While we don't have a strict minimum salary requirement, we assess your repayment capacity based on your income and existing financial obligations. Generally, a monthly income of ₹15,000 or more improves your chances of approval.
Reliable loans for your projects
Personal Loans up to ₹60,000
Flexible Repayment
Instant Bank Transfer
Affordable Rates
About Our ₹60,000 Personal Loan
Benefits of ₹60,000 Personal Loans
Access funds instantly
Enjoy a 100% digital process
Flexible Repayment Tenure
Attractive interest rates
Features of ₹60,000 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.
₹60,000 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
Sudesh Yadav
Delhi
I needed urgent funds for my sister's wedding, and RING came to my rescue. The ₹60,000 loan was approved within minutes, and I received the amount in my account the same day. The easy repayment options make it stress-free to manage my finances.
Shruti Shah
Mumbai
As a small business owner, I often need quick capital for inventory. RING's ₹60,000 instant loan has been a game-changer for me. The application process is so simple, and the interest rates are competitive. I highly recommend it to fellow entrepreneurs.
Amit Verma
Bangalore
I was sceptical about online loans, but RING proved me wrong. Their customer service was excellent, and the entire process was transparent. The ₹60,000 loan helped me renovate my home office, and I'm grateful for the seamless experience.
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.
What is the minimum salary to get a Rs. 60,000 personal loan?
Can I get a Rs. 60,000 personal loan with a low CIBIL Score?
Yes, it's possible. While a good credit score is preferred, we consider other factors such as your income, employment stability, and overall financial profile. We offer loans to individuals with varying credit scores, but the terms may differ.
Can I get a personal loan if I get a cash salary?
While it's easier to verify bank-transferred salaries, we do consider applications from individuals who receive cash salaries. You may need to provide additional documentation to prove your income stability.
What will be my EMI for a personal loan of Rs. 60,000?
Your EMI depends on the interest rate and tenure you choose. For example, at 24% per annum for 12 months, your EMI would be approximately ₹5,650. Use our EMI calculator for a more accurate estimate based on your specific terms.
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