Convenient location for keeping rings? (6)

I believe the answer is:

onhand

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'convenient' is the definition.
I don't know anything about this answer so I can't tell whether it can be defined by this definition.

'location for keeping rings?' is the wordplay.
'location' becomes 'hand' (hand is a kind of location).
'for' says to put letters next to each other (I've seen this in other clues).
'keeping rings?' becomes 'on' (I can't justify this - if you can you should believe this answer much more).
'hand' put after 'on' is 'ONHAND'.

Can you help me to learn more?

I've seen this clue in The Irish Times.

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