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.
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:
After completing the final process within 24 hours, the Rs.50,000 will get credited to your verified bank account.
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:
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:
|Year||Principal Amount||Interest Payable||Total Amount||Avg. Monthly EMI||Outstanding Balance|
|1||₹ 8,943||₹ 4,710||₹ 13,653||₹ 1,138||₹ 41,057|
|2||₹ 8,367||₹ 5,285||₹ 13,652||₹ 1,138||₹ 32,690|
|3||₹ 9,522||₹ 4,130||₹ 13,652||₹ 1,138||₹ 23,168|
|4||₹ 10,836||₹ 2,816||₹ 13,652||₹ 1,138||₹ 12,332|
|5||₹ 12,332||₹ 1,320||₹ 13,652||₹ 1,138||₹ 0|
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.
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 60 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.
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.
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.
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.
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 10 lakh:
|Document Type||For Self-Employed Individuals||For Salaried Individuals|
|Photo ID Proof||Aadhaar card, driving license, passport, pan card, and voter ID||Voter ID card, Pan card, passport, and aadhaar card|
|Residence Address Proof||Aadhaar card, Passport, Voter ID card, utility bills, driving license||Voter ID card, Passport, aadhaar card, driving license, utility bills|
|Office Address Proof||GST Registration Certificate||Not Applicable|
|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|
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:
|Loan Processing Charges||Up to 4% of the loan amount, along with applicable taxes|
|Interest Rate||Starting at 12.99*% p.a.|
|Cheque Bounce Charge||Rs. 500 + applicable taxes|
|Interest on Overdue EMIs||Rs. 500 + applicable taxes|
|Pre-closure||4% of the loan amount + applicable taxes|
|Loan cancellation||Interest accrued & due + applicable taxes|
The processing time for an instant loan of 50000 at Piramal Finance is 24 hours. After the loan documents are verified and approved, we will process the loan within 24 hours.
Yes, you can get a 50,000 loan without security or any collateral at Piramal Finance. We will assess your creditworthiness and your capability to repay the loan within the tenure. If you’re creditworthy, we won’t ask for any collateral and will disburse the amount with an easy EMI schedule.
Your credit score plays an influential role in deciding your eligibility for an instant 50k loan. Piramal Finance, on the other hand, provides financing to individuals with low credit.
Without documents, your urgent loan of 50,000 application will not get approval. Documents like your photo ID, income proof, and address proof are crucial parts of any loan application process.
Piramal Finance offers a simple and convenient application process for an instant loan of 50k, involving minimal documentation requirements. What makes it a leading choice for consumers is that your loan gets approved within a couple of hours, enabling you to meet your urgent requirements without hassle.