The need for Rs.50,000 can arise at any time. Instead of breaking your savings, you can get a Personal Loan of Rs.50,000 instantly from a trusted lender. How? Read on to find out!
How to Avail an Instant Loan of Rs.50,000?
Getting a Rs.50,000 instant loan is easy. Apply in just 3 simple
steps as mentioned below:
Step 1: Click on the
'Apply Now' button.
Step 2: Fill in your personal details, loan amount
(Rs.50,000), tenure, etc., on the loan application form.
Step 3: Upload necessary documents, such as your
PAN Card, Aadhaar Card, residential proof, income proof, etc.
On
successful verification, Rs.50,000 will be transferred to your bank account.
Tips for Securing Rs.50,000 Instant Loan
Here are some tips to increase your chances of securing a Personal Loan of Rs.50,000:
• Maintain a Healthy Credit
Score: Maintaining a good credit
score of 750 and above is advisable for getting an instant loan
of Rs.50,000 on favourable terms.
• Check the
Eligibility and Documents Required: Before you apply
for a loan, check the eligibility criteria and required documents
to avoid hassles during the application.
• Apply for
the Right Loan Amount: Define your needs and wants and
borrow as much as you can repay.
• Have a Stable
Source of Income: You must provide clear documents
showing your income, such as bank statements and salary slips. A
stable source of income is an advantage, and lenders may prioritise
your loan application based on this.
Features and Benefits of an Instant Loan
Instant loans of Rs.50,000 come with several features and benefits, like:
• Quick Access to Funds: As the name
suggests, these loans provide immediate access to the required
funds, making them ideal for emergencies.
• No
Collateral: Most instant loans of this size are unsecured,
meaning you don't need to offer collateral to secure the loan.
• Flexible Repayment Terms: Lenders like
Poonawalla Fincorp offer flexible repayment options, allowing you to
choose a tenure that suits your financial situation.
•
Minimal Documentation: Digitalisation has made things
easier than before; only a few documents are required to be uploaded
online to complete the application.
Also Read - How to Avoid Personal Loan Scams?
How to Choose the Right Lender for an Instant Loan of Rs.50,000?
To ensure you get the best deal on your instant loan, choose the right lender. Here is how you can do so:
1. Research Lender
Research multiple
lenders and compare their interest rates, processing fees, and
customer reviews to choose the one that suits your needs.
2. Check Your Eligibility and Documents
Required
Once you have the list of selected lenders,
check if you meet their eligibility criteria and have the required
documents to avoid any inconvenience.
3. Check EMI Payable
It is wise to
plan your repayment before getting a loan using an online EMI
calculator. Enter the required loan amount and tenure to view your
monthly outgo.
4. Check Foreclosure Charges and Penalties
Check if the lender has any prepayment charges for closing your
loan early and penalties in case of making late repayments.
5. Check the Terms and Conditions
Before you proceed with the lender, check their terms and conditions carefully.
To Conclude
An emergency can knock at your door anytime. Whether you need to pay medical bills or repair your roof urgently, getting an instant loan of Rs.50,000 can help you cover your urgent financial requirements. But before you apply, you must know the key features of this loan and tips to secure one. Also, it is essential to choose a renowned and trusted lender like Poonawalla Fincorp. So, what are you waiting for? Apply now!
