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Hero FinCorp Business Loan
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Hero FinCorp Business Loan
Interest Rate
Up to 26%
Loan Amount
₹5L - ₹40L
EMI Per Lakh
₹2,994
Processing Fees
Pre-Payment Charges
Features and Benefits of Hero FinCorp Business Loans
Along with easy Hero FinCorp business loan online application facilities, there are many other benefits for customers. They include the following:
- Unsecured loans with quick and minimal documentation.
- Fast approval within just 48 hours.
- Flexible tenures up to three years.
- Attractive and low rates of interest.
- Quick turn-around time for sanctioning loans.
- Pre-approved business loans.
- Loans between Rs. 5-25 lakh.
- Flexible tenures up to 36 months for repayment.
Hero FinCorp Business Loan Overview
You can easily apply for Hero FinCorp business loans at attractive rates of interest. Unsecured business loans are sanctioned between Rs. 5-25 lakh with tenures up to 36 months. The NBFC aims at being a partner for businesses in aiding their future growth requirements with quick and readily available loans, minimal paperwork/documentation and approval of requests within 48 hours.
Along with an easy Hero FinCorp business loan online application procedure, B2B service providers, traders, manufacturers, wholesalers, distributors and retailers can apply for and avail of these unsecured loans with multiple repayment options such as NACH, PDC, Cash and ECS. The financial institution offers term loans and LOC (line of credit) facilities.
Documents Required for Hero FinCorp Business Loans
The documents required include the following:
- KYC documents like the PAN card, address proof and identity proof.
- Business documents like audited financial statements and documents of the company, GST returns, and bank statements for the last six months and the list of shareholders and directors.
- Business continuity proof (GST/tax registration).
- Income proof and proof of signature.
How the EMI calculation works for Hero FinCorp business loans
The EMI calculation is done using the tenure, interest rate and loan amount. You can use an online calculator for entering these three fields and working out the payable EMI amount every month. The interest rate is calculated through either the flat rate method (Interest = Principal х Interest Rate х Repayment Duration / 100) or the diminishing rate method (Loan EMI = P x r x (1+r) n / (1+r) n-1). Here R refers to the rate of interest, P is the loan amount and N is the tenure of the loan.
How Hero FinCorp compares with other lenders?
Name of Financial Institution | Annual Interest Rate | Maximum Loan Amount | Tenure for Repayment (in months) |
Kotak Mahindra Bank | 14% onwards | 75 lakh | 6 – 48 |
HDFC Bank Business Loan | 16% onwards | 50 lakh | 12 – 48 |
Axis Bank Business Loan | 17% onwards | 30 lakh | 12 – 36 |
Fullerton Finance | 17% onwards | 50 lakh | 12 – 48 |
Bajaj Finserv | 17% onwards | 45 lakh | 12 – 60 |
ICICI Bank Business Loan | 18% onwards | 40 lakh | 6 – 48 |
IIFL Finance | 18% onwards | 50 lakh | 12 – 36 |
Tata Capital Finance | 17% onwards | 50 lakh | 12 – 48 |
RBL Bank | 19% onwards | 50 lakh | 12 – 36 |
IDFC First Bank Business Loan | 20% onwards | 90 lakh | 12 – 48 |
HDB Financial Services Ltd. | 22% onwards | 30 lakh | 12 – 36 |
Hero FinCorp Business Loan Customer Care Number
Retail customers should contact 1800-102-4145 or email customer.care@heroFinCorp.com. Corporate customers can contact 1800-103-5271 or email corporate.care@heroFinCorp.com.
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Hero Fincorp Quick Links
FAQs
From refinancing to reducing your interest, we have the answers right here.
How can I speed up my loan approval?
- You can apply online and maintain a good credit score.
- Maintain a proper bank balance and show all income sources.
- Keep the ratio of debt to income on the lower side.
- Provide all the documents in an accurate manner.
- Emphasize your relationship with the bank/lender.
What is loan foreclosure?
How much EMI do I have to pay for a business loan?
What is the minimum turnover requirement for a business loan?
Who can take a business loan?
Does Hero FinCorp provide business loan at the best rate?
What are the benefits Hero FinCorp offers on business loans?
- Loans between Rs. 5-25 lakh.
- Flexible repayment tenures up to 36 months.
- Minimal documentation with fast approvals in 48 hours.
- Unsecured business loans with multiple repayment options.
Does Hero FinCorp have a fixed rate of interest on a business loan?
What are the documents required in Hero FinCorp for a business loan?
- PAN Card and Application Form.
- Identity and Address Proof Documents.
- Business Continuity Proof (GST or other tax documents along with trade license/copy of partnership deed).
- Income proof.
- Signature proof.
How to apply for a business loan in Hero FinCorp online?
- Check the eligibility criteria.
- Apply online or email at corporate.care@heroFinCorp.com or call this number- 1800-102-4145.
- You will then have to provide KYC and other documents.
- You can then select the amount and tenure along with completing other formalities.
- View the terms and conditions before accepting the same.
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