A personal loan is an unsecured loan provided for personal use that doesn’t require any collateral. It’s perfect for covering various expenses like medical emergencies, travel, education, and more. Personal loans offer flexibility and can be customised to meet your specific financial needs.
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Zero Pre-payment charges
Flexible Repayment
Instant Bank Transfer
About Our Instant Personal Loans
Instant personal loans by RING are quick and easy to process, and you can get the money in your bank account within a few minutes! It’s extremely useful and convenient to have this on-demand option available so you can manage your financial emergencies without any stress. You can apply for this instant personal loan online and get up to 5 lakhs of money, depending on your profile.
Benefits of Instant Personal Loans
Fast process
No collateral needed; easy and quick
Tailored repayment options
Instant Disbursement
Features of Instant Personal Loans
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 Instant Personal Loans 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.
Instant Personal Loans 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 Instant Personal Loans
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 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
S. Sharma
The instant personal loan process was seamless and quick. I got the funds I needed within minutes, which was a huge relief during an emergency. Highly recommend this service to anyone in need of quick cash.
R. Verma
I was able to get an instant personal loan online within minutes. The application process was straightforward and hassle-free. This service really helped me out in a tight spot. Great service!
A. Patel
Fast, reliable, and no paperwork! Personal loans by RING are a lifesaver. The funds were transferred to my account instantly, and the repayment options are very flexible. Couldn't ask for more.
M. Gupta
Easy application and instant approval. I needed funds urgently for a medical emergency, and this service came through for me. The customer support was excellent and guided me through the process. Couldn't ask for more!
K. Nair
Best service for quick loans. Highly efficient and trustworthy. The entire process was digital, and I didn't have to worry about any paperwork. The interest rates are also very competitive. Very satisfied with the service!
P. Joshi
Excellent customer support and fast loan disbursement. I was able to get the funds I needed without any hassle. The app is user-friendly, and the loan terms are very transparent. Highly recommend this service!
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 an instant personal loan?
How do I check the status of my instant personal loan?
You can easily check your loan status through our app or website by logging into your account. Stay updated with real-time notifications on your application progress, ensuring you are always informed about the status of your loan.
Why is getting an instant personal loan a good idea?
Personal loans provide quick funds without the need for collateral and come with flexible repayment options. They are ideal for managing unexpected expenses and consolidating debts. Additionally, personal loans can help improve your credit score if repaid on time.
How much time will it take for my instant personal loan to be approved?
With our streamlined digital process, personal loans are typically approved instantly within minutes, ensuring you get the funds when you need them the most. This quick turnaround time makes personal loans an excellent option for urgent financial needs.
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