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Short Term Loan

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Loan up to ₹5 Lakhs
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Minimum Salary Required ₹15K
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Instant Approval in 10 Minutes
Personal Loan EMI Calculator

Monthly EMI

₹ 0

Interest Payable

₹ 0

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:

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Lesser loan tenure

A short-term loan is typically approved for up to 3 years, avoiding long-term repayment burdens.

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Loan Amount

Short-term loan amounts range from Rs 50,000 to 5 Lakh, making it easy to repay in manageable EMIs.

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Loan Approval

 If you meet the eligibility requirements, short-term loans are approved within minutes of applying online.

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Open for All Borrowers

Short term loan is available even to those borrowers having low credit scores.

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Collateral Free

Being an unsecured personal loan, no security or assets are required to be mortgaged against the loan.

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Paperless Documentation

Short-term loans are paperless, requiring only your KYC details and income proof.

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Transparency

 Instant short-term loans are not bounded by any hidden charges or high processing fees.

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Calculate EMIs

Instant loan apps enable borrowers to calculate EMIs in advance using the personal loan EMI calculator
 

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Lower interest rate

Short-term loans with a low interest rate make the repayment affordable with reduced EMIs. 

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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.
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Age criteria

Applicant should be between 21-58 years

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Citizenship

Being an Indian resident citizen is a must.

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Work Experience

Minimum work experience for salaried employees is 6 months and 2 years for self-employed.

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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

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Proof of photo identity

Driver's Licence, Passport, PAN Card, Aadhaar Card

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Mandatory Documents

Filled Loan Application Form, Passport Size Photograph

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Proof of Income

Six-Month Salary Slip & Bank Account Statement, Form 16

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Job Continuity Proof

Appointment Letter from Current Employer

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Proof of Residence

Driver's Licence, Passport, Aadhaar Card, Utility Bill

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Proof of Business Existence

Not Applicable

Documents Required for Self-Employed

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Proof of photo identity

Driver's Licence, Passport, PAN Card, Aadhaar card

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Mandatory Documents

Filled Loan Application Form, Passport Size Photograph

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Proof of Income

Last Six Months Bank Statement, ITR for the Last Two Years

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Job Continuity Proof

Not Applicable

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Proof of Residence

Maintenance Bill, Utility Bill, Property Documents, Rent Agreement

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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.

Interest Rate

Starting from 1.58% per month

 

Loan Processing Charges

Minimum Processing fee is 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:

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  • 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