50 Lakh Personal Loan
A personal loan of Rs. 50 Lakhs can be used for weddings, house repairs and renovation, paying off hospital bills, planning a foreign trip, business expenses, and other personal financial purposes. Many banks and other financial institutions offer Rs. 50 Lakh loan in India at affordable interest rates, beginning from just 10% p.a. Repayment can be done in flexible tenures of 12 to 96 months.
Best Banks & NBFCs for ₹50 Lakh Loan
Below are the top banks and NBFCs that offer 50 lakh personal loans in India, along with their interest rates and other features:
| Bank/NBFC | Loan Amount | Rate of Interest | Processing Fee | Maximum Tenure |
|---|---|---|---|---|
| HDFC Bank | Rs. 50,000 - Rs. 40 Lakhs | 10.85% - 24% p.a. | Up to Rs. 6,500 + GST | 60 months |
| ICICI Bank | Rs. 50,000 - Rs. 50 Lakhs | 10.85% - 16.65% p.a. | Up to 2% of the loan amount + applicable taxes | 72 months |
| Axis Bank | Rs. 50,000 - Rs. 40 Lakhs | 11.1% - 22% p.a. | Up to 2% of the loan amount + GST | 84 months |
| Kotak Mahindra Bank | Rs. 50,000 - Rs. 35 Lakhs | 10.99% - 16.99% p.a. | Up to 5% of the loan amount + taxes | 72 months |
| SBI | Rs. 1 Lakh - Rs. 35 Lakhs | 11.45% - 14.60% | Nil till 31st January 2025 | 84 months |
| HSBC | Rs. 75,000 - Rs. 30 Lakhs | 10.15% - 16% p.a. | Up to 2% of the loan amount | 60 months |
| Yes Bank | Rs. 50,000 - Rs. 50 Lakhs | 11.25% - 21% p.a. | Up to 2.5% of the loan amount | 72 months |
| Aditya Birla Capital | Rs. 1 Lakh - Rs. 40 Lakhs | 10% - 32% p.a. | Up to 4% of the loan amount | 84 months |
| Bajaj Finserv | Rs. 20,000 - Rs. 55 Lakhs | 10% - 31% p.a. | Up to 3.93% of the loan amount | 96 months |
| Tata Capital | Rs. 40,000 - Rs. 35 Lakhs | 11.99% - 29.99% p.a. | Up to 5.5% of the loan amount + GST | 72 months |
| L&T Finance | Rs. 50,000 - Rs. 30 Lakhs | 11% p.a. onwards | Up to 3% of the loan amount + applicable taxes | 72 months |
Benefits of 50 Lakh Personal Loan
Availing of a personal loan of Rs. 50 Lakhs has several benefits as mentioned below:
- You can get a 50 Lakhs loan without collateral as personal loans are unsecured.
- You can apply for the loan online instantly and upload the required documents in a 100% paperless manner.
- Pre-approved customers can get a personal loan of Rs. 50 Lakhs with minimal or even no documents.
- The lender disburses the approved loan amount directly to your bank account.
- 50 lakh loan interest rates are affordable and start from just 10% p.a.
- The loan can be repaid in EMIs within a flexible tenure of 12 to 96 months.
You can calculate your EMI for 50 lakh loan instantly online using the personal loan EMI calculator.
50 Lakh Loan EMI Table (1–10 Years)
Below is the EMI calculation for a 50 Lakh personal loan for 10 years tenure at an interest rate of 10% p.a. in a tabular format:
| Loan Amount | Tenure | Monthly EMI (Approx.) |
|---|---|---|
| ₹50 Lakh | 1 year | ₹4,39,580/- |
| ₹50 Lakh | 2 years | ₹2,30,725/- |
| ₹50 Lakh | 3 years | ₹1,61,335/- |
| ₹50 Lakh | 4 years | ₹1,26,810/- |
| ₹50 Lakh | 5 years | ₹1,06,235/- |
| ₹50 Lakh | 6 years | ₹92,630/- |
| ₹50 Lakh | 7 years | ₹83,005/- |
| ₹50 Lakh | 8 years | ₹75,870/- |
| ₹50 Lakh | 9 years | ₹70,395/- |
| ₹50 Lakh | 10 years | ₹66,075/- |
50 Lakh Personal Loan EMI for 5 Years
Here's the detailed breakdown for a ₹50 Lakh personal loan over 5 years at a 10% interest rate:
- Loan Amount: ₹50,00,000
- Rate of Interest: 10% p.a.
- Loan Tenure: 5 years
- Loan EMI: ₹1,06,235
- Total Interest: ₹13,74,113
- Total Repayment: ₹63,74,113
50 Lakh Personal Loan EMI for 10 Years
Here's the detailed breakdown for a ₹50 Lakh personal loan over 10 years at a 10% interest rate:
- Loan Amount: ₹50,00,000
- Rate of Interest: 10% p.a.
