3 Lakh Emergency Loan for 1 Year
Rs 26,514*
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Emergency Loan EMI Calculator
An emergency loan EMI calculator is a free-to-use online tool that makes the EMI calculation much easier and faster than the manual method. Just enter the loan amount, interest rate, and repayment term in the online calculator, and the tool will display the results in a flash second. Based on the results, you can adjust the loan amount or repayment tenure until you find a favourable repayment scheme.
Apply for Instant Emergency Loan
An emergency Personal Loan is the best funding option for those who need urgent cash. Whether you require instant cash for a critical home repair, a medical emergency, a last-minute wedding expense, or a spontaneous vacation plan with friends, borrow an emergency Personal Loan to cover the costs and pay it back in easy EMIs. Hero FinCorp is the best place to borrow an emergency loan of up to Rs 5 Lakh without usage restrictions (legal purposes only) and collateral.
EMI for Emergency Personal Loan for Tenures of 3 Years
Feeling concerned about the EMI amount is obvious when you apply for a Personal Loan for any emergency. At Hero FinCorp, you can rest assured that the EMI amount will be reasonable according to your eligibility and repayment capacity. However, the final EMI amount depends on your loan amount, interest rate, and repayment tenure. For instance, if you borrow an urgent money loan of Rs 3 Lakh at 19% p.a interest rate, your EMIs for various loan terms would be as follows:
Features and Benefits of an Emergency Loan
Do you need an emergency loan from Hero FinCorp? Know the features and benefits before applying:
High Loan Amount
At Hero FinCorp, you can obtain immediate emergency loans of up to Rs 3 Lakh with minimum documentation. That means once you borrow the loan, you can use it for any legal purpose, be it a wedding, medical emergency, education, travel, or home renovation.
Attractive Interest Rate
The Personal Loan interest rates are reasonable at Hero FinCorp. We offer the most competitive interest rates based on your loan eligibility, repayment capacity, and credit history. The more credible you are, the lower the interest rate offer you can grab.
Collateral-Free
You don't need to pledge any asset as collateral, deposit security, or get a guarantor's signature to obtain a Personal Loan for emergency at Hero FinCorp. Our Personal Loans are 100% collateral-free, making them easily accessible without hassle or additional formalities.
Flexible Repayment Tenure
When you borrow a Personal Loan at Hero FinCorp, you get a repayment term of up to 60 months to pay off the loan. The EMIs remain affordable with a long repayment tenure, while a shorter term saves money on the interest cost. You are free to choose a loan term according to your monthly repayment capacity.
Instant Approval
Hero FinCorp is the best place for urgent emergency loan approval. When you need money instantly, follow our 100% digital application procedure to get quick approval and disbursal in a few hours.
Eligibility Criteria For Emergency Personal Loan
Want to know if you are eligible for an emergency loan approval in minutes at Hero FinCorp? Ensure you fulfil these eligibility conditions to qualify:
Age
You must be 21 to 58 years old at the time of application.
Citizenship
You must be a resident Indian citizen.
Work Experience
If you're salaried, you should have at least 1 year of experience with at least 6 months in the current company. Self-employed should have a work experience of at least 2 years.
Monthly Income
You should have a minimum monthly income of Rs 15,000 to qualify for a Personal Loan at Hero FinCorp.
Documents Required For Emergency Loan
At Hero FinCorp, you don't need to worry about the hefty documentation procedures and multiple branch visits. You can scan and upload the required documents online through our website or loan app. However, the documentation requirements vary for salaried and self-employed applicants. You must be aware of them before applying for an instant emergency loan online:
Documents Required Salaried Employee
Mandatory Documents
Duly filled loan application form Passport-size photograph (coloured)
Identity Proof
Driver’s licence, passport, PAN card, or Aadhaar card
Address Proof
Driver’s licence, passport, Aadhaar card, ration card, or utility bill
Ownership Proof
Residence ownership proof, like electricity bills, maintenance bills, or property documents
Income Proof
Last six months' salary slips, the previous six months' salary account statement, and Form 16 Job continuity proof, like an appointment letter from the current employer or experience certificate from the previous employer
Documents Required Self-Employed Individual
Mandatory Documents
Duly filled loan application form Passport-size photograph (coloured)
Identity Proof
Driver’s licence, passport, PAN card, or Aadhaar card
Address Proof
Driver’s licence, passport, Aadhaar card, ration card, or utility bill Office address proof, like maintenance bills, utility bills, property documents, or rent agreement
Ownership Proof
Business existence proof, like a copy of tax registration, shop establishment proof, or company registration certificate
Income Proof
Last six months' bank statements and ITR for the previous two consecutive years
Interest Rate on an Instant Emergency Loan
When you borrow an urgent money loan, knowing the additional charges is important. Instant access to funds should not cost you dearly. Hero FinCorp has a transparent fee structure that involves the following costs without any hidden charges:
How to Apply for an Emergency Loan?
Are you planning to apply for an instant emergency loan online with Hero FinCorp? Here is a stepwise guide:
- 1
Click on the 'Apply Now' button on the Personal Loan page of the Hero FinCorp website
- 2
Fill out an online application form
- 3
Enter your KYC details
- 4
Submit the necessary documents
- 5
Wait for the verification online
- 6
Once approved, get your loan offer
- 7
Accept the loan offer and get instant loan disbursal
Frequently Asked Questions (FAQs)
An emergency loan is an urgent loan approved quickly by Hero FinCorp to help you cover various urgent expenses.
The loan amount you can borrow depends on the lender’s policy. At Hero FinCorp, you can take an instant emergency loan online of up to Rs 3 Lakh.
You can choose a loan term of up to 36 months to repay your medical emergency loan.
A medical emergency loan is suitable to cover various medical expenses, including hospitalisation, doctor’s fees, medication, physiotherapy, surgery, rehabilitation, medical equipment, and other related costs.
Use the mathematical formula to calculate the EMIs manually or a Personal Loan EMI calculator online to calculate automatically.
Any Indian citizen aged 21-58 fulfilling the eligibility criteria can apply for an urgent Personal Loan at Hero FinCorp.
You may calculate your emergency loan EMIs both online and offline. The mathematical formula to calculate the EMIs is:
EMI = [P x R x (1+R)^N] / [((1+R)^N)-1)]
Here, P is the principal amount, r is the interest rate, and n is the number of months in the loan tenure. Enter these three variables in the formula to calculate the EMIs. If you want to save time, reduce the chances of errors, and make the process easier, use the EMI calculator on our website to calculate the EMIs before applying for an emergency loan online.
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