Digital Loan Application
You can apply for a Personal Loan for self-employed online through our app or website.
Personal Loan for Self Employed
Loan up to Rs. 5 Lakhs
Minimum Salary Required Rs.15K
Instant Approval in 10 Minutes
Personal Loan For Self Employed EMI Calculator
Get Personal Loan for Self-Employed Up to 5 Lakh
The Personal Loan for self-employed is an ideal funding option to expand business, repay debts, or cover working capital needs. Whether you are a start-up or a well-established firm, you can qualify for a self-employed Personal Loan at Hero FinCorp if you have a minimum experience of two years.
You can borrow an instant Personal Loan for self-employed from Rs 50,000 to Rs 5 Lakh to cover your personal or business expenses. The best thing is that these loans are collateral-free, which you can borrow without any security or guarantor. Repay the loan in a flexible term of 12 to 36 months without straining your monthly budget.
Features and Benefits of Personal Loan for Self-employed
If you are a businessperson looking for a Personal Loan, you can apply online through Hero FinCorp’s instant loan app or website.
Quick Verification
Our real-time KYC verification process ensures fast approval and disbursal.
Small Cash Loans
Hero FinCorp loan app offers loans for self-employed from Rs 50,000 to 5 Lakh with minimal documentation.
No Collateral
Hero FinCorp is one of the best loan apps for self-employed, offering collateral-free loans.
Attractive Interest Rates
You get loans at competitive rates starting from 1.58% per month when you apply online.
Instant Disbursal
Once approved, the loans are directly credited to your bank account in no time.
Automated Repayment
Our auto-debit facility ensures timely EMI payments, simplifying your loan repayment process.
Eligibility Criteria for Personal Loan for Self-employed
When it comes to Personal Loan, Hero FinCorp is considered one of the best loan apps for self-employed Individuals. Here are the eligibility requirements.
Age
You must be between 21 to 58 years of age.
Citizenship
You must be an Indian citizen to apply for a Personal Loan at Hero FinCorp.
Work Experience
The minimum work experience for salaried employees is 6 months, and 2 years for self-employed.
Minimum Income
The minimum income requirement is Rs 15,000 per month.
Documents Required for Personal Loan for Self-employed
You should have the required documents ready before applying for the Personal Loan to ensure a smooth and quick application process. Here are the documents required for a personal loan for self-employed individuals.
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 and Charges for Personal Loan for Self-employed
When considering a Personal Loan for self-employed individuals, it's crucial to understand the personal loan interest rate and charges involved. Here's a concise overview of what you need to know:
| 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 for Self Employed?
Starting a new venture or upgrading an existing business requires financial support. Personal Loans for the self-employed are easy to procure and can be quickly applied 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 self-employed can get loans from Rs 50,000 to 5 Lakh based on their income, business stability, and eligibility according to the lender's norms.
Self-employed applicants require a monthly income of Rs 15,000, valid KYC, and net banking verification to apply for a Rs 50K loan.
Hero FinCorp Personal Loan app provides instant approval, easy repayment options, and competitive interest rates—making it a trustworthy loan app for self-employed individuals.
Yes, stable income and document-holding self-employed individuals can easily obtain a Personal Loan from leading lenders such as Hero FinCorp.
Yes, self-employed individuals with age, income, and documentation eligibility can access Personal Loans for personal or professional needs.
Download the Hero FinCorp app, undergo KYC, and submit proof of income. Get approved in 10 minutes with the assurance of quick disbursal.
Hero FinCorp provides self-employed borrowers loan amounts ranging from 50,000 to 5 Lakh depending on their income, documentation and other qualifying factors.
Apply through a paperless document process at the Hero FinCorp instant loan app. Upon successful verification, the loan is sanctioned and the amount is credited into your bank account.
You can apply online and get instant approval through the Hero FinCorp app. You must meet the age (21–58 years), income (at least Rs 15,000+ per month), and document requirements to apply for a loan.
Self-employed individuals between the age group of 21–58 years with a monthly income of Rs 15,000 or above and valid KYC can apply for an online Personal Loan.
You require an Aadhaar card number, PAN card, proof of income (such as ITRs), business documents, and last 6 months' bank statements to obtain a Personal Loan.
You can expect instant approval on websites and apps like Hero FinCorp in 10 minutes. After approval, the loan amount is credited to your account quickly.
A self-employed person needs a minimum monthly income of Rs 15,000 to be eligible for a Personal Loan, besides fulfilling age and document requirements.
No, you need to provide income proof to obtain a loan since lenders assess your ability to repay the loan based on your income.
Apply on the Hero FinCorp loan app using valid KYC and income documents. Get instant approval, usually within 10 minutes, backed by fast disbursal.
Yes, income proof such as bank statements or ITR is required to evaluate your repayment ability before sanctioning an instant loan.
Yes, it is possible but challenging. A low CIBIL score can decrease your chances of approval. Also, you may not be eligible for a higher loan amount or lower interest rate.
Hero FinCorp loan app provides instant Personal Loans to self-employed with flexible repayment terms, minimal documentation, and approval within 10 minutes.How much Personal Loan can a self-employed individual get?
No, you are required to submit key documents such as KYC and income proof as lenders sanction loans for self-employed individuals based on these documents.
Yes, with loan apps like Hero FinCorp, self-employed individuals can get instant loan approval in 10 minutes for emergencies.