Lesser loan tenure
A short-term loan is typically approved for up to 3 years, avoiding long-term repayment burdens.
Short Term Loan
Loan up to ₹5 Lakhs
Minimum Salary Required ₹15K
Instant Approval in 10 Minutes
Personal Loan EMI Calculator
Get a Short Term Loan Online Upto Rs 5 Lakh
A short-term loan from Hero FinCorp offers instant financial relief with quick disbursal and a paperless process. Available for amounts between Rs 50,000 to Rs 5,00,000, the loan can be used for various urgent needs. With flexible tenures of up to 3 years, Hero FinCorp ensures easy and convenient loan management through its digital platform.
Features and Benefits of Short Term Loan
A short-term loan is an easy solution for a financial crisis. Since the amount borrowed is small, it can be repaid through manageable EMIs. Instant loan apps make it easier to apply for short-term loans online from anywhere—be it at home, office, or on the go. Just download the app and start your loan application. Learn more about the benefits and features of short-term loans through the Hero FinCorp app:
Loan Amount
Short-term loan amounts range from Rs 50,000 to 5 Lakh, making it easy to repay in manageable EMIs.
Loan Approval
If you meet the eligibility requirements, short-term loans are approved within minutes of applying online.
Open for All Borrowers
Short term loan is available even to those borrowers having low credit scores.
Collateral Free
Being an unsecured personal loan, no security or assets are required to be mortgaged against the loan.
Paperless Documentation
Short-term loans are paperless, requiring only your KYC details and income proof.
Transparency
Instant short-term loans are not bounded by any hidden charges or high processing fees.
Calculate EMIs
Instant loan apps enable borrowers to calculate EMIs in advance using the personal loan EMI calculator.
Lower interest rate
Short-term loans with a low interest rate make the repayment affordable with reduced EMIs.
Quick disbursal
Quick disbursal in the borrower’s bank account makes it a viable option during a financial emergency.
Eligibility Criteria for Short Term Personal Loan
Short-term loans have simple eligibility and minimal documentation, making online applications easy. Here are the personal loan eligibility criteria needed for instant approval.
Age criteria
Applicant should be between 21-58 years
Citizenship
Being an Indian resident citizen is a must.
Work Experience
Minimum work experience for salaried employees is 6 months and 2 years for self-employed.
Monthly Income
Minimum income requirements of Rs 15,000 per month.
Documents Required for Short Term Loan Online
At Hero FinCorp, the documents required for personal loan include proof of identity, address, and income. Easily upload them online via our website or app. Requirements vary for salaried and self-employed individuals.
Documents Required for Salaried
Proof of photo identity
Driver's Licence, Passport, PAN Card, Aadhaar Card
Mandatory Documents
Filled Loan Application Form, Passport Size Photograph
Proof of Income
Six-Month Salary Slip & Bank Account Statement, Form 16
Job Continuity Proof
Appointment Letter from Current Employer
Proof of Residence
Driver's Licence, Passport, Aadhaar Card, Utility Bill
Proof of Business Existence
Not Applicable
Documents Required for Self-Employed
Proof of photo identity
Driver's Licence, Passport, PAN Card, Aadhaar card
Mandatory Documents
Filled Loan Application Form, Passport Size Photograph
Proof of Income
Last Six Months Bank Statement, ITR for the Last Two Years
Job Continuity Proof
Not Applicable
Proof of Residence
Maintenance Bill, Utility Bill, Property Documents, Rent Agreement
Proof of Business Existence
Copy of Tax Registration, Shop Establishment Proof, Company’s Registration Certificate
Interest Rate and Charges for Short Term Loan
With Hero FinCorp, you can secure a low-interest personal loan, starting from 1.58% per month or 19% to 30% per annum, with minimal documentation. Besides the personal loan interest rate, here’s a quick overview of additional fees and charges to expect. Our fee structure is fully transparent, ensuring no hidden costs beyond these specified charges.
| 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 a Short Term Personal Loan Online?
Hero FinCorp process of short-term personal loan application is very easy, follow the steps below:
- 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
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