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.
Personal Loan in Ludhiana
Loan up to ₹5 Lakh
Minimum Salary Required ₹15K
Instant Approval
Personal Loan EMI Calculator
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.
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,
Affordable rate of interest
Our Personal Loan interest rates start from 1.58% per month or 19% per annum, making the loan repayment manageable.
Zero collateral approval
Our Personal loans in Ludhiana are unsecured, so there is no requirement for collateral or security for approval.
Flexible Tenure
You can choose a repayment tenures from 12 to 36 months as your monthly budget and financial planning.
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 instant loan online, 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.
| Criteria | Requirement |
|---|---|
| Age | Applicant should be between 21-58 years |
| Citizenship | You should be a citizen of India. |
| Work Experience | A minimum of one year of work experience is required for eligibility. |
| Monthly Income | Applicant should at least earn a minimum amount of Rs.15,000 monthly |
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
Proof Of Photo Identity
Driver’s Licence, Passport, PAN Card, Aadhaar card
Mandatory Documents
Filled Loan Application Form, Passport Size Coloured Photograph
Proof of Income
Six Month Salary Slip & Bank Account Statement, Form 16
Job Continuity Proof
Appointment Letter From the Current Employer
Proof of Residence
Driver Licence, Passport, Aadhaar Card, Utility Bill
Documents Required For Self Employed
Proof Of Photo Identity
Driver’s Licence, Passport, PAN Card, Aadhaar card
Mandatory Documents
Filled Loan Application Form, Passport Size Coloured Photograph
Proof of Income
Last Six Months Bank Statement, ITR for the Last Two Consecutive Years
Proof of Residence
Maintenance Bill, Utility Bill, Property Documents, Rent Agreement
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 & 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 Ludhiana?
Here is the stepwise process to apply for a Personal Loan in Ludhiana with Hero FinCorp online:
- 01
Visit the Hero FinCorp website or install the personal loan app
- 02
Go to the 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
- 06
Click ‘Submit’ to complete your application
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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.