
"Get instant approval for a ₹50,000 personal loan with My Mudr, quick processing and minimal documentation. Fast disbursal, no collateral required."
Published: 18 December 2023
Updated: 1 April 2025
What happens if you are in the midst of a crisis and need ₹50000 instantly? You would call a friend to borrow money, and they don't need to agree right away. Your friend lending you money can be a dicey situation, but what if you get a trustworthy lender who is ever ready to give you a personal loan instantly?
Many Banks and NBFCs provide personal loans as low as ₹50000 with low interest rates and flexible repayments. All you have to do is just a few clicks on your phone! This article will tell you how one can get loans up to 50000 without any paperwork and long queues.
Getting a 500000 personal loan is an easy task with the digitalization in the financial sector. You can take advantage of the personal loan after filling out the application form online and completing the documentation. After understanding the needs of borrowers, many banks and NBFCs have introduced the facility of instant personal loans. These loans can be approved and disbursed within a day.
Read also : Apply for a ₹5 Lakh Personal Loan
The aspects that make instant approval personal loans unique are as follows:
With an easy online application and instant approval system, you can get funds in no time. As soon as the lender approves, the loan amount gets disbursed quickly. Hence, such loans are perfect saviours for urgent financial needs.
Since personal loans are unsecured, you do not have to pledge any assets. This greatly reduces the risk of losing valuable possessions in case of default.
The lender would not inquire about where you intend to use the loan amount. You can use it for anything you need—home renovation, medical expenses, education, debt consolidation, or any other personal requirement.
You do not have to deal with piles of paperwork. Personal loans require only essential identification and proof of income for tension-free processing.
You get the option of choosing a repayment tenure that fits your budget. If you choose longer tenures, you can enjoy lower EMIs. On the flip side, shorter tenures lower interest.
You are able to get attractive interest rates that start at just 9.99% for loan amounts up to ₹50 lakh. Lower interest rates help in affordable repayments.
To apply for a Personal Loan up to 50000, there are certain factors that a person needs to keep in mind for the easy application process of the loan.
The eligibility criteria for My Mudra personal loan are the deciding factors of whether an individual is eligible for a loan. The following are the necessary factors you need to fulfil for a ₹50,000 personal loan:
No personal loans can be availed without providing any documents, not even a ₹50000 personal loan that gets instant approval. My Mudra's instant personal loan application requires the basic documents that a person usually keeps with them 24*7. Here is the list of the necessary documents required for a ₹50,000 personal loan online.
KYC Documents: Aadhar Card
Other Documents: PAN Card
Bank Statements: The previous six months' statement
Salary Slip: The last three months' salary slips
Photograph: A passport-size photo
The process of applying for a personal loan up to ₹ 50,000 is straightforward. With the dedicated My Mudra Loan App, it has become easier. Now, you can apply for a personal loan directly with your phone, without paper documents. Here are the detailed instructions.
Visit the website/App for a personal loan and click Apply Now
Fill out your details, including name, address, income, etc.
Upload the necessary documents required
Verify the information on your loan application
Check the charges and sign the loan agreement digitally
Get the loan disbursed in your provided account instantly after approval.
Always have complete knowledge of the different fees and charges that are involved when you apply for instant ₹50,000 loan. Look at the table below to get a general idea:
Particulars |
Charges |
Processing Fee |
0.5% to 4% of the loan amount |
Pre-payment/Part-payment/Foreclosure Charges |
Nil for floating rate loans; 2%-5% on the principle outstanding for fixed-rate loans |
Stamp Duty |
As per actuals |
Legal Fees |
As per actuals |
EMI/Cheque Bounce |
Around ₹400 per bounce |
(Important Note: The actual fees may occasionally differ based on the lender's policy. Therefore, you should expect these fees based on your selection of lender.)
Let's have a look at the calculated EMIs for a ₹50,000 personal loan with a 9.99% interest rate for different tenures:
Loan Amount (₹) |
Tenure (Years) |
Interest Rate (% p.a.) |
EMI (₹) |
50,000 |
1 |
9.99 |
4,395.56 |
50,000 |
2 |
9.99 |
2,307.02 |
50,000 |
3 |
9.99 |
1,613.12 |
50,000 |
4 |
9.99 |
1,267.89 |
50,000 |
5 |
9.99 |
1,062.11 |
No more searches for 'apply 50K instant loan' or 'how to get a 50000 personal loan' because My Mudra makes it a cakewalk. Now, you have access to each and every detail – be it the eligibility criteria and required documents or the interest rates and repayment terms. You know it all! You can use one of the best instant loan apps (My Mudra Loan App) for ease of application.
Keep one thing in mind: you must go through the offers by different lenders that My Mudra provides and compare them. Select the ones that align with your expenses and financial conditions. Fulfil your need for financial aid with the best personal loan from a top fintech company like My Mudra. Apply now!
You can apply online or visit a bank/NBFC with your ID proof, address proof, income proof, and bank statements. Approval depends on your credit score and repayment capacity.
Yes, some banks and NBFCs offer loans without a salary slip if you provide bank statements, ITR, or other proof of income.
Most lenders prefer a credit score of 650 or above, but some may approve loans for lower scores with higher interest rates.
Interest rates typically range from 10% to 24% per annum, depending on the lender, your credit score, and income profile.
Yes, self-employed individuals can get a loan by providing income proof like ITRs, business financials, and bank statements.
Yes, you can get a ₹50,000 loan for 1 year, but approval depends on several factors and lenders.
The interest rate for a ₹50,000 personal loan starts at 9.99% p.a. with flexible repayment tenures in years. EMI amounts vary based on tenure, so that you can manage the monthly payments.
Yes, the client's documents are safe with the reputed lenders that My Mudra partners with. The banks ensure the security of the borrower and keep your documents safe and secure.