Personal Loan for 50000 Salary
If you are looking for a personal loan and your salary is around Rs 50,000, Axis Bank is the ideal banking partner you can choose. Personal loans are unsecured loans that help you to access immediate funds.
Depending on your total monthly income and expenditure, Axis Bank determines the loan amount you are eligible for. Here are all the details you need to know about getting a personal loan with a Rs 50,000 salary.
Features and benefits of Personal Loan for Rs 50,000 salary
Paperless application process and instant approval:
You won’t have to wait long to find out if your loan request has been approved. By applying for 24x7 Personal Loan online and completing the video KYC process, your loan application gets approved instantly
without any documentation and paperwork.
Funds in 24 Hours:
Urgent financial needs can't wait, and neither should you. Once your loan is approved, Axis Bank endeavours to disburse the funds directly into your account within 24 hours.
Versatile Tenor:
Flexibility is key when it comes to repayment. Axis Bank offers you to choose a range of repayment between 12 to 84 months. This helps you manage monthly EMIs and helps you in budgeting.
Pre-approved offers:
Axis Bank values you as an existing customer. Enjoy pre-approved offers with more favorable terms, tailored based on your credit history and banking behavior.
No collateral required:
Axis Bank offers unsecured personal loans, meaning you can borrow the funds you need without securing the loan against your assets.
No hidden fees:
You’ll be fully informed about any fees associated with your loan upfront, ensuring there are no surprises. This clarity helps you to plan and manage your finances more effectively.
Easy documentation:
With Axis Bank, applying for a personal loan is straightforward and requires only a few basic documents like proof of identity, address, and income. This process makes it easier for you to apply without any stress.
Simplified loan management:
Managing your loan is hassle-free with Axis Bank's digital banking solutions. Access your loan account details, track repayments, and efficiently manage your loan online, giving you control and peace of mind throughout
the loan tenure.
Eligibility criteria for personal loan with a salary of Rs 50,000
- Applicants must be at least 21 years old.
- Applicants should not exceed 60 years at the time of loan maturity.
- Minimum net monthly income: Rs 15,000 for existing Axis Bank customers and Rs 25,000 for non-Axis Bank customers.
- Salaried employees are eligible to apply for the personal loan.
- A CIBIL score of 700+ is preferred.
Documents required for Personal Loan for Rs 50,000 salary
You can verify income online during the digital application process. However, here is a list of documents to be kept ready to avail of a personal loan online with a salary of Rs 50,000:
- Last six months' bank statements.
- Recent three months’ payslips and the latest Form 16.
- One KYC document: Passport, Driving Licence, PAN Card, Aadhaar card or Voters ID.
Note: This is an indicative list, and the bank may ask for additional documents on a case-to-case basis
How to apply for a personal loan with a salary less than Rs 50,000?
If your salary falls between Rs 15,000 and Rs 50,000, you can easily apply for a loan with Axis Bank. Here are the steps to apply for a personal loan:
- Last six months' bank statements.
- To start your loan application, click on this link.
- Enter your mobile number, PAN card, Aadhar details.
- Verify income online or upload six-month bank statements and salary slips.
- Complete Video KYC.
- Provide basic employment details.
- Choose personal loan amount and tenure. You will be able to see the details of your personal loan EMI. Now, click on "avail now".
- Congratulations! Your loan application has been accepted, and the money will be transferred to your account within a few hours.
For offline application, you can visit the nearest Axis Bank branch and contact a bank representative. They will assist you in availing a personal loan based on your specific requirements.
