A digital personal loan is a loan that you can apply for entirely online. There’s no need for any paperwork or physical visits to a bank. Everything, from application to approval, happens through the RING app. Once you submit your details and complete the KYC process, your loan is approved almost instantly, and the funds are transferred directly into your bank account. It’s a fast, hassle-free way to get the money you need when you need it.
Get Credit in a Click: Say Hello to Your Digital Personal Loan!
Because waiting is so last century.
Zero Pre-payment charges
Flexible Repayment
Instant Bank Transfer
About Our Digital Personal Loan
In today’s fast-paced world, waiting around for a loan approval is a thing of the past. With RING’s digital personal loan, you get access to instant funds without the need for paperwork or long processes. Whether you’re dealing with an unexpected emergency, planning a dream vacation, or covering last-minute expenses, our digital personal loans have your back. Apply, verify, and get funds directly into your bank account in just a few clicks. With RING, your digital personal loan is not just fast—it’s secure, convenient, and reliable. Plus, with up to ₹5 Lakhs available, the possibilities are endless.
Benefits of Digital Personal Loan
Instant approval in minutes, right from your phone
Completely paperless process—no physical documents needed
Flexible repayment options tailored to your schedule
No collateral required—just your PAN and Aadhaar
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 an Digital Personal Loan 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.
Digital Personal Loan 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 Digital Personal Loan
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 Digital 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, 34
Bengaluru
I was initially hesitant about taking a loan online, but RING made everything so simple. I had an emergency medical expense, and I needed funds quickly. I downloaded the app, completed the KYC process, and in less than 10 minutes, the money was in my account. The entire process was stress-free, and the fact that I didn’t have to submit any physical documents was a huge relief. RING came through when I needed it the most.
Pooja, 29
Mumbai
RING’s digital personal loan literally saved my business. I run a small shop in Mumbai, and I needed money quickly to stock up for a festival rush. I applied for the loan, and within hours, the funds were transferred to my account. The best part is that the process was 100% online—no waiting, no paperwork, just instant approval. I’ll definitely be using RING again for future business needs.
Anil, 32
Delhi
As a freelancer, traditional banks were not an option for me when I needed a quick loan. RING’s instant digital personal loan was a lifesaver. I didn’t have to gather loads of documents or wait in long lines. The app asked for my PAN and Aadhaar, and the approval came through almost immediately. Within minutes, I had the money I needed to cover some urgent bills. RING makes loans so much more accessible for people like me.
Sneha, 27
Hyderabad
I’ve never experienced such a fast loan process. I applied for a digital personal loan through RING, and in less than 10 minutes, the funds were in my account. The entire process was seamless—from uploading my documents to receiving the disbursement. RING is definitely my go-to app for quick, hassle-free loans.
Karan, 30
Pune
What really impressed me about RING was how easy the whole process was. I didn’t even have to step out of my house. I applied from my living room, got the loan approved within minutes, and had the amount credited to my account. The fact that everything is done digitally makes it incredibly convenient, especially in today’s world where time is of the essence.
Megha, 40
Chennai
I needed a small loan for some urgent home repairs, and RING was perfect for that. The repayment options are so flexible, I could choose a plan that suited my budget. The best part is, I didn’t have to deal with mountains of paperwork or wait for weeks for approval. Within a few clicks, I had the loan I needed, and I could start working on my house right away.
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 exactly is a digital personal loan, and how does it work?
How long does it take to get an instant digital personal loan?
With RING, the entire process is incredibly quick. From the moment you apply to the time the funds are credited to your account, it takes less than 5 minutes. As soon as your KYC is complete, the loan amount is approved and disbursed. This is why it’s called an instant digital personal loan—because you can get your funds almost immediately.
Are there any hidden charges or fees I should be aware of?
No, RING is completely transparent about all charges. You’ll know the exact interest rate, processing fee, and repayment terms before you even apply for the loan. We don’t believe in hidden fees or unexpected charges. Everything is laid out clearly so that you can make an informed decision.
What is the maximum amount I can borrow through a digital personal loan?
With RING, you can borrow up to ₹5 Lakhs, depending on your eligibility. The amount you qualify for is based on your credit score, repayment history, and financial details. If you repay your loans on time, you can also unlock higher pre-approved loan amounts in the future.
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