Minimal Documentation
You do not need to follow a complex process or submit multiple documents to get a personal loan. With just KYC documents and income proof, you can get the loan.
Medical Loan for Emergency
Need emergency funds for medical expenses? Hero FinCorp’s Medical Emergency Loan provides quick access to funds to help you handle unexpected health expenses without delay.
Loan up to ₹5 Lakh
Minimum Salary Required ₹15K
Instant Approval in 10 Minutes
Calculate Personal Loan EMI
Get an Emergency Personal Loan Up to Rs 5 Lakh
Emergencies don't come with notice, and if you do not have funds, it becomes difficult to manage. During this time, you need instant access to funds. Hero FinCorp, an RBI-licensed NBFC, offers emergency personal loans upto 5 lakh to help you manage urgent financial needs. With the interest rate starting at 19%, minimal documentation, and a flexible repayment schedule, you get collateral-free loans with a 10-minute approval.
Features and Benefits
A personal loan helps bridge the gap and offers the financial support you need in emergencies quickly. This way, you can manage unexpected expenses with confidence.
Here’s how a personal loan helps during emergencies:
Digital Process
There is no need to visit the lender to get a loan. All you need to do is open the personal loan page, upload the documents, and apply for the loan. This makes the process quick and convenient.
No Collateral Required
You can get a personal loan without offering collateral. This reduces your risk and also speeds up loan processing.
No Usage Restriction
You can use an emergency personal loan for any emergency, be it medical bills, education fees, house repairs, or others
Easy EMIs
You can choose the EMI you are comfortable paying when applying for the personal loan. You can spread it over a few months, making repayment easier without financial stress.
Instant Approval
When you apply through the instant loan app or website, you get instant approval for an emergency personal loan with interest rates starting from 18%.
Eligibility Criteria for Personal Loan for Medical Use
To get your personal loan approved in minutes, you need to meet the following eligibility requirements:| Eligibility Criteria | Details |
| Age | You should be between 21 and 58 years. |
| Citizenship | Must be a citizen of India. |
| Work Experience | At least 6 months for salaried employees and 2 years for self-employed. |
| Monthly Income | Minimum monthly income of Rs. 15,000 is required. |
| Credit Score | 725 or above |
Zero Documents Required
With a digital application process for an emergency personal loan, you upload all the necessary documents online. You do not need to visit Hero FinCorp physically.
Interest Rates and Charges of Personal Loan for Emergencies
Hero Fincorp offers a personal loan at an interest rate of 18% p.a with a processing fee of 2.5%. If you want to get an estimate about the monthly EMIs and plan accordingly, you can use the personal loan EMI calculator.
Here’s a detailed breakdown of interest rates and charges:
| Fees & Charges | Amount Chargeable |
| Interest Rate | Starting from 18% p.a. |
| 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 an Emergency Online?
The process to apply for a personal loan for an emergency is quick and simple. You can either apply for the loan through the website or the instant personal loan app.
When Applying Through the Website
- 01
Visit your preferred lender's website.
- 02
Locate the personal loan page, and click on Apply now.
- 03
Enter your mobile number and verify the OTP.
- 04
Select the loan amount you need.
- 05
Verify your KYC details.
- 06
Click on ‘submit’ to complete the application process.
Purpose of Taking an Emergency Personal Loan
You get instant funds when you apply for an emergency personal loan. Be it medical expenses, urgent home repairs, or other emergency expenses, you can use an emergency personal loan for any emergency.
Here are some reasons to take an emergency personal loan:
- Sudden medical expenses
- Emergency home or car repairs
- Immediate rent, school fees, or other bills when you are short on cash
- Unexpected family emergencies or travel requirements
- Unplanned family events
- Emergency business requirements
- Consolidating debt to clear high-interest credit card dues
How to Apply for a Loan Using an Emergency Loan App?
With just a few simple steps, you can complete your emergency loan application. Here's what to do:
- Open the app and register using your mobile number.
- Choose the loan amount and preferred EMI plan
- Enter your name, loan purpose, income, and PAN card number
- Complete the KYC process to verify your details
- Fill in your bank details for disbursement
- Get real-time approval for your loan
- Sign the e-Mandate and loan agreement digitally
- The approved loan will be credited in your bank account.
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Frequently Asked Questions
During an emergency, you can apply for a personal loan to get money urgently.
Download the Hero Fincorp personal loan app from the Play Store or App Store to get a secure emergency loan app.
Apply for an emergency personal loan from the Hero Fincorp app digitally to get quick access to funds.
You need identity proof, income proof, residence proof, and job continuity proof to get emergency loan immediately.
Hero Fincorp offers collateral-free emergency personal loans up to 5 lakh.
You must be an Indian citizen between 21 and 58 years. If you are salaried, you should have at least 6 months of work experience, and for business, you need a business vintage of at least 2 years. Additionally, your monthly income should be at least ₹15000, and a credit score of 750 or above is preferred.
After the approval, the funds are usually credited into your account within a few hours.
Yes. Hero FinCorp offers collateral-free personal loans for emergencies.
Yes. Hero Fincorp's emergency loan app is safe for sharing KYC data.
Hero Fincorp offers loans with an interest rate starting from 18%.
If you delay EMI payment, you might need to pay late fees. Plus, it affects your credit score. Choose an EMI plan that you are comfortable paying for and turn on auto EMI payments to avoid missing EMIs.
No. You do not get a tax exemption for personal loans in India.