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Hero FinCorp, a leading NBFC under the Hero Group since 2016, offers home loans through its subsidiary Hero Housing Finance Ltd. for buying, constructing, renovating, or extending residential properties up to ₹5 crore with up to 90% financing. As of October 2025, Hero FinCorp home loan interest rate starts at 9.50% p.a. for eligible salaried borrowers with CIBIL 750+, rising to 11% p.a. or higher for self-employed, with tenures up to 30 years for salaried and 20 years for self-employed. It supports PMAY subsidies up to 6.50% for EWS/LIG, balance transfers with top-up options, and quick digital approvals in 5-10 days, ideal for middle-income families earning ₹15,000+ monthly seeking ₹10-50 lakh loans.
|
Feature |
Details |
|
Interest Rate |
Starts at 9.50% p.a. (up to 11% p.a. based on CIBIL and profile) |
|
Processing Fee |
Up to ₹5,000 + GST (or up to 1-2% of loan amount) |
|
Loan Amount |
₹10 lakh to ₹5 crore (90% LTV for ≤₹30 lakh properties) |
|
Repayment Tenure |
Up to 30 years (salaried); 20 years (self-employed) |
|
Applicant Age |
18-70 years (salaried up to retirement; self-employed up to 75) |
|
Approval & Disbursal Time |
5–10 working days (48 hours approval possible) |
|
Prepayment Charges |
Nil for floating rate loans |
|
Eligibility (Salaried) |
₹15,000+ monthly; 6 months in current job; CIBIL 650+ |
|
Eligibility (Self-Employed) |
2 years business; ₹2 lakh+ annual ITR; CIBIL 650+ |
Hero FinCorp home loan interest rate is floating, linked to the company's internal benchmark (RBI repo at 6.50% as of October 2025), with spreads based on CIBIL, income, and PMAY status—starting at 9.50% p.a. for salaried with 750+ scores on loans ≤₹30 lakh, up to 11% p.a. for self-employed or balance transfers. PMAY-CLSS offers 6.50% subsidy on ₹6 lakh for EWS/LIG (income <₹3 lakh/year), reducing effective rate to ~3%; women get 0.05% concession. Daily reducing balance applies, with no prepayment penalty on floating rates.
|
Borrower Category |
Interest Rate |
Max Rate |
Key Influencing Factors |
|
Salaried (CIBIL ≥750) |
9.50% |
10.50% |
Stable job, ≤₹30 lakh loan, PMAY eligibility |
|
Self-Employed Professionals |
10.00% |
11.00% |
ITR consistency, 2+ years business |
|
Balance Transfer/Top-Up |
9.75% |
10.75% |
Existing repayment history, add-on ≤20% |
|
PMAY EWS/LIG/MIG |
9.50% (effective ~3%) |
10.00% |
Income <₹18 lakh, property ≤₹45 lakh |
|
Bank |
Starting Rate (p.a.) |
Processing Fee |
Max Tenure |
|
Hero FinCorp |
9.50% |
Up to ₹5,000 |
30 years |
|
State Bank of India (SBI) |
7.50% |
Up to 0.35% |
30 years |
|
HDFC Bank |
8.15% |
0.5%–1% |
30 years |
|
ICICI Bank |
8.75% |
0.5%–1% |
30 years |
For a ₹30 lakh loan over 20 years at 9.50%, EMI is ₹25,800—₹3,000 higher monthly than SBI's 7.50%, but PMAY subsidy saves ₹2 lakh+ for LIG, and quick 48-hour approvals suit urgent needs.
Hero FinCorp home loan calculator at herofincorp.com/loan-interest-calculator integrates PMAY subsidies—input amount, rate (9.50%-11%), tenure for EMI, amortization, and tax benefits (₹1.5 lakh u/s 80C + ₹2 lakh u/s 24b).
Loan Amount: ₹30 lakh
Interest Rate: 9.50% p.a.
Tenure: 20 years
|
Monthly EMI |
Total Interest Payable |
Total Amount Payable |
|
₹25,800 |
₹31.92 lakh |
₹61.92 lakh |
Reduce to 15 years: EMI ₹29,400, saves ₹9 lakh interest; PMAY adds ₹2 lakh subsidy for MIG.
|
Charge Type |
Amount |
|
Processing Fee |
Up to ₹5,000 + GST (or 1-2%) |
|
Legal & Valuation Fee |
₹3,000–₹5,000 |
|
CERSAI Registration |
₹500 |
|
Stamp Duty (MODT) |
0.1%–0.3% (state-specific) |
|
Prepayment (Floating Rate) |
Nil |
GST at 18%. Total <2%; waived elements for PMAY.
● Age: 18–70 years (up to retirement)
● ₹15,000+ monthly net income
● 6 months in current job
● CIBIL: 650+
● Age: 21–75 years
● 2 years business
● ₹2 lakh+ annual ITR
● Property: Clear title, approved plans
90% LTV for PMAY; co-applicants boost limits.
|
Service |
Contact Details |
|
Toll-Free Helpline (24x7) |
1800 102 4145 / 1800 212 8800 |
|
Email for Queries |
customercare@herofincorp.com |
|
Grievance Redressal |
nodal.officer@herofincorp.com |
|
Branch Hours |
9:30 AM–6:30 PM (Mon-Sat) |
Download RCSA app or visit herofincorp.com/track-loan with application no./mobile OTP—view stages: Submitted, Verified, Sanctioned, Disbursed. Or call 1800 102 4145/SMS "STATUS [Ref No.]" to registered mobile; email updates within 24 hours.
Salaried need ₹15,000+ monthly; self-employed ₹2 lakh+ annual ITR. DTI ≤50% for EMI up to ₹5 crore; PMAY EWS (<₹3 lakh/year) uses family income, co-applicants boost by 20-30%.
Yes, NRIs qualify with 2+ years overseas job, valid visa, NRE proofs; rates +0.25% at 9.75% p.a., 80% LTV via POA. Submit attested docs; contact 1800 102 4145 for NRI processing.
Yes, PMAY-CLSS: 6.50% subsidy up to ₹2.67 lakh on ₹12 lakh loans (property ≤₹45 lakh). Income <₹18 lakh eligible; integrate for effective rate ~3%, with doorstep claims saving ₹1 lakh+ yearly.
Transfer at 9.75%-10.75% (0.50%-1% lower than originators); ₹5,000 fee, minimal docs. Submit NOC/statements; top-up 20% free—saves ₹2,500+ monthly on ₹30 lakh, 5-7 day processing.
With semi-urban prices up 11% in 2025 (NHB data), Hero FinCorp home loan interest rate calculator processing fee requirements application process customer care status shines for PMAY subsidies, quick approvals, and flexible top-ups—empowering ₹10-50 lakh dreams for ₹15,000+ earners. Apply at herofincorp.com or call 1800 102 4145.
