A paperless personal loan is a fully digital loan process that doesn’t require you to submit any physical documents. You can apply, verify your identity, and receive the loan all through the RING app.
No more paperwork, just easy credit with
a paperless personal loan!
Tap, Borrow, and Go! Whether it’s a new ride or home makeover, RING’s paperless personal loan gets you covered in minutes.
Zero Pre-payment charges
Flexible Repayment
Instant Bank Transfer
About Our Paperless Personal Loan App
At RING, we’re all about convenience. Our paperless personal loan process is built for those who don’t want to deal with endless forms and bank visits. With just a few taps, you can secure the loan you need, up to ₹5 lakhs, and repay at your own pace. Whether it's for a quick purchase or long-term goal, we’re here to help you every step of the way.
Benefits of Paperless Personal Loan App
Instant Approval – Get your paperless personal loan approved in minutes!
No Documentation Hassles – Ditch the paperwork with 100% digital KYC.
Flexible Repayment – Pick a repayment plan that suits you, up to 24 months.
Exclusive Rewards – Enjoy cashback and rewards with every transaction on RING.
Features of Paperless Personal Loan app
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 Paperless personal loan app 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.
Paperless Personal Loan App 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 Paperless Personal Loan App
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 Paperless Personal Loan App 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
Sumit
Mumbai
I was sceptical at first, but RING made getting a loan super simple! The paperless personal loan process took less than 10 minutes. I didn’t need to submit any physical documents, and the money was in my account the same day. Truly hassle-free!
Riya
Delhi
I used RING to renovate my home, and it was such a smooth experience. I applied for the loan during my lunch break, and by the time I got home, the money was already in my bank account. Their paperless KYC is a game-changer.
Keval
Bangalore
I never imagined getting a personal loan could be this easy. RING’s paperless personal loan feature saved me so much time. Plus, their app is really easy to use. Within a few taps, my loan was approved and disbursed!
Diya
Hyderabad
I needed a quick loan for an urgent medical expense, and RING came to the rescue! The best part is that there was no need for endless documentation or bank visits. I was able to get the loan and manage everything from my phone.
Karan
Pune
I’ve used RING for multiple small purchases and it’s been fantastic. The paperless personal loan option is super convenient, and the flexible repayment terms are great. I’m a customer for life!
Neha
Kolkata
RING is a lifesaver! I was planning a vacation and needed some extra funds. I applied for their paperless personal loan and got the amount I needed in no time. The app is so user-friendly, and the process was completely stress-free!
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 a paperless personal loan?
How do I apply for a paperless personal loan on RING?
Simply download the RING app, complete a quick KYC process, and submit your loan application. The entire process is digital and takes just a few minutes!
What is the maximum loan amount I can get with a paperless personal loan?
You can get a loan of up to ₹5 lakhs, depending on your credit eligibility and repayment history.
How long does it take to get approval for a paperless personal loan?
With RING’s instant approval system, you can get your loan approval within minutes. Once approved, the loan amount is disbursed directly into your account.
More Questions
