Higher Loan Amount
You can avail an instant unsecured loan of up to Rs 5 Lakh online.
Personal Loan for Salaried Employees
Loan up to ₹5 Lakhs
Minimum Salary Required ₹15K
Instant Approval in 10 Minutes
Personal Loan EMI Calculator
Get Personal Loan For Salaried Employees Up to 5 Lakh
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 steps in.
We offer instant personal loans for salaried employees working in both private and public sectors. With competitive interest rates, flexible repayment tenures, and instant approval in just 10 minutes, you can get the funds you need—when you need them. What’s more, there’s no collateral required, and applicants with a minimum monthly income of Rs 15,000 can apply for up to Rs 5 Lakh with ease.
Features and Benefits of Personal Loan For Salaried Employees
Hero FinCorp's personal loan for low salaried employees offers many benefits. These include the following
Easy Documentation
Our loans require minimal documentation, including proof of income and KYC details.
Collateral Free
No security, collateral, or guarantor is needed for approval.
Quick Approval
Our Personal Loans are approved within minutes when you apply online.
Eligibility Criteria for Personal Loan for Salaried Employees
At Hero FinCorp, you do not need to meet stringent criteria to obtain an instant Personal Loan for salaried professionals. Here are the personal loan eligibility criteria for salaried applicants.
Monthly Income
Applicant should at least earn a minimum amount of Rs 15,000 monthly
Age
Applicant should be between 21-58 years
Citizenship
You should be a citizen of India
Work Experience
A minimum of one year of work experience is required for eligibility
List of Documents Required for Personal Loan for Salaried Employees
Documentation is essential for part of the Personal Loan application process. However, Hero FinCorp keeps the process simple with minimal paperwork. It’s still important to know the documents required for a personal loan application. The list may vary slightly for salaried and self-employed applicants. Here are the details.
Loan Application
Duly filled form and passport-sized photo.
Identity Proof
Driving Licence, Passport, PAN Card (mandatory), or Aadhaar Card.
Residence Proof
Driving Licence, Passport, Aadhaar Card, Ration Card, or Utility Bill.
Residence Ownership Proof
Electricity Bills, Maintenance Bills, or Property Documents.
Income Proof
Last 3 months’ salary slips, 6 months’ bank statement, Form 16.
Job Continuity Proof
Appointment letter or Experience certificate.
Interest Rate and Charges for Personal Loan for Salaried Employees
It is better to know the interest rates, processing fees and any other fees or charges related to instant loan before applying. At Hero FinCorp, the personal loan interest rates are competitive and all other charges are nominal. Also, there are no hidden fees. Check out the table below for exact charges.
| 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 |
How to Apply for a Personal Loan for Salaried Employees?
At Hero FinCorp, you can apply for a Personal Loan based on salary in two ways: online via our website and offline by visiting our branch or outlet.
Online Process
- 01
Visit the Hero FinCorp website or install the personal loan app
- 02
Go to the personal loan page and click ‘apply now’
- 03
Enter your mobile number and verify with the OTP received
- 04
Choose the loan amount you need
- 05
Verify your KYC details to check income eligibility
- 06
Click ‘Submit’ to complete your application
Uses of Personal Loan for Salaried Employees
You can utilise a Personal Loan for any planned or unexpected expenses. Let us see some of the most popular uses of a Personal Loan for salaried employees.
Personal Loan for Salaried Employees Related Blogs
Personal Loan
Funding Your Child’s Wedding or Education Without Touching Retirement Funds28 Aug, 2025
Frequently Asked Questions (FAQs)
Hero FinCorp lets you choose a personal loan repayment period ranging from 12 to 36 months based on your affordability and needs.
Yes, you only need a monthly income of Rs 15,000 to apply for a personal loan at Hero FinCorp. However, when determining your eligibility, we may consider a variety of other factors, such as your debt-to-income ratio, employer status, credit profile, and so on.
A credit report consists of details of your existing and past debts. It helps us determine your debt-to-income ratio while also providing information about your previous debt management patterns. If there are any negative entries on the report, such as EMI skips, default, or loan settlement, you may fail to obtain a personal loan.
You may add a co-applicant to your personal loan application to get loan approval if you have an average credit score. However, the co-applicant must be financially stable. You can introduce your spouse, parents, or friends as a co-applicant. Also, remember that the co-applicant’s repayment obligation would be similar to yours. Even then, it is still up to your lender's discretion whether to approve or deny your loan application.
BAs a salaried employee, your personal loan qualification is based on the following parameters:
- Your monthly earnings
- Your debt-to-income ratio
- Your credit score Your emp
The EMI or equated monthly instalment of a Personal Loan depends on a variety of factors like the loan amount, repayment tenure and rate of interest. You can use a personal loan emi calculator online.
Salaried applicants should have a minimum monthly income of Rs 15,000 to be eligible for an instant Personal Loan at Hero FinCorp.
No, salary slips act as a proof of income for a Personal Loan application. It helps lenders assess your repayment capacity. You can provide alternate proof of income like bank statements, Form 16 or income tax returns.
To get a Personal Loan on an urgent basis, you should apply online. You can apply through the Hero FinCorp loan app or website to get approval in 10 minutes.
Yes, salary slips act as a proof of income for a Personal Loan application. It helps lenders assess your repayment capacity.
Some lenders may provide you a Personal Loan even with a low credit score, but you may be offered a smaller loan amount or a higher interest rate.
The Hero FinCorp instant loan app can provide you a Personal Loan at a competitive rate of interest with approval in 10 minutes.
No, documentation is necessary for the Personal Loan application process. However, when you apply with Hero FinCorp online, you do not have to submit physical copies of your document.
Yes, it's possible to get quick approval for a Personal Loan for emergency. Salaried employees can apply either on the Hero FinCorp website or loan app and get the loan approval within 10 minutes.
Disclaimer
*Approval & Agreement: Loan approval is at Hero FinCorp's discretion. By applying, you agree to our Terms & Conditions, Privacy Policy, and Loan Agreement.
*Data Use: You consent to electronic processes and data use for loan assessment, as per our Privacy Policy.
*Security: Keep your account and device secure. Report our customer care for unauthorized activity immediately.
*Grievances: For concerns, refer to our Grievance Redressal Policy.
*EMI Payment: Refer to our T&Cs here*
*RBI Mandate: RBI requires transparent disclosures. Learn more from RBI.