To apply for a personal loan in Chennai with RING, the applicant must be at least 21 years of age. This ensures that individuals are financially responsible and capable of managing loan repayments.
Get the credit you deserve, without the hassle.
Unlock Your Dreams with a Personal Loan in Chennai!
Zero Pre-payment charges
Flexible Repayment
Instant Bank Transfer
About Our Personal Loan in Chennai
At RING, we understand your aspirations. Whether you're planning a dream wedding, upgrading your home, or managing a personal emergency, our personal loan finance in Chennai ensures you have the funds you need when you need them. No lengthy paperwork. No long waiting periods. Just fast, flexible, and easy credit.
Benefits of Personal Loan in Chennai
Quick and Easy Approval: Apply in minutes, get approved in seconds!
Completely Paperless: No more paperwork headaches—KYC done digitally.
Repayment Flexibility: Choose repayment plans from 3 to 24 months to suit your budget.
Up to ₹5 Lakhs Credit: Get approved for amounts ranging from small needs to large investments.
Features of Personal Loan in Chennai
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 in Chennai 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 in Chennai 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 in Chennai
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
Arun Kumar
Chennai
I was planning to renovate my home, but I needed quick funding. After researching various options for a personal loan in Chennai, I came across RING. To my surprise, the application process was so fast that within minutes of submitting my details, I was approved for the amount I needed. The best part? The funds were transferred almost instantly! The digital KYC was smooth, and I didn’t have to deal with any paperwork hassles. If you’re looking for a fast and reliable personal loan in Chennai, RING is the way to go!
Meenakshi Iyer
Chennai
With my daughter’s wedding coming up, I was worried about managing all the expenses. I wanted a loan that was quick, easy, and flexible. That’s when I found RING and applied for a personal loan in Chennai through their app. The entire process was so convenient, and the loan approval took just a few minutes. The repayment options are incredibly flexible, allowing me to plan my finances without any stress. RING made what could have been a stressful situation so easy, and I could focus on enjoying the wedding instead of worrying about money.
Vikram Reddy
Chennai
I was in an urgent situation when I needed cash for a medical emergency. A friend recommended RING, and I decided to apply for a personal loan in Chennai. I couldn’t believe how easy the process was! The app was user-friendly, and after completing the digital KYC, I got an instant loan approval. Within minutes, the funds were in my account, and I could take care of the emergency without any delays. RING’s personal loan finance in Chennai was a real lifesaver.
Sanjay Gupta
Chennai
As a small business owner, managing cash flow can be tough. I needed funds for my business expansion, and after comparing options, I decided to apply for a personal loan finance in Chennai with RING. Their app was easy to use, and the no-paperwork, no-collateral process really stood out. My loan was approved almost instantly, and I could access the money immediately. With RING, I felt supported throughout the process, and their flexibility in repayment made it easy for me to keep my business running smoothly.
Priya Raj
Chennai
Customer service is everything when it comes to financial services, and RING truly delivers. I applied for a personal loan in Chennai and had a few questions during the process. The RING support team was quick to respond and guided me through the application in the friendliest way. Their transparency about interest rates and repayment options made me feel secure, and the entire process was seamless. Thanks to RING, I now have peace of mind when managing my finances.
Anjali Menon
Chennai
I’ve always been a little sceptical about digital lending apps, but RING completely changed my perspective. I applied for a personal loan in Chennai, and the process was so smooth and transparent that I felt secure every step of the way. I love how they don’t require any physical documents and that I could complete the KYC online. Plus, the app is super easy to navigate, and I had my loan approved and disbursed in record time. RING is now my go-to solution for financial needs!
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 age limit to apply for a personal loan in Chennai?
What is the maximum personal loan repayment tenure at Paywithring?
RING offers flexible repayment tenures that range from 3 to 24 months. This allows you to choose a repayment plan that suits your financial situation. Whether you want to clear your loan quickly or stretch it over a longer period for lower EMIs, RING has got you covered!
Are the interest rates competitive for Personal Loans in Chennai?
Absolutely! RING offers highly competitive interest rates for personal loans in Chennai, with Annual Percentage Rates (APR) ranging between 18% and 36%, depending on your credit profile. These rates are designed to be affordable while ensuring quick and easy access to credit when you need it most.
How can I apply for a Personal Loan in Chennai with Paywithring?
Applying for a personal loan in Chennai through RING is incredibly simple. Just follow these steps:
- Download the RING app on your smartphone.
- Complete the digital KYC process by submitting your PAN and Aadhaar details.
- Select the loan amount and tenure that best fits your needs.
- Get an instant approval and the funds will be disbursed directly to your bank account. No paperwork, no delays!
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