How Can I Get a ₹50000 Loan Fast

How Can I Get a ₹50000 Loan Fast

No matter how well settled we are in our lives, sometimes all of us need some form of financial help or the other. When we become independent and start earning our own money, the thought that we will never need any form of financial help all throughout our lives often comes to our minds, but oftentimes we find ourselves in situations where a little cash crunch is inevitable.

Luckily for us, there are plenty of ways to get the cash we need immediately without needing to ask our parents or friends, and in this article, we will discuss exactly that. If you are in India and need a ₹50,000 loan fast, then this article is for you. Let’s get started.

What Is a Personal Loan?

Before we proceed on how you can get a ₹50,000 loan fast, one of the most important aspects you need to understand is the concept of a personal loan. In simple terms, a personal loan can be understood as a short term process wherein you borrow a small amount of money, generally between ₹20,000 to ₹150,000, and return it over a period of 3 to 18 months. 

While the concept of personal loans is well established in the west for a long time, the process has recently become simple and quick in India, thanks to the inception of many personal loan lending companies and apps in India. 

So let’s go ahead and explore a few of them.

Money View: Apply for Instant Loan Online up to ₹5 Lakhs

If you are looking for 50,000 personal loans to avail easily, then chances are that you have already heard of the Money View loan apps. Founded in 2014 by Sanjay and Puneet Agarawal as a money management application for Gen-Y and Gen-Z, the company has launched its lending platform, which is one of the best in the country for quick, short term loans.

At a Glance

  1. Any amount between ₹10,000 to ₹500,000
  2. Flexible repayment from 3 to 60 months 
  3. 24-hour approval & transfer 
  4. Lowest interest rate starting from 1.33% per month 
  5. Trusted by more than 1 crore Indians

Bajaj Finserv: Apply for Instant Personal Loan

No matter which generation you are from, chances are that you have heard of the name Bajaj at least once. The brand, which is now a conglomerate of many different businesses, has become a household name in India thanks to its great service and loyalty to customers. Bajaj Finserev, the lending company of Bajaj, has come up with a service wherein you can borrow up to Rs.25 lakh with instant approval. 

At a Glance

  1. Personal Loan up to Rs.25 lakh
  2. No collateral needed
  3. Quick and instant approval 
  4. With our flexible tenors ranging up to 60 months
  5. Brand trust & guarantee from Bajaj

Cashkumar: Peer to Peer Lending in India

A relatively new entrant in the industry, CashKumar is a favorite among the many young earners in India. Started by 3 friends from IIM and IIT, this young fintech startup was founded in 2014, and since then, the company has slowly but surely gained momentum and traction among young earners and borrowers.

At a Glance 

  1. Lend any amount between ₹20,000 to ₹150,000
  2. Repay between 3 to 12 months
  3. Zero pre-closure charges
  4. No collateral needed
  5. Backed by the best alumni in India

Loan Baba: Compare and Apply Loans Online in India

A fintech startup based out of the financial capital of India, Mumbai, LoanBaba is a well-known name in the mini loan and short term instant loan industry. The company which primarily works through their website offers a variety of short-term loans starting from Credit Card loan, Instant loan, Loan against property, loan against gold and also home loan. One of the biggest USPs of LoanBaba is the fact that they have tie-ups with some of the most trusted banks in India, starting from SBI all the way to HDFC and Kotak. 

At a Glance

  1. Variety of loans on offer
  2. 2 hours or less approval process
  3. Quick loan amount between ₹10,000 to ₹50,000
  4. Paperless process 
  5. Flexible repayment schedule

Credy: Apply for Instant Personal Loan

If you are an individual who shops using their credit card a lot, then you must have heard about Credy by now. Started as a credit card financing company, it grew famous when it introduced an approval process that does not solely rely on the credit score of the individual but also takes into account various other factors of approval. 

At a Glance

  1. Education Loan, Emergency Loan, and Credit Card Financing Available Up to  1 Lakhs
  2. Repay between 3 to 12 months
  3. Money is transferred in 24 hours or less
  4. Allows for applicants with low CIBIL score as well
  5. Fast & Reliable Service

Conclusion

Getting a loan in India of 2020 has become a cakewalk thanks to the many startups who are focusing all their efforts solely on this. All you need to do is to make sure that you have a decent credit score, a few documents handy and you will get your ₹50,000 straight to your bank account within 24 hours or less.

Author Bio: Surya Patra is a qualified webmaster by profession and Marathon Runner/Cyclist by passion with more than 6+ years of expertise in the financial domain. Surya is also an entrepreneur, enthusiastic in storytelling, content writing, and digital marketing professional.