Collateral-Free
Getting a Rs 50,000 loan is easy and stress-free with no collateral required, simplifying the process.
Rs 50,000 Personal Loan
Need funds for renovation, travel, or urgent expenses? Apply for an Rs 50,000 personal loan from RBI-licensed NBFC Hero FinCorp with flexible EMIs, minimal paperwork, and a 100% secure digital process.
Instant Approval in 10 Minutes
Tenure Up to 36 Months
Minimum Income Required Rs 15K
Calculate Personal Loan EMI
Get a Rs 50,000 Personal Loan Instantly
When sudden expenses like a medical emergency, urgent home repair, or last-minute payments come up, arranging money quickly can be stressful. That is where Hero FinCorp comes to rescue. You can apply for a Rs 50,000 Personal Loan online with Hero FinCorp and get instant approval in just 10 minutes. The online process is simple, quick and hassle-free, and requires only minimal documentation to complete your application. Plus, you get the flexibility to choose a repayment plan that suits your budget, making it easier for both salaried and self-employed individuals to manage their needs without worry.
Why Choose Hero FinCorp for a Personal Loan of Rs 50,000?
Hero FinCorp provides a Rs 50,000 personal loan that is ideal for dealing with urgent financial challenges. Here are some reasons why it is a smart choice.
1. Entirely Digital Process: The entire process from application approval to application submission is online and paperless.
2. No Security Required: You do not need to provide any form of security/collateral when applying making the application process simple.
3. Competitive Interest Rates: Interest rates starting as low as 1.58% per month meaning you can borrow affordably.
4. Instant Approval: You can get approved in 10 minutes so you do not have to wait to meet your needs.
5. Flexible Repayment: You can choose the appropriate tenure that allows monthly EMIs to be comfortable in your budget.
EMI for a Personal Loan of Rs 50,000 for up to 3 Years
Here's the calculation of a Rs 50,000 loan at an interest rate of 19% p.a. for different tenures.
| Loan Amount (Rs) | Tenure (in Months) | Interest Rate* (per annum) | Monthly EMI (Rs) | Total Interest (Rs) | Total Amount Payable (Rs) |
|---|---|---|---|---|---|
| 50,000 | 12 | 19% | 4,608 | 5,296 | 55,296 |
| 50,000 | 18 | 19% | 3,214 | 7,852 | 57,852 |
| 50,000 | 24 | 19% | 2,520 | 10,480 | 60,480 |
| 50,000 | 30 | 19% | 2,107 | 13,210 | 63,210 |
| 50,000 | 36 | 19% | 1,833 | 15,988 | 65,988 |
If you borrow a Rs 50,000 loan for 3 years, the monthly payments will be smaller and easier to handle. However, if you choose a shorter term, the EMI amount will increase, and you'll need to assess your monthly budget to accommodate it comfortably.
To help you plan, use a personal loan EMI calculator. It computes EMIs for different loan terms, allowing you to choose a tenure with affordable monthly payments.
Adjust the loan term based on your financial comfort and choose an EMI that fits your budget.
Features and Benefits of a Personal Loan of Rs 50,000
Securing a Rs 50,000 loan opens doors to financial flexibility. Explore the features and benefits to understand how a Rs 50,000 loan can empower you financially.
Flexible Repayment Tenure
These loans come with a repayment tenure of up to 36 months, ensuring flexibility to suit your needs.
Instant Approval
Get instant approval for a Rs 50,000 loan, ensuring quick access to funds without delays.
High Loan Amount
Get a Rs 50,000 loan to cover urgent expenses or achieve personal goals with financial ease.
Attractive Interest Rate
Get attractive interest rates, starting from 1.58% per month, making your loan manageable without straining your budget.
Eligibility Criteria for a Personal Loan of Rs 50,000
If you meet the requirements for eligibility for a personal loan, then getting a Rs 50,000 loan is much easier. Doing so means you have a good credit history, stable source of income, and a solid employment history. If you fulfill the criteria for personal loans, then it would enhance the chances of your application getting approved.
| Criteria | Requirement |
|---|---|
| Age | You must be between 21 to 58 years of age. |
| Citizenship | You must be an Indian citizen to apply for a Personal Loan at Hero FinCorp. |
| Work Experience | The minimum work experience for salaried employees is 6 months, and 2 years for self-employed. |
| Monthly Income | The minimum income requirement is Rs 15,000 per month. |
Documents Required for a Personal Loan of Rs 50,000
It is quick and easy to get a personal loan of Rs 50,000 without documentation. Just have the following required documents ready for salaried and self-employed individuals and get your application processed quickly.
