BAJAJ FINSERV DIRECT LIMITED

Personal Loan of ₹50,000

Harness financial freedom with quick financing of a personal loan of ₹50,000!

...

Personal loans offer an ideal solution for urgent needs when savings are unavailable. A personal loan of ₹50,000 is easily accessible to fulfil your requirements with a straightforward approval process. With Bajaj Markets, you can get loans from trusted lenders. 

You can benefit from flexible repayment terms of up to 96 months, with interest rates starting at 10% per annum.

Read More
Your Personal Loan EMI
₹ 4,396
Total Interest Amount
₹ 2,750
Principal Amount
₹ 50,000
Total Payable Amount
₹ 52,750
Loan Amount i
Interest Rate
- +
Min value reached
Max value reached
Tenure
- +
Min value reached
Max value reached

You can also make instant comparisons between loan offers from over 20 personal loan providers on Bajaj Markets.

...

You can also evaluate the total interest amount and overall payable amount for better financial planning and budgeting.

Read More

When applying for a personal loan of any loan amount, it is important to compare loan offers from multiple lenders. You need to assess the interest rates and the maximum tenures offered by each lender to make an informed decision.

Lender

Maximum Tenure

Minimum Interest Rate

Bajaj Finance Limited

96 months

10% p.a.

Kotak Mahindra Bank

72 months

10.99% p.a.

Federal Bank

48 months

11% p.a.

L&T Finance

48 months

12% p.a.

SMFG India Credit

60 months

12% p.a.

Fibe

36 months

14% p.a.

Kissht

24 months

14% p.a.

KreditBee

24 months

14% p.a.

Muthoot Finance

60 months

14.50% p.a.

PaySense

60 months

14% p.a.

Finnable

60 months

15.95% p.a.

InCred

60 months

16% p.a.

Moneyview

60 months

16% p.a.

Upwards

36 months

18% p.a.

MoneyTap

36 months

18% p.a.

Olyv

12 months

18% p.a.

Zype

12 months

18% p.a.

CASHe (Bhanix Finance)

18 months

2.79% p.m.

Disclaimer: The above-mentioned details are subject to change at the lender’s discretion.

The tenure you choose has a major impact on your personal loan EMIs. Checking and comparing the various options available before selecting an offer is important. Consider that you have taken a loan urgent loan of ₹50,000 at an interest rate of 10% p.a. 

Here is how the instalment amount changes based on the loan tenure:

Tenure

EMI Amount

Total Interest Payable

Total Repayment Cost

1 year (12 months)

₹4,396

₹2,750

₹52,750

3 years (36 months)

₹1,613

₹8,081

₹58,081

5 years (60 months)

₹1,062 

₹13,741

₹63,741

8 years (96 months)

₹759

₹22,836

₹72,836

Disclaimer: Note that these are approximate values and are meant only for illustration. For actual EMI values, reach out to your lender.

In addition to interest rates, there are various other costs associated with borrowing. Fees and charges are incurred over the total repayment tenure. Here are some charges you need to be aware of:

Fees and Charges

Details

Processing Fees

Up to 12% of the loan amount

Foreclosure Charges

Up to 6% of the amount

Part-payment Charges

Up to 20% of the amount

Disclaimer: The above-mentioned details are subject to change at the lender’s discretion.

Here is how you can calculate your personal loan EMI:

EMI = [P x R x (1+R)^N] / [(1+R)^N-1]

Where:

  • P = Loan amount

  • R = Monthly interest rate (Annual interest rate/12/100)

  • N = Loan tenure in months

Using this formula, you can easily calculate the loan terms for a ₹50,000 loan amount at an interest rate starting at 10% for a tenure of 30 months. Based on these terms, your EMI will be ₹1,891 per month. Similarly, your total payable will be ₹56,717, and your total interest paid will be ₹6,717 over the tenure.

The amortisation schedule outlines your payment breakdown for a year. Here is how it appears when you get a ₹50,000 loan at an interest rate of 10% p.a. for 6 months: 

Month

Payable Amount

Principal

Interest

Balance

Month 1

₹8,578

₹8,161

₹417

₹41,839

Month 2

₹8,578

₹8,229

₹349

₹33,609

Month 3

₹8,578

₹8,298

₹280

₹25,311

Month 4

₹8,578

₹8,367

₹211

₹16,944

Month 5

₹8,578

₹8,437

₹141

₹8,507

Month 6

₹8,578

₹8,507

₹71

₹0

Disclaimer: These are approximate values and are meant for illustration only. For actual EMI values, reach out to the lender.

Here is how borrowing an instant personal loan impacts your credit health: 

  • Pre-approval Impact

Lenders carry out a hard enquiry on your credit profile to assess your creditworthiness. This can temporarily lower your credit score. You can improve your score by managing your payments. 

  • Post-repayment Impact

Paying your loan on time is an excellent solution to improve your credit history and build your credit score. 

Borrowing ₹50,000 is easy as the loan amount is small yet sufficient enough to meet substantial needs. Here are some ways you can use the funds. 

  • Impromptu Travel

If you have any last-minute travel plans, then ₹50,000 should be enough to cover the cost. This amount may not be enough to fund your international trip, but it can help you travel all across India comfortably. 

  • Gadget Shopping 

But any new high-end smartphone or laptop with these funds can be repaid comfortably over a long tenure.

  • Medical Bills

Manage any medical emergency without any stress so you can focus on providing your family with financial and monetary support. 

  • Renovation and Refurbishing

Investing in upgrading your home with a quick loan. Get personal financial support to redecorate, renovate or revamp your home and car. 

  • Relocation Funds

If you are planning to move to a new city or locality, consider financing it with a personal loan of ₹50,000. This loan can help cover moving expenses and make the transition smoother. Take advantage of this option for a hassle-free relocation experience.

Frequently Asked Questions

50000 Rupees Personal Loan
How can I get a loan of ₹50,000?

You can get a personal loan of ₹50,000 on Bajaj Markets through a simple online application process and fulfilling the eligibility criteria.

Your EMI will vary depending on the principal amount, interest rate and repayment tenure. Assuming that the interest rate is 10% p.a., the EMI for a 6-month tenure will be ₹8,578, and for a 60-month tenure, it will be ₹1,062.

You can get the loan at interest rates starting from 10% p.a. on Bajaj Markets. The rate offered to you may differ depending on your loan eligibility and the lender’s policies.

You must be an Indian national who is above 21 years of age with a good CIBIL score. 

Also, you must either be a self-employed person or a salaried professional working with a company of repute. You should earn a minimum of ₹25,000 a month in order to qualify for a personal loan of ₹50,000.

To get a personal loan of ₹50,000 loan instantly, an Aadhaar Card is a mandatory document. It acts as proof of eligibility and address. Therefore, whichever lender you apply with requires an Aadhaar Card. 

View More
Home
Home
ONDC_BD_StealDeals
Steal Deals
Credit Score
Credit Score
Accounts
Accounts
Explore
Explore

Our Products