A financial crunch is something most people will have to deal with, but only a few have readily available money to spend on planned or unplanned expenses. Fortunately, NBFCs like Hero FinCorp offer instant Personal Loans of up to ₹ 3 Lakh with minimum KYC. You can cover various financial needs with these loans without submitting many personal loan documents for application. Whether you are self-employed or a salaried individual, Hero FinCorp’s Instant Personal Loan App really is among the fastest instant loan apps to help meet your financial needs.
When used responsibly, a Personal Loan can be a great medium to improve your credit and control your financial future. Struggling borrowers can also benefit from them by getting their credit rating back on track. However, before applying, keep your essential documents ready – such as Aadhaar card, PAN card, and other KYC details. Download the loan app now and start the online application procedure from your smartphone.
Documentation Requirements for Hero FinCorp Personal Loans
The Hero FinCorp Instant Personal Loan App requires minimal KYC documents to verify your details and process the application. Since documentation requirements are different for salaried and self-employed applicants, here’s an overview you must be aware of:
- Application form with relevant details
- Coloured passport-sized photograph
- Identity Proof, including a driving license, passport, PAN card, Aadhaar card, etc.
- Residence Proof, including driving license, passport, Aadhaar card, ration card, utility bill,
- Residence or Office Ownership Proof, like maintenance bills, electricity bills, or property documents
- Job Continuity Proof, like the current employer’s appointment letter or the previous employer’s experience certificate
- Income Proof for salaried employees, including last six months’ salary slips and bank account statements and Form 16
- Business Existence Proof for self-employed individuals, like a copy of Tax Registration, Shop Establishment Proof, Registration Certificate, etc.
- Income Proof for self-employed individuals, like the last six months’ bank statements, previous two years’ ITR, etc.
Benefits of Hero FinCorp Personal Loans with Minimal KYC
Hero FinCorp has one of the fastest instant loan app designed to evaluate loan applications within minutes. The entire loan process is 100% digital and paperless, facilitating approvals much quicker than conventional means. Here are a few advantages of obtaining a Hero FinCorp Personal Loan with minimal KYC:
- Hassle-Free: Paperless Personal Loan application procedures are completely hassle-free and do not require hefty paperwork, frequent branch visits, or filling form after form. Loan seekers can apply for the necessary funding from the comfort of their homes with just a few clicks.
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- Time-Saving: The entire loan process, from approval to disbursal, is online, saving fuel and time required for repeated branch visits and manual form filling. With minimal human intervention, the loan app approves loans in the shortest possible duration.
- Confidentiality of Information: Digital lending apps undergo strict security measures to keep the applicants’ information private and confidential.
- Quick Verification: Since the app processes Personal Loan documents online, the verification process becomes easier, and the approval comes faster.
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- Collateral Free: Since Hero FinCorp Personal Loans are unsecured, there are no collateral-related formalities, making disbursal easy and instant.
- No Physical Interaction: Efficient processing driven by technology is one of the biggest benefits of minimum KYC. Borrowers can complete each step online with no human intervention.
Things to Keep in Mind
- Basic KYC Personal Loan Documents are Still Necessary
Although Hero FinCorp has a 100% paperless process, some KYC Personal Loan documents are still necessary, including PAN card, Aadhaar card, identity proof, address proof, and income proof. So, ensure keeping these documents ready before applying for a loan.
- A Good Credit Score Makes the Process Easier
While minimal documentation is required for Hero Fincorp Personal Loan applications, they still check your credit rating to evaluate your creditworthiness. A higher credit rating improves your chances of getting an easier loan approval at lower interest rates and better terms and conditions. So, ensure you are building a good credit score to avoid rejection. However, Hero Fincorp also provides financial assistance to borrowers who may not have an ideal credit score, subject to terms and conditions.
- Arrange Alternative Documents
Provide alternative personal loan documents to ease the verification process if a particular document is unavailable. For instance, if you don’t have salary slips or IT returns, Form 16 will be an alternative income proof.
Tips to Obtain a Personal Loan with Minimum KYC
- Always pay your EMIs and credit card bills on time to build a good credit score.
- Pay off current financial obligations to reduce the DTI ratio.
- Reduce credit card usage to bring the credit utilisation rate down.
- Mention all your income sources to showcase a solid repayment capacity.
Get an Instant Loan at Hero FinCorp With Minimum KYC Documents
With Hero FinCorp, you can obtain your Personal Loan with minimum KYC documents within minutes. Moreover, the loan terms are flexible, and you are free to use the loan amount for any purpose you want. Plus, Hero FinCorp is the fastest instant loan app that lets you repay the loan in EMIs with a tenure of up to 60 months.
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