Lesser loan tenure
Advances are generally taken for 1 to 3 years and don't linger for years giving a burden of repayment.
At Hero FinCorp, you may apply for a salary loan online for an amount between Rs 50,000 and Rs 5 Lakh. The interest rate starts at 19% per annum, ensuring the loan remains cost-effective and manageable. Follow the simple stepwise procedure to apply for an instant salary advance loan online and repay it in convenient EMIs spread across 12 to 36 months of tenure.
One of the best features and benefits of salary advance loan from Hero FinCorp is its hassle-free way of approval that involves minimal formalities and paperless documentation. Look at the flip side where you will have to seek approval from your workplace for a salary advance loan and here with Hero FinCorp, you can process your advance salary independently via an instant loan app.
Whether the loan is for ₹50,000 or ₹5 Lakh, borrowers should check the eligibility criteria before applying for an advance salary loan. Ensure that there are no cases of fraud.
In order to get a Personal Loan from Hero FinCorp, you must meet the eligibility criteria for the loan. The following are the personal loan eligibility criteria for salaried individuals.
Documentation is an important part of the loan application process. Let's take a look at the documentation required to apply for a personal loan at Hero FinCorp.
Hero FinCorp offers Personal Loans online from Rs 50,000 to 5 Lakh with instant approvals. The personal loan interest rates offered are reasonable, and so are the processing charges. However, it's important to know all applicable fees and charges before applying so you can gauge your actual cost of borrowing. Here is a quick recap.
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 |
Thinking about how to apply for a salary advance loan? Applying for a salary advance loan online has never been easier. By completing a fast and secure online application process, you can find a simple and accessible way to receive quick funds.
Visit the Hero FinCorp website or install the personal loan app
Go to the personal loan page and click ‘apply now’.
Enter your mobile number and verify with the OTP received
Choose the loan amount you need
Verify your KYC details to check income eligibility
Click ‘Submit’ to complete your application
Applying for an advance salary loan online makes use of a personal loan EMI calculator to know the exact advance amount taken in a stipulated repayment tenure.