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Everyone needs funds for major expenses from time to time. When a financial emergency strikes, dealing with it can be difficult, especially if you are a salaried employee with a fixed monthly income. The primary reason is that you have already set aside a portion of your earnings for necessities such as household expenses, children's education fees, insurance premiums, etc. Hence, there is not much leeway to pay a considerable sum upfront. This is where Hero FinCorp can offer you a much-needed relief. Hero FinCorp offers personal loans to salaried employees working in both private and public sectors.
Hero FinCorp's personal loan for low salaried employees offers many benefits. These include the following
Personal loans can help you solve your various monetary requirements. Whether you want to renovate your house, plan for a vacation, or pay for your medical bills, this loan can assist in all situations. Given the significance of this loan product, Hero FinCorp lends salaried individuals up to Rs 5 Lakh as a personal loan.
When a financial emergency strikes and you find yourself in dire need of funds, you would detest searching for countless documents to get funding assistance. At Hero FinCorp, we know that our customers want minimum hassles when availing funds for their critical needs. To apply for our personal loan for salaried employees, all you need are your KYC documents and proof of income, and you would get instant loan approval.
Isn’t it great to have quick access to funds without pledging your assets as collateral? Hero FinCorp offers you a collateral-free loan if your monthly salary is sufficient to cover the EMI amount.
Gone are the days when you had to wait for weeks to find out if you were eligible for a loan. At Hero FinCorp, we make use of advanced Artificial Intelligence (AI) and Machine Learning (ML) technology to evaluate the risk associated with your profile. Since the process is exceptionally fast, you will find out about your approval status in a matter of minutes.
Salaried employees do not need to meet stringent qualifications to obtain loan approval from Hero FinCorp. Here is what you will require at the time of application
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As a salaried employee, you can apply for Hero FinCorp’s personal loan for low salaried employees in two ways: online via our website and offline by visiting our branch or outlet.
Hero FinCorp lets you choose a personal loan repayment period ranging from 6 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:
Hero Fincorp Limited follows, high data and system security standard
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