The processing fee for a personal loan with RING is one of the lowest in the market. It typically ranges between 1% to 3% of the loan amount, ensuring you get the most out of your loan without worrying about high upfront costs. For example, if you borrow Rs. 1 lakh, your personal loan processing fees could be as low as Rs. 1,000 to Rs. 3,000 depending on the loan terms. We believe in complete transparency, so there are no hidden charges to worry about.
Lowest Processing Fee for Personal Loan: Unlock More for Less!
Because saving on fees means more cash in your pocket!
Zero Pre-payment charges
Flexible Repayment
Instant Bank Transfer
About Our Lowest Processing Fee For Personal Loan
Imagine getting the funds you need with the lowest processing fee for a personal loan in the market. At RING, we ensure that applying for a loan isn't just quick and paperless but also budget-friendly. Whether you're financing a dream or handling unexpected expenses, our personal loan processing fees are designed to make borrowing as smooth as possible.
Benefits of Lowest Processing Fee For Personal Loan
Low processing fee for personal loan—Maximize your loan value.
Instant approval—Get funds within minutes.
Flexible repayment options—Choose what works for you.
No hidden charges—What you see is what you get.
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 Lowest Processing Fee For 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.
Lowest Processing Fee For 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 Lowest Processing Fee For 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 Lowest Processing Fee For 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
Suman Rao, 28
Pune
I needed an urgent loan for my sister’s wedding, but I was worried about the high personal loan processing fees that banks charge. RING made it so easy. The processing fee for personal loan was incredibly low, and I got the amount disbursed in just a few minutes. It was like a dream come true!
Ajay Sharma, 34
Delhi
I’ve had bad experiences with hidden charges before. But with RING, the processing fee for personal loan was clear upfront, and I didn’t have to worry about any surprise costs later. The transparency was refreshing!
Neha Gupta, 30
Bengaluru
I applied for a loan to cover some emergency medical expenses, and the last thing I wanted was to be burdened by a huge processing fee for a personal loan. RING’s fee was minimal, and the loan approval was instant. Couldn’t have asked for more!
Rohit Jain, 40
Mumbai
I run a small business and sometimes need quick funds. With RING, I’ve taken multiple loans, and the personal loan processing fees have always been low and easy on my pocket. I trust them completely.
Pooja Desai, 27
Ahmedabad
Applying for a loan through RING was the easiest thing I’ve done. The processing fee for personal loan was minimal, and everything was done online. Within 5 minutes, the money was in my account!
Vikram Malhotra, 35
Chennai
I’ve always been sceptical about online loans, but RING changed my mind. The personal loan processing fees were clearly stated, and the loan process was incredibly fast. No surprises, no stress!
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 processing fee for a personal loan with RING?
Are personal loan processing fees refundable?
Unfortunately, personal loan processing fees are non-refundable. The fee covers the administrative costs involved in processing your loan. However, rest assured that our processing fee for a personal loan is minimal and competitive, ensuring you get the best value for your loan application.
How do I know the exact processing fee for my personal loan?
When you apply for a loan with RING, we will clearly state the processing fee for a personal loan upfront during the application process. This way, you will know exactly how much it will cost before you proceed. The fee is typically deducted from the disbursed loan amount, so no surprises.
Can I reduce the processing fee for my personal loan?
While the processing fee for a personal loan is a fixed percentage based on the loan amount, you can unlock better loan terms, including potentially lower fees, by maintaining a good credit score and repaying your loans on time. RING rewards timely repayments with higher pre-approved limits and competitive fees.
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