A personal asset loan is a loan an individual applies for specifically for the purpose of assets. This could be getting a new car, bike or any other asset
Car, Bike, Home?
It's possible with RING Personal Loans
Flexible Repayment
Instant Bank Transfer
Affordable Rates
A Personal Loan for the dreamer in you
Whether you’re dreaming about a new car, bike or renovating your home, with RING’s personal loans for Assets, your dreams can now become a reality. Our asset loans are designed to cater to your specific needs, offering flexible repayment options up to 60 months. With minimal documentation and instant approvals, you can focus on selecting the right asset instead of worrying about finances. Experience the joy of new possessions without breaking the bank. Let RING be your partner in creating unforgettable memories. With just a few clicks, you can apply for RING’s instant personal loan for assets and get that upgrade that you have been thinking about.
Benefits of Personal Asset Loan
Instant Approvals
Higher Loan Amounts
Flexible Tenures
Affordable Rates
Features of Personal Loans for Assets
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 Assets 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 Assets
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 travel 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
Anjali s.
Agra
I am Anjali. I always wanted a new car to commute to work and travel on the weekends. However, given the high living expenses and other costs, I could never really save any money for the car. When I came across RING, it looked like the perfect solution. In just minutes, I got loan approval and chose to repay in 60 months!
Garima D.
Udaipur
I am an artist, and I feel it is important for an artist to have a home that resonates with their art. I was looking for personal loans that could help elevate my home interior. RING instantly approved my loan which I used to renovate my home completely!
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 personal asset loan?
How to apply for a personal asset loan?
With just three simple steps, you can apply for a personal asset loan: Check your Eligibility Choose required amount And Get your one-click KYC done
What are the eligibility criteria for getting an instant personal asset loan?
Age: 21 yrs. To 60 yrs. Employed or Self-Employed Decent Credit score and a Reliable identity proof
What is the tenure for a Personal Loan for assets?
The best part about your Personal Asset Loan is that you can decide the tenure of your Loan. Choose between 3 and 60 months and pay as per your budget and convenience.
More Questions
