A mobile personal loan is a loan that you can apply for and get approved for directly from your mobile device. It’s fast, easy, and doesn’t require any paperwork. You can receive up to ₹5 lakhs instantly, all through a simple mobile application process.
Mobile Personal Loans at Your Fingertips!
Get instant access to credit, wherever you are. No paperwork, no waiting—just a few taps and you're done!
Zero Pre-payment charges
Flexible Repayment
Instant Bank Transfer
About Our Mobile Personal Loan
Gone are the days of standing in long queues or dealing with cumbersome paperwork. With mobile personal loans, your credit is available instantly, right from your phone. Whether it's an emergency or an impulse purchase, unlock quick and easy credit through your mobile. Get approval in minutes and watch your dreams come to life without a hitch. Plus, it's all done 100% digitally!
Benefits of Mobile Personal Loan
Instant Approval: Quick decisions for faster access
No Paperwork: 100% paperless process.
Flexible Tenure: Choose repayment terms that suit you.
Easy Access: Apply anytime, anywhere from your mobile.
Features of Mobile Personal Loan
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 Mobile 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.
Mobile 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 Mobile 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 Mobile 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
Ankit S.
Bangalore
"I was in a real pinch when my car broke down. I needed money fast, and RING's mobile personal loan came through like a superhero. The application was so easy, and the funds were in my account in minutes. Plus, paying back is flexible, so it doesn’t stress me out."
Priya K.
Mumbai
I had a family emergency and needed quick cash. RING’s personal mobile loan was a lifesaver. The whole process was straightforward and stress-free. Plus, I get rewards every time I use the app, which is a nice bonus!
Rajesh P.
Pune
Mujhe jaldi se paise mil gaye aur documentation bhi simple tha. RING ne meri emergency mein bahut madad ki. Unki customer service bhi bahut supportive thi aur mujhe sab kuch samjha diya.
Neha M.
Hyderabad
Main apne ghar ke renovation ke liye loan liya tha aur process bilkul smooth tha. Interest rate bhi kaafi accha tha. Mujhe loan repay karne ka bhi bohot flexible option mila, jo mere liye bahut convenient tha.
Sunita R.
Delhi
RING ka customer service bahut accha hai. Mujhe kisi bhi problem mein turant help mili. Unke saath mera experience bahut achha raha aur main zaroor phir se unki services use karunga.
Sameer T.
Chennai
I needed funds to kickstart my small business. RING’s mobile personal loan was a game changer. The loan amount was perfect, and the entire process was so smooth. I especially love the rewards I get for every transaction. Highly recommend it!
Kavita R.
Travelling is my passion, and RING helped me with my dream vacation. The application process was super quick, and the loan amount was more than enough to cover all my travel expenses. Plus, the repayment terms are super flexible.
Manish P.
Getting a personal mobile loan from RING was the best decision. I used the loan for my sister's wedding, and everything went off without a single issue. The customer service team was very helpful and made sure I understood all the terms clearly.
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 a mobile personal loan?
How do I apply for a mobile personal loan?
To apply, download the RING app, complete your profile, and go through a quick KYC process. Once done, you can apply for a mobile personal loan and get approval in just a few minutes!
What are the eligibility criteria for a mobile personal loan?
To be eligible, you must be an Indian citizen above the age of 21 with a valid PAN card and Aadhaar. The application process is 100% digital and doesn’t require any physical documents.
How quickly can I get the loan disbursed?
Once your mobile personal loan is approved, the amount is disbursed directly to your bank account within minutes, making it one of the fastest options for instant credit.
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