Flexible Repayment
Based on your monthly budget, you can choose a repayment tenure of 12 to 36 months.
Personal Loan in Nagpur
Loan up to Rs 5 Lakh
Minimum Salary Required Rs 15K
Instant Approval in 10 Minutes
Personal Loan EMI Calculator
Get Personal Loan in Nagpur With Quick Approval
Nagpur is among the fastest-growing cities in the state of Maharashtra. It is famous for its strong industrial base and developing infrastructure. With increasing cost of living and individual financial requirements, Personal Loans are becoming a go-to solution for the local population to get instant cash. At Hero FinCorp, you can avail a Personal Loan in Nagpur at competitive interest rates and convenient repayment tenures. Whether you're salaried or self-employed, if you earn Rs 15,000 per month, you can apply online and receive up to Rs 5 Lakh for different needs.
Features and Benefits of a Personal Loan in Nagpur
Personal loan acts as a fuel in the commercial scenario that sustains business in times of unexpected financial demand. Here are related features and benefits of acquiring Personal Loan in Nagpur:
Minimum Documentation
Personal Loans have minimal documentation requirements. You only need your KYC details and income proof.
Customised Loan Amount
Based on your requirements and eligibility, you can get a Personal Loan from Rs 50,000 to 5 Lakh.
Instant Availability
You can get approval for a Personal Loan within 10 minutes when you apply online with Hero FinCorp.
Attractive Interest Rate
Our Personal Loan interest rates in Nagpur start from 1.58% per month or 19% per annum.
Collateral-Free
Personal loan is an unsecured loan that requires no submission of security or collateral against the loan. This reduces the time taken for loan approval.
Eligibility Criteria for Instant Personal Loan in Nagpur
To apply for a personal loan in Nagpur, make sure you meet the eligibility requirements. At Hero FinCorp, the personal loan eligibility criteria are simple and easy to fulfil.
| Criteria | Requirement |
|---|---|
| Age | An Indian resident in the age category of 21 years to 58 years. |
| Citizenship | To be eligible for an instant Personal Loan in Bardhaman, candidates must be Indian citizens. |
| Work Experience | If you are a salaried individual, then a minimum of 6 months of work experience is compulsory. If you are into a business, then a minimum of 2 years of experience is compulsory. |
| Monthly Income | Any individual who applies for a personal loan in Bardhaman must be earning a minimum monthly income of Rs 15,000 to qualify. |
List of Documents Required to Apply for a Personal Loan in Nagpur
The documentation requirements at Hero FinCorp vary for salaried and self-employed applicants. It's advisable to gather the required personal loan documents in advance to ensure a smooth and hassle-free application process.
Documents Required For Salaried Employee
Proof Of Photo Identity
Driver’s 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
Driver’s Licence, Passport, PAN Card, Aadhaar card
Mandatory Documents
Filled Loan Application Form, Passport Size Coloured Photograph
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 Nagpur
Apart from the personal loan interest rate in Nagpur, you must know a few additional fees and charges before applying. It will help you stay prepared and save you from unpleasant surprises later.
| 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 Nagpur?
As most of the work is done through online platforms, individuals prefer applying for personal loans online.
- 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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Frequently Asked Questions (FAQs)
The eligibility criteria for personal loan in Nagpur:
The borrower should be at least 21 years of age and maximum 58 years of age till loan maturity.
Borrower should be an Indian.
Borrower should have a regular income through permanent job / business.
1. Address Proof - Ration card/ Aadhar card/Passport.
2. Identity proof-Aadhar card/Voter’s Id/Driving License)
3. Income proof- 6 months bank statement or ITR returns are the mandatory documents for personal loan approval online.
At Hero FinCorp, the interest rate in Nagpur starts from 1.58% or 19% per annum.
You can get approval for a personal loan in Nagpur in 10 minutes when you apply online with Hero FinCorp.
Borrowers with a minimum income of Rs. 15,000 or more, in an age group between 21-58 years are eligible for personal loan in Nagpur.