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Personal Loan in Visakhapatnam

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Loan up to Rs 5 Lakh
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Minimum Salary Required Rs 15K
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Instant Approval in 10 Minutes
Personal Loan EMI Calculator

Monthly EMI

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Interest Payable

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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.

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.

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Flexible Repayment Tenure

Customize your loan repayment plan to suit your needs for effective Personal Loan in Vishakhapatnam.

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Instant Approval

Experience swift and hassle-free loan approval, so you can access funds when you need them the most.

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High Loan Amount

Secure substantial funds, up to Rs 5 lakh, to address diverse financial needs, providing the necessary support for your aspirations.

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Attractive Interest Rate

Enjoy competitive interest rates, starting from 19% per annum, which make your Personal Loan affordable.

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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.

CriteriaRequirement
AgeApplicant should be between 21-58 years.
CitizenshipYou should be a citizen of India.
Work ExperienceSix months for salaried individuals and 2 years for self-employed individuals.
Monthly IncomeApplicant should at least earn a minimum amount of Rs 15,000 monthly.

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

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Proof Of Photo Identity

Driving Licence, Passport, PAN Card, Aadhaar card

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Mandatory Documents

Loan Application Form, Passport Size Photo

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Proof of Income

6 Months’ Salary Slips & Bank Statements, Form 16

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Job Continuity Proof

Appointment Letter from Current Employer

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Proof of Residence

Driving License, Passport, Aadhaar Card, Utility Bill

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Additional Documents (Self-Employed Only)

N/A

Documents Required for Self-Employed

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Proof Of Photo Identity

Driving License, Passport, PAN Card, Aadhaar Card

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Mandatory Documents

Loan Application Form, Passport Size Photo

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Proof of Income

Last 6 Months Bank Statements, ITR for Last 2 Years

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Job Continuity Proof

N/A

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Proof of Residence

Maintenance Bill, Utility Bill, Property Documents, Rent Agreement

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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 & ChargesAmount Chargeable
Interest RateStarting from 1.58% per month
Loan Processing ChargesMinimum 2.5% + GST
Prepayment ChargesN.A.
Foreclosure Charges5% + GST
EMI Bounce ChargesRs 350/-
Interest on Overdue EMIs1-2% of the loan/EMI Overdue Amount Per Month
Cheque BounceFixed Nominal Penalty
Loan Cancellation1. 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:

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  • 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

It's a great appreciation for obtaining the best personal loan with the fewest papers necessary and promptly disbursing loan ...funds. I truly appreciate your assistance. Simple procedure and a user-friendly interface. There are no problems, inquiries or anything else as long as you pay.

Savi Gupta

Herofincorp has great funds for various purposes. I got the best personal loan offer compared to interest rates, terms, and fees for ...my best financial situation. Thanks for your assistance.

Rashi Kohli

It is a simple procedure. For financial emergencies, it is the best option. Thanks for their assistance. Adaptable and well-balanced. You can acquire an immediate loan transfer with Hero FinCorp.

Lalji Soni

Processing is quick, and had great experiences with this personal loan application and service. I appreciate customer support's gentle communication in helping the process go more smoothly. interest rates provided on the personal loan is the lowest in market. Overall experience good. I'm grateful.

Raj Chaudhary

I have been looking for a platform that allows me to borrow money quickly, it is convenient, safe and reliable to borrow money on this practical and reliable platform.

Kadam Kailash

Frequently Asked Questions

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.