RING Loan
PayWithRing of RING App by Kissht is a trusted digital platform that offers instant personal loans and fast UPI payments. This fully digital lending platform offers quick personal loans ranging from ₹5,000 to ₹5 Lakhs in 5 minutes with same-day disbursal. RING loans are for salaried as well as self-employed users to meet their financial needs. The repayment tenure varies between 3 and 36 months, whereas the interest rate starts from 3.8% per month.
RING Loan App Details
Below are the key details of the personal loan of the RING Loan app:
| Loan Amount | ₹5,000 to ₹5,00,000 |
|---|---|
| Repayment Tenure | 3 months to 36 months |
| Interest Rate | Starting from 3.8% per month |
| Processing Fee | Around 4.13% of the loan amount |
| Minimum Age | 24 years |
| Annual Income | ₹5 Lakhs and above |
| CIBIL Score | 700 or higher |
Features & Benefits of RING Loan
Here are the key features and benefits of the personal loan offered by the RING Loan App:
- Personal loans range from ₹5,000 to ₹5,00,000 to suit every financial need, including education fund, medical emergency, debt consolidation, wedding expenses, home repairs, travel, etc.
- Flexible tenure ranges from 3 to 36 months.
- Flexible EMI payment options for a hassle-free repayment experience.
- Zero hidden charges.
- Loans are available within minutes, right into your bank account without any paperwork.
- Zero prepayment charges during the cooling-off period.
- 100% easy digital KYC.
- RING works with RBI-registered NBFCs such as Si-Creva Capital Services Pvt. Ltd., Northern Arc, MAS Financial Services Ltd., and Utkarsh Small Finance Bank.
RING Loan Interest Rates & Charges
Below are the interest rates and charges associated with the RING Loan:
- Interest rate: Starts at 3.8% per month
- Processing fee: Around 4.13% of the loan amount
- Foreclosure charges: 4% on the principal amount to be foreclosed & interest + applicable taxes (not applicable during the cooling-off period).
- One-time overdue charge: ₹50 to ₹200, depending on the overdue amount + 18% GST.
- Daily penalty charge: ₹10 to ₹50, depending on the overdue amount + 18% GST.
- Bounce charges: ₹650 per EMI per instance of default; payable apart from payment of applicable daily penal charges.
- Penal charges for continuing default in repayment of EMI: 0.1% per day of the overdue principal amount at an annualised rate of 36% p.a.
- Other charges: Stamp duty & other cess would be collected at applicable rates from time to time.
Compare the RING App with Other Loan Apps
Below is a comparison of the RING Loan app with other loan apps:
| Lender | Interest Rate | Loan Amount | Tenure |
|---|---|---|---|
| RING | 3.8% p.m. onwards | ₹5,000 - ₹5 Lakh | 3 to 36 Months |
| Upwards | 16% – 36% p.a. | ₹25,000 – ₹5 Lakh | 6 to 36 Months |
| FLot Loan | 2% p.m. onwards | ₹1,000 – ₹99,000 | 3 to 12 Months |
| Jupiter Money | 1.33% p.m. onwards | Up to ₹5 Lakh | 3 to 24 Months |
| Airtel Finance | 12.75% p.a. onwards | ₹10,000 – ₹9 Lakh | 3 to 60 Months |
| Branch Loan | 2% – 4% p.m. | ₹500 – ₹5 Lakh | 3 to 12 Months |
| TrueBalance | 2.4% p.m. onwards | ₹5,000 – ₹2 Lakh | 6 to 12 Months |
| PayRupik | Up to 36% p.a. | ₹1,000 – ₹1 Lakh | 3 to 12 Months |
| Speedo Loan | Up to 1% per day | ₹5,000 – ₹1 Lakh | Up to 12 Months |
| Anytime Rupee | 0.1% to 1% per day | ₹2,000 – ₹30,000 | 2 to 3 Months |
Eligibility Criteria for RING App Loan
Below are the eligibility criteria required for the RING app loan:
- Minimum Age: Above 24 years old.
- Annual Income: Above ₹5 Lakhs.
- CIBIL Score: Above 700.
- Employment: Salaried or self-employed with a stable income.
- Location: India resident with a serviceable address.
Documents Required for RING App Loan
The RING Loan app requires the following minimal documents for a personal loan:
- PAN Card
- Aadhar Card
- Selfie
- Bank account details to link your account for receiving the loan amount and set up NACH/auto-debit for repayment.
- Income proof (if needed): A bank statement of the last 3-6 months/ salary slip may be requested for high-value loans.
Steps to Apply for an RING Loan Online
The RING Loan app requires you to complete the following steps to apply for a personal loan:
- Download and install the PayWithRing Personal loan app.
- Register with your mobile number.
- Complete 100% digital PAN and KYC process.
- Choose the required loan amount and repayment tenure.
- Sign loan agreements online from approved NBFCs.
- Provide your bank details for receiving the loan amount and set up NACH/auto-debit for repayment.
- Request a money transfer to your bank account.
RING App Customer Care Number
If you have any queries regarding the RING app loan, you can contact their team through any of the following ways:
- Call the customer care number on: 08044745880/ 08062816300
- Write an email to care@pay-with-ring.com
FAQs
The RING app, powered by Kissht, operates in partnership with RBI-registered NBFCs (Non-Banking Financial Companies) named Si-Creva Capital Services Pvt. Ltd., Northern Arc, MAS Financial Services Ltd., and Utkarsh Small Finance Bank.
Yes, you can get a loan without income proof on the RING App. The RING App does not require any traditional income proof, like salary slips, in many cases.
The interest rate charged by the RING Loan App starts from 3.8% per month.
- Call customer care number on: 08044745880/ 08062816300
- Write an email to: care@pay-with-ring.com
The repayment tenure available on the RING Loan App ranges from 3 to 36 months.
Reshma Rawat is a passionate writer with a decade of experience in writing for a variety of domains (finance, technology, lifestyle, e-commerce, real estate, etc.). Currently, she is working as Assistant Manager - Content @MyMoneyMantra and writes blogs & webpages on financial products (loans, credit cards, insurance, government financial policies, mutual funds, etc.).
Director- MyMoneyMantra FinTech| A senior retail and commercial banking professional, adept at handling Business Development, Sales Planning & Growth, Product Strategy, Marketing Operations and Client advisory services phygitally.