Get Lowest Personal Loan Interest Rate ✓ Loan up to 50 Lakhs ✓ Quick Disbursal ✓ Minimum Documentation! Apply Now

A personal loan is undoubtedly the most versatile type of funding instrument. You can easily apply for a ₹50 lakh loan for a tenure of five years or more. The loan amount can be spent on your marriage, urgent unplanned expenses, marriage, unexpected medical expenses, or debt consolidation. You need not worry about replaying your personal loan as you can easily repay through affordable EMIs that too at marginal interest rates.

Purpose of ₹50 Lakh Personal Loan

Taking care of emergency fund requirements has become highly seamless today with the help of personal loans. People borrow loans for different purposes. The decline in lending rates and exclusive offers on interest rates and EMIs have made it more comfortable to borrow funds as per your requirements. With the help of personal loans, you can take care of your educational expenses, urgent medical emergencies, marriage, big-ticket purchases, or home renovation. You can easily avail of a ₹50 lakh personal loan at a low-interest rate starting from 10.30% p.a. onwards for an extended tenure of up to 5 to 10 years.

Interest Rates for ₹50 Lakh Personal Loan

Lending Partner Name

Interest Rate Range

Avail Laon

Bajaj Finance Limited

13.5% p.a. Onwards

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30% p.a. Onwards

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14% p.a. Onwards

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15.95% p.a. Onwards

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IIFL Finance

18% p.a. Onwards

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21% p.a. Onwards

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15% p.a. Onwards

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Kotak Mahindra Bank

10.99% p.a. Onwards

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L&T Finance

11% p.a. Onwards

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16% p.a. Onwards

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24% p.a. Onwards

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Muthoot Finance

14.50% p.a. Onwards

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PaySense Partners

14% p.a. Onwards

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9.99% p.a. Onwards

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2% p.m. Onwards

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SMFG India Credit

12% p.a. Onwards

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1.5% p.m. Onwards

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10.99% p.a. Onwards

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Disclaimer: The rates mentioned above are subject to constant change. You must always check with the lender before applying. Additionally, the final interest rate applicable to you will depend on factors such as your repayment tenure, your age, your monthly income, and your CIBIL score.

Eligibility Criteria for ₹50 Lakh Personal Loan

The eligibility criteria for a ₹50 lakh personal loan varies depending on the lender. You can easily apply for a personal loan if you meet the following eligibility criteria. Once this is met you just need to submit the required documents to complete your application process for the ₹50 lakh personal loan. Major eligibility criteria include:-

  • You should be an Indian national.

  • You should be between 21 years to 67 years old.

  • Employees of MNCs or Public or private sector are eligible.

  • Your CIBIL score should be 750 or higher.

  • Your minimum monthly salary should be ₹22,000; this criterion might vary based on the city of residence.


The loan disbursal process is normally quick and mostly digital. When you wish to apply, you should first arrange all the required documents and keep them handy. During the online application process, you might be required to upload them after filling in the personal details. After the application form for a ₹50 lakh personal loan is submitted, representatives from the bank will get in touch with you to collect the physical copies of the submitted documents based on your convenience.

How to Apply for a ₹50 Lakh Personal Loan

To begin the personal loan application process follow these steps-

  • Step 1: Select a Bank from where you wish to obtain a ₹50 Lakh Personal Loan

  • Step 2: Browse its website or download the app.

  • Step 3: Click on the ‘Personal Loan’ section.

  • Step 4: Fill in the application form carefully and accurately.

  • Step 5: Finally, submit the form with required documents.

Documents Required to avail ₹50 Lakh Personal Loan

The major documents required to apply for a ₹50 lakh personal loan are:-

  • KYC documents comprising of Aadhaar card/ PAN card/voter's ID/passport

  • Proof of employment, like an employee ID card

  • Salary statement of the last 3 to 6 months

  • Bank account statements for the last 3 months

₹50 Lakh Personal Loan EMI

The ₹50 lakh personal loan EMI is would different based on the tenure opted and the interest rate offered by the bank/lender. You can check EMI for a ₹50 lakh personal loan for different tenures at a low personal loan interest rate of 8.10% p.a.

Repayment Tenure

Interest Rate


5 Years



10 Years



15 Years



20 Years



25 Years



30 Years



FAQs on ₹50 Lakh Personal Loan

These days the application process for personal loans from most banks, lenders, and NBFCs is fully digital. Therefore, you can easily avail of a ₹50 lakh instant personal loan if you fulfill all the eligibility criteria set by the lender. You are only required to visit the website of the bank and fill in the loan application form. In addition to this, you must submit the required supporting documents. 

The EMI for a ₹50 lakh personal loan majorly depends on the loan tenure chosen and the rate of interest, which may vary based on the lender/bank. The monthly EMI for different tenures against ₹50 lakh personal loan has been presented in the above table. You must properly compare the different personal loan schemes to choose the best offer suitable for you.

The interest rate charged on the ₹50 lakh personal loan is dependent on your CIBIL score, employer status, monthly salary, and the lender/ bank you have chosen. If you have a good CIBIL score and the company you work for is reputed and financially stable, then there are high chances that you can get the best interest rates, and at times you can negotiate for better rates.

Personal loans are the types of loans that do not require any collateral if you have a good CIBIL score and a fixed source of regular income. Yes, can avail of a ₹50 lakh personal loan without collateral, only with the help of your income proof. It's best if you avail ₹50 lakh personal loan from the bank where you have your salary or current account. As the bank already has all your required details and the bank statements, therefore, you do not require any income proof in such cases.

You can choose from many banks to apply for a ₹50 lakh personal loan. You just need to compare their latest updated rates for a ₹50 lakh personal loan. This will help you ascertain the right bank to choose. The application process is fully digital, and you would easily get your loan approved with the least documentation.

It's highly recommended to pay all your EMIs on time. Generally, the lenders/banks charge a penalty fee of around 2% of the loan EMI if you default on payments. Delaying or defaulting on loan EMI payments adversely affects your credit score, and there is a high chance that such a habit, if repeated, may jeopardize your chances of getting a loan approved in the future.

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