- Aadhar Card
- Pan Card
Personal Loan Interest Rates for Rs 50,000
Securing a Rs 50,000 loan depends on existing personal loan interest rates, which impact your total repayment. Lower rates reduce costs, so comparing options is crucial for affordable borrowing.
| Loan Details | Charges/Details |
|---|---|
| Interest Rate | Starting from 1.58% per month |
| Loan Processing Charges | Minimum Processing fee is 2.5% + GST |
| Prepayment Charges | N.A. |
| Foreclosure Charges | 5% + GST |
| EMI Bounce Charges | Rs 350/- |
| Interest on Overdue EMIs | 1-2% of the loan/EMI Overdue Amount Per Month |
| Cheque Bounce | Fixed Nominal Penalty |
| Loan Cancellation | 1. Loan app does not charge cancellation charges 2. Interest amount paid is non-refundable 3. Processing charges are non-refundable |
How to Apply for a Personal Loan of Rs 50,000?
Applying for a Rs 50,000 personal loan is a simple process. Follow the instructions below to complete the personal loan application:
- 01
Visit the Hero FinCorp website or download the personal loan application
- 02
Select instant personal loan and click on apply now
- 03
Enter your mobile number and register yourself by OTP.
- 04
Select your loan amount.
- 05
KYC verification and eligibility check.
- 06
Complete online application form and then submit.
Uses of a Personal Loan of Rs 50,000
A Personal Loan of Rs 50,000 can be used for various financial needs, including:
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The monthly payment on a 50k loan depends on factors like interest rate and loan tenure. Use an online EMI calculator for precise calculations based on your specific loan terms.
The loan amount you can get depends on various factors. Lenders typically consider your salary, credit score, and existing financial commitments to determine loan eligibility.
You can use a personal loan EMI calculator online. It is a free-to-use digital tool that calculates your EMIs based on loan amount, loan tenure and interest rate.
The EMI for a 50,000 Personal Loan varies based on the interest rate and tenure. Utilise an online EMI calculator for accurate and quick calculations.
To get a Rs 50,000 Personal Loan, visit Hero FinCorp’s website or app, choose your amount, verify your KYC and income details, and submit your application online. You can get instant approval backed by quick disbursal.
The monthly payment (EMI) on a loan of Rs 50,000 will depend on the interest rate and term you select. For example, the EMI of a Rs 50,000 loan at 19% annual rate, for a 12-month loan term, will be approximately Rs 4,608.
The minimum salary requirement at Hero FinCorp to avail of a Personal Loan of Rs 50,000 is Rs 15,000 per month.
Yes. Even if you do not have a salary slip, you can submit your Form 16, ITRs or bank statements as evidence of income to apply for an instant loan for Rs 50,000.
You can apply through the Hero FinCorp website or loan app with valid documents for instant approval. It can get approved within 10 minutes if eligibility and verification standards are met.
Yes, income proof like bank statements, salary slips, or ITRs is necessary to evaluate repayment ability for a Rs 50,000 Personal Loan.
Yes, you can obtain a Rs 50000 loan amount with a low CIBIL score, but it will depend on the lender's policies and may result in a higher interest or lower amount.
Hero FinCorp loan app provides an instant approval of a Personal Loan of Rs 50K in 10 minutes with minimum documents.
No, documents for KYC and income proof are required for a Rs 50K Personal Loan whether you apply through online or through a branch in person.
Disclaimer
*Approval & Agreement: Loan approval is at Hero FinCorp's discretion. By applying, you agree to our Terms & Conditions, Privacy Policy, and Loan Agreement.
*Data Use: You consent to electronic processes and data use for loan assessment, as per our Privacy Policy.
*Security: Keep your account and device secure. Report our customer care for unauthorized activity immediately.
*Grievances: For concerns, refer to our Grievance Redressal Policy.
*EMI Payment: Refer to our T&Cs here*
*RBI Mandate: RBI requires transparent disclosures. Learn more from RBI.