Need ₹50,000 Loan urgently? 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 |
14% p.a onwards |
|
12% p.a onwards |
|
14% p.a onwards |
|
10.49% p.a onwards |
|
13.75% p.a onwards |
|
14% p.a. onwards |
|
27% p.a onwards |
|
21% p.a onwards |
|
24% p.a onwards |
|
14% p.a onwards |
|
10.70% p.a onwards |
|
18% p.a onwards |
|
24% p.a. onwards |
|
16.50% p.a onwards |
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 ₹50,000 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.
Also Check Other Instant Personal Loan Options |
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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
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✔️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.
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✔️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.
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✔️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.
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✔️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.
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✔️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.
