Hero Fincorp Personal Loan

Key Features & Value Benefits

100% Digital Journey

Hassle-free, end-to-end paperless process with no physical paperwork required.

Real-Time Processing

Get your funds quickly with real-time approval and instant disbursement.

10-Day Cooling-Off Period

Borrowers get a 10-day cooling-off period where the loan can be cancelled with zero pre-closure charges.

Added Privileges

Multipurpose Use

Value: Flexible

Funds can be used for weddings, travel, medical emergencies, home renovation, or debt consolidation.

Flexible Repayment

Value: Up to 36 Months

Enjoy flexible repayment plans with tenures tailored for your convenience up to 3 years.

Eligibility Criteria

Age Bracket 21 to 45 Years

Min. Monthly Income ₹20,000 / mo

Employment Type Salaried and Self Employed

Credit Score Needed 750

750+ (New To Credit: Not Allowed)

Collateral / Security No

Guarantor Required No

General Terms: Available for both salaried and self-employed. Can be used for wedding, travel, medical emergency, home renovation, etc.

Detailed Eligibility Matrix

Age 21 to 45 years

Income Rs 20,000 / month

Credit Profile 750+ CIBIL

Occupation Salaried & Self-Employed

Fees & Other Charges

Charge Name	Standard Terms
Processing Fee	Standard — 2% to 5% (Up to 4.7% including GST)
Prepayment / Part-Payment	No pre-closure or cancellation charges if closed within the 10-day cooling period.
Foreclosure Charges	5% of outstanding principal. (If closed within 6 months: Interest of 6 months + foreclosure charges)
Late Payment Penalty	3% per month of overdue EMI (pro-rated for the number of days overdue)
EMI Bounce Charges	Rs. 350 per bounce

Additional Fee Schedules

Processing Fees: 2% - 5%

Up to 4% excluding GST (Up to 4.7% including GST).

Foreclosure Charges: 5%

5% of outstanding principal. Note: If closed within 6 months, you must pay 6 months of interest + the 5% foreclosure charge.

Late Payment Penalty: 3% per month

3% per month of the overdue EMI amount, pro-rated for the number of days overdue.

Bounce Charges: Rs. 350

Charged per instance of a bounced EMI payment or failed mandate.

Required Documents

PAN Card

Required for identity verification and credit checking.

Mandatory

Aadhaar Card

Required for KYC and digital address verification.

Mandatory

ID Proof: PAN card, Aadhaar Card