RBL Bank Business Loan: Interest Rate, Eligibility, Processing Fee & Customer Care

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RBL Bank Business Loan

Many people will have the vision of starting their own business or if one already has a business to expand it and build it into something better. Any person wanting to start a business or any individual wanting to expand their business needs funds to do so. This is where entrepreneurs and individuals take loans at a previously agreed rate of interest and time. Be it MNCs everyone will have need of funds at one point of time or another. Lenders like RBL Bank provide Business loans just for that purpose.

RBL Business Loan Key Features

  • The business loan interest rate offered by RBL bank is 17% onwards

  • The loan amount ranges from Rs.10 lakh to Rs.35 lakh

  • Loan tenure of RBL Bank business loan varies from 12 to 36 months

  • No collateral or security is required for this loan scheme

  • Interest rate starts from 16% onwards. The rate of interest can vary depending on loan amount, applicant’s relation with bank and past track records

  • Loan sum is to be repaid in the form of EMI, which is calculated based on loan amount, loan tenure and rate of interest charged

Business loan related other banks product

Banks interest Rate
HDFC Bank Business Loan                                     15.65%                       
Yes Bank Business Loan 16.25%
RBL Bank Business Loan 16.25%
CITI Bank Business Loan 12% to 18% 
India Bank Business Loan 8.30%

Following people eligible for RBL Bank Business loanWho can avail for RBL Bank Business Loan?

    • Self-employed individuals

    • Proprietors

    • Private Ltd. Co.

    • Partnership Firms

  • The business should have minimum turnover of Rs. 1 crore and for Service Sector/ Professional , applicant’s gross receipts should be at least  60 Lakhs

  • With 5 years total business experience an Individuals who have been in the current business for a minimum of 3 years.

  • Those whose business has been good track record for the previous 2 years

  • The business should have a ITR of Rs. 1.5 lakhs per annum

  • At the time of applying for the loan the borrower should be at least 21 years, and should be no older than 65 years at the time of loan maturity

Documents required for RBL Bank Business loan

TYPE

Id Proof

Address proof

Income proof

Salaried

Aadhar card, pan card, passport, voter id

Electricity bill, registry, rental agreement, voter id, Aadhar card

Last 6 month bank statement, salary slip last 3 month

Self-employed

Aadhar card, pan card, passport, voter id

Electricity bill, registry, rental agreement, voter id, Aadhar card

Last 6 month bank statement, Form 16, Latest ITR along with Balance Sheet

Partnership Firms/private limited companies

Aadhar card, pan card, passport, voter id

Electricity bill, registry, rental agreement, voter id, Aadhar card telephone bill

Last 3 month bank statement, latest ITR, Registered Lease Document with other utility bills,

Sales Tax or VAT Certificate,

Shop & Establishment Act Certificate

RBL Bank Business loan interest rate, Fee & Charges

Interest rate

16.25%

Processing fee

1.80% to 2.20% of loan amount

Tenure

12-36 months

Lowest EMI /lakh

Rs. 3,528

Loan amount

1 lakh to Rs 10 lakh

Part payment charges

Nil

Cheque bounce charge

Rs. 250/ instance

Documents fee

Rs. 7000

Foreclosure fee

Allowed after 12 EMIs

 

How to apply for RBL Bank Business Loans

There are 2 processes by which one can apply for a business loan.

  • Visit to Branch

  • Online

    • In online method go to RBL Bank website

    • Now click on “personal” section

    • In Personal menu go to “Loans”

    • In loans section click on “Business loan”

  • Fill the application form and submit it with attaching all mandatory documents

  • Bank associate will let you know in few minutes that you are eligible or not for the loan

  • After getting approval visit to RBL bank branch for further proceedings

Last Updated on : 18/Jun/2020

Know More How To Apply ??

Know More About

Rbl Bank Business Loan

You're eligible for a Rbl Bank Business Loan if you:


Are legally adult enough to handle it


Have still got it


Get a regular pay check


Make more than a basic buck

Your eligibility depends on:


Earn more than minimum income required


Maximum allowed Business Loans is Rs. 10K to Rs. 45 lakhs


EMIs of other loans loweryour eligibility

Boost your eligibility by:


Pay off your credit card bills


Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Rbl Bank Business Loan Interest Rates

Updated on 25 Nov 2017

Rbl Bank Business Loan Details
Interest Rate (Monthly reducing balance) 10.65% - 16.25%
Processing Fees 3% of loan amount
Loan Tenure 1 year to 3 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Business Loans EMI Calculator

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

|
1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959