You can get a Rs. 50,000 loan by applying for an instant loan online. The process for applying for instant loans online is mostly the same across all portals. This can especially be helpful if you have no credit history or have a poor credit score. 

Instant loans are offered by numerous online loan portals, digital lenders, peer-to-peer lenders, NBFCs and banks. 

Here are some of the noteworthy features of instant loans:

  1. Instant loans, as the name suggests, are available within a matter of few hours or one day and are ideal for urgent cash requirements
  2. Instant loans are ideal for small loan requirements like Rs. 50,000
  3. These loans can get approved with minimal documentation
  4. You can choose the EMI (Equated Monthly Instalment) facility to plan your finances in advance
  5. With this type of loan, you can meet your requirements like travel, holiday, wedding, education, medical emergencies, etc

Eligibility Criteria for Instant Loans

Here are some of the common eligibility criteria for instant loans through online lenders:

  1. The minimum age of the applicant should be 18 years and the maximum must be 58 years
  2. An applicant must have a stable job or source of income with a minimum income requirement being Rs. 15,000 per month

To get a loan of Rs. 50,000 you can also approach your bank or lender in case you have a long-standing relationship. The easy accessibility to loans depends on your credit standing and therefore, it is important to have a good credit score to avail good loan terms such as interest rates, loan tenure, repayment terms, etc.