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A personal loan has always been a popular option for individuals who want to borrow funds for their urgent personal needs, especially during medical emergencies, or even planning a dream vacation. One can need quick funds for several purposes. A person who earns around ₹50,000 salary per month, would be easily eligible for personal loans with minimal documentation. Let’s look into this guide for everything you need to know to obtain a personal loan if you are a salaried person and earn around ₹50,000 salary monthly.
A personal loan for a ₹50,000 salary is an unsecured loan that is specifically designed for an individual who earns ₹50,000 per month. These loans don’t require collateral. Zype’s personal loans can be used for a wide range of needs, which include covering medical expenses, meeting unexpected expenses, or loan for consolidating debts. The personal loan amount is largely influenced by the current borrower’s financial obligations and financial habits of the borrower. Zype’s personal loan is flexible for someone who earns a salary of ₹50,000 per month and is quick to obtain without much hassle.
If you want a fast loan without much hassle, you will get a personal loan in a few clicks with Zype. Your application process will take less than 8 minutes, and you may be eligible for higher amounts if you fulfill the basic requirements of Zype.
Zype offers personal loans to individuals who fast earn ₹50,000 in salary. Obtaining a loan is an easy process that only requires a few clicks to complete and is entirely online.
Get unsecured loans from Zype without pledging any asset and get funds to your account in just a few taps.
Zype offers loans in a very competitive interest rate. Starting from just 1.5%per month, zype offers a wide variety of favorable loans for borrowers who are eligible and have a good financial record.
Repaying a loan on Zype is a convenient option and you get to choose a suitable EMI option from 6, 9 and 12 months.
If you need a personal loan having a salary of ₹50,000, download the Zype instant loan app. Complete your application in less than 8 minutes and get a credit limit offer within seconds.
Below mentioned are Zype’s personal loan eligibility for ₹50,000 Salary
18 years or above
Needs valid PAN & Aadhaar card
Salaried individual
Monthly income of at least ₹50,000
The EMI on a ₹50,000 Salary Personal Loan for 6-12 Months Tenures are as follows:
For example, if you get a loan of ₹500000, your monthly EMI would be bifurcated as follows:
You can select between EMI terms of 6, 9 and 12 months to make sure you can conveniently repay your Zype loan. This helps you comfortably manage your costs.
| Loan Amount | Interest Rates | Tenure (in months) | EMI in Rs |
|---|---|---|---|
| Rs, 500000 | 18% | 6 | 8776.26 |
| Rs, 500000 | 18% | 9 | 5980.49 |
| Rs, 500000 | 18% | 12 | 4584 |
*Note – All the above numbers are for representation only. The final EMI amount may vary depending on the profile assessment.
The first step toward obtaining a personal loan for ₹50,000 Salary is a simple application process. Zype does not require any paperwork or document uploads for personal loans up to ₹5 lakhs. Make sure you have this list of personal loan paperwork on hand and finish your application in less than eight minutes.
To obtain a credit offer and finish your KYC, you simply need to provide your PAN and Aadhaar number along with a few other pieces of information (hard copy not needed).
After you’re approved for a loan from Zype, you will need to complete a selfie-based verification to complete your KYC. Since this is real-time photo verification, you don’t need to upload any documents.
If you want to apply for a higher credit limit on Zype, all you have to do is upload your bank statement for the last 4 months.
For example: If you get a personal loan up to ₹500000, an EMI up to 5 years would be:
| Loan Amount | Interest Rate | Tenure (in months) | EMI (Approx) |
|---|---|---|---|
| 500000 | 18% | 1 year (12 months) | 45840 |
| 500000 | 18% | 2 years (24 months) | 24962.05 |
| 500000 | 18% | 3 years (36 months) | 18076.20 |
| 500000 | 18% | 4 years (48 months) | 14687.50 |
| 500000 | 18% | 5 years (60 months) | 12696.71 |
Evaluate Your Needs: You must only borrow what you need to avoid any unnecessary debt.
Check Your Credit Score: A higher credit score can help you get favourable offers on loans and secure best interest rates
Lender Policies: Read the fine print before applying for a loan to avoid any sudden surprises.
Additional Fees and Other Charges: Be aware of prepayment penalties, processing fees, and other charges.
Plan for EMIs: Ensure that your monthly income can comfortably cover the loan EMIs without straining your finances.
For a fast and easy loan experience, you can explore the Zype app which only takes less than 8 minutes to complete the loan application process. If you are wondering, how much personal loan you can obtain on ₹50,000 Salary, check out the below steps:
Step 1: Once you have installed the Zype App from the Google Play store or Apple Store
Step 2: Complete the following basic details: Full Name as per Aadhar card, Mobile Number, PAN number, Employment Details
Step 3: Now Zype will generate a credit offer which would not take more than 60 seconds.
Step 4: After this, you would need to undergo the KYC process by entering your Aadhaar number and completing photo verification by clicking your selfie.
Step 5: Now you are ready to take a loan. Just enter the loan amount and repayment tenure.
Step 6: You will receive the money in your account in no time.
You need to meet the eligibility criteria, have a good credit score and have a salary at least above ₹15000 to get a personal loan with Zype.
A credit score of 750 or above is ideal for securing a loan with favorable terms.
The maximum loan amount with Zype can go up to ₹5 lakhs for an individual with a salary of ₹50,000.
You can choose a repayment plan ranging from 6-12 EMIs for a ₹50,000 Salary Personal Loan with Zype
Yes, you can prepay or foreclose your ₹50,000 salary personal loan with Zype
The personal loan from zype is typically disbursed within 24 to 48 hours after approval.
A ₹50,000 salary personal loan can be used for various purposes, including medical emergencies, weddings, travel, or home renovation.
Without good credit, it might be challenging to secure a high loan amount. Although, you may secure a decent amount of personal loan with a monthly salary of ₹50,000.
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