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Instant ₹50,000 Personal Loan

Instant 50,000 Personal Loan Online

The need for cash can arise anytime. It could be for paying planned and unplanned expenses, medical emergencies and car repairs, or to meet other financial commitments. Even though this cash crunch situation is temporary, the deficit can potentially disturb your monthly budget. If your cash deficit is ₹ 50,000, you can easily get a personal loan from Freo and fulfill your monetary requirements.

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Some of the situations where you'll probably need a ₹ 50,000 personal loan are:

Best Savings Plans
in India

Buying a flagship phone

Flagship phones are the company’s best phones equipped with top-shelf specs. However, the company can designate a flagship device in each price/specification tier. Nevertheless, buying a flagship phone is a luxury that not many people can afford. A small personal loan of ₹ 50,000 can help you own this luxury.

Paying your child's school fees

Even a playschool in a metro city can make you poorer by ₹ 50,000 to ₹ 1 Lakh. Paying such high fees can be tough if you are in a financial crisis. You can resolve this dilemma by simply taking an online personal loan to pay the fees.

Getting through a job loss

A job loss comes with emotional and financial costs. While sometimes it's not possible to find another job with the same pay scale quickly, getting a personal loan to cover your expenses when you are in between jobs is a great option.

Paying medical bills

Health insurance doesn't cover the medical expenses associated with:

Cosmetic surgery
Dental procedures
Fertility medical treatments
Bariatric procedures
Certain terminal illnesses
Emergency surgeries, treatments, or procedures
Prolonged treatments
Accidents
Post-hospitalisation medicines and medical tests

A personal loan can help cover the medical expenses that health insurance doesn't.

Buying laptops for yourself or your child

The coronavirus has changed the way we use laptops. With people spending time at home, laptops are now used as devices to work from home and attend online classes. If you need to buy a laptop, rather than using cash upfront and facing financial disruptions, you can consider taking a personal loan of ₹ 50,000 to make the purchase.

Getting home improvements/repairs done

Yet another very common reason people can take a loan is to make home improvements/repairs. Some home improvements/repairs a ₹ 50,000 loan can cover are:

A fresh coat of paint
Home repairs/remodeling
Home furniture such as dining table, bed
Home appliances such as ACs, refrigerators, TVs

Travelling

Domestic vacations and staycations are trending. But, travel is a privilege as many people find it difficult to travel without financial help. So, if you are planning a family vacation, romantic travel, or other vacations to get away from mundane activities and rejuvenate but can't afford the luxury, you can consider borrowing a personal loan to cover the travel expenses.

Covering relocation

Whether the relocation is because of a personal reason (marriage) or a professional reason (company relocated or job change), most people don't realize the costs involved in relocating. There are quite a few expenses associated with relocation, and they include:

Down payment on your new rental home
Buying home appliances/setting up your new home

When you don't have the money to cover these expenses, the last thing you want is to have your move put on hold. A small personal loan of ₹ 50,000 can help cover some of these expenses and ensure a smooth and stress-free move.

Compensating for missed days of work

There will be times when you are unable to work due to an injury or a sickness. If you do not have paid sick days, it can put you in a compromised financial position. Rather than worrying about paying your bills, a ₹ 50,000 personal loan can help you get through this hard time.

Splurging on wedding luxuries

Your dream wedding has everything perfect – the venue, the bridal outfit, and the band, complete with a professional pre-wedding photoshoot. But if your savings are coming up short, an unsecured wedding loan is just what you need to keep your dream wedding from being derailed.

Purchasing a scooter or any other two-wheeler

If you long to feel the wind in your face while cruising down the open roads, buying a motorcycle is probably on your mind. But, if you can't afford to buy the vehicle outright with cash, a two-wheeler loan is a great option without having to worry about making a down payment.

Covering emergencies

In some instances, an individual may encounter unexpected needs, such as an urgent medical situation, car repair, home repair, and other emergency situations. These are good reasons to take a small personal loan for quick access to funds to cover these expenses.

Investing in a side-business

Most of the time, a salary doesn't cut it to live a comfortable life and fulfill your other necessities. In such cases, you need to find ways to increase your income. Running a side-business is a good option. A small loan as an initial investment can help you take your business off the ground.

