Do you need a 50000 loan urgently? If so, Piramal Finance is the right choice for you! With an instant personal loan of Rs 50000 from us, you can cover several expenses or debts at once. Plus, with our fully digital application procedure, getting a personal loan has become easier than ever.
From medical expenses to college/school fees to buying a device, you can use a personal loan of 50000 for many purposes. With an affordable interest rate, flexible loan tenure, and seamless application process, Piramal Finance makes it easier, more attractive, and more convenient for you to get a personal loan in no time.
How to get an Instant 50000 Personal Loan on the same day?
You can get an instant 50000 loan on the same day at Piramal Finance with a few simple steps.
You can easily apply for a 50000 rupees loan at Piramal Finance. Simply follow these steps:
Step 1: Click on Apply Now and start your 50000 Personal Loan application
Step 2: Enter your mobile number linked to your bank account.
Step 3: Enter the OTP received on your mobile number.
Step 4: Enter the required document and verify the same.
Step 5: Bank account verification.
Step 6: Income Verification.
Step 7: Check the Loan Final Offer, Accept, and continue the final process.
After completing the final process within 24 hours, the Rs.50,000 will get credited to your verified bank account.
Key Features of the Personal Loan
A personal loan of Rs. 50,000 is a credit facility that comes with plenty of perks and features for all its customers. These features and benefits at Piramal Finance that aims to streamline the customer journey with us are as follows:
Digital Loan Processing
You can use the Piramal Finance website anytime, anywhere, to apply for an instant 50000 personal loan within minutes. Thanks to a fast, seamless online verification process, your loan amount gets disbursed on the same working day.
Seamless Loan Application
At Piramal Finance, you won’t have to wait for too long for the personal loan application. You only need to complete the application form online upload the requisite documents, and get things done within minutes. That’s how fast a loan application process has become in today’s digital era
Minimal Paperwork
It can consume a lot of time to collect and manage all the requisite paperwork until the loan procedure is complete. With Piramal Finance’s digital personal loan, there’s minimal documentation requirement – which actually becomes paperless for more convenience – and real-time verification.
No Need for Collateral
Piramal Finance does not need collateral for an urgent loan of 50000. We understand that emergencies can happen to anyone and thus avoid any time-consuming aspect that can slow down the loan disbursal. We also provide loans to people with a low credit scores
Affordable Interest Rate & Flexible Tenure:
The interest rate for a 50000 loan at Piramal Finance is set at 12.99*%pa, which is reasonable and competitive in the market. The low-interest rate makes your EMI lesser and more convenient to repay. Furthermore, we offer a maximum loan repayment term of five years, which can be extremely beneficial in terms of obtaining low EMIs and balancing your finances.
EMI Calculation
Below is a table representing the personal loan 50000 EMI for 5 years, 4 years, 3 years, 2 years, and 1 year at a standard interest rate of 12.99*%pa. So, check it out:
-
Labels:
- Year
- Principal Amount
- Interest Payable
- Total Amount
- Avg. Monthly EMI
- Outstanding Balance
-
Row 1:
- 1
- ₹ 8,943
- ₹ 4,710
- ₹ 13,653
- ₹ 1,138
- ₹ 41,057
-
Row 2:
- 2
- ₹ 8,367
- ₹ 5,285
- ₹ 13,652
- ₹ 1,138
- ₹ 32,690
-
Row 3:
- 3
- ₹ 9,522
- ₹ 4,130
- ₹ 13,652
- ₹ 1,138
- ₹ 23,168
-
Row 4:
- 4
- ₹ 10,836
- ₹ 2,816
- ₹ 13,652
- ₹ 1,138
- ₹ 12,332
-
Row 5:
- 5
- ₹ 12,332
- ₹ 1,320
- ₹ 13,652
- ₹ 1,138
- ₹ 0
Factors Responsible for ₹50000 Personal Loan Interest Rate
The interest rate for a personal loan of 50,000 typically starts from 12.99*%pa, and the maximum repayment tenure is five years. The final 50000 personal loan interest rate you get depends on factors like your monthly income, employment type, work experience, and age.
- Age:
- The minimum age required to apply for a personal loan is 21 years. However, the maximum age at which a person can apply for an instant personal loan is set to be 58 years. If you’re a younger applicant, your ability to repay the loan will be higher than any old applicant. Thus, a younger applicant gets entitled to a lower interest rate than any older applicant.
- Credit Score:
- An applicant with a 750 or above credit score is given more priority than other applicants. An individual with such a credit score is more creditworthy, and thus, their chances of getting a personal loan at low-interest rates increase significantly. However, Piramal Finance provides loans with affordable interest rates to people with low credit scores.
- Employment Status:
- Applicants of a 50k loan working in public sector undertakings and private sector companies or being self-employed with a minimum of one year of business activity are considered eligible for an instant personal loan. Individuals with higher income certainty and job stability are given more priority and offered lower interest rates than others.
