In case you earn about ₹1,50,000 per month and need liquidity for emergency expenditure, then Hero Fincorp Personal Loan is the best financial alternative for you. With nominal terms and conditions, competitive interest rates, and swift disbursement, this loan is meant for your immediate requirements – weddings, medical emergencies, higher studies, travel, etc.
The article will continue with the benefits, eligibility criteria, interest rates, documents required, and the application procedure of a Hero Fincorp Personal Loan.
Eligibility Criteria for Hero Fincorp Personal Loan
To qualify for a Hero Fincorp Personal Loan, you must meet these requirements:
- Age: 21 to 58 years
- Minimum Salary: ₹15,000 per month (salaried individuals)
- Employment Type: Salaried professional
- Credit Score: 600+ CIBIL score (flexible for stable income)
- Nationality: Indian citizen
- Bank Account: Active savings account
- Aadhaar-Linked Mobile Number: Required for e-signing loan document
Documents Required for Hero Fincorp Personal Loan
The application process is simple with these essential documents:
- Aadhaar Card (for identity & address proof)
- PAN Card (mandatory for loan approval)
- Salary Slips (last 3 months)
- Bank Statements (last 6 months)
- Passport-Size Photo
- Aadhaar OTP Verification (for digital agreement signing)
Hero Fincorp Personal Loan Interest Rates & Charges
Before applying, understand the costs involved:
- Interest Rate: From 19% p.a. (varies based on profile)
- Processing Fee: 2.5% – 3.5% of the loan amount
- Late Payment Charges: Penalty on delayed EMIs
- Prepayment Fee: Applicable for early loan closure
- GST: 18% on processing fees
Pro Tip: Maintain a good credit score (650+) to negotiate better interest rates.
How to Apply for Hero Fincorp Personal Loan – Step-by-Step Guide
Follow these simple steps to get your loan approved:
- Visit the Official Website – Go to Hero Fincorp’s loan portal
- Click “Apply Now” – Select the Personal Loan option
- Enter Basic Details – Name, mobile number, email, and employment details
- Upload Documents – Submit scanned copies of Aadhaar, PAN, salary slips, and bank statements
- E-Sign Agreement – Verify via Aadhaar OTP
- Loan Approval – Receive instant approval notification
- Disbursement – Amount credited to your bank account within 24-48 hours