How to Apply for a ₹50,000 Personal Loan with LoanTap
Published on : September 05, 2023

Are you in need of immediate financial assistance? Obtaining a 50,000 personal loan can be a great step to address your financial requirements. A personal loan is a great way to fulfil your fund requirements. LoanTap is a trusted lending platform that has a hassle-free application process to help you secure the funds you need swiftly and efficiently. Here, we’ll walk you through the necessary information you’ll need to successfully apply for a ₹50,000 personal loan through LoanTap, ensuring a smooth and hassle-free experience.

Rs. 50,000 Personal Loan Interest Rates and Charges

LoanTap offers loans with attractive interest rates which can be personalised according to your requirements. There are no hidden charges.

Personal Loan Interest Rate14% onwards
Processing FeesUp to 2% of the loan amount plus applicable taxes
Loan AmountRs. 50,000 to 10 Lakh
Stamp Duty0.1% of the loan amount
Loan Prepayment Fees4% + GST if foreclosed within 180 days from the date of disbursement post-cooling-off period
Charges for Late Prepayment24% per annum plus applicable  taxes
Loan Tenure6 months to 60 months

Eligibility Criteria for Rs. 50000 Loan

NationalityIndian Citizen
Employment CriteriaApplicant must be a salaried individual employed with a reputable private or public firm or a self-employed professional
AgeThe minimum age of the applicant should be 21 years, but it should not exceed 58 years
IncomeThe minimum monthly income of the applicant should be Rs. 30,000
Credit ScoreCIBIL score should be 750 or more

Documents Required for Rs. 50000 Personal Loan

ID ProofPAN Card / Aadhaar Card / Passport / Driving Licence / Voter ID
Proof of ResidencePassport / Driving License / Electricity Bill / Telephone Bill / Aadhaar Card / Voter ID
Income ProofSalary Slip of the last 3 months / Bank Statement
Photograph2 passport-size photographs

How to Apply for Rs. 50000 Personal Loan

  • Visit the official website of LoanTap or download the official app.
  • On the home page, click on the ‘Apply Now’ tab to apply for an instant personal loan.
  • Select your employment profile. Select if you are a business owner, self-employed, or a salaried person.
  • Select the purpose of your loan, like home loan, personal loan, wedding loan, etc. and click on continue.
  • Enter your email ID and current city of residence.
  • Enter all additional information, including monthly income, active loans (if any), and type of current residence.
  • Upload the necessary paperwork, such as bank statements, salary slips, and property ownership papers, etc.
  • Enter your PAN Card number and birthdate.
  • Once all the required details are entered, the information will be verified, and after approval, your loan amount will be sanctioned immediately.


Applying for a ₹50,000 personal loan with LoanTap is a very easy process that offers financial flexibility to meet immediate needs. With a user-friendly interface and simple application requirements, LoanTap provides a viable solution for those seeking quick and convenient access to funds. The process is designed to be efficient and transparent, ensuring a seamless experience for applicants. Whether it’s for emergencies, debt consolidation, or any other financial necessity, LoanTap’s application process provides a reliable avenue to secure the funds you require.