Looking for ₹ 50,000 Loan Urgently - Apply Online

Apply for a Rs 50,000 Personal Loan from verified individual or private lenders and get the best interest rate for your loan at standard terms.

Please enter your loan requirement

 ₹20,000 - ₹1.5 lakhs    3 months - 1 year    Zero Pre-closure

₹ 50,000 Personal Loan with quick approvals

Short term loans of Rs. 50,000 are advanced by Cashkumar for a tenure between 6-8 months. The loan is unsecured in nature and sourced through individual lenders as part of our peer to peer (P2P) lending network. We require minimal documentation with the loan request being approved after a quick credit check and financial analysis. Since the loan amount is small, it is pledged and fulfilled in a shorter period for quicker disbursal.

Small loans of Rs. 50,000 are helpful to meet urgent expenses, pay high interest credit card dues, get an advance before salary credit and to pay off informal debts. Borrowers on the platform also avail this loan if they are unable to get a small amount from a bank or have higher obligations. As the loan is unsecured and amount is 50k, it can be used for a variety of reasons from travel, medical, marriage to home renovation.

Short term peer to peer loans for Rs. 50,000 through Cashkumar are now available in Bangalore, Delhi NCR, Mumbai, Pune, Hyderabad, Chennai, Ahmedabad and Coimbatore. See below to apply and avail a loan or call us on our helpline numbers.

Personal Loan Categories

Depending on the amount and repayment period, called tenure, personal loans can be divided into 3 different categories. You can avail for a loan based on the type of requirement:

Long-term loan: These loans are given for a tenure between 12 to 60 or sometimes even 72 months with amount ranging between Rs. 1,00,000 to Rs. 30,00,000. They help meet your large requirements and have lower interest rates due to the high amounts.

Short-term loan: These loans are given for a tenure between 3 to 12 months with amounts ranging between Rs. 20,000 to Rs. 1,00,000. They are perfect to help you with small requirements and interest rates charged are slightly higher given the shorter tenure.

Salary Advance loan: An advance is just an ultra-short-term loan given for periods between a few days and upto 3 months. The loan amount is generally used as bridge between salaries to meet expenses and attract high interest rates.

Cashkumar P2P Lending

Cashkumar through its RBI licensed, NBFC P2P lending platform brings together borrowers and lenders to transact in short-term personal loans. The model allows a lot of people who have been financially excluded to participate in the credit system. People with money get access to a new asset class and can invest by lending small amounts to multiple borrowers. Cashkumar undertakes the credit analysis of the applicants and approves borrowers based on multiple traditional & alternate data points. As compared to banks, P2P lending allows people from all segments to apply and avail a loan with a quick, online process.

Why do you need a ₹ 50,000 Personal Loan?

A ₹ 50000 Personal Loan can be taken for a variety of purposes and requirements. Some of these include:

  • Travel: Going out and exploring the world is not a privilege anymore but a necessity for most of you tired of a busy life. Funds are not a constraint anymore as personal loans can be taken for a luxurious vacation as well as quick P2P loans for short holidays
  • Home Improvement: These help for reasons as wide ranging from getting a fresh coat of paint for the house to small repairs or remodelling and buying household equipment. It is easy to get a couple of lakhs to a few thousands via P2P Lenders, any number of Banks or NBFCs
  • Marriage: It is known that weddings or marriages can cost a lot and it is not easy to arrange for such funds always. Extended parties or travel can also cost additional funds which can be met by applying for a personal loan
  • Debt Consolidation: Most of you would have opted for borrowing money in life to meet a requirement or transact through credit cards. Debt consolidation loans help bring all obligations together under a single loan. Short-term loans also provide a great way to pay off high-cost credit card obligations.
  • Balance Transfer: Banks and NBFCs offer a chance to transfer high interest loans to their institutions at a lower interest due to improved financial or work situation. These balance transfers provide respite by reducing interest rate or the tenure of the loan.
  • Rent deposit: Increasingly young people are travelling to find employment in metro cities where rent deposits can be quite high. It is normal for deposits to be charged in the range of Rs. 1,00,000 for a single house. Given such profile are new to credit, short-term P2P loan providers are the best option to approach and get a loan sanctioned
  • Medical: Life is never predictable, and you might come across accidents and emergencies from time to time. Personal loans which are unsecure in nature are a good option for people facing such emergencies. It is easy to get a few lakhs for serious treatments to a few thousands for cosmetic procedures.

Documents Required for ₹ 50,000 Personal Loan

Documents are proof of the reliability and establish the complete profile of a borrower. Financial institutions require these to decide on approving a loan request. While most banks currently use an offline process and need physical documents, NBFC and P2P companies might need a completely online submission. Most documents are common to institutions and require:

  • Pan Card
  • KYC (Identity and Address proof)
  • Salary slips
  • Income Proof - Latest 3 months salary slips, Receipts, Form 16 etc (for self-employed professionals)
  • Bank Statements - 6 months bank statements
  • House ownership proof (if any)
  • Business existence proof, P&L, Balance sheet, IT statement, Audit report etc (for businesspeople)

₹ 50,000 Personal Loan Eligibility Criteria

  • Age: Atleast 21 years (for salaried) and 23 years (for self-employed/business) at the time of taking a loan and maximum 60 (for salaried) and 65 years (for self-employed/business) at the time of loan closure
  • Occupation: Salaried or self-employed/business
  • Minimum income: Rs. 15,000 in non-metro cities, Rs. 20,000 in metro cities and annual income of atleast Rs. 5 lakh for self-employed. Business people need to show annual revenues of above Rs. 50 lakhs
  • Salary credit: As account transfer for salaried employees applying with Banks/NBFCs, account transfer and cheque to online NBFCs. No cash salaries
  • Rate of Interest: Can be calculated as a flat rate or reducing balance and can vary from APR 10.99% to 30%
  • Work Experience: Total work experience of 1 year (for salaried) and 3 years business vintage (for self-employed)

Are you ready to explore the different options available for your ₹ 50,000 Personal Loan?