A personal loan for salaried employees is specifically tailored for individuals who have a stable income through employment. These loans are typically easier to obtain because lenders consider the consistent paycheck as a sign of reliable repayment capacity. With RING, the process is designed to empower you with financial flexibility when you need it most.
Unlock Your Dreams: The Ultimate Personal Loan App
for Salaried Employees
Welcome to RING, where we believe every salaried employee deserves the chance to turn their dreams into reality! Whether you're looking to finance a dream vacation or cover unexpected expenses, we’re here to make it happen with our personal loan for salaried options!
Zero Pre-payment charges
Flexible Repayment
Instant Bank Transfer
About Our Personal Loan App For Salaried
RING offers personal loans specifically designed for salaried employees, providing quick access to funds ranging from ₹10,000 to ₹5 lakhs. With flexible repayment terms and a hassle-free application process, our loans empower you to manage expenses, pursue dreams, and handle emergencies without the burden of excessive paperwork.
Benefits of Personal Loan App For Salaried
100% Digital Process: No physical documentation needed!
Empathy-Driven Service: We care about your experience and well-being.
Pre-approved Loans: Unlock higher amounts with timely repayments.
Unbelievable Rewards: Earn cashback and rewards with every transaction!
Features of Personal Loan App For Salaried
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 personal loan app for salaried 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.
Personal Loan App For SalariedEMI 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 App For Salaried
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 App For Salaried 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
Aarav Kumar
Bengaluru
RING made my vacation dreams come true! The process was quick, and the funds were in my account before I knew it! I had been planning a trip to the Maldives for years, but the upfront costs were always daunting. Thanks to RING, I could finally book my flights and hotel without stress. The customer service team was also fantastic—they answered all my questions patiently. Highly recommend it for anyone looking to make their travel dreams a reality!
Priya Sharma
Delhi
As a salaried employee, I always felt restricted by my monthly budget. RING opened up so many opportunities for me. I was able to take a personal loan for salaried employees to fund my education, which I thought was impossible. The application was super easy, and I received my funds quickly. Now, I'm pursuing my dream career with confidence!
Rahul Verma
Mumbai
I was hesitant at first, but the app's user-friendly interface made applying for a personal loan so easy. Love the quick approval! I needed funds to manage some unexpected medical bills, and RING came to my rescue. I was pleasantly surprised by how fast the money was disbursed. I will definitely use RING again!
Neha Gupta
Pune
The customer service is amazing! They really care about their users. I felt valued throughout the process. I had a few doubts about the repayment terms, and their team guided me without any rush. This kind of personal touch makes a huge difference. I appreciate how they prioritize customer experience.
Vikram Singh
Hyderabad
No collateral required? That’s a game changer! RING has been a lifesaver during emergencies. I needed a personal loan for a family function, and I was worried about the paperwork. But RING’s quick and straightforward process helped me secure the funds without any hassles. It felt great to have such support during a hectic time!
Sita Desai
Chennai
I’ve used RING multiple times. Each time, I was impressed with how seamless and efficient the entire process was. The rewards and cashback options are an added bonus! Every transaction feels rewarding, and I love how they keep improving their services. I tell all my friends about RING—it’s a game-changer for salaried employees like me!
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 personal loan for salaried employees?
How can I apply for a personal loan using RING?
Applying for a personal loan through RING is incredibly simple. Just download our app, create your account, and complete the paperless KYC process. Once you’ve provided your details, you can choose your loan amount and submit your application. The entire process is designed to be user-friendly and fast, often taking less than five minutes!
What documents do I need to provide?
To ensure a smooth application process, you’ll need to submit your PAN and Aadhaar. These documents help verify your identity and income. With RING, we prioritise simplicity, so you won’t be bogged down with a long list of paperwork.
What is the maximum loan amount I can get?
With RING, eligible salaried employees can secure personal loans of up to ₹5 lakhs. The exact amount depends on your repayment capacity and credit history. The flexibility in loan amounts ensures you can access the funds you need without unnecessary stress.
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