Unsecured
Why pledge your assets for funds when we can provide you with a personal loan without any collateral? At Hero FinCorp, all that is required to obtain funds from us is a solid credit profile, a good income, and stable employment.
Personal Loan for Corporate Employees
As a corporate employee with a fixed salary, you are often on a tight budget. You must plan for everything, whether it be your household expenses or a trip to a new location. However, if a financial emergency arises in the meantime, dealing with it can be difficult. Hero FinCorp's personal loan for private employees can help you in handling such situations.
Features and Benefits of Personal Loan for Corporate Employees
Hero FinCorp's personal loan for private employees comes with a number of benefits. A few of them are explained here.
Eligibility Criteria for Personal Loan for Corporate Employees
If you are a salaried employee working at a reputable company, we expect you to meet the following criteria in order to receive immediate approval for a personal loan
Citizenship
You must hold Indian nationality
Age
Your minimum age should be 21 years. Your maximum age at the time of application must not be more than 58 years.
Work Experience
You must have been in continuous employment for six months with your current company.
Minimum Salary
Your income statement must show at least Rs 15,000 as your monthly salary.
Documents
PAN Card, Identity Proof, Address Proof, Salary certificate/ salary slip or recent bank statement (last six months) and Passport size photograph
How to Apply for a Personal Loan for Corporate Employees
As a corporate employee, you can apply for a personal loan online through our website or in person at our outlet or branch. The details of both these processes are listed below.
Online Process
- 01
Click here to complete the online application.
- 02
Upload your income proofs and basic KYC documents.
- 03
If your information meets our eligibility requirements, one of our representatives will contact you for the completion of the next steps.
- 04
After the entire process is completed, the funds will be credited shortly to your account.
Offline Process
- 01
Visit our outlet or connect with one of our DSAs.
- 02
Explain your funding requirements.
- 03
Fill out the loan application.
- 04
Submit the necessary documents.
- 05
If your details are satisfactory, you will receive an immediate approval for the loan.
Frequently Asked Questions (FAQs)
Yes, for a loan with Hero FinCorp, you can choose the repayment period as per your convenience. You will also get many flexible repayment options, ranging from 6 to 36 months. Use the personal loan for corporate employees' EMI calculator to determine what your optimal EMI should be and then finalise your repayment tenure for the loan.
Obtaining a personal loan without a credit record is difficult because the lender has no way of determining your credit behaviour. However, if you can arrange a collateral or include a co-applicant on your personal loan application, your chances of approval increase. Another solution is to first apply for a short-term consumer durable loan. Repaying such a loan on time will build a good credit score for you, which can be leveraged when applying for personal loans.
There are several factors that play a part in determining your personal loan interest rate. These include the following:
Your credit score
Your credit report remarks
Your work experience and employment status
Your salary
The credit report is prepared by the credit rating agency and includes information on your previous defaults (if any), loan settlements, number of hard enquiries, any EMI skips, and so on. Any negative remark on this report makes it difficult for you to secure a personal loan.
You may add a co-applicant to your personal loan application to get loan approval with an average credit score. The co-applicant must be financially stable, and you can introduce your spouse, parents, or friends as a co-applicant. However, remember that the co-applicant’s repayment obligation is similar to yours. Furthermore, even if you provide a co-applicant, it is still up to your lender's discretion whether to approve or deny your loan application.
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