Personal Loan for Self-Employed
Get funds to grow your business with a Personal Loan for Self-employed individuals offering flexible terms and great rates.
Personal Loan in Visakhapatnam
Loan up to Rs 5 Lakh
Minimum Salary Required Rs 15K
Instant Approval in 10 Minutes
Personal Loan EMI Calculator
Get Personal Loan in Visakhapatnam With Quick Approval
Visakhapatnam in Andhra Pradesh is a lovely city famous for its clean beaches, different industries and fast-growing information & technology sector. With rising costs of living, people usually need extra cash for different needs like higher education, healthcare and even holidays. We, at Hero FinCorp, provide personal loans in visakhapatnam of up to Rs 5 Lakh. Our loans come with attractive interest rates and flexible repayment tenures. So, whether you are salaried or self-employed, if you have an income of Rs 15,000 per month, you can apply online and get approval in just 10 minutes.
We Offer a Wide Range of Personal Loans
Hero FinCorp extends a trustworthy hand in securing personal loans in visakhapatnam, meticulously crafted to cater to your financial needs and aspirations in the city.
Personal Loan for Women
EFemale professionals can get a Personal Loan for women at competitive interest rates and favourable terms.
Personal Loan for Government Employees
Enjoy instant approvals and flexible terms through a Personal Loan for Government Employees designed for your steady income profile.
Personal Loan for Education
Cover tuition fees and other related costs with a Personal Loan for Education and repay in EMIs.
Personal Loans for Doctors
Support your medical practice or studies with a Personal Loan for Doctors that gets approved in 10 minutes online.
Personal Loan for Travel
Plan a hassle-free trip with a Personal Loan for Travel that takes care of flights, hotels, and other related expenses.
Personal Loan for Wedding
Manage last-minute expenses with a Personal Loan for Wedding, which covers everything, from decorations to attire and venue.
Personal Loan for Home Renovation
Upgrade your living space with a Personal Loan for Home Renovation that can offer up to Rs 5 Lakh online.
Features and Benefits of Personal Loan in Visakhapatnam
Discover the advantages of Hero Fincorp's Personal Loans in Visakhapatnam, designed to meet your financial needs conveniently and efficiently.
Flexible Repayment Tenure
Customize your loan repayment plan to suit your needs for effective Personal Loan in Vishakhapatnam.
Instant Approval
Experience swift and hassle-free loan approval, so you can access funds when you need them the most.
High Loan Amount
Secure substantial funds, up to Rs 5 lakh, to address diverse financial needs, providing the necessary support for your aspirations.
Attractive Interest Rate
Enjoy competitive interest rates, starting from 19% per annum, which make your Personal Loan affordable.
Collateral Free
Access financing without the burden of collateral, making the application process simpler and more accessible.
Eligibility Criteria for Instant Personal Loans in Visakhapatnam
Ensure you meet the eligibility criteria before applying for a Personal Loan in Vishakhapatnam. At Hero FinCorp, the Personal Loan eligibility criteria are simple and easy to fulfil.
Citizenship
You should be a citizen of India.
Work Experience
Six months for salaried individuals and 2 years for self-employed individuals.
Monthly Income
Applicant should at least earn a minimum amount of Rs 15,000 monthly
Age
Applicant should be between 21-58 years
List of Documents Required to Apply for a Personal Loan in Visakhapatnam
Documentation is an essential part of the loan application. Being prepared with the necessary Personal Loan documents can help ensure a smooth and hassle-free application process. Here’s a list of the commonly required documents.
Documents Required for Salaried Employee
Proof Of Photo Identity
Driving Licence, 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 Rate and Charges for Personal Loan in Visakhapatnam
Hero FinCorp provides highly competitive interest rates for personal loans in Visakhapatnam, guaranteeing favourable terms and affordable repayment choices.
| 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 in Visakhapatnam?
Availing a personal loan in Vishakhapatnam through Hero FinCorp is a straightforward process. Here are the steps to guide you:
- 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
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If you want a Personal Loan quickly, online is the quickest way to consider. In Visakhapatnam, there are lenders like Hero FinCorp that accept online applications.
No, proof of income is needed when you apply for a Personal Loan in Visakhapatnam, as it allows lenders to determine your ability to repay the loan.
Typically, the processing time of a Personal Loan is fast. When you apply online with Hero FinCorp, you may get the approval in 10 minutes.
You can apply online through the Hero FinCorp app or website by completing the application form and submitting it with KYC and income details.
Yes, if you meet the lender's eligibility requirements with a good credit score and low debt-to-income ratio, you can get the lowest rates.
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.