Competitive Interest Rate
Get competitive interest rates starting from 1.58% per month, making your loan cost-effective over the repayment tenure.
Unsecured Personal Loan
Easy Digital Process
Minimum Salary Required ₹15K
Instant Approval in 10 Minutes
Calculate Personal Loan EMI
Get Unsecured Personal Loans Up to Rs 5 Lakh
Do you need cash in a hurry? Hero FinCorp can provide you unsecured Personal Loans, offering you financial flexibility and convenience. Applying for an unsecured loan is very easy. We allow you to borrow up to Rs 5 Lakh without any security or collateral. You can use this loan for whatever purpose you like, be it for a holiday, medical expenses or to pay for your higher education.
You can apply from the convenience of your home, either via our online app, website or through your nearest Hero FinCorp branch. The only necessary documents needed are KYC documents and proof of income. A minimum monthly income of Rs 15,000 is required whether the applicant is salaried or self-employed. The best part is that you can get online approval in 10 minutes.
Features and Benefits of Unsecured Personal Loan
Enjoy numerous advantages offered by Hero FinCorp's unsecured Personal Loan, customized to your requirements:
Paperless Application Process
Enjoy a seamless, paperless loan process when you apply online with Hero FinCorp.
Loan Up to 5 Lakh
Get a personal loan of up to 5 Lakh online for various planned and unplanned expenses.
Quick Approval
You can get approval within 10 minutes for quick access to funds when you apply online.
Flexible Repayment Plans
Choose a repayment tenure of 12 to 36 months based on your monthly budget.
Eligibility Criteria for Unsecured Personal Loan
Before applying for a unsecured personal loan, make sure you meet the eligibility criteria. These include your age, monthly income, work experience, and Indian citizenship. At Hero FinCorp, the personal loan eligibility criteria are simple and easy to fulfil.
| Eligibility Criteria | Details |
|---|---|
| Age | Applicants should be between 21 and 58 years. |
| Citizenship | You should be a citizen of India. |
| Work Experience | Six months for salaried individuals and 2 years for self-employed individuals. |
| Monthly Income | You should have a minimum income of Rs 15,000 monthly. |
List of Documents Required For Unsecured Personal Loan
Documentation is an essential part of the loan application process. Requirements may vary slightly for salaried and self-employed applicants, so it’s advisable to understand them beforehand. Being prepared with the necessary personal loan documents can help ensure a smooth and hassle-free application process. Here’s a list of the commonly required documents.
Documents Required Salaried Employee
Mandatory Documents
Duly filled loan application form Passport-size photograph (coloured)
Identity Proof
Driver’s licence, passport, PAN card, or Aadhaar card
Address Proof
Driver’s licence, passport, Aadhaar card, ration card, or utility bill
Ownership Proof
Residence ownership proof, like electricity bills, maintenance bills, or property documents
Income Proof
Last six months' salary slips, the previous six months' salary account statement, and Form 16 Job continuity proof, like an appointment letter from the current employer or experience certificate from the previous employer
Documents required for Self Employed
Mandatory Documents
Duly filled loan application form Passport-size photograph (coloured)
Identity Proof
Driver’s licence, passport, PAN card, or Aadhaar card
Address Proof
Driver’s licence, passport, Aadhaar card, ration card, or utility bill Office address proof, like maintenance bills, utility bills, property documents, or rent agreement
Ownership Proof
Business existence proof, like a copy of tax registration, shop establishment proof, or company registration certificate
Income Proof
Last six months' bank statements and ITR for the previous two consecutive years
Interest Rates and Charges on Unsecured Personal Loan
You should be aware of the loan costs, like the interest rates and processing fees, before applying for an unsecured Personal Loan. At Hero FinCorp, the interest rates on personal loans are competitive, and other charges are nominal. Here are the details.
| 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 |
|
How to Apply for an Unsecured Personal Loan?
Applying for a personal loan online is now more accessible than ever. With a quick and easy process, you can easily get instant funds to meet your financial needs.
- 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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No, there are no hidden charges associated with Hero FinCorp's unsecured Personal Loans. We believe in transparency and provide clear terms to our customers.
Yes, Hero FinCorp offers unsecured Personal Loans, which means you don't need to provide collateral to secure the loan.
Unsecured Personal Loans offer peace of mind to borrowers as they don't require collateral. With responsible financial planning, borrowers can confidently manage repayments without worrying about risking assets.
No, Hero FinCorp offers unsecured Personal Loans to both salaried and self-employed individuals, ensuring accessibility to a wider range of customers.
An unsecured Personal Loan has no collateral requirement. In comparison, a secured loan requires collateral, like property, gold or securities.
You can opt for an unsecured Personal Loan online through Hero FinCorp. You may get up to Rs 5,00,000 at competitive rates and flexible terms.
Yes, unsecured Personal Loans do not require collateral, which makes the process faster. This saves time during emergencies.
Yes, some lenders may provide you an unsecured Personal Loan even with a low credit score. However, they may offer a small loan or charge a higher rate of interest.
Online Personal Loans have competitive rates and flexible repayment terms and require minimal documentation. Also, they get approved in minutes.
You may get approval for an unsecured Personal Loan in as little as 10 minutes from Hero FinCorp.
Yes, you may take an unsecured Personal Loan from Hero FinCorp with repayment terms between 12 to 36 months.
You can use our Personal Loan EMI Calculator. All you need is the interest rate offered by the lender, your loan amount and the preferred loan tenure to see how it will affect your monthly EMI.
You can get the maximum loan amount of up to Rs 5,00,000, subject to your eligibility, from Hero FinCorp.
No. Some online lenders, like Hero FinCorp, do not request you provide physical copies of your documents. They only request your KYC particulars along with proof of income.