BAJAJ FINSERV DIRECT LIMITED

₹50,000 Personal Loan

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.

Your Personal Loan EMI
₹ 951
Total Interest Amount
₹ 18,504
Principal Amount
₹ 50,000
Total Payable Amount
₹ 68,504
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 19 personal loan providers on Bajaj Markets.

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

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Overview

A ₹50,000 personal loan can be an effective solution when you need quick access to funds for planned or unplanned expenses. You may require the funds for a short trip, paying fees, or handling car repairs. This loan allows you to manage immediate commitments without financial strain.

For example, a personal loan of ₹50,000 at a 10% interest rate with a 12-month tenure results in an EMI of approximately ₹4,392. The total interest payable would be around ₹1,704, making the overall repayment amount ₹51,704.

With competitive interest rates and convenient repayment options, you can manage your expenses efficiently. This option suits salaried individuals requiring urgent financial support. You need to have minimal paperwork and benefit from fast processing to receive the funds when required.

Compare ₹50,000 Personal Loan Interest Rates by Various Banks & NBFCs

When applying for a personal loan on Bajaj Markets, you can compare and assess the interest rates and maximum tenures offered by multiple lenders. This way, you can make an informed decision and enjoy long-term benefits.

Available Offerings

Max. Loan Amount

Min. Interest Rate

Max. Tenure

Processing Fee

CASHe (Bhanix Finance) Personal Loan

₹3 Lakhs

2.79% p.m. 

18 Months

Up to 5.5% of the loan amount + GST

Bajaj Finance Personal Loan

₹55 Lakhs

10% p.a.

96 Months 

Up to 3.93% of the loan amount (Inclusive of applicable taxes)

Kotak Mahindra Bank Personal Loan

₹40 Lakhs

10.99% p.a.

72 Months

Up to 1.50% of the loan amount + GST

SMFG India Credit Personal Loan

₹25 Lakhs

12% p.a.

60 Months

0% to 6% of the loan amount

L&T Finance Personal Loan

₹15 Lakhs

12% p.a.

48 Months

Up to 3% of the loan amount + GST

Federal Bank Personal Loan

₹5 Lakhs

12.75% p.a.

48 Months

2% to 3% of the loan amount + 18% GST

Fibe Personal Loan

₹5 Lakhs

14% p.a.

36 Months

Up to 2% of the loan amount

Kissht Personal Loan

₹4 Lakhs

14% p.a.

24 Months

3% to 5% of the loan amount

KreditBee Personal Loan

₹5 Lakhs

14% p.a.

24 Months

Up to 3% of the loan amount

PaySense Personal Loan

₹5 Lakhs

14% p.a.

60 Months

2% to 2.5% of the loan amount + GST or ₹500 + GST

Muthoot Finance Personal Loan

₹10 Lakhs

14.5% p.a.

60 Months

2% to 4% of the loan amount

Finnable Personal Loan

₹10 Lakhs

15.95% p.a.

60 Months

Up to 3% of the loan amount

InCred Personal Loan

₹10 Lakhs

16% p.a.

60 Months

2% to 5% of the sanctioned amount

Moneyview Personal Loan

₹10 Lakhs

16% p.a. (1.33% p.m.)

60 Months

Starts from 2% of the approved loan amount

Freo Personal Loan

₹5 Lakhs

18% p.a.

36 Months

5% to 10% of the loan amount

Olyv Personal Loan

₹1 Lakh

18% p.a.

12 Months

2% to 12% of the loan amount

Upwards Personal Loan

₹5 Lakhs

18% p.a.

36 Months

Up to 4% of the loan amount

Zype Personal Loan

₹5 Lakhs

18% p.a.

12 Months

2% to 6% of the loan amount

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

₹50,000 Personal Loan EMI for Different Tenures

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. Suppose that you have taken a personal 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

Interest Rate

Total Interest Payable

Total Repayment Cost

₹50,000 Loan for 1 year

₹4,396

10% p.a.

₹2,750

₹52,750

₹50,000 Loan for 3 years

₹1,613

10% p.a.

₹8,081

₹58,081

₹50,000 Loan for 5 years

₹1,062 

10% p.a.

₹13,741

₹63,741

₹50,000 Loan for 8 years

₹759

10% p.a.

₹22,836

₹72,836

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

₹50,000 Personal Loan: Fees and Charges

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 mentioned details are subject to change at the lender’s discretion.

