC, provides Personal Loans for salaried individuals with immediate access to funds for various financial purposes. We offer a transparent, digitized lending process.
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Everyone faces unexpected expenses from time to time. For salaried individuals with a fixed monthly income, handling financial emergencies can be tough, especially when most earnings go toward essentials like household bills, education, and insurance. That’s where Hero FinCorp Personal Loans can help.
We provide instant Personal Loans for salaried individuals employed in private and government sectors to meet their personal and professional expenses. With competitive interest rates, flexible repayment tenures, and instant approval within 10 minutes, you can get the required funds when needed. What’s more, there’s no collateral required, and applicants with a minimum monthly income of Rs 15,000 can apply for a loan up to Rs 5 Lakh with ease.
A Personal Loan can be a real support for salaried individuals, helping them manage expenses with ease. Since salaried individuals often face unexpected financial needs, opting for a loan with a lower interest rate can make repayments more affordable. Here are a few reasons why a Personal Loan designed for salaried individuals can be the right choice.
Personal Loan for low salaried individuals offers many benefits. These include the following
Our Personal Loans are approved within minutes when you apply online.
You can avail an instant unsecured loan of up to Rs 5 Lakh online.
You only need to provide your KYC (PAN and Aadhaar) details.
No security, collateral, or guarantor is needed for approval.
You do not need to meet stringent criteria to obtain an Instant Personal Loan online for salaried professionals. Here are the personal loan eligibility criteria for salaried applicants.
| Eligibility Criteria | Details |
|---|---|
| Age | 21 - 58 years |
| Citizenship | Indian citizen |
| Work Experience | Minimum 1 year for salaried employees |
| Monthly Income | Minimum Rs 15,000 |
| Credit Score | A score of 700 or above is generally preferred for instant approval. |
Documentation is essential for part of the Personal Loan application process. However, we keep the process simple with a paperless process. For the instant verification with smooth process you need to handy below documents for basic details:
It is better to know the loan interest rates for salaried employees, processing fees and any other fees or charges related to instant loan before applying. Our personal loan interest rates are competitive and all other charges are nominal. We adhere to the RBI's Fair Practices Code for transparent fee disclosure. Check out the table below for exact charges for salaried individuals.
| 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 |
You can apply for a Salaried Loan online based on salary via our website for quick approval and instant disbursal.
Visit the website.
In the Instant Personal Loan section page, click 'Apply Now'.
Enter your mobile number and register yourself with the OTP received.
Enter the 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.
Salaried individuals take a loan for various planned and unplanned purposes. Let’s look at some of the most common reasons you can use a Personal Loan:
Using the salaried loan app, you can avail and manage a loan from your smartmobile. Downloading the app is easy and secure, and the loan application process is simple for users. Don’t know how to download the app? Here is a stepwise procedure:
After you have downloaded the app, it serves as your one-stop Personal Loan solution.
When applying for a loan using the salaried loan app, there is no need to submit bunches of paperwork or visit any branch. Follow these steps to apply:
Your credit report reflects your repayment history and existing debts. Lenders use it to assess your creditworthiness and debt-to-income ratio. A healthy score (typically 700 or above) is crucial for better loan offers.
As a salaried person, your Personal Loan qualification is based on the following parameters:
Yes, it's possible to get quick approval for a Personal Loan for emergency. Salaried persons can apply either on the website or loan app and get the loan approval within 10 minutes.
