With Ring, the best personal loan app for self-employed individuals, you can get access to loans of up to ₹5 lakhs. The exact loan amount you qualify for depends on factors like your credit score, past repayment history, and the documentation you provide. Whether you need a small amount for day-to-day operations or a larger sum to cover business investments, Ring provides flexible loan options tailored to your needs.
Ring – Empowering the Self-Employed with
Instant Credit Access!
The best personal loan app for self-employed individuals, designed to help you soar to new heights without the hassle. Say goodbye to endless paperwork and hello to seamless, 100% digital lending with Ring.
Zero Pre-payment charges
Flexible Repayment
Instant Bank Transfer
About Our Best Personal Loan App For Self Employed
Whether you're a freelancer, small business owner, or self-employed professional, access to credit can be a game-changer. With Ring, the best personal loan app for self-employed individuals, you can avail of quick loans of up to ₹5 lakhs with just a few taps. No long queues, no mountains of paperwork – just fast, reliable, and transparent personal loans tailored for you.
Benefits of Best Personal Loan App For Self Employed
Easy Access to Credit – Get approved for loans up to ₹5 lakhs with a quick KYC process.
Flexible Repayment Terms – Choose repayment plans that fit your budget, from 3 to 24 months.
No Hidden Fees – Transparent APR between 18% - 36%, with no surprise costs.
Paperless Experience – Enjoy the convenience of a fully digital loan process.
Features of Best Personal Loan App For Self Employed
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
We've made it easy and convenient to apply for a best personal loan app for self employed with us.
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.
Best Personal Loan App For Self EmployedEMI 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 Best Personal Loan App For Self Employed
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 Best Personal Loan App for Self Employed 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
Seema
Freelancer (Mumbai)
I’ve been freelancing as a writer for years, and cash flow can be erratic. I needed a personal loan app that understood my unique financial situation, and Ring was just that. The application process took only a few minutes, and I received my loan in no time. Repayment was smooth and tailored to my cash flow. This really is the best personal loan app for self-employed people like me! Plus, the rewards on transactions are an added bonus.
Kamal
Small Business Owner (Delhi)
Running my small shop means I often need to make last-minute purchases or upgrades. Traditional banks make it so hard for self-employed folks to get loans. But with Ring, I got approved for ₹1 lakh within minutes. I didn’t have to put down any collateral, and the flexible repayment options made it easy to manage. Ring is hands down the best personal loan app for self-employed professionals.
Meera
Entrepreneur (Bangalore)
As someone who just started my own business, Ring came to my rescue when I needed funds to boost my operations. I was initially hesitant about using a loan app, but Ring’s transparency and seamless process put my doubts to rest. Now I use Ring not just for loans but for payments as well. The rewards and cashback make every transaction exciting, and the app is so user-friendly!
Trishant
Graphic Designer (Chennai)
As a self-employed graphic designer, managing finances can be tricky, especially with late payments from clients. Ring has been a game-changer for me. The loan process was paperless and super fast, which is perfect when you need funds immediately. The ability to choose my own repayment schedule was a major plus. If you’re self-employed and need quick credit, this is the best personal loan app you can find.
Deepa P.
E-commerce Seller (Hyderabad)
I manage a small e-commerce store, and when I had to restock inventory urgently, I didn’t know where to turn. A friend recommended Ring, and I’m so glad they did. I applied, got my loan approved within minutes, and was able to pay for my stock without any hiccups. The fact that the process was completely digital made everything so much easier.
Sanjay R.
Consultant (Pune)
Being a self-employed consultant means I don’t always have the luxury of waiting weeks for loan approval. Ring gave me access to the funds I needed quickly, with no questions asked. The best part? No collateral was required, and the entire process was online. I would recommend this app to any self-employed person who needs fast and easy access to personal loans!
Find the Right Personal Loan For You
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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 maximum loan amount I can get through Ring?
Is the application process entirely online?
Yes! The entire process with Ring is fully digital. From applying for the loan to submitting KYC documents, and finally getting approval – everything happens online. There's no need to visit a bank, fill out lengthy forms, or deal with tedious paperwork. Simply download the app, complete your details, and you're on your way to getting approved in a matter of minutes.
What documents do I need to apply for a loan?
Unlike traditional loans that require heaps of paperwork, Ring makes it simple. All you need are two key documents: your PAN card and Aadhaar. These documents will be used for KYC verification, which is also conducted online. In just a few clicks, your documents are verified, and you're one step closer to receiving your loan.
How long does it take to get approved?
With Ring, time is on your side! Once you submit your application and complete your KYC, loans are typically approved within minutes. You’ll receive a notification as soon as your loan is approved, and the funds can be transferred immediately to your bank account or used for purchases. No more waiting for days or weeks to access the credit you need.
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