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Gain easy access to substantial loan amounts of up to Rs 5 Lakh.
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Get a Personal Loan in Ratlam with Quick Approval
Ratlam is a famous city in Madhya Pradesh, which boosts a blend of historical allure and industrial vigour. The city is known for its key role as a central railway hub and a key player in the textile, chemical, and metal manufacturing industries.
Ratlam is also a great place for tourists to explore and enjoy. One can explore the cultural essence at Kedareshwar Temple and Banjali Mata Mandir or relish the natural beauty of the renowned Cactus Garden. For food lovers, don’t forget to indulge your taste buds with the famous Ratlami Sev.
One can have a thriving lifestyle in Ratlam, and if anyone is looking for instant funds in the city, borrow a Personal Loan in Ratlam from Hero FinCorp. Whether exploring the city's attractions, addressing urgent financial needs, or investing in personal ventures, Personal Loans offer a reliable financial solution for the diverse requirements of Ratlam's vibrant community.
Features And Benefits of Hero FinCorp Personal Loan in Ratlam
Applicants seeking Personal Loan finance in Ratlam from Hero FinCorp get several benefits.
Attractive Interest Rate
Easily manage monthly payments with our competitive rates starting from 19%.
Collateral-Free
Those seeking an immediate cash loan in Ratlam are not required to provide collateral.
Flexible Repayment Tenure
Tailored to suit your budget, our instant loans come with flexible repayment tenures.
Instant Approval
Experience quick approval for immediate access to funds.
Eligibility Criteria for Instant Personal Loans in Ratlam
Hero FinCorp’s Personal Loan in Ratlam has specific eligibility criteria. Applicants must fulfil these requirements to get the loan quickly.
| Criteria | Details |
|---|---|
| Age | Prospective Personal Loan applicants in Ratlam should fall within the age bracket of 21 to 58 years. |
| Citizenship | Our loans are available to Indian citizens, enhancing accessibility for loan seekers in Ratlam. |
| Work Experience | Salaried individuals - a minimum of 6 months in the current job; self-employed individuals - a minimum of two years in their current business. |
| Monthly Income | To qualify for a loan, applicants must demonstrate a stable source of income with a minimum monthly income of Rs 15,000. |
Documents Required to Apply for a Personal Loan in Ratlam
Securing an instant cash loan in Ratlam is easy with Hero FinCorp as we require only a few documents for fast approvals.
Documents Required for Salaried Employee
Proof Of Photo Identity
Driving License, Passport, PAN Card, Aadhaar Card
Mandatory Documents
Loan Application Form, Passport Size Photo
Proof of Income
6 Months’ Salary Slips & Bank Statements, Form 16
Job Continuity Proof
Appointment Letter from Current Employer
Proof of Residence
Driving License, Passport, Aadhaar Card, Utility Bill
Additional Documents (Self-Employed Only)
N/A
Documents Required for Self-Employed
Proof Of Photo Identity
Driving License, Passport, PAN Card, Aadhaar Card
Mandatory Documents
Loan Application Form, Passport Size Photo
Proof of Income
Last 6 Months’ Bank Statements, ITR for Last 2 Years
Job Continuity Proof
N/A
Proof of Residence
Maintenance Bill, Utility Bill, Property Documents, Rent Agreement
Additional Documents (Self-Employed Only)
Copy of Tax Registration, Shop Establishment Proof, Company's Registration Certificate
Interest Rates on Personal Loans in Ratlam
Check out our attractive personal loan interest rates in ratlam, starting from 19% annually. Say goodbye to extra charges beyond your borrowed loan amount. Our transparent fee structure makes it easy to understand the complete loan charges.
| 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 |
How To Apply For a Personal Loan in Ratlam?
Securing an instant personal loan in ratlam from Hero FinCorp is simple. Follow these steps for a seamless application process:
- 1
Visit the Hero FinCorp website or install the personal loan app
- 2
Go to the personal loan page and click ‘apply now’
- 3
Enter your mobile number and verify with the OTP received
- 4
Choose the loan amount you need
- 5
Verify your KYC details to check income eligibility
- 6
Click ‘Submit’ to complete your application
What Our Clients Say About Us
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Frequently Asked Questions (FAQs)
A credit score of 650 can help you get a Personal Loan from some lenders; however, to secure the best loan interest rates, it is better to opt for a loan with a higher credit score.
Only some lending institutions can provide a Personal Loan of up to Rs 5 Lakh. However, getting such an amount will depend on your monthly income, credit score, and other factors.
The EMI for a 5 Lakh loan will depend on your repayment tenure and interest rate. You can use our Personal Loan EMI Calculator to get instant EMI estimates.