Small Personal Loan

A Small Personal Loan offers quick access to money for short-term needs such as education, emergencies, or household maintenance. With simple eligibility and flexible EMIs, it presents a hassle-free mode of borrowing according to your financial requirements.

Quick loan approval process

Flexible repayment tenure

Easy online application

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Calculate Personal Loan EMI

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Get a Small Personal Loan Online Up to Rs 5 Lakh

Managing unexpected expenses can sometimes put a strain on your finances. If you are looking for a small Personal Loan online with minimal paperwork and fast approval, Hero FinCorp can lend you online Personal Loans of small amounts up to Rs 5 Lakh. It can be for a medical emergency, education, travelling, repairs to your home, or any of life's unforeseen events. These online small loans come with flexible repayment options, competitive interest rates, complete transparency, and a hassle-free digital application from wherever you are. We offer simple, secure, and convenient loans. There are no hidden costs or waiting for long periods.

Hero FinCorp does have a simple loan online application, so apply today for a small instant loan and receive it when you want to use it.

Features and Benefits of Small Personal Loans

A Hero FinCorp small cash loan can assist you with your financial borrowing needs. Here are some key features that make this loan a great choice:

Collateral-Free Loans

A number of lending options require you to pledge an existing asset or have a person guarantee your loan. A Hero FinCorp small loan is approved based on creditworthiness and some essential elements.

Easy Application and Documentation

Hero FinCorp aims to simplify the small Personal Loan process to assist its borrowers and potential customers. You can use our fully digital application that is very simple and requires minimal documentation. All they need to complete an application is basic KYC information and proof of income, so that the process is as easy as possible for the potential customer using the Hero FinCorp platform for personal borrowing and lending needs.

Flexible Repayment Plans

Select from different repayment tenures so that your EMIs are manageable within your budget and monthly cash flow.

Competitive Interest Rate

Enjoy our attractive interest rates starting from 19% p.a., which make your repayments affordable, helping you manage your finances easily.

Eligibility Requirements for an Instant Small Personal Loan

Before filling out the application for a small instant loan with Hero FinCorp, 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
Age	The applicant must be between the ages of 21 and 58 years at the time of applying for the loan to get approval.
Citizenship	The applicant must be an Indian citizen with a valid ID proof issued by the Government of India to apply for a small personal loan.
Work Experience	1. Salaried Individuals: Minimum 6 months 2. Self-employed Individuals: Minimum 2 years of stable business operations
Monthly Income	To determine eligibility, there should be a consistent monthly income (enough to ensure timely EMI repayment and the loan gets approved). The minimum is just Rs 15,000 only.
Credit Score	A score of 750+ is generally preferred for instant approval.

List of Documents Needed to Apply for a Small Personal Loan

To apply for a small personal loan from Hero FinCorp, you need very few documents. Just make sure you have the required loan papers ready, whether you're salaried or self-employed.

Pan Card
Aadhar Card

Small Personal Loan Interest Rates and Charges

Prior to applying for a small Personal Loan, it's important to know the personal loan interest rates and charges. Hero FinCorp has 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	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	Online loan application does not charge any cancellation fees
	Interest amount paid is non-refundable
	Processing charges are also non-refundable

How to Apply For a Small Personal Loan?

The application process for a small instant Loan via Hero FinCorp is a simple fully digital process. Here’s how you can apply:

1
Go to the Hero FinCorp website or the Hero FinCorp personal loan app.
2
Select a small personal loan and click on ‘apply now’.
3
Enter your mobile number and authorise the OTP received.
4
Select your preferred loan amount and loan repayment tenure.
5
Complete the KYC verification to check your eligibility based on your income.
6
Click ‘Submit’ to complete the application process.

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Frequently Asked Questions

What is the timeframe for a small instant loan approval process with Hero FinCorp?

Once you have cleared KYC and income verification checks, as well as some basic verification, the approval is instant. The application submission is 100% online and the requirement for documents needed is minimal.

What is the minimum and maximum amount for a small instant loan?

The minimum amount you can qualify for is Rs 50,000 and you can go up to Rs 5 Lakh for a small loan, based on eligibility.

If I have a low credit score, will I qualify for a small instant loan?

Based on your income and employer, you may qualify, but a better credit score increases the chances of approval.

Do I need to provide collateral for a small instant loan from Hero FinCorp?

Personal Loans are unsecured loans and do not need collateral or a guarantor; they are approved based on your credit and income profile.

What is the loan tenure for a small instant loan with Hero FinCorp?

Hero FinCorp offers flexible loan terms, where a small instant loan can have a 12 to 36 months term.

Can I prepay my small instant loan from Hero FinCorp, and are there any charges?

Yes, you can prepay and pay off your loan early, but there will be applicable foreclosure fees applicable.

How long does it take to receive the loan amount after approval?

Usually, the loan amount is disbursed to your bank account within a few hours post-approval.

What is the repayment process for small instant loans by Hero FinCorp?

Repayment can be made through monthly EMIs via ECS or Auto-Debit, as suitable, based on the selected tenure and the bank details provided.

Can I apply for multiple small instant loans from Hero FinCorp?

Depending on your repayment history, current liabilities, along with Hero FinCorp's assessment of your overall eligibility, multiple applications may be accepted.

What Are the Differences Between Basic Loans Vs. Small Loans

When you are thinking about a loan, it is helpful to know how basic loans or small cash loans are different in terms of eligibility, process and features. Here is a brief overview to help you make the right choice from the loan options available to you according to your financial 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 affordable with comparatively lower 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 minimal or no paperwork involved

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Get a Small Personal Loan Online Up to Rs 5 Lakh

Hero FinCorp does have a simple loan online application, so apply today for a small instant loan and receive it when you want to use it.

Eligibility Requirements for an Instant Small Personal Loan

Eligibility Criteria	Details
Age	The applicant must be between the ages of 21 and 58 years at the time of applying for the loan to get approval.
Citizenship	The applicant must be an Indian citizen with a valid ID proof issued by the Government of India to apply for a small personal loan.
Work Experience	1. Salaried Individuals: Minimum 6 months 2. Self-employed Individuals: Minimum 2 years of stable business operations
Monthly Income	To determine eligibility, there should be a consistent monthly income (enough to ensure timely EMI repayment and the loan gets approved). The minimum is just Rs 15,000 only.
Credit Score	A score of 750+ is generally preferred for instant approval.

Small Personal Loan Interest Rates and Charges

Fees & Charges	Amount Chargeable
Interest Rate	Starting from 19% p.a.
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	Online loan application does not charge any cancellation fees
	Interest amount paid is non-refundable
	Processing charges are also non-refundable

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 affordable with comparatively lower 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 minimal or no paperwork involved

Personal loan starting @ 1.58% p.m.

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Small Personal Loan

Get a Small Personal Loan Online Up to Rs 5 Lakh