Interest rates vary across lenders based on creditworthiness, income, and repayment history. Below are the interest rate ranges for ₹50,000 loans from top financial institutions:
Lender
Annual Interest Rate
Lender
Annual Interest Rate
LTFS
12% to 25% p.a
PREFR
17% to 30% p.a
Aditya Birla
14% to 30% p.a
RING
23% to 33% p.a
FIBE
20% to 30% p.a
CASHE
14% to 30% p.a
NIRO
13% to 30% p.a
Bajaj Finserv
Starts at 10.5% p.a
InCred Finance
14% to 39%
Tenure and Loan Amount
The loan tenure for ₹50,000 personal loans ranges from 3 months to 60 months, depending on the lender.
Below is the complete information on lender-wise loan amounts, tenure and interest rates for personal loans offered by our lending partners
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Lender Name
Interest rates (Min-Max)
Tenure (Min -Max)
Amount (Min -Max)
LTFS
12% to 25% p.a
12 to 48 months
₹50,000 to 10 lakhs
Aditya Birla
14% to 30% p.a
18 to 36 months
₹50,000 to 5 lakhs
FIBE
20% to 30% p.a
3 to 36 months
₹8,000 to 5 lakhs
NIRO
13% to 30% p.a
6 to 60 months
₹20,000 to 5 lakhs
PREFR
17% to 30% p.a
12 to 36 months
₹50,000 to 3 lakhs
RING
23% to 33% p.a
9 to 24 months
₹30,000 to 1 lakh
CASHE
14% to 30% p.a
6 to 18 months
₹30,000 to 4 lakhs
Bajaj Finserv
Starts at 10.5% p.a
12 to 96 months
₹2,00,000 to 50 lakhs
InCred Finance
14% to 39% p.a
12 to 60 months
₹50,000 to 10 lakhs
Eligibility Criteria
To apply for a ₹50,000 personal loan, you must meet the following conditions:
age
Applicants should be between 21 and 60 years old.
Employment
Both salaried individuals and self-employed professionals are eligible.
Income
Applicants must meet the lender’s minimum income requirements.
Credit Score
A good credit score i.e. one above 750 increases the chances of loan approval.
For business loan, the business vintage should be a minimum 2 years and applicant must be between 23 -70 years of age.
Evaluate prepayment options to reduce interest burden.
FAQs
Can I get a ₹50,000 personal loan instantly?
Yes, some lenders offer instant loans with digital processing, subject to eligibility.
What is the minimum salary required for a ₹50,000 personal loan?
Most lenders require a minimum salary of ₹18,000 to ₹25,000 per month.
Can I prepay my ₹50,000 loan early?
Yes, but some lenders may charge a prepayment fee.
How can I check my loan eligibility?
Use an online eligibility calculator by entering your income, employment details, and credit score.
Can I apply for a ₹50,000 loan if I am on probation at my job?
Yes, some lenders approve loans for employees on probation or with less than 6 months in the company, but you may need a higher credit score or apply through an NBFC instead of a bank.
Can I apply for a ₹50,000 loan if I am self-employed?
Yes, self-employed individuals can apply, but they need to submit:
Income tax returns (ITR) for the last 2 years
Bank statements for 6 months
Business registration proof (if applicable)
Can I apply for a ₹50,000 personal loan without income proof?
Yes, some lenders offer loans without salary slips, but they may:
Check bank statements for the last 6 months.
Offer the loan at a higher interest rate.
Require collateral or a guarantor.
Can students apply for a ₹50,000 loan?
Students can apply with a co-applicant, such as a parent or guardian.
Can I get a ₹50,000 loan without a credit score?
Some lenders offer loans to individuals with no credit history, but interest rates may be higher.
Will I get a ₹50,000 loan with a bad credit score?
Some lenders may approve loans with a credit score below 650, but they might:
Charge higher interest rates.
Offer a shorter tenure.
Require a co-applicant or guarantor.
How long does it take to receive a ₹50,000 loan?
Most lenders disburse the loan within 24 to 48 hours after approval.
Can I get a ₹50,000 loan if I have an existing loan?
Yes, but lenders will evaluate your repayment capacity before approving another loan.
Can I use a ₹50,000 personal loan for medical or travel expenses?
Yes, personal loans have no restrictions on usage. You can use the loan for:
Medical emergencies.
Travel and holiday expenses.
Wedding costs.
Home repairs or renovations.
Some lenders even offer travel-specific and medical emergency personal loans with quicker approvals.
Can I use a ₹50,000 loan for credit card repayment?
Yes, many borrowers take personal loans to consolidate credit card debt, as personal loan interest rates are usually lower than credit card interest rates (which can go up to 36-48% per annum).
What happens if I miss an EMI payment?
Missing an EMI payment can result in:
Penalties.
Higher interest rates.
Negative impact on your credit score.
Can I get a ₹50,000 loan with a guarantor?
Some lenders may allow a guarantor for applicants with lower credit scores or unstable income.Apply today for a ₹50,000 personal loan and meet your financial needs with ease!
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The overall experience with Moneycontrol was really good. I applied for an online personal loan and the service was very quick. The entire process was fast and smooth, and the loan was sanctioned without any hassles.
Parineeta Mukherjee
I would like to thank Moneycontrol, few days back I met with an accident and I didn’t have much money to pay in one go. So, I took an instant cash advance from Moneycontrol. They helped me to clear all the medical bills in just 10 mins!
Suresh V Rangnathan
The overall experience with Moneycontrol was really good. I applied for an online personal loan and the service was very quick. The entire process was fast and smooth, and the loan was sanctioned without any hassles.
Parineeta Mukherjee
I would like to thank Moneycontrol, few days back I met with an accident and I didn’t have much money to pay in one go. So, I took an instant cash advance from Moneycontrol. They helped me to clear all the medical bills in just 10 mins!
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