Achieving personal growth and ambition

Investing in your growth helps you secure a higher income in the future and solidify your foundation. You can use a ₹ 50,000 personal loan to fund your ambitions and future growth prospects.

Features and Benefits of Instant Loan of ₹ 50,000

Instant Approval

Get an instant loan of ₹ 50,000 or up to ₹ 5 Lakh approved in just a few minutes through a hassle-free online application processed with minimal documentation.

Borrow what you need, when you need

Borrow any amount from ₹ 3,000 or up to your approved credit limit multiple times and pay interest only on your borrowed amount.

Save on Interest

Enjoy affordable interest rates that start at 1.08% per month applied only on the amount you withdraw from your credit limit.

Duals Up as a Credit Card

Get a Freo Credit Card loaded with features, benefits, and rewards and use your approved credit limit for all types of online & offline purchases. Easily convert these purchases into affordable EMIs.

Flexible Repayment Option

Choose the repayment schedule that allows you can comfortably pay. The flexible repayment option ranges from 2-36 months.

Process to Apply for a ₹ 50000 Personal Loan

Applying for a personal loan of ₹ 50,000 with Freo is a 100% digital process. You can either apply on the website or download the Freo app.

Step 1

Download Freo App & Register

Fill up basic details such as age, city, PAN number, & income so we can determine your eligibility.

Step 2

KYC documentation

After the approval from our system, we’ll schedule a KYC visit to your house / office to collect documents.

Step 3

Transfer Money to your Bank

Step 1

Download Freo App & Register

Fill up basic details such as age, city, PAN number, & income so we can determine your eligibility.

Step 2

KYC documentation

After the approval from our system, we’ll schedule a KYC visit to your house / office to collect documents.

Step 3

Transfer Money to your Bank

Step 1

Download MoneyTap
App & Register

Fill up basic details such as age, city, PAN number, & income so we can determine your eligibility.

Step 2

KYC documentation

After the approval from our system, we’ll schedule a KYC visit to your house / office to collect documents.

Step 3

Transfer Money to your Bank

Credit line is ready to use! From the approved limit, transfer as much money as you need to your bank account.

Step 1

Download MoneyTap
App & Register

Fill up basic details such as age, city, PAN number, & income so we can determine your eligibility.

Step 2

KYC documentation

After the approval from our system, we’ll schedule a KYC visit to your house / office to collect documents.

Step 3

Transfer Money to your Bank

Credit line is ready to use! From the approved limit, transfer as much money as you need to your bank account.

Eligibility Criteria

Profession – Salaried or Self-Employed

Age – Above 21 years and below 60 years

Minimum Monthly Income – ₹ 20,000

Work Experience – 3 years and above

Credit Score – 650 and above

Required Documents

Pan Card Number

Professional Selfie

To be taken on the Freo App

Address Proof

Valid Driving License / Valid Passport / Aadhar Card

ID Proof

Valid Driving License / Valid Passport / Voter’s ID / Aadhar Card / Pan Card

Interest Rates for a ₹ 50,000 Loan

The interest rate applied to your ₹ 50,000 personal loan depends on factors like your credit score, income, repayment capacity, etc. freo interest rates on personal loans start from 13% to 18% per annum. Once your loan is approved, the interest rate and the repayment amount will be intimated to you.

The best part of taking a personal loan from Freo is its no usage, no interest feature. It means that the interest rate is applied only to the amount you borrow from your credit limit. If you don't use any of the approved credit, no interest will be charged.

Someone like you is happy with Freo

Navjyoti

You can have credit cards but you have to pay hefty interest rates if you want to use them as a loan. You need to go for a personal loan if you need cash. But MoneyTap credit has a kind of 2-in-1 facility that lets you withdraw cash when you need it and change it to EMI as well [with lower interest rates]. I think it's really helpful and unique.

Julen

The best feature on the app is instant feedback. You say "thank you" and it replies "welcome" - its' all done by the app. I have not seen this kind of intelligence in any other app. Absolutely love it.