How to Calculate Your Personal Loan EMI

Here is how you can calculate your personal loan EMI using a simple formula:

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

Where:

  • P = Principal 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 personal loan of ₹50,000. For instance, if you take the loan on Bajaj Markets at an annual interest rate of 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.

Eligibility & Documents Required for a Personal Loan of ₹50,000

Applying for a personal loan of ₹50,000 requires you to meet a few basic eligibility conditions. Although these may vary depending on the lender, the following factors are generally taken into consideration:

  1. You must be an Indian citizen

  2. You must be salaried or self-employed

  3. You must be at least 18 years old

  4. Earn a minimum monthly income of ₹10,000

  5. Have at least 1 year of work experience

  6.  Ensure your CIBIL score for ₹50,000 personal loan is 650 or above, and routinely check your CIBIL score online for accurate updates

To apply for a ₹50,000 personal loan, below are the most commonly required documents:

Identity Proof (Any one of the following)

Address Proof (Any one of the following)

Income Proof (Any one of the following)

Aadhaar card Aadhaar card Salary slips from the last 3 months
PAN card Passport Bank statements from the last 3 months
Passport Utility bills (Water/electricity/gas bills)  
Voter ID Ration card  
Driving licence Driving licence  
  Property documents  

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

You can apply online for a ₹50,000 personal loan effortlessly on Bajaj Markets by following these easy steps:

1. Visit the Bajaj Markets personal loan application page

2. Select your profession from the available dropdown options

3. Enter your valid mobile number and residential PIN code

4. Review and accept the provided terms and conditions

5. Click the ‘Proceed’ button to advance your loan application

6. Enter required details like PAN, full name, date of birth, monthly salary, employer information, email, gender, and salary payment mode

7. Submit your application details to view personalised loan offers instantly

8. Choose the loan offer that suits you best, select your preferred repayment tenure, and finalise your application

A representative from Bajaj Markets will soon reach out to assist you with further steps.

₹50,000 Personal Loan Monthly Payment Plan

The amortisation schedule outlines your repayment 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.

Impact of Pre and Post-Personal Loan Approval on CIBIL Score

Here is how borrowing an amount through a personal loan impacts your credit health:

Pre-approval Impact

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

Post-approval Impact

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

Uses of a ₹50,000 Personal Loan

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:

Last-minute Travel Plans

If you have to make any last-minute trips, a personal loan of ₹50,000 should be enough to cover the costs. This amount can help cover expenses like flight tickets, accommodation, and more.

Gadget Shopping

You can buy a new smartphone or laptop with these funds and repay it comfortably over a long tenure.

Medical Bills

A personal loan of ₹50,000 can help you manage any medical emergency. You can focus on providing your family with financial support and avoiding stress.

Renovation and Refurbishing

You can invest in upgrading your home with a quick loan. A personal loan of ₹50,000 can provide the 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.

Disclaimer

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.

Frequently Asked Questions

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. Just ensure that you meet 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 as low as 10.99% 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 citizen who is above 21 years of age with a good CIBIL score. You must also be either a self-employed person or a salaried professional working with a reputable company. Monthly earnings of a minimum of ₹10,000 are ideal for qualifying for a personal loan of ₹50,000.

To get a personal loan of ₹50,000 instantly, an Aadhaar Card is a mandatory document. It acts as both identity and address proof. Therefore, whichever lender you apply with will require an Aadhaar Card. You may be asked to provide other KYC documents; hence, it is best to stay informed.

You can easily obtain a ₹50,000 loan using your PAN card as identity proof through Bajaj Markets, which partners with various trusted lenders. Submit basic details along with your PAN, meet eligibility criteria, and enjoy quick approval and instant disbursement.

To get ₹50,000 immediately, apply online for an instant personal loan via platforms like Bajaj Markets. Ensure you meet basic eligibility requirements and provide accurate documentation for faster approvals, typically within 24 hours or less.

Eligibility for a ₹50,000 personal loan typically requires being an Indian citizen aged 21-60, having a minimum monthly income, and a stable employment history. Additionally, maintaining a healthy credit score of at least 650 improves approval chances significantly.

Yes, banks offer ₹50,000 personal loans if you meet specific eligibility conditions such as good credit history, steady income, and proper documentation. Applying through platforms like Bajaj Markets simplifies your process and helps find competitive offers from multiple banks.

The monthly EMI for a ₹50,000 loan depends on the interest rate and repayment tenure you select. For instance, a ₹50,000 loan at 12% interest over 24 months would typically result in an EMI of approximately ₹2,349.

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