Self-employed professionals, including freelancers, proprietors, consultants, and shop owners, can get an unsecured personal loan of ₹50,000 to ₹5 lakh from Hero FinCorp, an RBI-registered NBFC, without collateral, guarantor, or branch visits.
Personal Loan EMI Calculator
When you prefer applying through the website, the process is streamlined for speed and simplicity.
Visit Hero FinCorp and click on ‘Apply Now’.
Enter your mobile number and verify the OTP sent to your registered number.
Choose your desired loan amount using the Personal Loan EMI Calculator.
Complete the digital KYC verification to confirm your identity and income eligibility.
Click ‘Submit’ to complete your application. Once approved, the loan amount is credited directly to your bank account.
| Parameter | Requirement |
| Age | 21 to 58 years |
| Citizenship | Indian citizen |
| Business Vintage | Minimum 2 years of continuous business operation |
| Monthly Income | Minimum Rs 15,000 per month |
| CIBIL Score | 725 or above (strongly recommended) |
| Employment Type | Self-employed (proprietor, freelancer, professional, partner) |
Tip: You can check your eligibility instantly using the Personal Loan Eligibility Calculator on the website before applying.
Self-employed applicants at Hero FinCorp do not need to submit traditional income proof such as ITR filings, salary slips, bank statements, or business registration documents for the standard personal loan application.
Income verification for self-employed borrowers works as follows:
Hero FinCorp adheres to RBI-regulated Fair Practices Code (FPC) guidelines, ensuring complete transparency in pricing. All charges are disclosed upfront there are no hidden fees.
| Fee Type | Applicable Charge |
| Interest Rate | Starting from 18% per annum |
| Processing Fee | Minimum 2.5% + GST |
| Prepayment Charges | Not Applicable |
| Foreclosure Charges | 5% + GST |
| EMI Bounce Charges | Rs 350 per instance |
| Loan Cancellation | No cancellation charges via online app; interest paid and processing charges are non-refundable |
Disclaimer: The above rates are indicative and effective as of the latest Schedule of Charges published by Hero FinCorp. Actual rates may vary based on your credit profile, income, and other factors.
For entrepreneurs and independent professionals, timing is everything. A quick personal loan can provide the liquidity needed to act decisively. Here are the most common ways self-employed individuals use this facility:
Your Equated Monthly Instalment (EMI) depends on three factors: loan amount, interest rate, and tenure. Choosing the right combination ensures your repayment aligns with your business’s cash-flow pattern.
For a loan of Rs 3 Lakh at 18% per annum for 24 months, the estimated EMI would be approximately Rs 14,992. This is indicative of actual EMIs that are determined during the application based on your credit profile.
Use the Personal Loan EMI Calculator to estimate your monthly repayment before applying.
You can avail a Personal Loan of up to Rs 5 Lakh, subject to eligibility assessment, credit profile, and business vintage.
