Max Loan Amount
Get up to Rs 5 Lakh
Personal Loan
Apply for an Instant Personal Loan up to Rs 5 Lakh - Your safe, secure & 100% digital journey
Easy Digital Process
Minimum Salary Required Rs 15K
Instant Approval in 10 Minutes
Calculate Personal Loan EMI
Get an Instant Personal Loan of up to Rs 5 Lakh
Looking for quick funds to make your dreams come true? Apply for an Instant Personal Loan online today from Hero FinCorp and open up a world of opportunities - whether it is a new gadget, vacation, medical emergency, wedding expenses or home renovation. With simple paperless application and a quick disbursal process, accessing quick funds has never been easier!
Enjoy the convenience of borrowing up to Rs 5 Lakh with Hero FinCorp Personal Loan. Take advantage of attractive interest rates, flexible repayment tenures of up to 36 months, and no collateral - all this with minimal documentation. Get instant loan sanction online through Hero FinCorp website or loan app.
Max Loan Tenure
Choose up to 36 Months
Interest Rate
Starting from 1.58% per month
Processing Fees
Minimum 2.5% of the loan amount
Key Benefits and Features of a Personal Loan
Enjoy the numerous advantages of a Personal Loan - from realising dreams to taking care of unplanned expenses with ease. A Personal Loan provides the financial flexibility and convenience you require. With a completely online application, instant approval and quick loan disbursal, accessing funds has never been more convenient. Here are the main benefits of applying for a Personal Loan online.
Flexible Loan Amounts
Avail loans between Rs 50,000 to 5 Lakh for multiple purposes like medical treatment, home improvement, or a holiday of your dreams.
No Collateral Requirement
You can avail a Personal Loan without any collateral, guarantor or security.
Instant Loan Approval
Get approval for your loan in 10 minutes when you apply online on the Hero FinCorp website or loan application.
Quick Loan Disbursal
Receive loan disbursal directly in your bank account, ensuring timely money when you need it.
Flexible Repayment Tenures
Select a repayment term, from 12 to 36 months, according to your budget and financial needs.
Competitive Interest Rate
You can avail competitive interest rates from 1.58% per month, making the cost of the loan affordable.
Paperless Application Process
When you apply online, you don't have to submit any physical documents. This saves your time and effort.
Processing Fees
Our fees for processing are between 2.5% and 3.5%, offering low-cost access to money with little cost upfront.
Personal Loan EMI Calculator
Before applying for an instant loan, use our Personal Loan EMI Calculator to calculate your monthly instalment. You just need to enter your Personal Loan amount, interest rate and repayment tenure in the calculator and it will show the EMI amount instantly on the screen.
Let us understand by an example: If you take an instant Personal Loan of Rs 50,000 at an interest rate of 19% per annum for a tenure of 12 months, your EMI amount will be Rs 4,608. The total interest payable will be Rs 5,296.
Personal Loan Use Cases and Real-Life Examples
Personal Loans can be utilised for many different purposes. Below are a few examples of Personal Loans use cases.
Medical Emergencies
Rahul Kumar in Delhi required quick funds for a medical crisis. He took a personal loan of Rs 3,00,000 and paid it through EMIs of Rs 10,997 over 36 months. The interest paid was Rs 95,892. Quick disbursal of loan helped him cope with hospital bills without any delay.
Wedding Expenses
Manish Mehra of Mumbai minimised the expense burden of his wedding by taking a personal loan of Rs 2,00,000. Having a 24-month repayment term, he paid an EMI of Rs 10,082, and the total interest paid was Rs 41,968. This helped him enjoy his wedding stress-free.
Home Renovation
Sameer Sirohi in Jaipur availed a personal loan of Rs 1,00,000 to redo his house. He opted for a 12-month repayment period with an EMI of Rs 9,216. The entire interest paid was Rs 10,592, making it a convenient option to enhance his living space.
Travel Expenses
Vijay Deol from Chandigarh wanted Rs 3 Lakh for a trip to Dubai. He applied for a personal loan for travel and paid it back with EMIs of Rs 10,997 each month for a period of 36 months. He was able to cover airfare, travel tickets, and anything else that came up on his trip.
