Hero - Digital Lending App 2.0.26

The Digital 2.0 App represents a significant development in digital lending platforms, aiming to streamline the user experience for both new and existing customers. Developed by Hero FinCorp, this application consolidates various loan services into a single platform, providing a comprehensive solution for diverse financial needs.

Key features include instant personal loans delivered through a simplified application process, and specialized financing options such as two-wheeler asset loans designed to facilitate the acquisition of vehicles. The app also offers loyalty-based personal loans with exclusive benefits for returning customers, along with pre-approved, customized loan offers tailored to individual profiles. Additionally, users can take advantage of an extended banking check feature to qualify for higher loan amounts, and a self-assisted journey that allows for end-to-end application completion with minimal outside assistance. The customer servicing module enables users to manage their accounts, download statements, and perform other account-related activities conveniently.

For personal loans, the platform provides flexible options ranging from ₹50,000 to ₹500,000, with tenures spanning 12 to 36 months. Interest rates start at approximately 19% per annum, with maximum APR capped at 45%. The processing fee is set at 2.5% of the loan amount plus applicable taxes. For example, a ₹1,00,000 loan at a 19% interest rate over 12 months would incur an interest of approximately ₹10,588, resulting in a total repayment of around ₹113,538 when including processing fees and taxes. The resulting EMI in this case would be approximately ₹9,216.

The app emphasizes its advantages through several key attributes: a one-stop platform offering multiple loan products; expedited processing with quicker approvals; flexible loan amounts tailored to borrower needs; robust security measures ensuring data protection and compliance; and an intuitive interface designed for ease of navigation. It is notable that the application is exclusively compatible with Android devices excluding tablets.