How to get an instant 50000 loan online in India?An instant loan of Rs 50,000 is a small cash loan, falling under the category of unsecured loans. By unsecured it doesn’t mean that the loan is not secure to apply, it means that an unsecured loan is a short-term loan with no requirement of a collateral or guarantor.
Borrowers under grave financial pressure can survive with an instant loan of at least Rs.50,000 or more. Being a small cash borrowing, availing of a loan of Rs.50,000 is not heavy to repay. Borrowers should consider the interest rate charged by different lenders and proceed with the loan application of 50,000.
An instant loan of 50,000 is not less. In fact, it can relieve borrowers from daily financial challenges such as clearing the house rent, paying for regular medicines, unavoidable house repairs, buying a household gadget, or paying for small miscellaneous expenses.
Based on your monthly income, many NBFCs and financial institutions offer easy to apply for an instant loan with minimal documentation. Right from loan application approval, all the processes are digital.
Eligibility Criteria for availing instant loan of 50000
- Must be a citizen of India
- The age limit must be 21 - 58 years old
- Must be stable professionally in a job or business
- Must earn a minimum income of Rs.15,000 per month
- Six months bank statement of an active bank account is mandatory as an income proof
Online hassle-free documentation reduces the stress of physical loan applications. Submission of mandatory documents for an instant loan up to 50,000 or more requires:
Documents required for 50000 instant loans
- Aadhar Card and PAN card are mandatory documents for E-KYC verification
- Smart card driving license also stands as an identity proof
- Other important documents include your professional and financial details inclusive of bank statements
- Your account should be in any of the accepted banks as suggested by the financial institution. This is where the approved loan amount gets disbursed.
Borrowers can ease their loan repayment burden for a 50,000 instant cash loan using the in-built EMI calculator. EMI calculators give 100% accurate results in seconds. Hence, know the EMI for a 50,000 loan and be at ease of paying affordable EMIs.
SimplyCash is an instant personal loan app powered by HeroFinCorp. It is specifically designed to provide easy instant loans between Rs.50,000 - 1,50,000. The amount is easily available within minutes of approval. The procedure for availing of instant loan amounts involves paperless documentation and real-time verification. Once verified and approved, disbursal is done within 24 hours of a working day.
An instant loan of Rs 50,000 can also be an emergency financial help to deal with unforeseen events. So, if you have a requirement for mini cash loans, an amount of Rs.50,000 is a good start to cope up with urgent financial needs.
Moreover, being a no collateral loan, it speeds up the overall loan process of 50,000 loans and enables instant approval, relieving the borrower’s financial constraints.
To check SimplyCash eligibility criteria, please check the eligibility here