Do you need 50000 Rupees Loan Urgently? There are many reasons why we need urgent small credit loans. You can take ₹50000 Instant Loan from banks, financial institutions, and NBFCs to meet your financial needs, such as medical expenses, purchase of a new mobile phone, college fees, home renovation, etc.
If you want a loan for any business-related need, you can take a PNB e Mudra loan ₹50000 online.
Non-banking financial companies have made the loan process more comfortable. You can check your eligibility and apply for a loan in just a few minutes through your mobile phone. Here, we will tell you how to get Rupees 50000 Instant Loan at a reasonable interest rate with a few documents.
Need 50000 Rupees Loan Urgently
|Article Topic||Need Instant ₹50000 Personal Loan|
|Interest Rate||Competitive Interest Rate starting from 15% per annum.|
|Loan Amount||₹5,000 to ₹5 lakhs|
|Tenure||3 months to 5 years|
|Loan Process||100% Digital Process (No paperwork is required)|
|Disbursal||Within a few hours (Get a loan amount directly into your bank account)|
Before the Digital Age, applying for a personal loan was difficult as it took several days to get the loan, and many documents were required.
This digital age has made it easy for us to take a loan, but it is also dangerous because many fake loan applications cheat you in the name of a loan. They are only interested in your details. Therefore, before taking a loan on any application, check it thoroughly.
We will give you information about some apps where you can take a loan. Their rating on the Play Store is good, and downloads are also very high, but it is mandatory to read the terms and conditions of the loan.
10 Best ₹50000 Personal Loan Apps
Many Non-banking financial companies (NBFC) apps are available on Google and Apple stores. You can easily download these apps and check your instant loan eligibility in just a few minutes.
|App||Loan Amount||Interest Rate (p.a.)|
|Kreditbee||₹1000 to 3 lakhs||15% to 29.95%|
|Money View||₹5000 to ₹5 lakhs||Starting from 16%|
|Nira||₹5000 to ₹1 lakh||24% to 36%|
|IIFL Finance||₹5000 to ₹5 lakhs||12.75% to 33.75%|
|Fibe (Early Salary Loan)||₹5000 to ₹5 lakhs||Starting from 15%|
|PNB E Mudra Loan||₹50000 to ₹10 lakhs||8.95% to 12%|
|CASHe||₹1000 to ₹4 lakhs||24% to 30%|
|DMI Finance Personal Loan||₹1000 to ₹25 lakhs||Starting from 12%|
|Buddy Loan||₹10000 to ₹15 lakhs||Starting from 11.99%|
|NAVI Instant Personal Loan||₹10000 to ₹20 lakhs||12% to 36%|
|SBI E Mudra Loan||₹50000 to ₹10 lakhs||8.95% to 12%|
Ways to Get A ₹50000 Instant Loan
Many methods are available to meet the financial needs for an instant loan of Rs 50000, some of which we will tell you about here, which are fully effective, and most of these methods are used.
The purpose for which you need a loan also matters a lot. Whether you want to fulfill your business needs or your personal needs. The method of applying for a loan is different for both.
NBFC Apps: Many Non-banking financial companies (NBFC) apps are available on Google & Apple Store. That App offers personal and credit line facilities to meet your financial needs. These apps are RBI-registered NBFC apps that provide financial services as per RBI guidelines.
Here, you can get a loan from ₹ 5000 to ₹ 5 lakh as per your need without any guarantee at interest rates starting from 14%. Before taking a loan, it is necessary to read the terms and conditions of the companies and only then apply for the loan.
Banks: The banking system has been around for a long time, and all the banks provide financial services to all their customers, availing which customers can avail of a personal loan to meet their financial needs like medical expenses, buying a new mobile, home renovation, etc.
Banks provide you with personal loans ranging from Rs 50,000 to Rs 35 lakh at low-interest rates without any guarantee, but it may take some time to get the loan, and many documents are required.
Credit Card Loan: Most people have a credit card on which they get some credit limit from the company. If you need an instant personal loan of Rs 50000 and your credit limit exceeds Rs 50000, you can transfer it to your bank account through the balance transfer facility, which you repay in easy installments with some interest.
The more you borrow, the lower your credit limit becomes, and if you repay the loan, your credit limit goes back to what it was before.
E Mudra Loan: The Government of India launched the E Mudra Loan Scheme to promote micro, small, and medium enterprises. Under this, all small businesses seeking financial assistance will be given loans ranging from ₹ 50,000 to ₹10 lakh.
Any businessman who wants money to expand his business can apply for an e-Mudra loan without guarantee. A Mudra loan of Rs 50000 can be obtained online, and to take a loan more than this, you will have to go to the bank with documents related to your business. Please read this for more information on how to take SBI e Mudra Loan.
