Applying for a 2 lakh personal loan with RING is a breeze. Download the RING app, complete a quick paperless KYC, and select your loan amount. The whole process takes just a few minutes, and you’ll receive instant approval. Once approved, the loan will be credited directly to your bank account.
Fast and Flexible
₹2 Lakh Personal Loan
Flexible Repayment
Instant Bank Transfer
Affordable Rates
About Our ₹2 Lakh Personal Loan
Looking to borrow a 2 lakh personal loan for a vacation, a home upgrade, or to fund your small business? With RING, you're just a few taps away from securing a personal loan upto 2 lakh with no hassles. Whether it’s an emergency expense or a long-awaited personal goal, RING has got your back. We’re all about fast, easy, and paperless lending – get a 2,00,000 personal loan in just a few minutes, completely online.
Benefits of ₹2 Lakh Personal Loans
Instant approvals
Zero Paperwork
Flexible Repayments
Attractive Rates
Features of ₹2 Lakh Personal Loans
Credit Up to Rs. 5 Lakhs
Avail of credit up to Rs. 5 lakhs with paperless KYC.
Flexible Repayment
Choose repayment periods from 3 to 60 months.
Instant Approval
Money transferred to your bank account in 5 minutes.
Zero Paperwork
100% Digital - Hassle-free process
No Collateral Required
Secure a loan without pledging any assets.
Transparent Terms
Know all costs upfront with no hidden charges.
Competitive Rates
APR ranges from 32% to 57% per annum.
Multi-Purpose Loans
Use your loan for personal or business purposes
Check Your Eligibility
Instant Personal Loan Eligibility Criteria
To qualify for a personal loan applicants need to meet the following criteria:
- Nationality: Indian citizen.
- Age: Between 23 and 55 years.
- Documentation: Selfie, PAN Card, and Aadhaar Card.
- Income Proof: Required only for select high-value loans based on credit profile.
- Profile : Salaried, Self-Employed, Small busines owner & MSMEs
Having these documents prepared ensures a smoother and quicker application process
Follow these simple steps to get started:
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Verify Mobile Number
Enter your number on the RING app/website, receive an OTP, and verify.
₹2 Lakh Personal Loan EMI Calculator
Breaking Down the Cost: Interest Rates Explained
A tool designed to help you understand the monthly payment on your loan. Whenever you take a loan, the EMI amount that you will pay is very important in helping you arrive at your final loan amount and repayment tenure. Our personal loan calculator helps you do just that. You will be able to see your monthly payment, and this will help you decide what your loan amount should ideally be, and if it is payable over a period.
Principal Amount (A): ₹500,000
Interest Amount (B):
Your EMI: ₹ per month
Your Loan Amount: ₹500,000
At Interest Rate of: 2%
For : 2 years
Total Payable: ₹
Here’s a quick example to illustrate:
- Loan Amount (Principal): ₹1,00,000
- Tenure: 12 months
- Interest Rate: 13% per annum
- Processing Fee (incl. GST): ₹3000 (3%)
- Total Interest: ₹7,180.73
- EMI: ₹1,374.63
- APR: Start from 14%
Disclaimer - The Loan EMI Calculator only shows an estimate. Consult your lender for accurate details.
The Formula to Calculate EMI on Personal Loan
The formula for calculating EMI is as follows:
EMI = [P x R x (1+R) ^N]/ [(1+R) ^ (N-1)]
P= Principal loan amount | R= Monthly interest rate (annual interest rate divided by 12) | N= Loan tenure in months
**To explain it further, let’s see an example:**
Suppose you take a Personal loan for ₹5,00,000 with an annual interest rate (IR) of 10% for a tenure of, say, 5 years (60 months).
First, convert the annual interest rate to a monthly interest rate. In this case, the monthly interest rate would be 10%/12 = 0.00833.
Using the formula, you can calculate the EMI as follows:
EMI = [500000 x 0.00833 x (1+0.00833)^60] / [(1+0.00833)^60-1]
By simplifying the equation, you will find that the EMI for this loan would be approximately ₹10,609.
This means that your monthly payment will be ₹10,609 for 60 months to repay the loan amount along with the interest.
For a more detailed explanation, you can refer to this blog.
Hear from Our Happy Customers
Sunita M.
Delhi
I never thought getting a 2 lakh personal loan could be this easy. With RING, the whole process took me less than 10 minutes. From the application to receiving the funds, everything was seamless. I used the loan to upgrade my home, and the flexible repayment options made it stress-free to manage. Highly recommend it!
Rahul K.
Bangalore
I was in need of a personal loan off 2 lakh for a sudden medical emergency. RING was my savior. The digital process was fast, and I got the money into my account the same day. I appreciate how transparent and customer-friendly the whole process was. Thanks, RING!
Priya S.
Mumbai
As a self-employed professional, securing a 2,00,000 personal loan seemed like a long shot. But RING made it happen without any physical paperwork. The loan helped me expand my business, and now I’m a loyal customer. I’ll definitely use RING for future needs!
Ankit P.
Pune
I was worried about hidden fees and charges when applying for a personal loan upto 2 lakh, but RING is incredibly clear and upfront. The processing fee was minimal, and I had all the loan details laid out before I hit submit. It was quick, easy, and perfect for my trip to Europe.
Divya T.
Chennai
RING’s 2 lakh personal loan helped me through a tough financial phase. What I loved most was the empathy their customer service team showed during the process. They explained every step patiently, making it a smooth experience. I’m grateful for their support.
Sanjay R.
Hyderabad
The best thing about RING’s 2,00,000 personal loan is the ease of application. I needed a loan for my daughter’s education, and RING provided the money instantly. With the flexible repayment plan, I can pay it back on my own terms. Fantastic service.
Find the Right Personal Loan For You
Personal Loan for Travel
Fund your dream vacation and make unforgettable memories with our travel loans. From flights to hotels and everything in between, we’ve got you covered so you can focus on enjoying your trip.
Personal Loan for Students
Invest in your future or your child's education with our flexible education loans. Cover tuition fees, buy study materials, or enrol in that special course without financial stress.
Personal Loan for Home Renovation
Give your home a makeover without breaking the bank. Whether it’s a new kitchen, a fresh coat of paint, or an extension, our loans make it possible.
Personal Loan for Weddings
Make your special day even more magical with our wedding loans. Plan the perfect wedding without worrying about the expenses, from the venue to the honeymoon.
Got Questions? Let's get to them.
How do I apply for a ₹ 2 lakh personal loan with RING?
What documents are required for a personal loan upto 2 lakh?
To apply for a personal loan upto 2 lakh, you’ll need to provide your PAN card and Aadhaar card. Since RING is 100% digital, there’s no need for any physical paperwork. Just upload the documents through the app, and you’re good to go.
Can I use the ₹ 2,00,000 personal loan for any purpose?
Yes! A 2,00,000 personal loan from RING is entirely flexible. Whether you need it for medical emergencies, home renovation, education, travel, or even starting a small business, the loan can be used for any personal purpose.
What is the interest rate for a ₹ 2 lakh personal loan?
The interest rate for a 2 lakh personal loan varies between 18% and 36% per annum, depending on your credit profile and loan tenure. You’ll see the exact rate before you accept the loan, ensuring complete transparency.
More Questions
