The interest rates for personal loans for Rs 50,000 usually start from 10.50% p.a. onwards and tenures can go up to 5 years. But some public sector banks may offer personal loans at lower interest rates and for longer tenures. The final interest rates offered on personal loans of Rs 50,000 would depend on the credit score, monthly income, employer’s profile, job profile, etc.
Yes, you can avail personal loan of Rs 50,000 without submitting documents, if you are a pre-approved customer of a bank or NBFC. Either, you need to submit minimal documents proof related to your identity, address and income, if you maintain a strong relationship with your lending bank.
