You can easily get a personal loan for salaried individuals with a low salary by applying through the RING app. We consider various factors beyond just salary, such as your overall financial profile and repayment history. You can apply directly through the app, and we’ll assess your eligibility without any bias.
Finance your best life
with RING Personal loans
Flexible Repayment
Instant Bank Transfer
Affordable Rates
About Our Personal Loan for Salaried
At RING, we understand that salaried individuals like you work hard and dream big. Our personal loan for salaried professionals is designed to give you quick and easy access to funds, whether it’s for an emergency, a major purchase, or just because you deserve a treat. With loan amounts up to ₹5 lakhs and a fully digital process, getting a personal loan has never been this simple. Plus, with no collateral required, it’s all about making your life easier.
Benefits of Personal Loan for Salaried
Instant Approvals
Flexible Tenures
Collateral Free Loans
Affordable Interest Rates
Features of Personal Loans for Salaried
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
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 Salaried 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 Salaried
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 Salaried 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 Sharma
Delhi
I needed funds to cover some unexpected expenses for my sister’s wedding, and RING came through in the nick of time. The personal loan for salaried employees was processed so quickly that I didn’t have to worry about anything. The digital application was straightforward, and the money was in my account within hours. It’s definitely a relief to know that I have this option whenever I need it.
Richa Patel
Mumbai
After years of saving, I finally decided to renovate my apartment, but the costs quickly added up. That’s when I turned to RING. The personal loan for salaried professionals made the entire process stress-free. I was able to get the funds I needed without any hassle. The flexible repayment options also allowed me to manage my finances comfortably. I’m so glad I found RING when I did.
Suresh Nair
Chennai
When my mother had a medical emergency, I didn’t have time to go through a lengthy loan process. RING’s personal loan for salaried employees was a lifesaver. The quick disbursal and simple application meant I could focus on what mattered most—taking care of my family. The entire experience was smooth, and the customer support team was genuinely helpful.
Priya Verma
Bengaluru
I had always dreamed of studying abroad, but the costs were overwhelming. RING’s personal loan for salaried individuals gave me the financial boost I needed to make my dream a reality. The application process was so simple that I could apply right from my phone, and the funds were available almost immediately. I’m now on my way to pursuing my goals, thanks to RING.
Rajesh Gupta
Pune
I’ve always wanted to take my family on a grand vacation, but saving for it seemed impossible with my day-to-day expenses. RING’s personal loan for salaried employees turned that dream into a reality. The best part was that I didn’t have to deal with tons of paperwork. Everything was done online, and the loan amount was credited to my account without any delay. This experience has made me a loyal customer.
Kavita Rao
Hyderabad
Buying a car seemed out of reach until I came across RING’s personal loan for salaried employees. The entire process was seamless, and the competitive interest rates meant that I could afford the car without straining my budget. The loan disbursal was quick, and the repayment terms were flexible enough to fit within my monthly salary. RING made it all possible for me.
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 do I get a personal loan for a low salary?
Do I need to submit any security for a low-income personal loan?
No, RING’s personal loan for salaried employees does not require any security or collateral. You can get up to ₹5 lakhs without having to pledge any assets.
Is CIBIL Score compulsory for a low-salary instant personal loan?
While a good CIBIL score helps in getting better terms, it’s not the only factor we consider. RING evaluates your entire financial profile, making it easier for salaried employees with varying credit scores to get a personal loan.
Will I get a low-income personal loan with a cash salary?
Yes, you can still apply for a personal loan for salaried individuals even if you receive your salary in cash. Just ensure you provide accurate details during the application process, and our team will assess your eligibility.
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