Hero FinCorp Personal Loan


Hero FinCorp offers personal loans for various purposes, including home renovation, family functions, weddings, travel, shopping, and urgent medical treatments. The loan amount varies from INR 50,000 to INR 5 lakhs. The loan disbursement process is quick once the required documents have been submitted. Hero FinCorp offers flexible tenures and easy repayment options with no hidden charges and competitive interest rates. 

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Hero FinCorp Personal Loan

  • Interest Rate

    Up to 25%

  • Loan Amount

    ₹50K - ₹5L

  • EMI Per Lakh


  • Processing Fees

    2.5% of the loan amount + applicable taxes
  • Pre-Payment Charges


Features and Benefits of Hero FinCorp Personal Loans

  • Loan amounts up to INR 5 lakh. 
  • Quick loan process and lower rates of interest. 
  • Minimal documentation and instant approvals. 
  • Flexible loan tenures and convenient repayment options. 
  • Zero hidden costs. 
  • Easy apply options for personal loans. 
  • Prompt and responsive customer support.

Hero FinCorp Personal Loan Overview

You can easily apply for Hero FinCorp personal loans at attractive rates of interest. Hero FinCorp offers easily attainable personal loans that you can use to meet varying needs and requirements with aplomb. Personal loans are unsecured loans, i.e. those not secured by collateral, which people take for various reasons. Some of these reasons include home renovation or repairs, wedding expenses, expenses for higher education, medical costs, buying gadgets, or even taking vacations among others. Personal loans come with faster processing, especially at NBFCs like Hero FinCorp and require lesser time for disbursal in comparison to many other loans.

Hero FinCorp Personal Loan Fees and Charges

The bank charges processing fees of 2.5% of the loan amount along with taxes that are applicable.

Hero FinCorp Personal Loan Interest Rates

While choosing Hero FinCorp personal loan apply online options, you should check out the rate of interest. Customers are charged competitive rates going up to 25% as a maximum threshold. 

Factors affecting Hero FinCorp Personal Loan Interest Rates

Before taking the Hero FinCorp personal loan online apply option, make sure that you are eligible and also check the interest rates carefully. They are influenced by the following factors: 

  • Loan Amount
  • Tenure of the Loan 
  • Your Age
  • Your credit score and repayment track record
  • Your income and liabilities 
  • Nature of your employment
  • Status of your employer

Documents Required for Hero FinCorp Personal Loan

The documents required for Hero FinCorp personal loan include the following:

KYC documents like address and identity proof PAN Card
A passport-size photograph Bank statements or salary slip for last 6 months

How the EMI calculation works for Hero FinCorp personal loans?

The personal loan may be calculated with an EMI calculator where you enter the loan amount, tenure and rate of interest to arrive at the final figure. You can also use this formula for calculating your personal loan EMI- 

 [P x R x (1+R)N] / [(1+R)(N-1)]

Here, P indicates the principal amount of the loan, R is the monthly interest rate and N is the loan tenure. 

How Hero FinCorp compares with other lenders?

Hero FinCorp offers maximum personal loans up to Rs. 5 lakh with interest rates up to 24%. Here are details of some other lenders. 

Name of the Financial Institution  Rate of Interest  Maximum Loan Amount
Mahindra Finance Varies  Up to Rs.3 lakh
HDB Financial Services Varies Up to Rs.20 lakh
Tata Capital 10.99% onwards Up to Rs.35 lakh
Aditya Birla Capital 11% - 13.75% p.a. Up to Rs.50 lakh
IIFL Finance 11.75% - 34% p.a. Up to Rs.25 lakh

At the same time, ICICI Bank and Kotak Bank have interest rates of 10.75% each while the same rate is charged by HDFC Bank as well. Axis Bank charges 12% as its rate of interest on personal loans. These are only starting rates and may vary depending upon eligibility and other conditions.

Hero FinCorp Personal Loan Customer Care Number

The customer care number (toll free) is 1800 102 4145. 


From refinancing to reducing your interest, we have the answers right here.

Can I switch to floating rate from a fixed rate during my loan tenure?

If you are sure about rates of interest increasing in the near future and want to lock in your loan at the current rate, you can change to a fixed rate of interest from a floating interest rate or vice versa. You have to pay a small charge for this purpose.

Is opting for a personal loan worth it?

You can always choose a personal loan for meeting sudden needs and exigencies and use the money for various purposes while conveniently paying off the loan amount as per your income and the loan tenure. The fund usage is not limited here and that is the biggest advantage. The loan process is also faster than many other loan types.

When does the personal loan repayment period start?

The personal loan repayment starts from the month after the one in which the personal loan amount has been disbursed.

Can I reduce my personal loan tenure in case of rate hike?

Yes you can lower your personal loan tenure by making a pre-payment which will automatically reduce the loan tenure, should you choose to keep your EMI amount intact.

What is the minimum salary for a personal loan?

The minimum salary is Rs. 15-20,000 per month for availing of a personal loan although there is no official limit.

What is the interest rate of a personal loan in Hero FinCorp?

The interest rate is up to 24% Hero FinCorp.

What are the benefits Hero FinCorp provides on personal loan?

Some of the benefits include competitive interest rates, minimal documentation and quick processing along with flexible loan tenures. Other benefits include loan amounts up to INR 5 lakh and convenient repayment options.

Does Hero FinCorp have a fixed rate of interest on a personal loan?

Yes, the final interest rate is fixed for the customer who avails of a personal loan and it is not like a floating interest rate on a home loan. However, the overall interest rate spectrum is flexible, with maximum rates going up to 24%.

What are the documents required in Hero FinCorp for a personal loan?

The documents required for personal loans at Hero FinCorp include identity and address proof along with PAN Card, salary slips/bank statements for 6 months, and a passport-size photograph.

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