A personal loan without collateral is an unsecured loan where you don’t need to provide any asset, like property or savings, as security. RING offers personal loans without collateral, allowing you to borrow up to Rs. 5 lakhs with just a quick and paperless process through the app.
Personal Loan Without Collateral: Easy and Secure!
Get credit quickly without the need for collateral.
Zero Pre-payment charges
Flexible Repayment
Instant Bank Transfer
About Our Personal Loans No Collateral
RING makes personal loans without collateral easy and accessible for everyone. With RING, you can get a personal loan without collateral, ensuring that you don’t have to put up any assets as security. Whether it’s an emergency or planned expense, RING offers a fully digital, hassle-free process that gives you access to funds up to Rs. 5 lakhs with quick approval and no paperwork.
Benefits of Personal Loans No Collateral
No collateral required – unsecured loans
Quick approval and disbursement
Paperless KYC process in under 5 minutes
Flexible repayment options up to 24 months
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 Personal Loans No Collateral 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 Loans No Collateral 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 Loans No Collateral
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 Loans No Collateral 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
Rohit Patel, 28
Marketing Executive, Ahmedabad
When I needed a loan to fund my brother’s wedding, I didn’t want to risk putting up collateral. RING’s personal loan without collateral was the perfect solution. I applied online, got approved within minutes, and had the money in my account the same day! The best part? I didn’t need to offer any security for the loan. It was all digital and hassle-free. I’m so relieved I found RING.
Aarti Sharma, 30
Homemaker, Delhi
I was hesitant to apply for a loan because I didn’t have any assets to offer as collateral. That’s when I discovered RING’s personal loan without collateral. The process was simple, and I didn’t have to submit any documents physically. Everything was done on my phone! The funds helped me cover medical expenses, and the repayment terms were easy to manage. I’m grateful to RING for their fast and efficient service.
Vivek Mehta, 35
Small Business Owner, Pune
I needed funds to expand my business but didn’t want to risk using my property as collateral. RING’s personal loan without collateral gave me the perfect opportunity. The whole process was 100% digital, and I didn’t need to submit any security or assets. In just a few hours, I had the loan approved and transferred to my account. RING truly supports small business owners like me by offering loans without security.
Priya Singh, 26
Freelancer, Bengaluru
Being a freelancer means I don’t always have a steady income, so getting a loan with collateral wasn’t an option for me. RING’s personal loan without collateral was just what I needed. The application process was easy, no paperwork or collateral was required, and I got approved within minutes. The money was credited to my account the same day, and I was able to use it for a big project. RING is my go-to app now!
Amit Sinha, 40
Retail Store Owner, Lucknow
Running a retail store has its challenges, and I needed extra funds to stock up inventory during the festive season. Thanks to RING’s personal loan without collateral, I was able to get the loan without risking any of my assets. The digital process was quick, easy, and hassle-free. I got my loan approved the same day, and the repayment terms were flexible, allowing me to manage my cash flow efficiently.
Neha Gupta, 29
Consultant, Mumbai
I was looking for a loan but didn’t want to deal with the headache of collateral. RING’s personal loan without collateral was the perfect fit. The entire process was digital, and I didn’t have to submit any documents physically. Within hours, I had access to the funds I needed, and the repayment options were super flexible. RING made everything so easy and convenient. Highly recommended!
Find the Right Personal Loan For You
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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 without collateral?
How can I apply for a personal loan without collateral on RING?
Applying for a personal loan without collateral is easy on RING. Simply download the RING app, complete your digital KYC, and submit your application. No physical documents are needed, and you don’t have to pledge any assets. You’ll receive instant approval, and the funds are transferred to your account in a few hours.
Do I need to provide any security for a personal loan without collateral?
No, you don’t need to provide any security or collateral when applying for a personal loan without collateral from RING. These are unsecured loans, meaning you won’t have to risk any of your personal or business assets.
What is the maximum loan amount I can get with a personal loan without collateral?
With RING, you can borrow up to Rs. 5 lakhs through a personal loan without collateral. The amount depends on your eligibility and credit profile, but no collateral is required to secure the loan.
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