To qualify for an 80,000 personal loan, a minimum monthly salary of ₹15,000 is typically required. This ensures that you have the financial capability to repay the loan comfortably. The exact salary requirement may vary based on the lender’s policies and your creditworthiness. If you meet this income threshold, you’re well on your way to securing the loan.
Convenient loans for your lifestyle
Personal Loans up to ₹80,000
Flexible Repayment
Instant Bank Transfer
Affordable Rates
About Our ₹80,000 Personal Loan
When life throws unexpected expenses your way, RING is your go-to solution. Imagine having the ability to access an 80,000 personal loan instantly, exactly when you need it. No stress, no fuss—just the money you need, right when you need it most. Whether it’s a sudden emergency or an opportunity you can’t miss, RING is there to help you navigate through it with ease. With RING by your side, financial peace of mind is just a tap away.
Benefits of ₹80,000 Personal Loans
Instantly secure a personal loan
100% Digital Process - Zero Paperwork
Flexible Repayment Plans
Attractive interest rates
Features of ₹80,000 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:
1
2
3
4
5
1
Verify Mobile Number
Enter your number on the RING app/website, receive an OTP, and verify.
₹80,000 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
Rakesh
Assam
RING made it so easy to get an 80,000 personal loan. The process was quick and hassle-free!
Drashti
Mumbai
I needed an urgent loan of 80,000 rupees, and RING came through instantly. Highly recommend it!
Ankit
Shimla
Applying for an 80k personal loan was never this easy. RING's app is super user-friendly.
Sneha
Haryana
The best part about RING is the flexible repayment options for the 80,000 personal loan. It fit perfectly with my budget.
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 much salary is required to get a personal loan of Rs. 80000?
How much credit score is required to apply for a Rs. 80000 personal loan?
A credit score of 650 or above is generally preferred for an 80k personal loan. A higher credit score indicates good financial discipline and increases your chances of loan approval. However, if your credit score is slightly lower, you might still get approved based on other factors like your income and employment stability. Maintaining a good credit score can also help you get better interest rates.
How much EMI will I have to pay for a Rs. 80000 personal loan?
The EMI for an 80,000 personal loan depends on the interest rate and repayment tenure. For example, if you choose a tenure of 12 months with an interest rate of 18%, your monthly EMI would be approximately ₹7,633. Use our EMI calculator to get precise figures based on your preferred terms. This helps you plan your finances better and ensures you can manage your repayments comfortably.
Am I eligible for a Rs. 80000 loan with a cash salary?
Yes, you can still be eligible for an 80,000 personal loan even if you receive a cash salary. You will need to provide proof of income through bank statements or other financial documents to demonstrate your repayment capacity. Ensure you have the necessary documentation ready to facilitate the application process. This flexibility ensures that even those without traditional salary slips can access the funds they need.
More Questions