Gold Loan: Gold lying with you is your financial asset, which you can use anytime to get a loan for your additional expenses. Many lenders provide you with loans at low-interest rates by pledging your gold. As soon as you repay your loan, you get the gold back.
Gold Loan as a small loan is the best option for those who have a low CIBIL score or who fail to provide income proof.
|Bank/NBFC||Interest Rate (per annum)||Min-Max Loan Amount|
|IOB Gold Loan||7.05%||Rs 3000 to 25 lakhs|
|Muthoot Finance Gold Loan||12.00%||Rs 1500 to 5 Crore|
|Manappuram Gold Loan||12.25%||Rs 3000 to 1 Crore|
|IIFL Gold Loan||12.00%||Rs 3000 to 50 Lakhs|
|Rupeek Gold Loan||8.88%||Higher value for your Gold|
Eligibility Criteria for ₹50000 Rupees Loan Urgently
To want ₹50000 Instant loan, you have to follow some general eligibility criteria, which are as follows:
|Age||The age of the applicant should be between 21 to 58 years.|
|Citizenship||Must be an Indian citizen.|
|Monthly Income||He must have a source of monthly income. (Minimum Monthly Income Rs 15000+)|
|CIBIL Score||The credit score must be 720 or above.|
|Employment||Only salaried and self-employed individuals can apply for this loan.|
|Work Experience||You will have to remain employed for at least 2 to 3 years.|
Documents Required for 50000 Personal Loan
Before giving the loan, the lenders check the applicant’s documents, and the loan amount is decided based on that. Therefore, before applying for a loan, you have information about all the documents.
|PAN Card||Identity Proof: Passport, Ration Card, Voter’s ID Card, Driving Licence, Aadhar Card|
|Aadhar Card||Address Proof: Aadhar Card, Passport, Voter ID Card|
|One Selfie (Photograph)||Income Proof: Income Tax Return, Salary Slip, Latest 6 Months Bank Statement, etc.|
Documents Required for E Mudra Loan ₹50000
- Duly filled application form with passport-sized photographs
- KYC documents of the applicant: Passport Voter’s ID card, Aadhar Card, Driving License, PAN card
- Proof of Business (Name, Start date & Address)
- Details of Saving or Current Account Number and branch.
- UIDAI – Aadhar Number (should be updated in Account Number)
- Community details (General/SC/ST/OBC)
- Other information for uploading like GSTN & UDYOG Aadhar
- Proof of Shop & Establishment and business registration
Fee and Charges for Rs. 50000 Instant Loan
Certain charges apply to financial services provided by NBFCs and banks, which may vary from company to company. Here are some luggage charges:
|Interest Rate||Competitive interest rate starting from 15% per annum.|
|Processing fees||2% to 5% on the loan amount.|
|Stamp Duty||According to State Law|
|Cheque Bounce||Rs 500/- each time|
|Interest on Overdue EMIs||Between 2% to 8% of the approved loan amount|
How to Get a Rs 50000 Instant Loan Online?
To apply for an Instant ₹50000 Personal Loan, you need to follow some steps:
- Install an instant loan application on your mobile phone, which can give you an urgent Personal loan of Rs 50000.
- Register using your mobile number and email ID.
- Click on the Apply button and fill out the loan form.
- Choose the amount and tenure for yourself.
- Enter your basic information and upload all the required documents.
- You have to complete the KYC process using your Aadhar card.
- Enter the details of the bank account in which you want to receive the loan amount.
- The loan amount will be transferred to your bank account within a few hours of approval.
FAQs Required for ₹50000 Personal Loan
Can you get a ₹50000 personal loan?
Yes, you can get the individual benefits immediately if you meet the eligibility criteria set by the company. Your credit score and repayment capacity also affect the loan amount and interest rate you can get.
What documents are required if I need 50000 rupees loan urgently?
To apply for a ₹50000 Rupees Loan Urgently, you must have the required documents, such as a PAN card, Aadhar card, and any one document as identity proof – passport, Aadhar card, voter ID card, and driver’s license. Any one document as Address Proof – Aadhar Card, Passport, and Voter ID Card. For income proof, you can give income tax returns, salary slips, and bank statements for the last 6-months.
What Credit Score Do I Need for A Rs. 50,000 Loan?
To get an instant loan of Rs 50000, you must have a high credit score as lenders decide your loan amount and interest rate based on your credit profile. According to us, a CIBIL score of more than 720 can increase the chances of loan approval.
How to get 50,000 rupees instantly?
Many methods are available to meet the financial needs for an instant loan of Rs 50000. It matters a lot for what purpose you need a loan, which includes your business and personal needs. You can take loans for your urgent needs through NBFC, Bank Personal Loans, Credit Card loans, and Gold loans, and through the E Mudra Loan Scheme, you can take loans for business needs.