Instant Loan Amount
You can get loans from Rs 50,000 to 5 Lakh at competitive rates of interest.
Emergency Loan
Loan up to Rs 5 Lakh
Minimum Salary Required ₹15K
Instant Approval in 10 minutes
Emergency Loan EMI Calculator
Get an Emergency Personal Loan
Are you in need of emergency funds? Whether you need to pay for medical needs, your home needs urgent repairs, or any other emergency, you can apply for an emergency Personal Loan up to Rs 5 Lakh at Hero FinCorp. It can be applied online with minimal documentation. It comes with competitive interest rates, instant approval and flexible repayment terms from 12 to 36 months.
EMI for Emergency Personal Loan for Tenures of 3 Years
Feeling concerned about the EMI amount is obvious when you apply for a Personal Loan for any emergency. At Hero FinCorp, you can rest assured that the EMI amount will be reasonable according to your eligibility and repayment capacity. However, the final EMI amount depends on your loan amount, interest rate, and repayment tenure. For instance, if you borrow an urgent money loan of Rs 3 Lakh at 19% p.a interest rate, your EMIs for various loan terms would be as follows:
| Loan Amount | Tenure (in Months) | Interest Rate (per annum) | Monthly EMI | Total Interest | Total Amount Payable |
|---|---|---|---|---|---|
| Rs 5,00,000 | 12 | 19% | Rs 46,078 | Rs 52,936 | Rs 5,52,936 |
| Rs 5,00,000 | 18 | 19% | Rs 32,142 | Rs 78,556 | Rs 5,78,556 |
| Rs 5,00,000 | 24 | 19% | Rs 25,204 | Rs 1,04,896 | Rs 6,04,896 |
| Rs 5,00,000 | 30 | 19% | Rs 21,066 | Rs 1,31,980 | Rs 6,31,980 |
| Rs 5,00,000 | 36 | 19% | Rs 18,328 | Rs 1,59,808 | Rs 6,59,808 |
Features and Benefits of an Emergency Loan
Do you need an emergency loan from Hero FinCorp? Know the features and benefits before applying:
Attractive Interest Rate
The Personal Loan interest rates at Hero FinCorp start from 1.58% per month.
Collateral-Free
You don't need to provide any security or collateral to obtain the Personal Loan for emergency.
Flexible Repayment Tenure
You can choose a loan repayment tenure of up to 36 months.
Instant Approval
You can get instant approval when you apply on the Hero FinCorp website or loan app.
Eligibility Criteria For Emergency Personal Loan
Want to know if you are eligible for an emergency loan approval in minutes at Hero FinCorp? Ensure you fulfil these eligibility conditions to qualify:
Age
You must be 21 to 58 years old at the time of application.
Work Experience
If you're salaried, you should have at least 1 year of experience with at least 6 months in the current company. Self-employed should have a work experience of at least 2 years.
Self-employed
You should have a work experience of at least 2 years.
Monthly Income
You should have a minimum monthly income of Rs 15,000 to qualify for a Personal Loan at Hero FinCorp.
Documents Required for an Emergency Personal Loan
At Hero FinCorp, you don't need to worry about the hefty documentation procedures and multiple branch visits. You can provide the required documents online through our website or loan app. However, the documentation requirements vary for salaried and self-employed applicants. You must be aware of them before applying for an instant emergency loan online:
Documents Required for Salaried
Mandatory Documents
Duly filled application form, Passport-size photograph
Identity Proof
Driving License, Passport, PAN Card, Aadhaar Card (Any One)
Address Proof
Driving License, Passport, Aadhaar Card, Ration Card, Utility Bill (Any One)
Ownership Proof
Residence Ownership Proof (Electricity Bill, Maintenance Bill, Property Document)
Income Proof
Last 6 Months Salary Slips, Bank Statements, and Form 16
Documents Required for Self-Employed
Mandatory Documents
Duly filled application form, Passport-size photograph
Identity Proof
Driving License, Passport, PAN Card, Aadhaar Card (Any One)
Address Proof
Driving License, Passport, Aadhaar Card, Ration Card, Utility Bill (Any One), Office Address Proof (if applicable)
Ownership Proof
Business Existence Proof (Tax Registration, Shop Establishment Proof, Company Registration Certificate)
Income Proof
Last 6 Months' Bank Statements and ITR for 2 Years
Interest Rate & Charges for Emergency Loan
When you borrow an urgent money loan, knowing the additional charges is important. Instant access to funds should not cost you dearly. Hero FinCorp has a transparent fee structure that involves the following costs without any hidden charges:
| Loan Details | Charges/Details |
|---|---|
| Interest Rate | Starting from 1.58% per month |
| Loan Processing Charges | Minimum Processing fee is 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. Loan app does not charge cancellation charges 2. Interest amount paid is non-refundable 3. Processing charges are non-refundable |
How to Apply for a Personal Loan for Emergency Online?
Are you planning to apply for an instant emergency loan online with Hero FinCorp? Here is a stepwise guide:
- 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
Frequently Asked Questions (FAQs)
Emergency loan is one of our Personal Loans that gets sanctioned within 10 minutes when you apply online. It has a competitive rate of interest and flexible repayment term.
You can borrow a Personal Loan for emergencies ranging from Rs 50,000 to 5 Lakh online at Hero FinCorp.
You have an option to select a loan term of 12 to 36 months to repay your medical emergency loan.
You can use an urgent loan for medical emergency for different expenses like doctor's consultation charges, hospitalisation, medicines, healthcare checks and other health-related costs.
You can make use of the Personal Loan EMI Calculator online in order to determine the instalment amount of your loan. You need just your loan amount, interest rate and repayment tenure.
All Indian citizens between 21 and 58 years of age, with a minimum income of Rs 15,000 per month can apply for an urgent Personal Loan. You may see detailed eligibility criteria on our website.
Either you can use the formula for calculating EMI [EMI = [P x R x (1+R)^N] / [((1+R)^N)-1)] or consider using the EMI calculator on the website of Hero FinCorp. You need your loan amount, rate of interest and repayment term.
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