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An instant personal loan of ₹50,000 can help you to take care of those expenses that arrive out of the blue. Some of the highlighting features of a personal loan of ₹50,000 are that its eligibility criteria is rather straight-forward, it can be availed at a low interest rate, and has a flexible loan repayment tenor.

Purpose of a ₹50,000 Personal Loan

A personal loan of ₹50,000 can come to your rescue on various occasions. If you need to take that hard-earned vacation, buy that mobile phone you have always had your eye on or even take care of those medical expenses that you were not anticipating, you can apply for a ₹50,000 personal loan and get one instantly. All of this implies that the personal loan of ₹50,000 that you will apply for can be used for practically anything.

Interest Rates for ₹50,000 Personal Loan

The starting interest rates at which the lending partners of Bajaj MARKETS are willing to give you a personal loan are as follows:

Lending Partner Name

Starting Interest Rate

Bajaj Finance Limited

14% p.a onwards

Fullerton India

12% p.a onwards

PaySense

14% p.a onwards

Axis Bank

10.49% p.a onwards

Muthoot Finance

13.75% p.a onwards

SBFC Finance Pvt Ltd

14% p.a. onwards

CASHe

27% p.a onwards

Prefr Partners

21% p.a onwards

EarlySalary

24% p.a onwards

KreditBee

14% p.a onwards

Yes Bank

10.70% p.a onwards

InCred

18% p.a onwards

Eligibility Criteria for ₹50,000 Personal Loan

The eligibility criteria that you must meet in order to avail a ₹50,000 personal loan is as follows:

Eligibility Criteria

Particulars

Nationality

Indian

Nature of Employment

Self-Employed or a Salaried Individual working with a public/private firm of repute.

Age

21 years of age or more

Income

You must earn a minimum of ₹25,000 a month to be able to get the loan. However, the income criteria can vary from region to region.

Credit Score

750 or above

How to Apply for Personal Loan of ₹50,000?

You will need to follow the below-mentioned procedure to apply for a ₹50,000 personal loan:

  • Step 1: First, help yourself to the ‘Apply Now’ option of the ‘Personal Loan’ section, and then fill up the application form that will appear on your screen with your professional and personal details.

  • Step 2: Then, choose the loan amount that you want from the lending partner (subject to eligibility) and then choose the loan repayment tenor of your choice.

  • Step 3: Next, submit all the documents required with the application form. These documents will have to be submitted for verification purposes.

Once your loan application is approved and your documents have been verified, the lender will credit the amount in your bank account within 24 hours.

Documents Required for ₹50,000 Personal Loan

You will need to furnish the following set of documents to get a personal loan:

Document Type

Acceptable Documents

Proof of Identity

Aadhaar/PAN card, passport, Voter’s ID, driving licence

Residence Proof

Aadhaar card, Voter’s ID, passport, electricity bill, driving license or telephone bill

Proof of Income

Bank statement/Salary slips going back 3 months

Photographs

2 passport size photographs

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Frequently Asked Questions

  • ✔️How can I get a ₹50,000 personal loan?

    You can avail a personal loan of ₹50,000 through Bajaj MARKETS. All you will need to do is follow a handful of simple steps to do so. If you meet the eligibility criteria and your loan application is approved, the lender will credit the amount into your bank within 24 hours.

  • ✔️What is the EMI on a ₹50,000 personal loan?

    Assuming that the interest rate on your ₹50,000 personal loan is 15% per annum and your repayment tenor is 3 years, your equated monthly instalment will be ₹1,419. But, keep in mind that your EMI outflow will vary depending upon your principal amount, your interest rate and your repayment tenor.

  • ✔️What is the interest rate levied on a ₹50,000 personal loan?

    The interest rate levied on your ₹50,000 personal loan can be anywhere between 10.49% p.a. to 33% p.a. The interest rate applicable to you will depend on your principal amount, repayment tenor, your CIBIL score and your personal loan repayment capability.

  • ✔️What is the eligibility criteria for a ₹50,000 personal loan?

    You must be an Indian national who is above 21 years of age and with a CIBIL score of 750 or more to be eligible for a ₹50,000 personal loan. Additionally, you must either be a self-employed person or a salaried professional working with a company of repute and earn a minimum of ₹25,000 a month in order to qualify for a ₹50,000 personal loan.

  • ✔️Can I get a personal loan of ₹50,000 without any collateral?

    Yes. As personal loans are collateral-free, you can avail a ₹50,000 personal loan without offering any of your valuable possessions as security.

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Contact

020-66399444 ( Mon to Sat - 10 am to 6 pm )

Address

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Bajaj Finserv Direct Limited ("BFDL") is primarily engaged in distribution of financial products and services through its digital platform (“Bajaj Finserv MARKETS”) and inter alia renders services of customer acquisition, providing preliminary credit support activities, fulfilment services and post-acquisition customer services to Banks, NBFCs, HFCs. BFDL is also a registered Corporate Agent (Composite) under valid IRDAI registration number: CA0551 valid till 10-Apr-2024 for solicitation and servicing of Insurance Products. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522