How To Get ₹50,000 Instant Personal Loan Online?

Personal Loans

Looking for a Rs.50000 personal loan? You can apply online and get your personal loan instantly approved! Personal loans are unsecured loans, i.e. you do not need to pledge collateral. And, there’s no restriction on end usage. Read on to know how to get Rs. 50000 personal loan instantly online, eligibility criteria and documents required.

Where Can You Use a Rs.50,000 Personal Loan?

Rs.50000 can come in handy for many purposes during a financial need. The following are some of the purposes that can be fulfilled with Rs. 50000 instant personal loan:

• School or college fees
• Sudden trip
• Purchasing a gadget
• Unplanned medical expenses 

Apart from the listed usage, you can also get Rs.50,000 personal loan for many other purposes as there is no restriction on the end-user.

How to Apply for Rs. 50,000 Loan?

Applying for a personal loan of Rs. 50000 can be done in a few easy steps. Just keep your documents ready and go through the following steps:

Step 1: Visit the website of the loan provider of your choice.

Step 2: Go to the personal loan section and click on ‘Apply Online’.

Step 3: Add the basic required details and provide a valid phone number.

Step 4: Fill in further details regarding your profession and earnings.

Step 5: Upload the documents as required by the provider and submit the application form.

Upon successful verification of the details, a representative of the loan provider will reach out to you to aid you further with the loan process. 

Eligibility Criteria of Rs. 50,000 Personal Loan 

Here are the basic eligibility criteria you have to meet to be able to avail ₹50,000 personal loan:

For Salaried Individuals

For Self-employed Individuals

Note that all these requirements may vary from one lender to another. Some of these parameters might not be mandatory. However, it is better to pay heed to the criteria for prompt approval. Remember, while planning to avail a ₹50,000 personal loan from Navi, you need to make sure that your credit profile is decent enough to help you get such unsecured loans instantly. For this, it is necessary to have a good repayment track record as well. 

Also Read: Get Instant Cash Loan in 1 Hour Without Documents: Interest Rate & Eligibility

Documents Required to Apply for Rs. 50,000 Personal Loan 

Apart from meeting the eligibility criteria, applicants need to make sure the necessary documents are ready with them before applying. Since a personal loan is an unsecured loan, the verification of certain documents is extremely important even if you are availing of an instant ₹50000 personal loan. 

Here is a list of documents that you need to keep with you when applying for a personal loan:

• Identity proof (driving license/Aadhaar card/voter ID card, etc.)
• Bank statements (last 6 months)
• Salary slips (last 3 months)
• Address proof (passport/driving license/ration card/gas or electricity bill, etc.)
• ITR or Form 16
• Proof of business vintage (registration certificate, GST number, etc.)
• Profit and loss account and balance sheet along with income computation of the past 2 years
• Clearance certificate or IT assessment
• TDS certificate, IT challans or Form 26AS

How to Get Rs. 50,000 Personal Loan with Navi?

If you are looking for an instant personal loan and planning to obtain it from Navi, here are the steps that you will have to follow:

1. Download the Navi App
2. Click on the “Apply” tab
3. Fill in your basic details:
   • Full Name
   • Age
   • Marital Status
   • Pin code of residence
4.  Next, fill in employment and income details
5. Enter your PAN number

6. Your loan will be instantly processed depending on your credit score and income details. 

7. Your loan would be processed within 10 mins.

If you are looking for a ₹50,000 personal loan urgently, Navi could be the best option. Assess your monthly instalment obligations before making a commitment. 

Also Read: How To Apply For Rs.20,000 Instant Personal Loan In India: Check Eligibility, Features & Benefits

Benefits and Features of Navi Personal Loan 

Here is a list of benefits and features of Navi personal loan:

• Flexible repayment terms – This particular type of credit provides the convenience of choosing a repayment tenure of 12-60 months. This way, the monthly instalment amount inevitably becomes affordable and easy for borrowers to manage.
• No collateral requirement –Since a personal loan is an unsecured loan, you do not have to pledge your asset as collateral to obtain a sizable amount. Financial institutions provide access to substantial funds instantly to help borrowers meet urgent cash requirements. Apart from these, owing to the no end-use restrictions feature, one can utilise the loan amount to meet all types of financial requirements. Certain customised plans are also available for such instant personal loans of ₹50,000. 

Final Word

Now that you know how to qualify and apply for a ₹50,000 personal loan, make sure you consider other important factors as well. These factors can include selecting the most suitable lender and determining exactly how much amount you require. Plan your EMIs so that you can repay the loan without facing any financial difficulties. For hassle-free loan disbursement, download the Navi app now!

FAQs on Rs.50000 Personal Loan

Before you go…

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Disclaimer: This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information, and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.