Hero FinCorp
Hero FinCorp Instant Personal Loan
An NBFC loan of ₹50,000–₹7 lakh over 12–36 months for salaried and self-employed earners from ₹15,000 a month, priced from 17.9% with a fee of at least 2.5% and a 5% foreclosure charge.
- 17.9% to 30% a year
- ₹50,000 to ₹7 lakh
Rates and charges
- Interest rate
- 17.9% to 30% a year
- Processing fee
- At least 2.5% of the loan amount + GST, deducted at disbursal; no maximum is published
- Foreclosure
- Up to 5% + GST on outstanding principal
- Part-prepayment
- Unclear: Hero FinCorp's pages don't agree on whether you can part-prepay or what it costs. Check the Key Fact Statement.
What ₹1,00,000 for 12 months would cost
| At | EMI | Interest | Fee + GST | Total cost |
|---|---|---|---|---|
| Lowest rate (17.9%) | ₹9,163 | ₹9,959 | ₹0 | ₹9,959 |
| Highest rate (30%) | ₹9,749 | ₹16,985 | ₹0 | ₹16,985 |
Uses the published rates with no processing fee plus 18% GST. Try your own numbers in the EMI calculator.
Loan terms and eligibility
- Loan amount
- ₹50,000 to ₹7 lakh
- Tenure
- 1 year to 3 years
- Who can apply
- Salaried and Self-employed
- Minimum income
- ₹15,000 a month
- Age
- 21–58 years; you must be 58 or younger when the loan ends
- Disbursal (lender's claim)
- Approval in about 10 minutes and money in 24–48 hours; some of its pages say the same day
- Who lends
- Hero FinCorp itself
- RBI digital lending apps directory
- Listed (as reported by the lender)
Apply with Hero FinCorp
Apply nowVia our referral partner. We may earn a commission.CreditParakh is not a bank or lender and doesn't guarantee approval. Approval is at the bank's or lender's discretion. The lender decides your rate, amount and approval.
Work out your EMI with Hero FinCorp's rates
Prefilled with Hero FinCorp's lowest published rate. Change any number to match your offer.
Your loan
- Monthly EMI
- ₹9,163
- Total interest
- ₹9,959
- Processing fee + 18% GST
- ₹2,360
- Total cost of the loan
- ₹12,319
- Effective annual cost
- 22.52%
- Money in hand
- ₹97,640
- You pay back in 1 yr
- ₹1,12,319
Total cost = interest + processing fee + GST. Effective annual cost is the yearly rate you really pay on the money in hand, the way lenders work out the APR in a Key Fact Statement.
Same loan, different tenures
| Tenure | EMI | Total interest | Total cost (incl. fee + GST) | Effective annual cost |
|---|---|---|---|---|
| 12 months (yours) | ₹9,163 | ₹9,959 | ₹12,319 | 22.52% |
| 24 months | ₹4,988 | ₹19,702 | ₹22,062 | 20.38% |
| 36 months | ₹3,610 | ₹29,968 | ₹32,328 | 19.63% |
| 48 months | ₹2,932 | ₹40,749 | ₹43,109 | 19.25% |
| 60 months | ₹2,534 | ₹52,034 | ₹54,394 | 19.02% |
A longer tenure lowers the EMI but raises the total interest. A fixed fee costs more per year on a short loan.
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Questions people ask
What interest rate does Hero FinCorp Instant Personal Loan charge?
Hero FinCorp publishes 17.9% to 30% a year. The rate you're offered depends on your credit score, income and the lender's own checks, and is usually above the starting rate.
What is Hero FinCorp's processing fee?
At least 2.5% of the loan amount + GST, deducted at disbursal; no maximum is published. GST at 18% is added to the fee.
Who actually gives the loan?
Hero FinCorp lends from its own books; it is a non-bank lender (NBFC) regulated by the RBI.
Is Hero FinCorp registered with RBI?
The Hero FinCorp Personal Loan App app is listed in RBI's directory of digital lending apps, as reported by Hero FinCorp Limited. The directory shows what lenders report; RBI doesn't vouch for the app. Hero FinCorp is regulated by RBI as an NBFC.
Can I close or prepay a Hero FinCorp loan early?
Closing early: Up to 5% + GST on outstanding principal. Part-prepayment: Unclear: Hero FinCorp's pages don't agree on whether you can part-prepay or what it costs. Check the Key Fact Statement.
Who can apply for a Hero FinCorp personal loan?
Salaried and self-employed applicants. Minimum income ₹15,000 a month. Age: 21–58 years; you must be 58 or younger when the loan ends. Approval is at the lender's discretion.
How much does a ₹1,00,000 loan from Hero FinCorp cost?
Over 12 months at the lowest published rate, about ₹9,959 in interest and fees; at the highest published rate, about ₹16,985. Your EMI depends on the rate you're offered.
Related guides
- True Cost of a Personal Loan: Fees and APRWhat a personal loan really costs: flat vs reducing rate, processing fee and GST, APR in the Key Fact Statement, foreclosure and penal charges.
- CIBIL Score: Check Free, Improve in 90 DaysCheck your CIBIL score free with one full report a year from each bureau, dispute errors yourself, and build a better score with a 90-day checklist.
- True cost of a ₹1 lakh loan at every lenderInterest, processing fee and GST, side by side
Last verified 18 Oct 2026 on Hero FinCorp's official page. Rates and fees change; check the lender's terms before you apply.