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 Rate | 14% onwards |
| Processing Fees | Up to 2% of the loan amount plus applicable taxes |
| Loan Amount | Rs. 50,000 to 10 Lakh |
| Stamp Duty | 0.1% of the loan amount |
| Loan Prepayment Fees | 4% + GST if foreclosed within 180 days from the date of disbursement post-cooling-off period |
| Charges for Late Prepayment | 24% per annum plus applicable taxes |
| Loan Tenure | 6 months to 60 months |
Eligibility Criteria for Rs. 50000 Loan
| Nationality | Indian Citizen |
| Employment Criteria | Applicant must be a salaried individual employed with a reputable private or public firm or a self-employed professional |
| Age | The minimum age of the applicant should be 21 years, but it should not exceed 58 years |
| Income | The minimum monthly income of the applicant should be Rs. 30,000 |
| Credit Score | CIBIL score should be 750 or more |
Documents Required for Rs. 50000 Personal Loan
| ID Proof | PAN Card / Aadhaar Card / Passport / Driving Licence / Voter ID |
| Proof of Residence | Passport / Driving License / Electricity Bill / Telephone Bill / Aadhaar Card / Voter ID |
| Income Proof | Salary Slip of the last 3 months / Bank Statement |
| Photograph | 2 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.
Conclusion
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.
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