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Apply for a ₹50,000 personal loan with FIRSTmoney

With IDFC FIRST Bank's FIRSTmoney, applying for a ₹50,000 personal loan is now a breeze. This loan can be used for various needs such as covering medical expenses, funding education, or managing unexpected financial requirements. A FIRSTmoney smart personal loan offers competitive interest rates and zero foreclosure charges, ensuring that your borrowing remains affordable and meets your financial requirements.

Apply now

Features and benefits of a ₹50,000 Personal Loan

100% Digital Journey

100% Digital Journey

Experience the ease of an entirely paperless loan process with FIRSTmoney. From application to disbursal, everything happens online—quick, seamless, and hassle-free. Just click on “Apply Now” to get started and customise your loan as per your needs.

No Foreclosure Charges

No Foreclosure Charges

Pay off your loan early without worrying about penalties. With FIRSTmoney, you enjoy zero foreclosure charges, giving you the freedom to clear your dues ahead of schedule without any extra cost. More control, more flexibility—just the way borrowing should be.

Flexible Loan Repayment

Flexible Loan Repayment

Choose a repayment plan that works for you. With FIRSTmoney, you can select any tenure between 9 to 60 months to repay your loan comfortably. Whether you want to finish it fast or space it out, the choice is yours.

Multiple On-Demand Loans

Multiple On-Demand Loans

Need more funds later? No problem. FIRSTmoney gives you the option to access additional funds with a single application quickly and easily whenever you needs. It’s borrowing that adapts to you, not the other way around.

Instant Disbursal

Instant Disbursal

Get fast access to funds with a fully digital process. FIRSTmoney offers instant loan approvals and quick disbursals within 30 minutes, so you don’t have to wait when it matters most. Apply online, get approved, and access your loan in no time.

₹50,000 personal loan Eligibility and Documentation

Eligibility
  • eligibility CIBIL score: To apply for a FIRSTmoney loan, applicants need to have a good credit record and a CIBIL score of 730 and above.
  • eligibility Employment: FIRSTmoney loans are available to salaried and self-employed individuals.
  • eligibility Age: Anyone aged between 21 to 60 years can apply for this loan.
Documents
  • documentation You do not have to worry about the hassles of lengthy documentation with FIRSTmoney smart loans. To apply for a ₹ 50,000 personal loan from FIRSTmoney, all you need is to present your physical PAN card at the time of completing the video KYC process.
Eligibility

What is the EMI for a ₹50,000 personal loan

The EMI for a 50,000 personal loan at IDFC FIRST Bank is calculated using the reducing balance method. In this method, the interest is calculated only the outstanding balance, rather than the original loan amount. This ensures you pay less interest over time.

The reducing balance calculation method is employed to calculate the EMI for a ₹50,000 personal loan. This technique determines the interest based on the remaining loan balance. While the EMI remains constant throughout repayment, the portion allotted to the principal repayment grows while the interest component diminishes over time.

How to apply for ₹50,000 personal loan using FIRSTmoney

Step 1

Start by scanning the QR code or clicking loan from your smartphone.

Step 2

Register using your mobile number and confirm basic/personal details to check your eligibility.

Step 3

Choose your loan preferences, including the tenure and repayment terms.

Step 4

Link your bank account where you wish the funds to be disbursed.

Step 5

Complete the video KYC verification process with your physical PAN card.

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Know your personal loan fees and charges

Interest rates for a ₹50,000 personal loan start @9.99% p.a.

Visit the Fees and Charges section to know more.

Know More

Frequently asked questions

How can I check my eligibility for a ₹50,000 personal loan?

You can check your eligibility for a ₹50,000 personal loan in the eligibility section of the official portal. For FIRSTmoney, basic eligibility requirements are a credit score of 730 or above, a stable income through salary or self-employment, and the age bracket between 21 to 60 years.

How is the interest rate for a ₹50,000 personal loan determined?

Interest rates for a ₹50,000 personal loan are determined based on factors such as your credit score, income stability, employment history, and the policies of the bank.

Which documents are required for a ₹50,000 personal loan application?

With FIRSTmoney, you can apply for a ₹50,000 loan only using your PAN card during the video KYC process.

Can I get loan amounts above ₹50,000 with FIRSTmoney?

Yes, FIRSTmoney offers personal loans of up to ₹10 lakh, subject to the eligibility criteria. Contact IDFC FIRST Bank for specific details on loan amounts and eligibility requirements.

How to get a ₹50,000 loan in one day?

IDFC FIRST Bank offers instant loan approvals within the same day for FIRSTmoney loans. In case you need quick funds to meet your urgent requirements, it is one of the most easily accessible personal loan options.

What is considered a good CIBIL score to apply for a ₹50,000 personal loan?

A CIBIL score of 730 and above is generally considered to be good when applying for a ₹50,000 personal loan. However, a higher score typically increases the likelihood of a loan approval and favourable interest rate.

What is the monthly interest on ₹ 50,000 personal loans?

The monthly interest on a ₹50,000 personal loan depends on the applicable interest rate and the loan tenure. You can use the online IDFC FIRST Bank EMI calculator to estimate the monthly interest component based on the chosen interest rate and loan duration.

What does foreclosure charge mean?

Foreclosure charge refers to the fee charged by a bank if you choose to repay the entire loan amount before the end of the loan tenure. This charge is typically expressed as a percentage of the outstanding loan amount and may vary among lenders. However, the FIRSTmoney smart loan gives you the flexibility to repay the amount in full before maturity without any foreclosure charges. This, in turn, helps you close your loan and eliminate financial liabilities early.

What is the interest for a 50000 Personal Loan?

The personal loan interest rate for a ₹50,000 loan at IDFC FIRST Bank starts at 9.99% per annum. The specific rate will depend on factors like your credit score, income, and the loan tenure chosen.

What is EMI of a ₹50000 Loan?

To calculate the EMI for a ₹50000 Loan, you can use a personal loan EMI calculator. 

What is the processing fee on a ₹50,000 personal loan?

At IDFC FIRST Bank, the personal loan processing fees for a ₹50,000 loan usually start from 2%, with transparent and flexible options.

More FAQs

Choose your personal loan amount with FIRSTmoney

₹10 lakh Personal Loan
₹10 lakh Personal Loan ₹10 lakh Personal Loan
₹9 lakh Personal Loan
₹9 lakh Personal Loan ₹9 lakh Personal Loan
₹8 lakh Personal Loan
₹8 lakh Personal Loan ₹8 lakh Personal Loan
₹7 lakh Personal Loan
₹7 lakh Personal Loan ₹7 lakh Personal Loan
₹6 lakh Personal Loan
₹6 lakh Personal Loan ₹6 lakh Personal Loan
₹5 lakh Personal Loan
₹5 lakh Personal Loan ₹5 lakh Personal Loan
₹4 lakh Personal Loan
₹4 lakh Personal Loan ₹4 lakh Personal Loan
₹3 lakh Personal Loan
₹3 lakh Personal Loan ₹3 lakh Personal Loan
₹2 lakh Personal Loan
₹2 lakh Personal Loan ₹2 lakh Personal Loan
₹80000 Personal Loan
₹80000 Personal Loan ₹80000 Personal Loan
₹70000 Personal Loan
₹70000 Personal Loan ₹70000 Personal Loan
₹60000 Personal Loan
₹60000 Personal Loan ₹60000 Personal Loan

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