Hero FinCorp Home Loan for Salaried Person

Hero FinCorp Home Loan for Salaried Person is designed to offer ease and accessibility for purchasing residential or commercial properties, building a new home, or improving an existing one. With Hero FinCorp home loan eligibility for salaried person requirements, borrowers can access up to 50% more than typical loan amounts and potentially reduce monthly payments by up to 20%. The loans feature a long repayment period of up to 30 years, making instalments more affordable. To qualify, Hero FinCorp home loan criteria for salaried persons stipulate that applicants must be under 70 years old at the end of the loan term.

The application process is streamlined, requiring basic documentation such as proof of income, identity, and relevant property details. The Hero FinCorp home loan documents for salaried persons are straightforward, and the company's digital and customer-centric approach ensures quick processing. This Hero FinCorp housing loan eligibility for salaried persons caters to various profiles, helping more employees achieve their dream of homeownership.

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Written By
Utsah Sharma
Utsah Sharma
Utsah Sharma is a seasoned financial expert with a Master’s Degree in Commerce specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & Loan products. Drawing on her experience, she has established herself as a trusted voice, providing invaluable insights and guidance to seasoned investors and beginners. She is committed to breaking down the complexities of everything finance.
Reviewed By
Amit Prakash Singh
Amit Prakash Singh
Co-Founder, Square Yards & Chief Business Officer, Urban Money
Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

Hero FinCorp Home Loan for Salaried Person – Highlights

The key highlights of Hero FinCorp Home Loan for salaried persons are given in the table below:

Interest rate 9.50% p.a. onwards
Loan Amount Up to 5 crores
Loan Tenure Up to 30 years
Eligibility  Salaried individuals between 21 to 70 years of age

Hero FinCorp Home Loan for Salaried Person – Fees & Charges

The costs and fees related to the Hero FinCorp home loan for salaried individuals are given below:

Fee/Charge Amount
Processing fee Up to 3.5% of loan amount + applicable taxes
Foreclosure charges 5% of the loan amount + GST

Hero FinCorp Home Loan for Salaried Person – Documents Required

Here are the necessary documents for salaried persons seeking a Hero FinCorp Home Loan:

  • Verification of identity, age, and residence
  • Proofs of income (for salaried applicants only).
  • Information on existing loans
  • Documents related to the property (if the property has been identified)

Hero FinCorp Home Loan for Salaried Person – Eligibility Criteria

The Hero FinCorp housing loan eligibility for salaried persons are as follows:

Age limit criteria at loan maturity:

  • Salaried: Up to 70 years of age or until retirement, whichever comes first.
  • Self-Employed: Up to 75 years of age.

Minimum age requirements:

  • Applicants must be at least 21 years old to generate income.
  • General minimum age: 18 years old.

Maximum loan details:

  • Amount: Up to 5 Crores.
  • Tenure: Up to 30 years.

Frequently Asked Questions (FAQs)

What is the repayment term for a Hero FinCorp home loan for a salaried person?

The maximum repayment term for Hero FinCorp home loans for salaried persons is 30 years.

What is the minimum age for a Hero FinCorp home loan for a salaried person?

A salaried person must be at least 21 years old to apply for a Hero FinCorp home loan.

What is a salaried person's minimum and maximum Hero FinCorp home loan amount?

A salaried person can avail of a maximum Rs 5 crores home loan from Hero FinCorp.

Bank Wise Home Loan Interest Rate

Urban Money