Personal Loan of Rs 50,000

Personal Loans are unsecured loans that provide you with a lump sum amount that can be used for various purposes. These can include unexpected medical expenses, urgent home repairs, or sudden travel obligations. However, Personal Loans these days are only a few clicks away and can be a life saviour.

Unlike other loans that may have specific usage restrictions, Personal Loans offer flexibility, allowing you to use the funds as per your needs.

Features and benefits of a Rs 50,000 Personal Loan

How to apply for 50,000 Personal Loan?

• Visit this webpage to apply for a Personal Loan.
• Enter your personal information, such as your mobile number, and choose to provide either your Date of Birth or PAN.
• Input the OTP sent to your mobile number for verification.
• Prepare your last six month’s bank statements and salary slips for uploading.
• Complete the eKYC and Video KYC procedures for instant approval.
• The next step is to verify your Aadhaar. Enter the OTP you receive on your Aadhaar-linked mobile number and submit the details.
• Now you have to provide other important details related to your salary account, employment, and education details.
• The interface now shows you the maximum loan amount you are eligible for.
• You can move the slider to the extreme left or enter the amount of Rs 50,000, and select your tenure. You will get all the information about the interest charges along with the details of your Rs 50,000 loan EMI amount.
• After this, you need to provide your employment address once again and verify your official email address.
• Now click on "continue" and "avail now". A new screen appears saying “congratulations” and states the amount of the loan you’ve taken.
• The Loan amount will be disbursed into your account within a few hours.

Eligibility Criteria to get Personal Loan of Rs 50,000

• Minimum age: Applicants must be at least 21 years old.
• Maximum age: Applicants should not exceed 60 years at the time of loan maturity.
• Minimum net monthly income: The minimum net monthly income required is Rs 15,000 for existing Axis Bank customers and Rs 25,000 for new customers.
• Occupation: Salaried employees in public or private companies are also eligible to apply. Salaried doctors are also eligible for the loan.
• CIBIL Score: A CIBIL score between 720 and 750 is considered good.

Documents Required for Rs 50,000 Personal Loan

• Latest 3 months Bank Statements
• 3 months latest salary slips with the latest Form 16
• KYC documents: (anyone from the list)
• Passport
• Driving licence
• PAN Card
• Aadhaar Card with date of birth
• Voter's ID

Additional Documents for Salaried Individuals for Personal Loan for 50,000 include:

• Identity verification: PAN Card, passport, driving licence or voter ID card
• Residential proof: Current utility bill (within the past 3 months), passport or Licence Agreement Financial records: Bank statements from the last 3 months
• Income evidence: Salary slips from the previous 3 months
• Photographic identification: Recent passport-sized photographs

Note: This is an indicative list and the bank may ask for additional documents on a case-to-case basis

Rs 50,000 Personal Loan Fees & Charges