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
Instant Approval in 10 Minutes
Tenure Up to 36 Months
Minimum Income Required Rs 15K
50,000 Loan EMI Calculator
Get a Rs 50,000 Personal Loan Instantly
Applying for a Rs 50,000 Personal Loan can be helpful in many situations. Whether it's handling urgent expenses, unforeseen medical bills, or bridging financial gaps, a Rs 50,000 loan is a quick and accessible option.
With Hero FinCorp, enjoy the convenience of an instant Personal Loan of 50,000 with the flexibility of choosing the tenure as per your needs. Let’s explore the 50,000 Personal Loan, which provides financial stability during emergencies without affecting your budget.
Why Opt for a Personal Loan of Rs 50,000?
A Personal Loan of Rs 50,000 is an ideal solution for urgent financial needs, whether it's for medical expenses, home repairs, or unexpected bills. With a minimum income requirement of just Rs 15,000, it is accessible to a wide range of borrowers. You can choose a flexible repayment tenure of up to 36 months, making it easier to manage your monthly EMIs. The loan comes with an interest rate starting from 19% per annum. Quick approval and hassle-free processing make this loan a convenient choice for instant financial support.
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
Securing a Rs 50,000 loan is easier when you meet the personal loan eligibility criteria, including a good credit score, stable income, and employment history, improving your approval chances.
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
To secure a Rs 50,000 Personal Loan smoothly, you require minimum documentation. Here are the documents required for a Personal Loan for both salaried and self-employed individuals.
Documents required for Salaried
Mandatory Documents
Duly filled application form, Passport-size photograph
Identity Proof
Driving License, Passport, PAN Card, Aadhaar Card (Any One)
Address Proof
Driving License, Passport, Aadhaar Card, Ration Card, Utility Bill (Any One)
Ownership Proof
Residence Ownership Proof (Electricity Bill, Maintenance Bill, Property Document)
Income Proof
Last 6 Months Salary Slips, Bank Statements, and Form 16
Documents required Self-Employed
Mandatory Documents
Duly filled application form, Passport-size photograph
Identity Proof
Driving License, Passport, PAN Card, Aadhaar Card (Any One)
Address Proof
Driving License, Passport, Aadhaar Card, Ration Card, Utility Bill (Any One), Office Address Proof (if applicable)
Ownership Proof
Business Existence Proof (Tax Registration, Shop Establishment Proof, Company Registration Certificate)
Income Proof
Last 6 Months' Bank Statements and ITR for 2 Years
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 straightforward process, ensuring quick access to the funds you need.
- 01
Visit the Hero FinCorp website or install the personal loan app
- 02
Go to the instant personal loan page and click ‘apply now’
- 03
Enter your mobile number and verify with the OTP received
- 04
Choose the loan amount you need
- 05
Verify your KYC details to check income eligibility
- 06
Click ‘Submit’ to complete your application
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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Frequently Asked Questions
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 1 lakh 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.