- Work Experience:
- A salaried individual with a minimum of two years of work experience and a self-employed person with at least a year of active business profile is considered highly eligible for a 50000 loan. The more your work experience, the more your capability to repay the loan, and the lesser your interest rate.
EMI Calculation
Below is a table representing the personal loan 50000 EMI for 5 years, 4 years, 3 years, 2 years, and 1 year at a standard interest rate of 12.99*%pa. So, check it out:
Documents Required for Availing of a Personal Loan of Rs. 50000
When applying for a loan of Rs. 50,000, you need to submit some essential documents to validate your ID, address and income. This table outlines all the documents required for availing of a personal loan of Rs. 50,000:
-
Labels:
- Document Type
- For Self-Employed Individuals
- For Salaried Individuals
-
Row 1:
- Photo ID Proof
- Aadhaar card, driving license, passport, PAN card, and voter ID
- Voter ID card, PAN card, passport, and Aadhaar card
-
Row 2:
- Residence Address Proof
- Aadhaar card, passport, voter ID card, utility bills, driving license
- Voter ID card, passport, Aadhaar card, driving license, utility bills
-
Row 3:
- Office Address Proof
- GST Registration Certificate
- Not Applicable
-
Row 4:
- Income Proof
- P/L account and balance sheet for the previous three years, ITRs of the last three years, bank account statement of business account
- Bank account statement of salary account, salary slip of the last three months, Form 16
Documents Required for Availing of a Personal Loan of Rs. 50000
When applying for a loan of Rs. 50,000, you need to submit some essential documents to validate your ID, address and income. This table outlines all the documents required for availing of a personal loan of Rs. 50,000:
Fees and Charges for Personal Loan of ₹50000
The fees and charges for an instant loan of 50000 at Piramal Finance are more reasonable and competitive than others. Here is a table representing the fees and charges for a personal loan
-
Labels:
- Features & Fees
- Details
-
Row 1:
- Personal Loan Interest Rates
- {plintrestrate}* p.a. onwards
-
Row 2:
- Loan Amount
- ₹ 25,000 to ₹ 5,00,000
-
Row 3:
- Processing Fees
- Up to 5% plus applicable taxes
-
Row 4:
- Loan Tenure
- 3 - 60 months tenure
-
Row 5:
- Prepayment Charges
- ₹ 0
-
Row 6:
- Foreclosure Charges
- ₹ 0
-
Row 7:
- Stamp Duty
- At actuals (as per state)
-
Row 8:
- Cheque Bounce Charges
- ₹ 500 plus applicable taxes
-
Row 9:
- EMI Bounce Charges
- ₹ 500 plus applicable taxes
-
Row 10:
- EMI Pickup/Collection Charges
- ₹ 250 per visit plus applicable taxes
-
Row 11:
- Cash Collection Charges
- 1% of collection amount of ₹ 50,000 and above in cash + taxes
-
Row 12:
- Change of Loan Repayment Mode
- ₹ 500 plus applicable taxes
-
Row 13:
- Loan Cancellation after Disbursement
- Interest accrued & due plus applicable taxes
-
Row 14:
- Loan Repayment Schedule (applicable for physical copies only)
- ₹ 500 plus applicable taxes
-
Row 15:
- Change of Loan Repayment Mode
- ₹ 1000 plus applicable taxes
Fees and Charges for Personal Loan of ₹50000
The fees and charges for an instant loan of 50000 at Piramal Finance are more reasonable and competitive than others. Here is a table representing the fees and charges for a personal loan
Different Types of Personal Loans
Home Improvement Loan
You can use the funds from a personal loan to complete renovations in your home. Moreover, you can also use the funds to expand your home.
Wedding Loan
Indian weddings can be expensive, but the funds from a personal loan will help you deal with the expenses
Travel Loan
If you are willing to travel to an exotic location, applying for a personal loan is the way to go.
Car Loan
You can buy your dream car with a flexible car loan, offering freedom of choice and fixed monthly payments.
Emergency Loan
Health insurance may not cover family medical emergencies. Emergency personal loans can help with medical crises.
Festival Loan
The festive season often comes with various expenses, which online insta loans can help cover.
Loan for Women
Empower yourself with a specially designed quick personal loan for women. It provides financial support for various needs with competitive interest rates and flexible repayment options.
Loan for Salaried Employees
Unlock financial flexibility with a personal loan designed exclusively for salaried employees. Get the loan quickly and conveniently.
Education Loan
You can borrow finance online to pay for housing and food while studying at a university in another city or country.
Personal Loan for Bike
Don't wait any longer to own your dream bike. Apply for a personal loan for a two-wheeler and get instant approval.
Get a Personal Loan from the Nearest Piramal Finance Branch
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Frequently asked questions
With real-time KYC document verification, you can get a Rs. 50,000 personal loan using your Aadhar card. Linking your PAN Card and Aadhar card to your mobile number simplifies verification, enabling smooth communication and speeding up loan disbursal.