Self-employed individuals can apply for a personal loan ranging from ₹50,000 to ₹5 lakhs, depending on their credit profile and repayment history. RING assesses each application based on your income patterns and past credit behavior, ensuring you get a loan amount that suits your needs.
Empower your hustle
with a Personal Loan
Flexible Repayment
Instant Bank Transfer
Affordable Rates
About Our Personal Loan for self employed
Whether you're a freelancer, gig worker, or running your own business, RING has got your back. Our personal loan for self-employed individuals ensures you get the funds you need without the hassle. With a quick and paperless process, you can get access to funds in minutes, so you can focus on what truly matters—your passion and business growth.
Benefits of Personal Loan for Self Employed
Zero Paperwork
Flexible Repayments
Instant Approvals
Higher Loan Limits
Features of Personal Loans for Self Employed
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 Self Employed - 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 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 Loan for Self Employed 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.
Personal Loans For Professional
Easy Eligibility
For Salaried, Self-Employed, Small Business owners & MSMEs
Flexible Tenure
Repayment Tenure starting from 3 months to 60 months
Age Requirement
Applicants must be between 21 and 60 years of age
Hear from Our Happy Customers
Rahul Mehta
Mumbai
As a freelance graphic designer, managing cash flow was always a challenge. Clients don’t always pay on time, but my bills certainly do! I was worried about taking a loan because of my inconsistent income, but RING understood my needs. Their personal loan for self-employed helped me purchase a high-end laptop, which boosted my productivity and client base. The entire process was fast, and the best part? I didn’t need to submit a mountain of documents!
Priya Kapoor
Bengaluru
Running a boutique means dealing with sudden expenses—like when a popular fabric is in demand and you need to stock up quickly. With RING, I got an instant personal loan for self-employed and restocked my inventory just in time for the festive rush. The application process was smooth, and I appreciated how transparent they were about interest rates and fees. RING has become my go-to financial partner for business emergencies.
Vikram Singh
Delhi
I've been a wedding photographer for over a decade, and business has its seasonal ups and downs. Last year, I needed to upgrade my camera equipment before the wedding season kicked in, but I didn’t have the upfront cash. RING’s personal loan for self-employed came to the rescue. Their flexible repayment terms allowed me to choose a tenure that matched my cash flow. I can confidently say that RING helped me capture more business—and more memories for my clients.
Sonal Patel
Hyderabad
As a yoga instructor, my income fluctuates from month to month. When I wanted to open my own yoga studio, I needed some quick funds for renovation. I was surprised at how fast RING’s process was—no paperwork and no waiting around! The loan disbursal was instant, and I could start my renovation without any delays. The best part was their customer support, which guided me every step of the way. I highly recommend RING for anyone self-employed like me.
Arjun Rao
Chennai
I run a small digital marketing agency, and scaling up meant investing in tools and hiring new talent. With RING, I could get the funds I needed without jumping through hoops. Their personal loan for self-employed provided the financial cushion that allowed me to take on bigger projects and expand my business. What stood out for me was their no-collateral policy—I didn’t have to pledge any assets, which was a relief. Thanks to RING, my agency is now thriving!
Megha Jain
Pune
Being a freelance content writer, I never thought I’d need a loan—until I had to deal with an unexpected medical expense. RING made it easy for me to get a loan without any fuss. From applying to approval, the entire process was super smooth. Their flexible repayment options allowed me to pay off the loan without stretching my finances. I’m so grateful that RING was there for me when I needed them the most. If you're self-employed and need a financial boost, RING is the way to go.
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 much personal loan can a self-employed individual get?
How do I get a 50K self-employed loan?
Getting a ₹50,000 loan is easy with RING. Simply download the RING app, complete the paperless KYC process, and apply for the loan. Once approved, the funds will be disbursed directly into your bank account. The whole process takes just a few minutes, and you can choose flexible repayment options that work for you.
Which is the best loan app for the self-employed?
RING is one of the best loan apps for self-employed individuals, offering a seamless experience with instant loan approvals, minimal documentation, and flexible repayment terms. Whether you're a freelancer, entrepreneur, or small business owner, RING tailors its services to meet your unique financial needs.
Can a self-employed person get a personal loan?
Yes, a self-employed person can easily get a personal loan through RING. We understand that traditional banks may hesitate due to irregular income patterns, but at RING, we value your hustle and offer loans tailored for self-employed individuals with minimal requirements.
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