A personal loan for students is a financial product designed to provide quick access to funds for educational purposes. Whether you need money for tuition, course materials, or living expenses, this loan helps students cover their financial needs while focusing on their studies.
Personal loans for students
to build a bright future
Zero Pre-payment charges
Flexible Repayment
Instant Bank Transfer
About Our Students Loan
Education is your gateway to endless opportunities, and RING is here to ensure that financial constraints never hold you back. Our personal student loans are designed to provide quick and hassle-free access to funds, whether you need help with tuition, course materials, or even living expenses. With RING, you can focus on your studies while we take care of the finances. Apply now and let us help you achieve your academic and career goals.
Benefits of students loans
Fast Approvals: Get your personal student loans approved in just a few minutes.
100% Digital: No paperwork, no hassle—everything is done online.
Flexible Repayment: Choose repayment options that work for you.
Higher Loan Limits: Secure higher loan amounts with timely payments.
Features of Personal Loans for Students
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 Students 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 Students Personal Loan
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 student 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
Rahul
Student
I was worried about how I would manage my tuition fees and living expenses during my final year of college. That's when I discovered RING's personal student loans. The process was smooth, and I had the funds in my account within minutes. Now, I can focus on my studies without any financial stress. RING has truly been a lifesaver.
Ananya
Student
Balancing studies and a part-time job was tough, especially when unexpected expenses came up. RING's personal loan for student needs made it so much easier to manage everything. The best part? The application process was entirely online, and I didn't have to submit any physical documents. I’m so glad I found RING—it’s the perfect solution for students.
Vikram
Student
I needed funds to purchase a laptop and study materials for my engineering course. RING's personal student loans came through for me when I needed it the most. The flexible repayment options allowed me to choose a plan that suited my budget. RING made it possible for me to focus on my education without worrying about finances.
Sonal
Student
RING’s personal loan for students helped me cover my course fees and living expenses while studying abroad. The process was quick, and I received the funds instantly. The flexibility in repayment made it easy for me to manage my finances while focusing on my studies. I highly recommend RING to all students in need of financial support.
Neha
Student
As a medical student, the expenses can add up quickly. RING's personal student loans helped me cover my exam fees and other academic costs. The entire process was seamless, and I was impressed with how quickly the funds were disbursed. RING is the best option for students who need financial assistance.
Amit
Student
I was able to fund my online certification course with the help of RING's personal loan for students. The application process was simple and fast, and I received the funds almost immediately. The loan has given me the financial freedom to invest in my education and career growth.
Find the Right Personal Loan For You
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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 Loan for students?
How to apply for a Personal Loan for students instantly?
Applying for a personal loan for students with RING is easy and quick. Download the RING app, complete the simple application form, and submit your KYC details. The entire process takes just a few minutes, and you can get the funds directly into your bank account.
What are the eligibility criteria for a Personal Loan for students?
To be eligible for a personal loan for students, you need to be an Indian citizen, aged 21 or above, with a valid PAN and Aadhaar card. There’s no need for collateral, making it accessible for students across various academic levels.
What is the tenure for a Personal Loan for students in India?
The repayment tenure for a personal student loan ranges from 3 to 24 months. This flexibility allows you to choose a repayment plan that suits your financial situation and ensures that repaying the loan doesn’t become a burden.
More Questions
