Collateral-Free Loans
Unlike other loans requiring collateral or guarantors, a mini loan is approved based on your creditworthiness and eligibility criteria. No asset pledges are needed.
Small Personal Loan
A Small Personal Loan offers quick access to money for short-term financial requirements such as unexpected medical bills, home repairs, or essential education expenses. With transparent eligibility criteria and flexible EMI options, it presents a responsible and digitally-enabled mode of borrowing aligned with your financial needs.
Quick Loan Approval Process
Flexible Repayment Tenure
Completely Digital Documentation (Paperless)
Calculate Personal Loan EMI
Apply for a Small Personal Loan Online Up to Rs 5 Lakh
If you need a small loan online with a paperless process and quick approval, you can apply with Hero FinCorp. Whether it’s a medical emergency, education, travel, home repairs, or any unexpected expense, you can get up to Rs 5 Lakh online. These loans come with flexible repayment tenures, competitive interest rates, complete transparency, and a hassle-free digital application.
We ensure simple, secure, and convenient loans with no hidden charges or long waiting periods. Apply online today for a small quick loan and receive funds when you need them.
Features and Benefits
A small cash loan provides quick financial support for personal needs or unexpected expenses. With an easy application, a paperless process, and transparent terms, it ensures a fast, convenient and hassle-free borrowing experience for individuals.
Paperless Application and Documentation
You can apply for a mini loan online without physical documents. You just need to provide your KYC details for a quick, hassle-free process.
Flexible Repayment Plans
Choose repayment tenures that suit your budget, ensuring EMIs are manageable and align with your monthly cash flow comfortably.
Competitive Interest Rate
Benefit from attractive interest rates starting at 19% p.a., making repayments manageable and helping you handle your finances without strain.
Eligibility Requirements
Before applying, make sure you meet the basic eligibility requirements for a personal loan. These requirements will help ensure your application is processed smoothly, so that the money gets disbursed on time, especially when you need it most.
| Eligibility Criteria | Details |
|---|---|
| Monthly Income | You should have a minimum monthly income of Rs 15,000. |
| Age | You must be between 21 and 58 years at the time of applying for the loan. |
| Citizenship | You should be a citizen of India. |
| Work Experience | Salaried individuals need at least six months’ continuous work. Self-employed applicants require a minimum of two years in business. |
| Credit Score | A score of 700 or above is generally preferred for instant approval. |
Documents Needed
To apply for a small quick loan, you need only a few documents. Whether salaried or self-employed, keep the following documents handy for instant verification.
- PAN Card
- Aadhaar Card
Interest Rates and Charges
Prior to applying for a mini loan, it's important to know the personal loan interest rates and charges. We have simple, transparent pricing with competitive interest rates and nominal related costs to give you peace of mind and affordability.
| Fees & Charges | Amount Chargeable |
|---|---|
| Interest Rate | Starting from 19% p.a. |
| Loan Processing Charges | Minimum 2.5% + GST |
| Prepayment Charges | N.A. |
| Foreclosure Charges | Up to 5% + GST ( As per the latest NBFC Master Circulars ) |
| 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 application does not charge any cancellation fees |
| 2. Interest amount paid is non-refundable | |
| 3. Processing charges are also non-refundable |
How to Apply For a Small Personal Loan?
The application process for a small instant Loan is a simple fully digital process. Here’s how you can apply:
- 01
Go to the Personal Loan section on the website.
- 02
Select Small Personal loan and click ‘apply now’.
- 03
Enter your mobile number and authorise the OTP received.
- 04
Select your preferred loan amount and loan repayment tenure.
- 05
Complete the KYC verification to check your eligibility based on your income.
- 06
Click ‘Submit’ to complete the application process.
Purpose of Taking Small Personal Loan
A mini loan serves as a quick and convenient financial solution to manage short-term or minor expenses without disturbing your savings. It provides instant access to funds that can be used for various personal or household needs. With flexible repayment options and a paperless documentation process, it’s a smart choice for anyone looking to bridge a temporary financial gap.
Here are some common purposes for taking a mini loan:
- Covering unexpected medical expenses
- Managing education-related costs
- Handling home repairs or appliance purchases
- Paying utility bills or rent during cash crunches
- Funding short trips or personal events
- Consolidating small debts for easier repayment
How to Download a Small Instant Personal Loans App?
Our Small Personal Loan App is easy and simple to download. Once installed, you can apply, track, verify information, and manage loans at any time via your mobile phone.
Here is how to get started and download the app:
- Pick up your phone and open the app store.
- Type in the Hero FinCorp App in the search field.
- Recognise the verified app of Hero FinCorp from the list provided.
- Click Install to download the app.
- When the installation is complete, tap the app icon to open it.
- Grant the permissions to use the app seamlessly.
- You can register or log in with your mobile number.
How to Apply for a Loan Via Small Instant Loan App?
When you apply for a loan using the small quick loan app, the process is 100% digital and takes only a few minutes. These are the steps to apply:
- Open the loan app on your smartphone.
- Choose the loan amount and preferred EMI.
- Enter the required details.
- Complete your KYC process.
- Input your bank account details.
- Get real-time approval of the loan.
- Digitally sign the e-Mandate and the loan agreement.
- Receive the loan amount in your account quickly.
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Frequently Asked Questions
The application submission is 100% online. Once you provide all necessary details, approval is typically instant. The loan amount is usually disbursed to your bank account within a few hours post-approval and digital signing of the agreement.
The minimum amount you can qualify for is Rs 50,000 and you can go up to Rs 5 Lakh for a mini loan, based on eligibility.
Yes, you may still qualify, as your application is assessed holistically. Eligibility is determined based on your income stability, employer profile, and existing liabilities. However, a good CIBIL Score (700 or above) significantly increases your chances of instant approval and may qualify you for more favorable interest rates.
Personal Loans are unsecured loans and do not need collateral or a guarantor; they are approved based on your credit and income profile.
Hero FinCorp offers these instant loans with repayment terms ranging from 12 months (1 year) to 36 months (3 years).
Yes, you can prepay and pay off your loan early, but there will be foreclosure fees applicable.
Usually, the loan amount is disbursed to your bank account within a few hours post-approval.
Repayment is made through monthly EMIs via ECS (Electronic Clearing Service) or NACH (National Automated Clearing House) Auto-Debit, based on the selected tenure and the bank details provided. This automated process ensures timely repayment.
Yes, you can apply for multiple small instant loans online, depending on your repayment history, existing liabilities, and overall eligibility assessment.
When considering a loan, it’s useful to know how basic loans and small cash loans differ in eligibility, process, and features. Here’s a simple overview to help you choose the best option for your needs.
| Parameter | Basic Loans | Small Loans |
|---|---|---|
| Loan Amount | Offer larger amounts, going up to Rs 5 Lakh | Start at Rs 50,000 and are ideal for short-term or smaller expenses |
| Foreclosure Flexibility | Usually have the option to foreclose the loan | May not always allow early closure |
| Interest Rates | Tend to have higher interest rates | Often more attractive interest charges |
| Repayment Tenure | Come with longer repayment options of up to three years | Offer shorter tenures beginning from one year |
| Documentation Process | Require detailed paperwork submission | Can often be approved digitally with no paperwork involved |