How To Get A Loan Of 50,000 Online?

By Author: Ankit Verma
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How to get a loan of 50,000 online?

Due to the ongoing Covid-19 pandemic, the increase in loss of jobs and economic setbacks is evident in most Indian sectors. The loss of employment has encouraged people to opt for small cash loans without taking any excess repayment burden.

Instant loan apps and official credit websites are on an upsurge to provide personal loans online of Rs.50,000 and above. People facing financial shortages and emergency cash situations rely on instant loans online as they are less challenging to repay, involve less formalities, and disbursed within 24 to 48 hours.

Several financial institutions and NBFCs have come forward to provide a loan of 50,000 and above at an affordable rate of interest and customize loan repayment tenure. Applying for an instant personal loan of Rs.50,000 online is a collateral-free procedure, which does not need any guarantor or security from the borrower.

Moreover, there are other benefits linked, while applying to get a loan of 50,000 online.

How ...
... to apply for a 50,000 loan online?

Being an unsecured loan, it is a simple and hassle-free process to apply for a 50,000 loan online:

• Visit a personal loan lender’s website or download an instant lone app from Google Play Store on your Android phone

• Check your personal loan eligibility using the personal loan eligibility calculator online. Enter your income, work experience, expenses, and age to know the eligibility status in seconds.

• Fill in the application form with personal details and other required details

• After the mandatory documents and applications are verified in real-time, the loan amount of 50,000 will get disbursed directly in the registered bank account.

What are the benefits of getting a small cash loan of 50000 online?

The online method of availing loans is concise and precise.

Below are the features and benefits of availing a limited amount loan of 50,000 online:

Flexible Repayment – The EMI calculator within the app enables the borrower to customize their loan tenure, interest rate, and EMIs. Once you know the EMI amount, you can plan the repayment in advance.

Affordable Interest Rate – Online personal loans offer affordable interest rates and low processing fees. The lender is aware that you are already facing financial issues and, therefore, maintains a standard of affordable interest rate so that EMIs don’t get heavy to repay.

Quick Disbursal – When borrowers comply with all the mandatory requisites as mentioned in the instant loan app, the disbursal is instant within 24 hours of a working day.

Collateral Free – The benefit of taking a loan of 50,000 is that it does not require any security or guarantor against the loan amount, being an unsecured loan type.

Paperless and hassle-free documentation – Instant loan apps do not have a lengthy procedure. Instead, all the document verification is done online in a paperless format that reduces the loan processing time.

Eligibility criteria required to get a loan of 50000 online

Borrow a loan of 50,000 online fulfilling primary eligibility criteria as follows:

Age – Borrowers should belong to an age group between 21 to 58 years.

Work experience – Borrowers should be employed with a public or private organization with approximately six months experience or a total of 1-year experience for self-employed individuals.

Income Proof – Borrowers should earn a minimum monthly income of Rs.15,000

Citizenship – Borrower should be an Indian citizen

Documents required to get a Loan of 50,000 Online

Get a loan of 50000 online with authentic identity and income proof documents for quick loan approval:

Identity proof – Aadhar card/PAN card/Voter’s ID/Smart card driving license

PAN card – This reflects a borrower’s financial history and ability to repay the loan, so lenders have made it mandatory.

Hence, whatever the financial urgency is, the power of the instant loan app gives borrowers the freedom to avail quick money of Rs.50,000 or more in a single day, without any hassles.