With our quick and paperless KYC process, you can apply personal loan online and get approved in under 5 minutes. Once approved, funds are typically disbursed within a few hours, making it one of the fastest loan services available.
Apply Personal Loan Online
Get The Fastest Personal Loan with RING
Zero Pre-payment charges
Flexible Repayment
Instant Bank Transfer
About Our Online Personal Loans
RING is a 100% digital, made-in-India app that provides long-term and short-term personal loans through an RBI-registered NBFC (Si Creva Capital Services Pvt. Ltd). Our online personal loans are designed to cater to various financial needs, offering credit up to Rs. 5 lakhs with a quick and paperless KYC process that takes less than 5 minutes!
Benefits of Online Personal Loans
Fast process
No collateral needed; easy and quick
Tailored repayment options
No collateral needed; easy and quick
Features of Online 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 Online 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.
Online 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 Online 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 an Online 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
Shriya M
Bangalore
As a young professional, I was worried about how to apply personal loan online. RING made it incredibly easy, and I got the funds I needed for my startup within hours. The app's user interface is intuitive, and I particularly appreciated the EMI calculator that helped me plan my finances. Thanks to RING, my business is now thriving!
Anuj K
Delhi
The RING app is user-friendly, and their interest rates are competitive. I've recommended it to all my friends! What I love most is the rewards program - I've earned significant cashback on my transactions, which has helped offset some of my loan costs. It's great to see a financial app that gives back to its users.
Sneha R
Chennai
I was sceptical about online loans, but RING changed my perspective completely. Their transparent process and clear communication at every step put me at ease. I chose to apply personal loan online with RING and used the loan for my sister's wedding, and the quick disbursal helped me manage the expenses without stress. I'm grateful for RING's 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.
How quickly can I get a personal loan online at Pay with Ring?
Can I get a personal loan without a salary?
While having a regular income improves your chances, RING considers various factors when approving loans. We also consider alternative income sources such as business, rental, or freelance earnings. Contact our customer support team for a personalised assessment of your eligibility.
What are the advantages of personal loans from RING?
RING offers quick approval, competitive rates, flexible repayment options, and a completely digital process. Additionally, we provide a rewards program, the opportunity to increase your credit limit over time, and excellent customer support throughout your loan journey.
How do I prepare for a personal loan?
- Check eligibility: 21+ years old, Indian national.
- Prepare documents: PAN and Aadhaar cards.
- Download the RING app.
- Use our EMI calculator to plan your loan.
- Be ready for quick, paperless KYC.
More Questions
