Where Can I Get a Personal Loan for 50000.00?

₹ 50,000 Personal Loan

Apply for ₹ 50,000 Personal Loan

Last Updated 17th Feb 2022

A ₹ fifty,000 personal loan helps with repaying small debts, paying for educational needs and ownership electronic appliances as per need.
Banks across India by and large charge variable involvement rates, resulting in an affordable monthly ₹ 50,000 personal loan EMI amount.

Rates	10.25% p.a Check Best Offers
Profession	Salaried employees and Self-employed professionals
Minimum Income	₹ 25,000 per month for professionals
Historic period	21 to 65 years
Processing Fee	Up to 3% of the loan amount
Pre-Closure Charges	Nil to up to v% of outstanding balance
Required CIBIL Score	650 and Above

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Get ₹ 50,000 Personal Loan Online

A ₹ 50,000 personal loan will assist you meet emergency cash requirements besides paying for course fees, buying electronic appliances and to consolidate modest debts. The awarding process for a personal loan of ₹ l,000 is quite a hassle-complimentary task every bit most banks offering instant loan approval facilities. Past applying with MyLoanCare, the entire process becomes even more seamless, owing to the detailed charts and ₹ 50,000 personal loan EMI calculator available online.

Bank SBI

Involvement Rates @9.sixty%

Everyman EMI Per Lakh ₹ 1,832 for 72 Months

Customer Rating

iii.6/five.0

Bank HDFC Bank

Interest Rates @x.25%

Lowest EMI Per Lakh ₹ two,137 for 60 Months

Customer Rating

four.five/5.0

Eligibility Criteria for Personal Loan of ₹ 50,000

The following pointers will aid you become a detailed view of the factors influencing a ₹ fifty,000 loan scheme eligibility criteria:

Age: A ₹ 50,000 personal loan can be availed by you if your historic period lies between a minimum of 21 years to a maximum of 65 years. There are some banks, still, who offer personal loans to candidates who are minimum of 18 years.
Credit Score: 650 and above is an ideal credit score to become a ₹ fifty,000 personal loan. Also, make certain to clear out pre-existing personal loan EMIs, to eliminate sudden greenbacks crunch while repaying the loans.
Employment Type: While authorities employees are the most preferred applicants for a ₹ 50,000 instant personal loan, if you are working with private firms or self-employed y'all can easily get personal loan upto ₹ 50,000 approved past presenting proper documents.
Work Experience: To become a personal loan of ₹ l,000 approved, banks generally prefer candidates with a total work experience of 3 years. While few approve of loans to applicants with 1 year of work feel in a detail system.

All-time Involvement Rates for ₹ fifty,000 Personal Loan

Documents Required for ₹ fifty,000 Personal Loan

You need to submit the following documents to get a ₹ 50,000 loan canonical :

Income Proof: Bank account argument, salary slip (concluding three months), Class xvi, Previous yr P&L statements forth with ITR (for cocky-employed applicants).
Address Proof: Voters ID card, Passport, Driving License and Mobile bill (not more than 3 months one-time)
Identity Proof: PAN carte, Voters ID card, Driving License and Aadhar card tin can exist presented as identity proof.

₹ 50,000 Personal Loan EMI Calculator

The EMI for ₹ 50,000 personal loan is generally within budget and is direct proportional to the selected tenure, your age and involvement rate charged. You can use the EMI calculator available on the website of MyLoanCare to get an gauge of ₹ 50,000 loan EMI. The following table elaborates more than on ₹ 50,000 personal loan EMI for five years at the lowest personal loan interest rate of x.25%.

Banking concern Name	Monthly EMI for five Years (₹)
ICICI Bank ⊕ Compare	₹ 1,069
HDFC Bank ⊕ Compare	₹ 1,069
Kotak Bank ⊕ Compare	₹ 1,069
Axis Bank ⊕ Compare	₹ i,074
IndusInd Bank ⊕ Compare	₹ 1,074
Tata Capital ⊕ Compare	₹ 1,074
Federal Banking company ⊕ Compare	₹ 1,074
IDFC First Bank ⊕ Compare	₹ one,074
Yes Banking company ⊕ Compare	₹ one,080
IIFL ⊕ Compare	₹ 1,093
Standard Chartered Bank ⊕ Compare	₹ i,100
Fullerton India ⊕ Compare	₹ ane,112
IDBI Bank ⊕ Compare	₹ 1,112
Canara Bank ⊕ Compare	₹ 1,122
Syndicate Banking company ⊕ Compare	₹ 1,122
Bajaj Finserv ⊕ Compare	₹ 1,137
Centrality Finance ⊕ Compare	₹ 1,138
RBL Bank ⊕ Compare	₹ 1,163
Muthoot ⊕ Compare	₹ 1,163
HDB Financial ⊕ Compare	₹ i,618
Cashe ⊕ Compare	₹ one,711

