Personal Loan in Ludhiana

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Loan up to ₹5 Lakh
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Minimum Salary Required ₹15K
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Instant Approval
Personal Loan EMI Calculator

Monthly EMI

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Interest Payable

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Get Personal Loan in Ludhiana With Quick Approval

Ludhiana is a large city in Punjab, famous for its shawls and stoles. It has a great business environment where small-scale industries thrive and achieve financial stability. Ludhiana is also growing as an IT hub with many software companies getting established in and around the city. Since living in such a city can be expensive, a Personal Loan in Ludhiana acts as a cushion during emergencies, by providing relief from financial bottlenecks. 

Hero FinCorp, a Personal Loan provider in Ludhiana is leading the way by offering loans of up to Rs 5 Lakh to eligible applicants at a competitive rate of interest. Anyone, whether a salaried or self-employed individual, can apply for a Personal Loan online with Hero FinCorp can get approval in 10 minutes. You just need to meet the eligibility criteria, including a minimum income of Rs 15,000 per month.
 

We Offer a Wide Range of Personal Loans!

At Hero FinCorp, we offer a wide range of Personal Loans for salaried employees, self-employed individuals and other professionals. You can choose a loan that meets your specific needs and financial goals.

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Personal Loan for Doctors

Professionals in the medical industry can fulfill their goals with a personal loan for doctors.

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Personal Loan for Travel

Realise your dream of travelling to exotic locations with financial support through a Personal Loan for Travel.
 

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Personal Loan for Wedding

You can use a Personal Loan for Wedding to handle your last-minute marriage-related expenses with ease.
 

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Personal Loan for Home Renovation

Renovate your home, conduct urgent repairs, or improve its interiors or exteriors with a personal loan for home renovation.
 

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Personal Loan for Self-Employed

Hero FinCorp offers specialized personal loans for self-employed suitable to their loan requirements and fluctuating repayment capacities.
 

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Personal Loan for Women

Working female professionals seeking funds for individual or family expenses can apply for a  personal loan for women with Hero FinCorp.

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Personal Loan for Government Employees

If you are working with any government department, you can borrow a Personal Loan for Government Employees at favourable terms.
 

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Personal Loan for Education

Upgrade your qualifications with a Personal Loan for Education from Hero FinCorp and repay in EMIs.
 

Features And Benefits of Hero Fincorp Personal Loan in Ludhiana

Hero FinCorp, a personal loan provider in Ludhiana, showers you with multiple features and advantages, like,

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Substantial Loan Amount

You can get a Personal Loan from Rs 50,000 to Rs 5,00,000 in Ludhiana for various planned or unplanned expenses.

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Affordable rate of interest

Our Personal Loan interest rates start from 1.58% per month or 19% per annum, making the loan repayment manageable.

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Zero collateral approval

Our Personal loans in Ludhiana are unsecured, so there is no requirement for collateral or security for approval. 

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Flexible Tenure

You can choose a repayment tenures from 12 to 36 months as your monthly budget and financial planning.

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Instant Approval

You can get approval for a Personal Loan in 10 minutes when you apply on the Hero FinCorp website or loan app.

Eligibility Criteria for Instant Personal Loan in Ludhiana

Before applying for a Personal Loan, make sure you meet the eligibility criteria. These include your age, monthly income, work experience, and citizenship. The Personal Loan eligibility criteria at Hero FinCorp are simple and easy to fulfil.

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Citizenship

You should be a citizen of India.

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Work Experience

A minimum of one year of work experience is required for eligibility.

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Monthly Income

Applicant should at least earn a minimum amount of Rs.15,000 monthly

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Age

Applicant should be between 21-58 years

List of Documents Required to Apply for a Personal Loan in Ludhiana

Documentation requirements to apply for a personal loan in Ludhiana differ for salaried and self-employed applicants. You can submit the necessary documents through the Hero FinCorp Personal Loan app to simplify the verification process and get instant approval. Here is the list of essential documents required for a Personal Loan at Hero FinCorp.

Documents Required For Salaried Employee

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Proof Of Photo Identity

Driver’s Licence, Passport, PAN Card, Aadhaar card

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Mandatory Documents

Filled Loan Application Form, Passport Size Coloured Photograph

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Proof of Income

Six Month Salary Slip & Bank Account Statement, Form 16

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Job Continuity Proof

Appointment Letter From the Current Employer

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Proof of Residence

Driver Licence, Passport, Aadhaar Card, Utility Bill

Documents Required For Self Employed

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Proof Of Photo Identity

Driver’s Licence, Passport, PAN Card, Aadhaar card

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Mandatory Documents

Filled Loan Application Form, Passport Size Coloured Photograph

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Proof of Income

Last Six Months Bank Statement, ITR for the Last Two Consecutive Years

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Proof of Residence

Maintenance Bill, Utility Bill, Property Documents, Rent Agreement

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Proof of Business Existence

Copy of Tax Registration, Shop Establishment Proof, Company’s Registration Certificate

Interest Rates on Personal Loans in Ludhiana

Here’s a look at the Personal Loan interest rate in Ludhiana and some additional charges you should be prepared to pay during the loan tenure. Our fee structure is 100% transparent without any hidden charges.

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 Ludhiana?

Here is the stepwise process to apply for a Personal Loan in Ludhiana with Hero FinCorp online:

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  • 01

    Visit the Hero FinCorp website or install the personal loan app

  • 02

    Go to the instant 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 

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    Click ‘Submit’ to complete your application

Frequently Asked Questions (FAQs)

The prescribed age limit at Hero FinCorp is 21 years to 58 years.
A minimum work experience of 6 months is needed for a working professional to apply for a personal loan in Ludhiana.
While seeking an instant Personal Loan in Ludhiana, you can borrow up to Rs 5 Lakh at Hero FinCorp without end-use restrictions.
There is no fixed Personal Loan interest rate in Ludhiana. It depends on your income, DTI ratio, repayment capacity, credit history, and other vital factors. At Hero FinCorp, the starting rate is 19%.
You can borrow a Hero FinCorp instant cash loan in Ludhiana whenever you need funds for an emergency or a planned expense. Whether you need additional funds for higher education, home renovation, wedding expenses, medical treatment, debt consolidation, foreign vacation, or a big-ticket purchase, you can apply on the Hero FinCorp website or loan app.
The equated monthly instalment or the EMI of your Personal Loan can differ depending on your loan value, the rate of interest and also the repayment period. You can use our Personal Loan EMI Calculator to calculate your monthly EMI in a few clicks online.
The minimum salary you require for applying for a Personal Loan with Hero FinCorp in Ludhiana is Rs 15,000 only.
No. If you are not having a salary slip, you can give your Form 16, ITRs or bank statements.
You can apply on the Hero FinCorp website or app and get your loan approved within 10 minutes, as per your eligibility.
Yes, income proof is required for a Personal Loan application. It assists lenders in knowing your repayment ability.
You can avail a Personal Loan in Ludhiana even with poor credit or a low CIBIL score, but you might not be able to get a higher loan amount or a lower rate of interest.
The Hero FinCorp app can give you an instant Personal Loan in Ludhiana with flexibility in repayment periods and affordable interest rates.
No, there is a need to submit documentation for a loan application. A few NBFCs, like Hero FinCorp, do not require you to submit physical copies of your documents when you apply online.
Yes. You can apply online on the Hero FinCorp website or app and get approved for the loan within 10 minutes, depending on your eligibility.