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.

Hero FinCorp Plot Loans – Highlights

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

Hero FinCorp Plot Loan Interest Rates

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

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:

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.