Loan Up to 5 Lakh
Get access to a loan amount of up to 5 lakhs, providing you with substantial financial support.
Personal Loan
Get a Personal Loan of up to Rs. 5 Lakhs to Pursue Your Dreams
Easy Digital Process
Minimum Salary Required ₹15K
Instant Approval
Calculate Personal Loan EMI
Get Instant Personal Loan Upto Rs 5 Lakh
Experience financial freedom with our instant Personal Loans, offering loan amounts up to Rs 5 Lakh and flexible repayment tenures of up to 36 months. Whether it’s for an urgent expense, a dream vacation, or wedding plans, we’ve got you covered—no collateral required.
With competitive interest rates starting at just 1.58% per month and processing fees of around 2.5%, our Personal Loans provide a convenient, affordable way to meet your financial needs. Choose from flexible repayment tenures that fit your budget, allowing you to achieve your goals without compromise - Apply today!
Max Loan Amount
Up to 5 Lakh
Max Loan Tenure
Up to 36 Month
Interest Rate
Minimum 19% and Maximum 30% per annum
Processing Fees
2.5% - 3.5%
Benefits and Features of a Personal Loan
Experience the numerous advantages and features of a Personal Loan. From fulfilling your dreams to tackling unexpected expenses, a Personal Loan provides financial flexibility and convenience. Here are the key benefits of applying for a Personal Loan online.
Quick Approval & Disbursal
Get quick loan approval and fast disbursal directly to your bank account, ensuring timely financial support when needed.
Flexible Repayment Plans
Tailor your repayment schedule to fit your budget and financial situation, making it convenient for you.
Competitive Interest Rate
Enjoy competitive interest rates, ensuring affordable borrowing and saving money in the long run.
Paperless Application Process
Apply for a Personal loan online, eliminating the need for extensive paperwork and saving you time.
Processing Fees
Our processing fees range between 2.5% and 3.5%, ensuring affordable access to funds with minimal upfront costs.
Personal Loan Eligibility Criteria
To apply for a Personal Loan online, certain eligibility criteria are required. Hero FinCorp has the easiest eligibility criteria for Personal Loan. You need to be above a certain age, have a stable income, and meet the credit score requirements.
Ensure you meet the following criteria and have the necessary documentation ready for a smooth loan application process.
Age
You must be between the ages of 21 and 58.
Citizenship
You must be a resident Indian citizen to get a loan of up to 5 Lakh from Hero FinCorp.
Work Experience
Self-employed must be working in their field for at least 2 years, & salaried employees must have a work experience of at least 6 months.
Monthly Salary
You must have a minimum monthly salary of at least Rs 15,000 to qualify.
Documents Required for a Personal Loan
At Hero FinCorp, we have minimal documentation requirements to apply for a Personal Loan. Thе еssеntial documеnts includе proof of identity, addrеss and incomе. Skip thе hasslе of visiting a branch in pеrson – you can еasily submit your documеnts through our wеbsitе or app by uploading thеm onlinе. However, since the documentation requirements vary for salaried and self-employed individuals, gather the correct documents to complete the formalities. Go through the documentation requirements carefully.
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
Ensure you meet the eligibility criteria and have the necessary documentation ready to smoothly proceed with your urgent Personal Loan application.
Why Choose Hero FinCorp for Personal Loan?
Minimum Paperwork
With Hero FinCorp's Personal Loan, enjoy a streamlined application process that requires minimal paperwork, saving you time and effort.
Repayment
Our flexible repayment options allow you to choose a tenure that suits your financial situation, ensuring comfortable EMIs and hassle-free loan repayment.
Competitive interest rate
Benefit from our competitive interest rates, designed to make your loan affordable and cost-effective in the long run.
Quick Approval
Experience a quick and transparent loan approval with us. Our efficient processes ensure a quick turnaround time and getting loan disbursals instantly.
Flexible tenure
Enjoy the freedom to choose a loan tenure that best fits your budget and repayment capacity. Our flexible tenure options ensure a stress-free borrowing experience.
Collateral-free
Personal Loans are collateral-free that ensure no hassle of providing any security and getting a loan without any additional burden.
Types of Personal Loan
Frequently Asked Questions
Personal loans are short-term unsecured loans that are disbursed within 2 days of approval, to meet all your immediate /exigencies Requirement.
You can use our online personal loan EMI Calculator for quick and accurate results. Just enter your loan amount, interest rate, and repayment tenure to get instant EMIs.
Hero FinCorp facilitates quick approval and instant disbursal for eligible borrowers for a loan of 5 lakh immediately. You just need to meet the required eligibility criteria and have the right documentation.
The minimum salary needed for a 5 lakh instant loan is Rs 15,000 monthly. However, loan eligibility also depends on factors like your credit score, documents, age, etc.
Hero FinCorp requires a minimum monthly salary of Rs 15,000 for an instant loan of 2 lakh.
Individuals meeting age, citizenship, work experience, and monthly income criteria are eligible for a loan from Hero FinCorp.
Hero FinCorp offers Personal Loans ranging from Rs 50,000 to Rs 5 Lakh, with the approved loan amount depending on your eligibility.
Personal Loan tenures are flexible, with options available for up to 36 months, allowing you to choose a repayment period that suits your financial needs.
While salary is an important factor, it is not the sole determining factor for Personal Loan approval. Other factors like credit score, employment stability, and repayment capacity are also taken into account. With Hero FinCorp, you just need to have a regular monthly income of Rs 15,000 to secure a Personal Loan
The eligibility criteria are pretty simple. You have to be 21-58 years of age, and have a valid Aadhaar and PAN card.
For salaried persons, the minimum income required is Rs 15000 and they should have been in current employment for at least 6 months.
For self-employed & professionals, the last ITR filed should be more than Rs 2, 00, 000 in value and they should have been in the current business for a period of 2 years.
Generally, loans require certain documentation for verification and registration purposes. It is important to provide the required documents to complete the loan application process.
Yes, you can reduce your EMI period by increasing the monthly instalment amount or making prepayments towards your instant Personal Loan principal.
A good credit score, typically above 750, is considered favourable for Personal Loan applications, increasing the chances of approval and securing competitive interest rates.
You can clear your loan faster by making regular, higher EMI payments, which can reduce the interest burden and help you become debt-free sooner.
Yes, you can apply for a quick Personal loan after rejection. However, it's important to identify the reasons for rejection and take steps to improve your creditworthiness before applying again.
Yes, when you apply for an instant Personal Loan online, approval is much faster and easier. We approve your loan application instantly, provided the right documents are submitted.
Personal loans are disbursed within a few minutes as soon as you submit all the required documents.
Valid PAN card and income proof are the KYC documents required.
Our evaluation process is very fast and we share status through SMS and Email. You can always contact our customer care team to check the status of your personal loan by quoting your Application No. or Mobile No. mentioned in the application.
There is no tax exemption on personal loans in India.
For closing/foreclosing your personal loan, contact us with all your documents like ID/address proof, EMI payment document etc. We will verify all your documents and issue a No Objection Certificate, stating that there is no outstanding balance that is pending. For any assistance, please contact our customer care team.
Some common reasons for personal loan rejection are a low credit score, incomplete details in the application form, job instability or too many existing loans. To avoid personal loan rejection, it is always advisable to discuss your case with the lender before applying for a loan.
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