- Loan Tenure: 10 years
- Loan EMI: ₹66,075
- Total Interest: ₹29,29,045
- Total Repayment: ₹79,29,045
50 Lakhs Loan EMI Calculator
Lenders use the following formula for calculating the EMI of a personal loan 50 Lakh:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
Here,
- P is the Principal loan amount
- N is Tenure in months
- R is the Monthly rate of interest on 50 Lakh loan
The EMI for a personal loan of Rs. 50 Lakhs varies depending on the principal loan amount, interest rate, and repayment tenure.
For example, an EMI for Rs. 50 lakh loan for 10 years tenure will be Rs. 66,075 at 10% p.a. interest rate. However, a 50 Lakh loan EMI for 5 years, at the same interest rate will be Rs. 1,06,235.
This EMI calculation can be done instantly using the Personal Loan EMI Calculator available on our web portal.
50 Lakh Personal Loan Eligibility Criteria
Below are some basic 50 Lakh loan eligibility criteria:
- Minimum age required to apply: 21 years
- Nationality: Indian resident
- Occupation: Either salaried or self-employed
- Minimum income: Rs. 15,000 per month
- Credit score: At least 700
Documents Required for 50 Lakhs Loan
The list of documents for a personal loan for 50 lakhs is mentioned below:
Documents for Salaried Applicants
- Proof of identity & address: Passport/ Voter ID Card/ Aadhaar Card/ Ration Card/ Driving License/ PAN Card/ Utility Bills (not older than 3 months)
- Proof of income: Salary bank account statements for the previous 6 months, salary slips of the last 3 months, and ITR/Form 16
Documents for Self-employed Applicants
- Proof of identity & address: Passport/ Voter ID Card/ Aadhaar Card/ Ration Card/ Driving License/ PAN Card/ Utility Bills (not older than 3 months)
- Proof of income: Last 3 years’ bank account statements, ITR of last 2 years with P&L Account Statement, balance sheet and income computation of the last 2 years
- Proof of business: Form 26 AS, Income Tax Challan/ TDS certificate (Form 16A) for income tax declared
How to Apply for a ₹50 Lakh Personal Loan
I need 50 lakhs urgently - does this question cross your mind too? If yes, the following are the steps to apply for a personal loan of Rs. 50 Lakhs online:
- Click the personal loan tab on our web portal and select a personal loan partner.
- Check your eligibility for the loan and document requirements.
- Click the ‘Apply Now’ tab and fill in the application form online by mentioning some basic details.
- After a pre-assessment of your eligibility by the lender, you will be required to upload some basic documents to complete the loan application.
- After successful verification of the provided details, your loan request will be approved by the lender.
- The approved loan amount will be disbursed to your bank account.
FAQs
Yes, if you meet the eligibility criteria set by the lender, you can get a 50 Lakh loan without collateral.
The EMI for Rs. 50 Lakhs personal loan depends on the interest rate and repayment tenure. For instance, at a 10% p.a. interest rate for 7 years tenure, the EMI would be approximately Rs. 83,006.
The minimum salary required to be eligible for a Rs. 50 Lakhs personal loan is at least Rs. 15,000 per month.
The EMI for a 50 Lakh personal loan in SBI may vary depending on the applicable interest rate and tenure. For instance, the 50 Lakh personal loan EMI for 7 years at an 11.45% p.a. interest rate will be Rs. 86,800.
The monthly interest on 50 Lakhs varies from lender to lender. Usually, lenders consider the borrower’s eligibility, income, and credit score to determine their personal loan interest rates.
The EMI for a 50 Lakhs personal loan for 5 years may vary depending on the interest rate. For instance, the 50 Lakh personal loan EMI for 5 years at 10% p.a. interest rate will be Rs. 1,06,235.
The EMI for a 50 lakh personal loan for 10 years varies depending on the applicable interest rate. For instance, the 50 lakh loan EMI for 10 years at 10% p.a. interest rate will be Rs. 66,075.
The EMI for a 50 lakh personal loan for 15 years varies depending on the applicable interest rate. For instance, the 50 lakh loan EMI for 15 years at 10% p.a. interest rate will be Rs. 53,730.
The EMI for a 50 lakh personal loan for 20 years varies depending on the applicable interest rate. For instance, the 50 lakh loan EMI for 20 years at 10% p.a. interest rate will be Rs. 48,251.
The EMI for a 50 lakh personal loan for 30 years varies depending on the applicable interest rate. For instance, the 50 lakh loan EMI for 30 years at 10% p.a. interest rate will be Rs. 43,879.