The ongoing Covid-19 pandemic has brought unprecedented uncertainty on public health and financials. During such turbulent times, a loan, especially a personal loan, is considered a great financial help to manage urgent financial requirements. Due to the innovation in digital media, various financial institutions developed their independent personal loan apps and lending platforms for instant loan processing.
However, there are certain pre-requisites before you can plan and apply for a personal loan online. The main criterion is to get your personal loan eligibility calculated using the personal loan eligibility calculator which is freely available online on most loan platforms. This calculator is an analytical tool which has been developed to help a borrower to calculate their loan eligibility and also to compare the various personal loan options available online. This enables you to select the best personal loan, based on your eligibility and financial needs. Once your eligibility criteria are met, you can be assured of quick approval and loan sanction within a matter of 24 working hours.
HeroFinCorp is one such user-friendly fully digitized personal loan app, powered by HeroFinCorp, where you can avail of instant personal loans between Rs.50,000 to Rs.1,50,000. The loan amount is directly credited to the borrower’s bank account on verification of the eligibility criteria.
HeroFinCorp Pre-Approved Personal Loan Eligibility Criteria
Salaried Borrowers
- Proof of Indian citizenship
- Age should be between 21-58 years
- Check EMI using the EMI calculator
- Be clear on the required loan amount that can be repaid easily
- Enter your particulars like city, date of birth, monthly income, etc.
- The minimum monthly salary should be Rs.15,000
- Job and income stability is compulsory for getting the required loan amount
- Six months’ bank statement for a salaried individual
- A Salaried individual should be working for either a private or public sector
KYC documents like PAN card and Aadhar Card are mandatory
Self-Employed Borrowers
- Proof of Indian citizenship
- Age should be between 21-58 years
- Income tax returns should be filed for at least 2 years
- Proof of business
- Stability in business and professional experience required
- The minimum monthly income should be Rs.15,000
- Major financial statements/Bank statements for the last six months
- KYC documents like PAN card and Aadhar Card, etc.
After all the mandatory details have been entered and submitted with the personal loan application, a real-time verification states whether a borrower is eligible for the personal loan or not. In case, some documents are missing or incorrect you will be prompted to rectify the same to complete the process correctly.
How to use the Personal Loan Eligibility Calculator on HeroFinCorp?
- Download theloan app from Google Play Store
- Register with your mobile number and email address
- The online loan EMI calculator will guide how to calculate an EMI to check whether it is affordable for a borrower or not
- E-KYC verificationis conducted via a paperless mode byproviding a security code
- Verification of bank account is then doneviathe net banking process. It ensures the full safety of your personal particulars throughout the application process.
- Instant loan gets approvedwithin minutes of verifying the submitted details
