Short answer: Hero FinCorp lends ₹50,000 to ₹7 lakh for 12 to 36 months from 17.9% a year, with a ₹15,000 income bar. Bajaj Finance starts much lower (10%) and lends far more for longer, but asks for ₹25,001+ income depending on city.
Last verified: 12 October 2026 from each company’s official website and, where marked, its Google Play listing. Rates and fees change; the lender’s Key Fact Statement (KFS) and loan agreement decide your actual terms. FundsTiger does not rank lenders.
Hero FinCorp vs Bajaj Finance at a glance
| Hero FinCorp | Bajaj Finance | |
|---|---|---|
| Type | RBI-registered NBFC | RBI-registered NBFC (Upper layer) |
| Loan amount | ₹50,000 to ₹7 lakh | ₹40,000 to ₹55 lakh |
| Interest rate | From 17.9% a year | 10% to 30.5% a year |
| APR | Not published | Not published |
| Processing fee | Minimum 2.5% + GST, deducted at disbursal | Up to 4.13% of the loan amount, including taxes |
| Tenure | 12 to 36 months | 12 to 108 months |
| Minimum income | ₹15,000 a month | From ₹25,001 a month depending on city (₹40,000 cited for Pune, Bengaluru, Mumbai, Delhi) |
| Who can apply | Salaried or self-employed | Salaried (public, private or MNC); self-employed also listed |
| Age | 21 to 58 | 21 to 80 at the end of the loan |
| Prepayment and foreclosure | Foreclosure up to 5% + GST on outstanding principal; the site also says no prepayment penalty (its pages are inconsistent) | Term loan: up to 4.72% incl. taxes on full or part-prepayment. Flexi loans: no part-prepayment charge. |
| Product | Term loan (EMI) | Term loan, Flexi Dropline and Flexi Hybrid |
| RBI-regulated lenders | Hero FinCorp lends directly | Bajaj Finance lends directly |
| On RBI’s digital lending app list | Yes: 1 RBI-regulated lender lists it; 50L+ installs, rated 4.0 | Yes: 1 RBI-regulated lender lists it; 10Cr+ installs, rated 4.7 |
| Also worth knowing | Fully digital; Credit score 725+ preferred | Flexi loans charge interest only on the amount withdrawn; Flexi Hybrid: interest-only EMIs for up to 36 months; CIBIL score 650 or higher |
Install counts and ratings are from Google Play, as recorded on RBI’s digital lending app list check of 5 October 2026.
What a ₹3 lakh loan over 36 months would cost
We costed the same loan on each lender’s advertised figures, using the standard reducing-balance EMI formula and adding 18% GST to fees where the lender quotes them before tax. The lowest advertised rate is usually for the strongest credit profiles; many borrowers are offered more.
| Lender | Scenario | Rate a year | EMI | Total interest | Fee incl. GST | Total cost |
|---|---|---|---|---|---|---|
| Hero FinCorp | Lowest advertised rate, minimum fee | 17.9% | ₹10,831 | ₹89,904 | ₹8,850 | ₹98,754 |
| Bajaj Finance | Lowest advertised rate | 10% | ₹9,680 | ₹48,486 | ₹12,390 | ₹60,876 |
| Bajaj Finance | Highest advertised rate | 30.5% | ₹12,818 | ₹1,61,440 | ₹12,390 | ₹1,73,830 |
Try your own numbers in our personal loan EMI calculator. For loans quoted only as APR, the APR already includes fees, so the total is an estimate.
Key differences
- Rate: Hero FinCorp from 17.9%; Bajaj 10% to 30.5%.
- Income: Hero FinCorp ₹15,000; Bajaj from ₹25,001.
- Loan size: Hero FinCorp up to ₹7 lakh; Bajaj up to ₹55 lakh.
- Tenure: Hero FinCorp 12 to 36 months; Bajaj 12 to 108 months.
Which should you choose?
Hero FinCorp may suit you if you earn ₹15,000 to ₹25,000 and need up to ₹7 lakh.
Bajaj Finance may suit you if you meet its income bar; its starting rate is much lower.
Whichever you pick, compare the APR in the KFS you are actually offered, not the advertised starting rate.
Before you apply
- Find the lender’s name in the app and check it on RBI’s list of digital lending apps or our RBI-registered NBFC search.
- Read the Key Fact Statement (KFS) before you accept. It must show the APR, every fee and the total you will repay.
- Never pay a fee before the loan is disbursed. Regulated lenders deduct fees from the loan or add them to the EMI.
- Apply to one or two lenders, not ten. Each application is a hard enquiry on your credit report.
- Check that the EMI fits your budget with our FOIR calculator.
Want to see offers from several RBI-regulated lenders in one place?
Frequently asked questions
What credit score does Hero FinCorp need?
Hero FinCorp says 725+ is preferred. Bajaj Finance states 650 or higher.
Does Hero FinCorp charge for foreclosure?
Its pages say up to 5% + GST on outstanding principal for foreclosure, but also no prepayment penalty. Confirm in your loan agreement.
Are these lenders RBI-regulated?
The loans described here are given by RBI-registered NBFCs or banks named in the table. Check the lender named in your loan agreement on RBI’s digital lending app list.
Where do these figures come from?
From each company’s official website and, where noted, its Google Play listing, checked on 12 October 2026. Where a company’s own pages disagree, we show both figures.
Sources
- Hero FinCorp personal loans
- Hero FinCorp fees and charges
- Bajaj Finance personal loan page
- Bajaj Finance loan for salaried
Read more: Hero FinCorp app review · Bajaj Finance app review · Hero FinCorp lender profile · Bajaj Finance lender profile · All loan app reviews · Lender directory
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Disclosure: FundsTiger (Gatimaan Finance Advisors Pvt. Ltd.) is a loan marketplace and lending service provider for RBI-regulated lenders. Aparampaar Finance Pvt. Ltd. (Omozing), one of those lenders, is a related party of FundsTiger. This article is general information, not financial advice. Read your loan agreement and KFS before you decide.