Education Expenses
Sameer Sen in Kolkata reduced the financial stress of his son’s higher education by availing a personal loan for education. He took Rs 2,00,000 for a 24-month tenure at 19% per annum. He paid an EMI of Rs 10,082. The loan helped him pay for tuition fees, books and other expenses.
Women
Pammi Ahuja, a woman entrepreneur, needed urgent funds for business expansion. She borrowed a personal loan for women of Rs 5 Lakh for a three-year tenure at 19% per annum. She paid monthly instalments of Rs 18,328. The loan helped her open a new retail store.
Salaried Employee
Kartik Kumar aimed to restore his home. He availed a personal loan for salaried employees for Rs 2.5 Lakh at a rate of 19% per annum for 2 years. He paid back the loan in 24 monthly instalments of Rs 12,602. The loan helped him to cover labour, materials and transport.
Personal Loan Eligibility Criteria
Before starting the loan application process, confirm that you meet the eligibility criteria for Personal Loan to ensure a higher chance of approval. At Hero FinCorp, the requirements are simple to meet.| Eligibility Criteria | Details |
|---|---|
| Age | You should be 21-58 years old. |
| Citizenship | To obtain a loan at Hero FinCorp, you must be an Indian citizen. |
| Work Experience | Self-employed individuals should have a work experience of at least 2 years in their line of business, whereas salaried individuals should have a work experience of minimum 6 months in their current job. |
| Monthly Income | You must have at least a monthly income of Rs 15,000. |
List of Documents Needed for a Personal Loan
To take an instant loan from Hero FinCorp instantly, you require minimal documentation. The documentation may vary for salaried and self-employed segments, so ensure you have the correct ones in hand. Following is the list of documents required to apply for a Personal Loan.
Required Documents for Salaried
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
Required Documents 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
Key Terms Related to Personal Loan
Before applying for an instant Personal Loan, you should know several terminologies that will help you manage your loan better.
personal loans Related Blogs
Frequently Asked Questions
A Personal Loan is an unsecured loan offered to salaried and self-employed individuals for different purposes. It's approved instantly and disbursed quickly with minimal paperwork and without security.
You can avail an instant Personal Loan of Rs 5 Lakh online from the Hero FinCorp website or loan app. Simply fulfill the eligibility and submit necessary documents.
A Rs 15,000 monthly income is required for a Personal Loan application. The sanction of an instant Personal Loan also depends on your credit rating, documents, and job stability.
To avail a Rs 2 Lakh instant Personal Loan, your minimum salary should be Rs 15,000, along with a secure job and proper documentation.
You can use the online Personal Loan EMI Calculator by filling in the loan amount, tenure, and the Personal Loan interest rate to obtain instant and precise EMI details.
Hero FinCorp offers 10-minute instant Personal Loan approval with quick disbursal if you are eligible and apply online.
No, you cannot get an online instant loan without income proof. If you do not have conventional income proofs such as salary slips, you can provide alternate income proofs such as bank statements or Income Tax Returns. You can also add a co-applicant to your application.
A higher score improves your overall eligibility. You should have a required CIBIL score of 750 or more for quick approval and favourable interest rates.
Yes, certain pre-approved customers can obtain an instant loan without a CIBIL score, based on income, employment profile, and history of repayment.
To take a Personal Loan, you require KYC details (PAN card, Aadhaar card) and proof of income such as salary slips or ITR, based on your type of employment.
Yes, you can reduce your Personal Loan term by paying higher EMI or prepaying to reduce the interest burden and repay the loan sooner.
Hero FinCorp provides flexible Personal Loan tenures between 12 months to 36 months. You can select a repayment term that is comfortable for your finances.
Yes, you can apply for an instant Personal Loan after improving your credit score, updating documents, or resolving the reasons for rejection.
Rejection of a loan can occur due to poor credit score, insecure job, having several loans, or insufficient documents. Ensure you meet the eligibility criteria before applying.
You can take an instant Personal Loan of Rs 50,000 to 5 Lakh at Hero FinCorp, based on your salary, credit score, and paperwork.
Yes, you can foreclose or pre-close your Personal Loan by paying the outstanding sum and seeking a No Objection Certificate from the lender.
No, there is no tax exemption on Personal Loans, whether used for a specific purpose or not.
At Hero FinCorp, you can track your instant Personal Loan status online through the website, app, customer care, or by visiting the branch. Keep your application number or registered contact details handy for verification.