Applying for a personal loan in Indore with RING is a breeze! Simply download the RING app and complete your KYC, which takes less than 5 minutes. After submitting your application, you’ll receive instant approval, and the funds can be transferred to your account, often within the same day.
Your Dreams, Our Loans!
Personal Loan in Indore
Zero Pre-payment charges
Flexible Repayment
Instant Bank Transfer
About Our Personal Loan in Indore
In the bustling city of Indore, getting a personal loan has never been easier. With RING, you can unlock personal loan options tailored to your needs in a flash. Our seamless, 100% digital application process allows you to complete your KYC in under 5 minutes, enabling you to access credit up to ₹5 lakhs with APRs ranging from 18% to 36% per annum. Whether it’s for an unexpected expense or a dream vacation, RING is here to help you every step of the way.
Benefits of Personal Loan in Indore
Get up to ₹5 lakhs in your account quickly!
Access higher pre-approved loans by maintaining timely payments.
Flexible repayment options from 3 to 24 months.
Enjoy a fully digital application process with no paperwork.
Features of Personal Loan in Indore
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 Indore 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 Indore 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 Indore
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
Ravi Sharma
Indore
I was initially sceptical about taking a personal loan, but RING made the process incredibly easy. I got a loan of ₹2 lakhs within minutes, and the entire application was done online. Highly recommend it!
Priya Desai
Indore
I used RING to fund my small business and it was a game-changer! The loan amount was just what I needed, and the EMI options fit my budget perfectly. Plus, I loved the cashback rewards!
Suresh Patel
Indore
Thanks to RING, I could renovate my home without any stress. The quick approval process and friendly customer service made all the difference. I felt supported throughout my journey!
Anita Kumari
Indore
RING's personal loan helped me during an emergency. The app is user-friendly, and I appreciated the transparency in fees. I’ll definitely use RING again for future needs!
Rajiv Mehta
Indore
I was pleasantly surprised by how fast RING processed my application. I received my funds in less than 24 hours! A reliable service that I will recommend to my friends.
Neha Yadav
Indore
The team at RING is exceptional! They walked me through every step of the application. Their dedication to customer service is truly commendable. I felt valued as a customer.
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 process to apply for a personal loan in Indore?
What documents do I need to provide for the application?
To apply for a personal loan in Indore, you will need two essential documents: your PAN card and Aadhaar card. These documents help us verify your identity and assess your eligibility swiftly, ensuring a smooth application process.
What is the maximum loan amount I can borrow?
At RING, you can avail of personal loans in Indore of up to ₹5 lakhs, depending on your creditworthiness and repayment history. This flexibility allows you to meet various financial needs, whether it's for a personal expense or an investment.
How is the interest calculated on personal loans?
The interest on personal loans with RING is calculated on an annual percentage rate (APR) basis, which ranges from 18% to 36% per annum. This ensures that you only pay for what you borrow and can manage your EMIs effectively.
More Questions
