Need urgent cash? The RING Loan App promises instant personal loans up to ₹8 lakhs in India. But with countless loan apps turning out to be scams, how do you know if RING is trustworthy? In this no-nonsense review, we’ll break down its RBI approval status, interest rates, customer care, and real user experiences. Let’s find out if it’s worth your trust!
RING Loan App Details
Launched in December 2021 by Onemi Technology Solutions Pvt. Ltd., RING is a digital lending platform available on the Google Play Store and its official website. With over 10 million downloads, it offers loans ranging from ₹2,000 to ₹8 lakhs with minimal paperwork. But does it deliver on its promises?
Key Features:
- Loan Amount: ₹2,000 to ₹8 lakhs
- Interest Rate: 18% – 36% per annum (varies by credit profile)
- Repayment Tenure: Flexible options
- Eligibility: Age 21+, PAN & Aadhaar, stable income
Is RING Loan App RBI Approved?
Yes! RING partners with RBI-registered NBFCs like Poonawalla Fincorp and MAS Financial Services. This ensures compliance with RBI guidelines, making it a legitimate option. However, always verify NBFC names during application to avoid fraud.
Interest Rates: Is RING Affordable?
Personal loans are pricey, and RING is no exception. Its 18% – 36% interest rate hinges on your credit score and loan amount. For example:
- Good credit (750+): ~18-24%
- Average credit (600-700): ~30-36%
Tip: Compare rates with banks or other apps like MoneyTap or Slice before committing.
Eligibility & Documents
Getting a loan requires:
- Age: 21+ years
- ID Proof: PAN and Aadhaar
- Credit Score: 650+ for better rates
No physical documents are needed—everything’s digital!
RING Loan App: Real or Fake?
Our Verdict: RING is legit but proceed with caution. While it’s RBI-compliant and offers quick disbursals, users report mixed experiences:
Pros ✅
- Instant approval (as fast as 24 hours)
- No collateral or paperwork
- 24/7 customer support
- Flexible repayment plans
Cons ❌
- High interest rates (up to 36%)
- Complaints about unresponsive customer care
- Hidden charges (read terms carefully!)
Only borrow in emergencies, and ensure you can repay on time to avoid debt traps.
Customer Care: Hit or Miss?
While RING offers multiple support channels, users complain about slow responses. Here’s how to reach them:
- Email: care@pay-with-ring.com
- Phone: 022-41434302 / 022-68135496
- Address: Office Unit 2-4, 10th Floor, Equinox Park, Kurla West, Mumbai
Tip: Document all communication for dispute resolution.