Hero FinCorp Plot Loans

Hero FinCorp is one of the major NBFCs in India providing excellent loan options carefully designed to meet the financial needs of customers. A Hero FinCorp Plot Loan enables individuals to purchase residential plots for construction purposes. These loans offer competitive interest rates, flexible repayment options, and quick processing, making it easier for customers to achieve their dream of owning land. This type of loan is ideal for those looking to invest in real estate or construct their own homes in the future.

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Table of Content

1. Hero FinCorp Plot Loans Highlights

2. Hero FinCorp Plot Loan Interest Rates

3. Hero FinCorp Plot Loan Fees and Charges

4. Hero FinCorp Plot loan Eligibility Criteria for Salaried

5. Hero FinCorp Plot loan Eligibility Criteria for Self-Employed

6. Hero FinCorp Plot loan Documents Required for Salaried

7. Hero FinCorp Plot loan Documents Required for Self-Employed

8. Features of Hero FinCorp Plot loans

9. Things to Remember while Applying for a Hero FinCorp Plot Loan

Written By

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

Piyush Bothra

Chief Financial Officer, Square Yards

Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

Hero FinCorp Plot Loans – Highlights

Key features of the Hero FinCorp Plot Loan is mentioned below:

Feature	Details
Maximum Loan Amount	Up to ₹ 3 crores
Interest Rate	9.50%* p.a. Onwards
Maximum Tenure of Repayment	Upto 30 years
Processing Fees	Up to 3% of the loan amount

Hero FinCorp Plot Loan Interest Rates

Hero FinCorp offers competitive interest rates for plot loans, making it an attractive option for potential borrowers.

Interest Rate

9.50%* p.a. Onwards

Hero FinCorp Plot Loan Fees and Charges

Hero FinCorp has a structured fee system for its plot loans. Below are the typical charges associated with these loans:

Fee Type	Amount
Processing Fees	Up to 3% of the loan amount
Initial Processing Fees	Upto Rs. 5000
Penal Interest	2% per month on overdue payment

Hero FinCorp Plot loan Eligibility Criteria for Salaried

Eligibility criteria for salaried individuals seeking a Hero FinCorp plot loan include:

Minimum age: 21 years
Maximum age at loan maturity: 70 years
Minimum work experience: 2 years
Stable employment with a reputable organization

Hero FinCorp Plot loan Eligibility Criteria for Self-Employed

Eligibility criteria for self-employed individuals are slightly different:

Minimum age: 21 years
Maximum age at loan maturity: 75 years
Minimum business continuity: 3 years
Proof of stable income and profitable business

Hero FinCorp Plot loan Documents Required for Salaried

For salaried individuals, the following documents are required:

Identity proof (Aadhaar, PAN)
Address proof (Utility bill, Passport)
Last 2 months salary slip
Latest year Form 16
Bank statements for last 3 months reflecting salary credits
Appointment letter with salary breakup if current employment is less than 1 year old
Bank statement reflecting last 6 months EMI payment

Hero FinCorp Plot loan Documents Required for Self-Employed

Self-employed individuals need to provide:

Identity proof
Address proof
Last 2 years Income Tax Return(ITR), Profit & Loss(P&L) and Balance Sheet
Latest 6-12 months bank statement of all active business accounts
GST Return for last 1 year
Bank statement reflecting last 6 months EMI payment

Features of Hero FinCorp Plot loans

Hero FinCorp plot loans come with various features:

Competitive interest rates
Flexible repayment options up to 30 years
Quick processing and disbursal within 48 hrs
High loan-to-value ratio
Minimal documentation and hassle-free process

Things to Remember while Applying for a Hero FinCorp Plot Loan

When considering a Hero FinCorp plot loan, keep the following points in mind:

Ensure all documents are in order to avoid delays.
Understand the Hero FinCorp plot loan interest rate and compare it with other lenders.
Check the processing fee and other charges.
Consider the eligibility criteria to ensure you qualify.
Evaluate the repayment capacity to avoid financial strain.