Digital Loan Application
You can apply for a Personal Loan for self-employed online through our app or website.
Personal Loan for Self Employed
Managing business costs or personal needs can be challenging. Hero FinCorp’s Personal Loan for Self-Employed gives you quick funds with minimum documentation & easy EMIs. Apply today and keep your growth on track.
Loan up to Rs. 5 Lakhs
Minimum Salary Required Rs.15K
Instant Approval in 10 Minutes
Personal Loan EMI Calculator
Get Personal Loan for Self-Employed Up to 5 Lakh
Hero FinCorp’s Personal Loan for self-employed professionals is an ideal way to expand your business, manage working capital, or cover personal financial needs like home renovation, travel, wedding. Self-employed applicants with at least two years of business stability can easily apply for a personal loan for self through a quick online application process. You can get a personal loan ranging from Rs 50,000 to Rs 5 lakhs, with competitively low interest rates. Since the loan is an unsecured loan, no collateral or guarantor is required. Use the personal loan EMI calculator to check repayment options and qualify for a personal loan with flexible terms of 12–36 months.
Features and Benefits of Personal Loan for Self-employed
If you are a businessperson looking for a instant 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 19% p.a. 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
Hero FinCorp allows self-employed individuals to receive quick funds without the tedious paperwork.| Eligibility Criteria | Details |
|---|---|
| Age | Applicants must be 21 to 58 years old. |
| Citizenship | Only Indian citizens are eligible to apply for a personal loan with Hero FinCorp. |
| Work Experience | Self-employed individuals should have a minimum of 2 years of experience. |
| Monthly Income | Applicants must have a minimum monthly income of Rs 15,000. |
Documents Required for Personal Loan for Self-Employed
It is quick and easy to apply for a self-employeed loan with Hero FinCorp. Simply complete the online personal loan application, and the loan amount is credited to your account after instant loan approval. You just need to handy the below documents for instant verification.
- Aadhaar Card
- PAN Card
Interest Rate and Charges for Personal Loan for Self-Employed
When considering a personal loan for self-employed individuals, it is crucial to understand the personal loan interest rate and charges involved before you apply for a loan. Here is a concise overview of what you need to know:
| Fees & Charges | Amount Chargeable |
| Interest Rate | Starting from 19% 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 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 through a simple loan application:
- 01
Visit the Hero FinCorp website or download the personal loan app to start your online personal loan application.
- 02
Go to the instant personal loan section and click ‘Apply Now’ to apply for a personal loan.
- 03
Enter your mobile number, submit the OTP, and begin your personal loan application.
- 04
Select the loan amount.
- 05
Complete KYC, check income eligibility, and use the personal loan EMI calculator to plan repayment options.
- 06
Click ‘Submit’ to finish the online application process and get instant loan approval.
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Frequently Asked Questions
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.
Disclaimer
*Approval & Agreement: Loan approval is at Hero FinCorp's discretion. By applying, you agree to our Terms & Conditions, Privacy Policy, and Loan Agreement.
*Data Use: You consent to electronic processes and data use for loan assessment, as per our Privacy Policy.
*Security: Keep your account and device secure. Report our customer care for unauthorized activity immediately.
*Grievances: For concerns, refer to our Grievance Redressal Policy.
*EMI Payment: Refer to our T&Cs here*
*RBI Mandate: RBI requires transparent disclosures. Learn more from RBI.