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

Applying for a ₹ 50,000 personal loan with with MyLoanCare is quite an easy task. Go through the following steps to go the procedure:

Step1: Y'all tin can visit the website of MyLoanCare or download the app from playstore to fill up in personal details like name, income, contact number, residence, existing loans if any and more.
Step 2: Once the details are submitted, the website will offer accurate charts for easy comparisons.
Pace 3: A representative from MyLoanCare will reach out to y'all, to confirm the updated details and discuss other loan-related requirements. He/she will offer relevant suggestions related to advisable banks besides explaining the complete procedure.
Step 4: In instance you are eligible, the representative will schedule an appointment with the selected depository financial institution to pick upwards the required documents, or you tin can even update documents online on the website of MyLoanCare. A representative from the depository financial institution will become in affect with you to verify those.
Step 5: Depository financial institution officials will go through the credit history, updated documents and eligibility criteria before approval a ₹ l,000 personal loan. If sanctioned they will forward a terminal sanction letter comprising loan-related details, processing fee, the interest rate charged and tenure.
Step 6: The approved amount volition get disbursed in the registered bank business relationship inside one or two business organization dates.

FAQs

✅Which bank is all-time for a Personal Loan of ₹ fifty,000?

Currently, ICICI Bank, HDFC Depository financial institution and Kotak Bank, are the all-time personal loan banks in Republic of india for a ₹ fifty,000 loans as they offering personal loan at lowest rate of x.25%, 10.25% and 10.25%. Apart from that, HDFC Banking company is also proficient for client service on ₹ 50,000 loan.

✅Can I get Lowest Interest Rate on a ₹ 50,000 Personal Loan?

You lot tin can go the everyman personal loan rate on a ₹ l,000 personal loan, if you have a stable source of income with a good cibil score. Apart from that, opting for a personal loan from your existing bank volition help you grab the all-time personal loan offering. Y'all tin can besides make a comparison between the banks offering comparative rates and cull the most affordable option at ₹ l,000 loan. For this, y'all can go through the website of MyLoanCare and make a comparison.

✅Tin can I avail ₹ 50,000 Loan without Income Proof?

Banks generally avail ₹ 50,000 loan for personal employ in a hassle-free manner. You lot must maintain a considerable CIBIL score besides holding a savings account with the particular lending institute. In add-on to that, you can also bring in a co-applicant to utilize for a ₹ l,000 personal loan. However ensure that the co-applicant has valid sources of stable income, to improve your personal loan eligibility without income proof.

✅What is the involvement rate for SBI ₹ 50,000 Loan?

The involvement rate charged for SBI personal loan ₹ 50,000 starts from ix.lx%. Even so, the rate may vary beyond personal loan schemes and is dependent on factors such equally your cibil score, occupation and whether you lot are an existing or new customer. SBI usually offers depression rates to salaried and existing customers at ₹ 50,000 personal loan.

✅What are the factors that can touch on ₹ 50,000 Personal Loan EMI?

Selected tenure, loan amount opted for and the involvement rate charged influences the payable emi for personal loan of ₹ 50,000. It is better to summate personal loan EMI in advance, to plan your loan repayment accurately. However the EMI in example of ₹fifty,000 will be lower, considering of lower loan amount.

✅What volition be the EMI for a ₹ fifty,000 Personal Loan?

Selected tenure and interest charge per unit charged by individual banks determine ₹ 50,000 personal loan EMI amounts. The EMI adding on a ₹ 50,000 personal loan for a period of 5 years from meridian 5 banks is listed equally follows:

Banking company	Lowest EMI
ICICI Bank	₹ ane,069
HDFC Bank	₹ one,069
Kotak Bank	₹ 1,069
Axis Banking concern	₹ 1,074
IndusInd Bank	₹ 1,074

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*Terms and conditions apply. Credit at sole discretion of lender, which is subject field to credit appraisement, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. MyLoanCare is an independent professional person service provider and is non related to the government or regime bodies or whatever regulator or any credit information bureau in whatever way. Information carried at this website is not and should not exist construed as an offering or solicitation or invitation to borrow or lend. The Company does not undertake any liability with respect to the definiteness of the content, data and calculations. Information is subject to change without notice. Past submitting your query or using whatever tools or calculators, you authorize MyLoanCare to share your data with lender(s), consent for such lender(s) to access your credit information report and contact you lot regarding your query overriding your number existence in National Do Non Call Registry. This is a gratis service and no charges are payable by the borrower to MyLoanCare. The Company may receive remuneration from lenders for services provided to them. Read More Read Less

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Source: https://www.myloancare.in/personal-loan/50000-personal-loan/