Max. Loan Amt.
Up to ₹75.00 Lakh
Rate of Interest
9.98% - 19.50%
Tenure up to
1 - 5 Years
Processing Fee
₹0.5% – 4%
Quick DisbursalLow Interest Rates
Interest Rates on Rs 50,000 Loan
Personal loan interest rates for Rs 50,000 usually start from 9.98% p.a. with repayment tenures of up to 5 years. Some public sector banks may offer lower rates and longer tenures. The actual rate you get depends on your credit score, income, job profile, and employer.
Personal Loan EMI Calculator
Total Repayment = Principal + Interest
Monthly EMI
Rs. 0
Total Interest
Rs. 0
Total Repayment
Rs. 0
Fees and Charges You Should Know Before Applying
| Fee/Charge | Details |
|---|---|
| Processing Fee | 0.5% – 4% of loan amount |
| Prepayment/Foreclosure |
Floating Rate: Nil Fixed Rate: 2% – 5% of outstanding principal |
| Late Payment Charges | 2% per month (24% p.a.) |
| Stamp Duty | As per actuals |
| Loan Cancellation | Around ₹3,000 |
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Apply NowEligibility Criteria
Most lenders consider these basic requirements:
- Age: 18 – 60 years
- Credit Score: 750+ preferred
- Income:
- Salaried: Minimum ₹15,000/month
- Self-Employed: Minimum ₹3 – 5 lakh annually
- Work Stability: At least 1 year in current job or business
Documents Required for Rs 50,000 Personal Loan
For All Applicants
- Filled application form with photo
- ID proof (PAN, Aadhaar, Voter ID, or Driving License)
- Signature proof
- Address proof
For Salaried Applicants
- Last 3 months’ salary slips
- ITR or Form 16
For Self-Employed Applicants
- ITR of last 2 years with P&L account, balance sheet, and income details
- Business proof (Form 26AS, Income Tax Challan, or TDS certificate – Form 16A)
Apply for Best 50,000 Personal Loan with MybankingTips
Apply NowTips to Get the Best Deal on a Rs 50,000 Personal Loan
- Maintain a Good Credit Score
Lenders usually prefer applicants with a credit score of 750 or above. A higher score improves your chances of getting lower interest rates.
- Compare Multiple Lenders
Don’t accept the first offer you get. Use online platforms like Paisabazaar to compare interest rates, fees, and repayment terms across banks and NBFCs.
- Check for Hidden Charges
Apart from interest, lenders may levy processing fees, late payment charges, or foreclosure fees. Read the terms carefully before applying.
- Choose the Right Tenure
A longer tenure reduces EMIs but increases total interest paid. Pick a tenure that balances affordable EMIs with lower interest costs.
- Apply Online for Faster Approval
Online applications with Aadhaar eKYC and digital verification save time and can get you faster loan approval and disbursal.
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