Collateral-Free
You don't need to pledge any asset as collateral to get the loan.
Quick Loans Online
Loan up to ₹5 Lakhs
Minimum Salary Required ₹15K
Instant Approval in 10 minutes
Calculate EMI For Quick Personal Loan
Get Quick Loan Online Up to 5 Lakh
Financial emergencies can happen anytime, draining your savings and hindering both your short- and long-term goals. During these times, you need quick financial assistance without long lines or paperwork. This is where quick Personal Loans from Hero FinCorp can help. These loans are 100% digital, with no collateral, physical documents, or branch visits involved. You receive online loan approval in 10 minutes and the loan amount credited to your bank account, within no time.
Hero FinCorp offers quick Personal Loans, up to Rs 5 Lakh that can help you manage urgent needs with ease. These collateral-free loans are available with flexible repayment tenures (12-36 months), competitive interest rates, starting at just 1.58% per month, and flexible usage. Those earning at least Rs 15,000 per month may qualify and apply from the comfort of their home.
Features and Benefits of Quick Loan
As its name suggests, quick loan finance must have instant approval and fast disbursal facilities. They are specifically designed for people who need immediate funding. Let’s look at their most notable features and benefits.
Flexible Repayment Tenure
You can choose a repayment tenure of 12 to 36 months.
Instant Approval
When you apply online, you get loan approval within a few minutes.
High Loan Amount
You can get a quick Personal Loan of up to Rs 5 Lakh online.
Attractive Interest Rate
The interest rates of our quick easy loans start from 1.58% per month.
Online Process
Apply for a Personal Loan online through Hero FinCorp’s website or app, ensuring quick approvals and minimal paperwork requirements.
Simple Application
Fill out a simple Personal Loan application form in just a few steps with basic details and necessary information.
Hassle-free Documentation
Submit only essential documents online, making the entire verification and approval process smooth, quick, and stress-free.
Good Credit Score
A credit score of 750 or more improves your chances of approval and lets you enjoy better interest rates and loan terms.
Eligibility Criteria for Quick Loan
Hero FinCorp's personal loan eligibility criteria are easy to meet for both salaried and self-employed individuals. Here is a summary of important requirements.
Monthly Salary
Applicant should at least earn a minimum amount of Rs 15,000 monthly
Age
Applicant should be between 21-58 years
Citizenship
You should be a citizen of India
Work Experience
A minimum of one year of work experience is required for eligibility
Documents Required for Quick Loan
Documentation is crucial for verification and assessment of eligibility. Hero FinCorp's documentation is simple. Nevertheless, you should be aware of the documents required for a personal loan application. The documentation is a little different when it comes to salaried applicants and self-employed applicants. Here is a breakdown.
Documents Required Salaried Employee
Mandatory Documents
Duly filled loan application form Passport-sized photograph (coloured)
Identity Proof
Driving licence, passport, PAN card, or Aadhaar card
Address Proof
Driving licence, passport, Aadhaar card, ration card, or utility bill
Ownership Proof
Residence ownership proof, like electricity bills, maintenance bills, or property documents
Income Proof
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
Documents Required Self-Employed Individuals
Mandatory Documents
Duly filled loan application form Passport-sized photograph (coloured)
Identity Proof
Driving licence, passport, PAN card, or Aadhaar card
Address Proof
Driving licence, passport, Aadhaar card, ration card, or utility bill Office address proof, like maintenance bills, utility bills, property documents, or rent agreement
Ownership Proof
Business existence proof, like a copy of tax registration, shop establishment proof, or company registration certificate
Income Proof
Last six months' bank statements and ITR for the previous two consecutive years
Interest Rate and Charges for Quick Loan
Before applying for a loan, it’s important to know the associated costs. At Hero FinCorp, personal loan interest rates and related charges are nominal. Here are the details.
| 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 Quick Loan Online?
At Hero FinCorp, you can apply for a quick Personal Loan online. Here is the stepwise process.
- 1
Visit the Hero FinCorp website or install the personal loan app
- 2
Go to the personal loan page and click ‘apply now’
- 3
Enter your mobile number and verify with the OTP received
- 4
Choose the loan amount you need
- 5
Verify your KYC details to check income eligibility
- 6
Click ‘Submit’ to complete your application
Reasons to Opt for a Quick Loan
The best thing is that quick loans do not come with any end-use restrictions, allowing you to use them for any purpose you want. You may opt for quick loan services for a variety of reasons, including the following:
Frequently Asked Questions (FAQs)
A quick loan is an instant Personal Loan that does not come with any end-use restrictions. Moreover, it is collateral-free, and you can obtain it completely online. If you are eligible and provide the necessary documents, you get approved instantly and disbursal within a few hours. Cover the expense with the funds and repay in easy EMIs spread across a loan term of up to 36 months.
These are the requirements to qualify for a quick loan at Hero FinCorp:
Age between 21 to 58 years
Minimum monthly income of Rs 15,000
Sufficient work experience
High credit score and low DTI ratio
Documents, including your identity, income, and address proofs
Consider your loan requirement and repayment capacity before applying for a quick loan. Avoid over-borrowing and ensure you can repay it on time to avoid any financial stress later.
Yes, but you must have a good income and a low DTI ratio to build trust and convince us of your repayment capacity.
The repayment process of quick loans takes place in equated monthly installments. Based on your loan amount, interest rate, and repayment tenure, divide your total loan cost into the number of EMIs in your loan tenure and repay on time to build your credit score.
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