Personal Loan EMI Calculator
Teachers are among the noblest professionals that Indians revere, obey, and respect without question. They are the most important members of our society as they help shape our younger generation’s lives and minds. Over the last few years, teachers have emerged as the most influential individuals in people's lives outside their home environment. They are responsible for raising students as better citizens who positively contribute to society. However, teachers also have their personal lives and might need money to cover various expenses, including a wedding in their family, pursuing higher education, renovating their house, dealing with a medical emergency, or going on a vacation.
As a teacher, you can look after your family and meet various social and financial commitments using a Personal Loan for teachers at Hero FinCorp.
We at Hero FinCorp make teachers' lives easier by providing them with financial support through loans for teachers. Educators are our preferred borrower segments, and we make funds instantly available online. Apply for our 3 years loan for teachers without security, collateral, or guarantor, and get the required funding without visiting our branch office even once.
A teacher’s loan helps in plenty of instances when you need immediate funds. Here’s a look at its top features and benefits:
Each borrower's loan requirement is different, and so is their repayment capacity. At Hero FinCorp, you can get a Personal Loan of up to Rs 5 Lakh, according to your eligibility. You may use the loan amount with no end-use restrictions.
The Personal Loan interest rate determines your EMI amount and loan feasibility. We offer Personal Loans for teachers at attractive interest rates based on your credibility, credit history, income, employment, work experience, and other crucial parameters.
If you apply for a Personal Loan for teachers at the Hero FinCorp website or mobile app, you don't need to arrange a guarantor, deposit security, or pledge an asset as collateral against the required funding. We offer collateral-free loans without any such requirements.
We offer unsecured Personal Loans with repayment terms of up to five years. That means you can repay the debt quickly or gradually based on your repayment capacity. A Personal Loan EMI calculator helps select an appropriate loan term with budget-friendly EMIs.
Most teachers borrow Personal Loans when there is an emergency and need instant funds to cover the expense. Once you apply for a loan and we verify your documents, we approve the application quickly and disburse instantly.
You should be between 21 and 58 years at the time of application and maturity.
To qualify for a Personal Loan for teachers at Hero FinCorp, you must be an Indian citizen working in an Indian educational institute.
Whether you're a government or private teacher, you need at least six months of teaching experience at the same school for a Personal Loan.
The minimum salary requirement for a Personal Loan at Hero FinCorp is Rs 15,000 per month.
Whether you are a salaried teacher at a government or private institute or a self-employed teacher running your institute, our loans for teachers can really help you during financial contingencies. You can use a Personal Loan for teachers to aid your dreams and relieve all financial responsibilities. However, you must submit a few essential documents to prove your identity and eligibility. Here is a list of documents that salaried and self-employed teachers need to provide to apply for a Personal Loan.
Duly filled loan application form Passport-size photograph (coloured)
Driver’s licence, passport, PAN card, or Aadhaar card
Driver’s licence, passport, Aadhaar card, ration card, or utility bill
Residence ownership proof, like electricity bills, maintenance bills, or property documents
Last six months' salary slips, the previous six months' salary account statement, and Form 16 Job continuity proof, like an appointment letter from the current employer or experience certificate from the previous employer
Duly filled loan application form Passport-size photograph (coloured)
Driver’s licence, passport, PAN card, or Aadhaar card
Driver’s licence, passport, Aadhaar card, ration card, or utility bill Office address proof, like maintenance bills, utility bills, property documents, or rent agreement
Business existence proof, like a copy of tax registration, shop establishment proof, or company registration certificate.
Last six months' bank statements and ITR for the previous two consecutive years
At Hero FinCorp, we keep our interest rates and charges to the minimum to help teachers cover their financial expenses. Here are the details about interest rates and a few additional charges you must be aware of:
Interest Rate: Our Personal Loan interest rates depend on your eligibility, credibility, and repayment capacity.
Processing Charges: We charge 0.5 to 4% of the loan amount as processing charges to process loans.
Overdue EMIs: If you miss an EMI payment, you must pay 1-2% of the outstanding EMI per month.
Cheque Bounce: If your EMI cheque bounces, we will charge Rs 500 for each instance.
Loan Cancellation Charges: If you cancel the loan, you will not get a refund of your processing charges. Although we do not charge cancellation fees, the interest paid during the period will be payable.
Teaching is a noble profession that shapes the future of the country. However, when teachers need finance for personal or professional expenses, a Personal Loan provides them with much-needed financial support. Here is an easy way to apply for a teacher's loan online:
Begin by clicking the 'Apply Now' button found on the Personal Loan page of the Hero FinCorp website.
Complete an online application form with the required information.
Provide your KYC details, including documents like Aadhar card, PAN card, and proof of address.
Upload the required documents as specified in the application.
Wait for the verification online
Once approved, get your loan offer
Accept the loan offer and get instant loan disbursal
Before applying, use our Personal Loan EMI calculator to select an adequate loan term with budget-friendly EMIs, and change the variables until you find an appropriate loan EMI.
