No, a personal loan for a businessman is different from a traditional business loan. While both can be used for business purposes, a personal loan is unsecured and does not require collateral or extensive documentation. It's an excellent choice for quick financial needs, with a faster approval process and more flexible terms compared to business loans.
with a Personal Loan!
Fuel Your Business Dreams
Zero Pre-payment charges
Flexible Repayment
Instant Bank Transfer
About Our Personal Loan for Businessman
Looking to give your business a boost? Whether it's expanding your store, investing in new equipment, or managing day-to-day cash flow, RING’s personal loan for businessmen is here to help. With quick approvals, flexible repayment options, and no collateral needed, it's the perfect financial partner for your entrepreneurial journey!
Benefits of Personal Loan for Businessman
Speedy Disbursal: Funds in your account in under 5 minutes!
Flexibility: Multiple repayment options to suit your needs.
No Hassle: 100% digital process – no paperwork or collateral.
Rewards Galore: Win cashback and exciting rewards on every transaction!
Features of Personal Loans for Businessman
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 a Personal loan for Businessman 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 Loan For Businessman 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 Loan for Businessman
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 Loan for Businessman 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
Dr. MeRajesh Guptaera Shah
Jaipur
I run a small furniture business and needed quick funds to stock up before the festive season. RING’s personal loan for businessmen was a lifesaver! The application was seamless, and the money hit my account in minutes. I’ve never experienced such a hassle-free loan process!
Preeti Mehta
Ahmedabad
As a boutique owner, I wanted to expand my collection, but cash flow was tight. RING’s personal loan helped me get the latest styles in time for the summer rush. The repayment terms were super flexible, allowing me to manage my finances without stress. Highly recommended!
Sanjay Verma
Lucknow
RING is a game-changer for small business owners like me. I needed funds urgently to repair my café equipment, and RING's personal loan for businessmen was the perfect solution. The whole process took less time than making a cup of coffee! Fast, efficient, and reliable.
Anita Nair
Kochi
I own a digital marketing agency, and when a big project came along, I needed additional funds to scale up my operations. RING’s loan came through without any delay. The entire experience was smooth, and I loved how transparent the terms were. Definitely my go-to app for quick loans!
Karan Desai
Pune
I was sceptical about online loans, but RING completely changed my perception. I needed a personal loan for my business expenses, and their app made it so easy! Instant approval, no hidden charges, and excellent customer support. Couldn’t have asked for a better experience.
Sunita Sharma
Chandigarh
RING’s personal loan for businessmen helped me renovate my beauty salon just in time for the wedding season. The funds were disbursed quickly, and I could choose a repayment plan that suited my business cash flow. Plus, the rewards and cashback are a great bonus! A fantastic service overall.
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.
Is the Personal Loan for a Businessman the Same as a Business Loan?
Can a Foreign National Apply for a Personal Loan in India?
No, a foreign national cannot apply for a personal loan through RING. Our loans are available only to Indian citizens who meet the eligibility criteria.
Why Take a Personal Loan for Business?
A personal loan for business is ideal when you need quick funds without the hassle of collateral or lengthy documentation. Whether it’s to manage cash flow, purchase inventory, or invest in equipment, RING offers flexible repayment options, competitive interest rates, and fast approval to help you focus on growing your business.
How to Apply for a Personal Loan for Business?
Applying for a personal loan for business with RING is simple:
- Download the RING app from the Play Store or App Store.
- Register using your mobile number and complete the KYC verification with your PAN and Aadhaar.
- Choose the loan amount and tenure that suits your needs.
- Submit your application and receive approval instantly.
More Questions
