Hero Finance Personal Loan: 5 लाख का लोन इतने काम ब्याज दर पर, सिर्फ इतने महीनों के लिए

I don’t think Hero Fincorp needs an introduction. After ruling the two-wheeler industry for decades, Hero Fincorp now serves your financial needs. If you need a personal loan that may fulfill your current financial needs, you have a bright and renowned lender. With Hero Finance Personal Loan, you can avail an instant loan of 5 lakhs. The loan officials processed your loan within a few minutes and credited it directly to your bank account. You can apply for a personal loan at Hero Finance online, offline, or from their mobile application. The application process is minimal and smooth, as you have never experienced it before.

Not only is their loan processing good, but their interest rates are also competitive. Anyone with a good credit score and a minimum monthly salary of ₹15,000 can apply for this instant personal loan. Scroll down to learn more.

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Hero Finance Personal Loan

Hero is offering this instant personal loan at a rate starting from 12%. Your loan amount, credit score, and tenure may decide the final loan interest rate. So before proceeding, assess your loan amount and need so that you can easily repay the loan amount. Any salaried and self-employed person may apply for this loan, but they must consider the eligibility criteria for successful loan approval.

They make this loan collateral-free, so no guarantor or assets are required. However, preparing documents before applying is necessary; such information is shared in the next section.

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HeroFincorp Instant Personal Loan Overview

Maximum Loan AmountUp to 5 Lakhs
Loan Interest11%-35%
EligibilityAny Salaried or Self Employed
Minimum Age21 Years
Loan Tenure12-60 months
Processing Fee2.5%-3.5%
Foreclosure benefitYes
Loan Approvalwithin a day
Application ProcessOnline
Types of personal loan offerFor Self Employed,
Salary Advance loan,
Travel Loan,
Marriage loan,
Home renovation loan,
For Corporate Employees,
Education Loan,
Medical Loan,
Debt Consolidation Loan,
For Women,
For Doctors,
For Chartered Accountants,
Consumer goods loan and
For salaried employee

Hero Fincorp Personal Loan Interest Rate details

Different lenders offer varying interest rates for personal loans, which may change as needed. Before applying, applicants must check the interest rate and terms. Some lenders may offer you an attractive interest rate but may have some hidden charges whose information is usually shared in the terms and conditions. Interest rates may vary per the loan amount, tenure, and applicant’s credit score. Along with the interest rate, applicants must also review the loan processing fee, which is higher at other lenders, but at Hero Finance, you always find such things competitive.

Unlike others, Hero Fincorp believes in transparency and delivers all details upfront, even before you ask. Hero Fincorp charges an interest rate on reducing the balance, while others charge flat interest.

Interest Rate12-35% Annually
Processing Fee2.5-3.5%
Foreclosure charges5% and GST

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Eligibility Criteria for Hero Fincorp Personal Loan

To qualify for the loan, you need to absorb certain eligibility conditions. You may get the easiest eligibility conditions at Hero Finance compared to others. Here are they:

  • The age of applicants must be between 21 and 58 years old.
  • Any Indian Citizen can apply for the loan.
  • The applicant’s minimum salary to qualify for a loan is 15000.
  • Self-employed must have been running their business for two years and…
  • Those who are salaried must have a work experience of 6 months.
hero finance personal loan

Documents Required for Hero Finance Personal Loan

Before applying for the loan, keep a list of documents for salaried and self-employed people, as described below. Missing any of the items listed may increase the duration of loan approval. Ensure these documents are affixed with a duly filled-in loan application form and the latest photograph.

Documents TypesSalariedSelf Employed
Photo Identity ProofDriving License,
Passport,
PAN Card, and
Aadhaar card
Driver’s Licence,
Passport,
PAN Card, and
Aadhaar card
Address ProofDriver Licence,
Passport,
Aadhaar Card, and
Utility Bill
Driver Licence,
Passport,
Aadhaar Card, and
Utility Bill
Job Continuity ProofAppointment letter issued by the current employerNot Required
Proof of Business ExistenceNot RequiredCopy of Tax Registration,
Shop Establishment Proof, and
Company’s Registration Certificate

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Why Should One Choose Hero Finance Personal Loan?

You can choose the Hero Finance Personal for the following perks:

Quick ApprovalThe most important thing is their instant and quick approval. They approve like a trace of the bullet.
Less PaperworkDigital and streamlined loan applications are easy and require less paperwork.
Interest RateWith a starting of 12%, their interest rate is quite competitive compared to other lenders available in the market.
Flexible TenureOne has the flexibility to choose from 72 months to repay their loan.
Unsecured/Collateral FreeHero Finance Personal loans are unsecured, so you do not need to submit any assets or guarantor against your loan.

How to Apply Online for a Hero Finance Personal Loan?

Although various modes are available (Online/offline/Mobile App) for a cakewalk experience, choose the online one. After the application submission, the representative of Hero Ficorp will verify your details. Upon completion of authentication and verification (24-48 hrs), they disburse your loan. They will inform you of any irregularities in the details or documents.

  • Visit the Hero Finance Portal.
  • On the home page, look for the instant personal loan button.
  • A new page appears where you can read the loan terms and conditions.
  • Enter your mobile number and verify it with the received OTP.
  • Post confirmation, enter the loan amount.
  • Verify the KYC details for income eligibility.
  • Click the submit tab to complete the process.

How can I apply for the Hero Finance Personal Loan?

You can submit the loan application online or offline.

What credit score is good for a personal loan?

Anyone with a score of 700 or more is good for a personal loan.

What is the maximum tenure limit under Hero Fincorp Personal Loan?

Applicants will get a maximum of 60 months of loan tenure.

Can I foreclose my loan account?

Yes, you can, but for that, you need to pay a charge of 5%.

Can I calculate my loan EMI?

Yes, you can check the EMI at Hero Finance as per your amount and tenure.

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