Digital Loan Application
You can apply for a self-employed Personal Loan online through our app.
PERSONAL LOAN FOR SELF EMPLOYED
Loan up to Rs.50,000
Minimum Salary Required ₹15K
Instant Approval
Personal Loan For Self Employed EMI Calculator
Get Personal Loan for Self-Employed Up to 5 Lakh
The Personal Loan for self-employed is an ideal funding option to expand business, repay debts, or cover working capital needs. Whether you are a start-up or a well-established firm, you can qualify for a self-employed Personal Loan at Hero FinCorp if you have a minimum experience of two years.
You can borrow an instant Personal Loan for self-employed from Rs 50,000 to Rs 5 Lakh to cover your personal or business expenses. The best thing is that these loans are collateral-free, which you can borrow without any security or guarantor. Repay the loan in a flexible term of 12 to 36 months without straining your monthly budget.
Features and Benefits of Personal Loan for Self-employed
If you are a businessperson looking for a Personal Loan, you can apply online through Hero FinCorp’s instant loan app for self-employed individuals.
Quick Verification
Our real-time KYC verification process ensures fast approval and disbursal.
Small Cash Loans
Our loan apps for self-employed offer up to Rs 5 Lakh with minimal documentation.
No Collateral
Hero FinCorp is one of the best loan apps for self-employed, offering collateral-free loans.
Affordable Interest Rates
You get loans at competitive rates when you apply for self-employed Personal Loan online.
Instant Disbursal
Once approved, the loans are directly credited to your bank account via the loan app.
Automated Repayment
Our auto-debit facility ensures timely EMI payments, simplifying your loan repayment process.
Eligibility Criteria for Personal Loan for Self-employed
When it comes to Personal Loan, Hero FinCorp is considered one of the best loan apps for self-employed Individuals. Here are the eligibility requirements.
Age Criteria
The applicant should be between 21-58 years
Citizenship
The applicant should be a citizen of India
Work Experience
At least two years of business experience
Minimum Income
Applicant should have a monthly income of Rs 15,000
Documents Required for Personal Loan for Self-employed
Here are the documents required to apply for a Personal Loan for self-employed individuals through our loan app, ensuring a smooth and quick application process.
Mandatory Documents
Filled loan application form, passport-sized photograph
Identity Proof
Driving Licence, Passport, PAN (mandatory), Aadhaar
Residence Proof
Driving Licence, Passport, Aadhaar, Ration Card, Utility Bill
Office Address Proof
Maintenance Bill, Utility Bill, Property Documents, Rent Agreement
Income Proof
6 months’ bank statement, 2 years’ ITR
Business Existence Proof
Tax Registration, Shop Establishment, Company Registration Certificate
Interest Rate and Charges for Personal Loan for Self-employed
When considering a Personal Loan for self-employed individuals, it's crucial to understand the interest rates and charges involved. Here's a concise overview of what you need to know:
How to Apply for a Personal Loan for Salaried Employees?
As Hero FinCorp, you can apply for a Personal Loan based on salary in two ways: online via our website and offline by visiting our branch or outlet.
Online Process
- 01
Visit the Hero FinCorp website or install the loan app
- 02
Go to the Personal Loan page and click ‘Apply Now’
- 03
Enter your mobile number and verify with the OTP received
- 04
Choose the loan amount you need
- 05
Verify your KYC details to check income eligibility
- 06
Click ‘Submit’ to complete your application
Offline Process
- 01
Visit a Hero FinCorp branch or a DSA office.
- 02
Describe your requirements.
- 03
Complete the offline application form.
- 04
Complete the required paperwork.
- 05
If your information is found to be satisfactory, you will receive an instant approval within minutes.
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Frequently Asked Questions (FAQs)
A self-employed can get an instant loan starting from 50,000- 5 lakh for his/her start-up company, if the eligibility criteria meets the lender’s terms and policy. A personal loan for self-employed is mainly for expanding their business.
A self-employed individual should earn a minimum income of Rs.15000 in an age between 21 - 58 years, verify net banking and KYC documents, mandatory to get a 50k loan for self-employed.
"Hero FinCorp instant personal loan app" is the best loan app for self-employed people. This online loan app offers a comprehensive digital lending platform with flexible payments and a low monthly interest rate of 1.58 percent. With basic qualifying requirements, it has served 99 serving sites.
Yes, self-employed persons with a minimum earning of Rs.15000 per month are eligible for a personal loan online.
Yes, you can easily get a personal loan when you are self-employed. On verification of the salary per month accompanied with a bank statement, a personal loan for self-employed can be completed.
Self-employed individuals looking for a personal loan online can simply download an instant personal loan app for a quick loan approval, within 24 hours.
The loan amount for self-employed borrowers differs from lender to lender. The Hero FinCorp instant personal loan app guarantees a sum of Rs. 50, 000 to 5 lakh to self-employed individuals in India..
: Processing of self-employed personal loans is quick, thanks to the paperless documentation nowadays on instant loan apps. It depends on the verification process of the application form and documents submitted. Once approved, the loan amount gets disbursed in 2 days.
Personal loans for self-employed are approved on criteria such as age, monthly income, work experience, and current business stability. Individuals between 21 to 58 years of age with a minimum income of Rs.15,000/- can apply for a self-employed personal loan
Personal loans for self-employed are approved on criteria such as age, monthly income, work experience and current business stability. Individuals between 21 to 58 years of age with a minimum income of 15,000/- can apply for a personal loan.
Identity proof, address proof, proof of business and income proof are required. Keep ready your Aadhar Card, PAN Card, IT return papers and last 6months bank statement.
Processing of personal loan is quick, thanks to the paperless documentation nowadays on instant loan apps. It depends on the verification process of the application form and documents submitted. Once approved, the loan amount gets disbursed in 2 days.