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

Apply Now

RBL Bank Car Loan 

Having a car is not a big deal nowadays; the real deal is that you get what you want. Most of the people have car in their mind which they want to buy for their needs. Some of them can buy it and other cant, some of them go for low price and average looking cars and some want to buy expensive and beautiful car. Most people love to buy or we can say have a dream to buy a certain expensive car but they can’t, the only reason is budget.  People get upset and lose hope for that car and compromise with the choice then they purchase a low budget car. 

Here, we talk about all things above that are quite normal but there is change in it, now everyone can buy their dream car with ease. You all think that “how it is possible? 

To overcome with this issue RBL bank came with an exciting opportunity i.e. RBL Bank car loan.


RBL bank car loans come with most suitable features and benefits. And all the schemes of the bank are customer friendly and easy to understand.

  • Car loans are provided for MUVs, SUVs, small cars, compact cars, premium cars, and super-premium cars.

  • Repayment time is between 12 months and 60 months.

  • Attractive rate of interest.

  • Up to 94% of the value of the car may be given as a loan. The value of the car includes the ex-showroom price, insurance, and applicable taxes,.

  • Salaried employees can avail loans amount from Rs.50, 000 to Rs.30 lakh.

  • Self-employed individuals and professionals can get loans of up to Rs.1 crore.

RBL Bank Car Loan Eligibility Criteria

If you are going for the car loan from RBL bank must check that you come under eligibility criteria. Here below we explain in detail eligibility criteria for Salaried, self-employed, and partnership firs/sole proprietorship/private limited companies


  • Salaried Individuals

    • Aged between 21 years and 60 years

    • Employed for a minimum of 2 years with at least 1 year with the current employer

    • Earn at least Rs.3 lakh p.a.

    • Have a telephone/post-paid mobile

  • Self-Employed Individuals (Sole Proprietorship)

    • Should be in the business of trading, manufacturing, or services

    • Aged between 21 years and 65 years

    • Should have been in business for at least 2 years.

    • Have an annual income of at least Rs.3 lakh

  • Self-Employed Individuals (Partnership Firms)

    • Self-employed partners in the manufacturing, trading or services business

    • Should have a turnover of at least Rs.3 lakh p.a.

  • Self-Employed Individuals (Private Limited Companies)

    • Owners of private companies in the manufacturing, trading or services business

    • Should have a minimum annual income of Rs.3 lakh

  • Self-Employed Individuals (Public Limited Companies)

    • Directors in public limited firms in the manufacturing, trading or services business

    • Have earnings of at least Rs.3 lakh p.a. 

Compare other bank car loan interest rate 


Interest rate

AXIS Bank New Car Loan


AXIS Bank Pre-Owned Car Loan

15% p.a.

AXIS Bank Loan Against Car


AXIS Bank Balance Transfer and Topup Car loan


SBI New Car Loan Scheme

9.15% to 12.40%

SBI Combo Loan Scheme

9.15% to 12.40%

SBI Pre-Owned Car Loan

9.15% to 12.40%

SBI Loyalty Car Loan Scheme

9.15% to 12.40%

HDFC Bank New Car Loan

10.35% to 11.10%

HDFC Bank Used car loan

10.35% to 11.10%

HDFC Bank Loan Against Car

10.35% to 11.10%

Kotak Mahindra Bank Car Loan


Yes Bank Car Loan


Citi Bank Car Loan


ICICI Bank Car Loan


IDBI Bank Car Loan


RBL Bank Car Loan

12% to 14%

IndusInd Bank Car Loan


Bank of Baroda Car Loan


Bank of India Car Loan


Canara Bank Car Loan

8.5% to 8.65%

Indian Bank Car Loan


Punjab National Bank Car Loan


RBL Bank Car Loan EMI calculator

  • Car loan at different loan amount @9.25% interest rate

Principle Amount

24 months

36 months


7 years

1 lakh

Rs. 4,580

Rs. 3,192

Rs. 2,088

Rs. 1,622

3 lakh

Rs. 13,740

Rs. 9,575

Rs. 6,264

Rs. 4,865

5 lakh

Rs. 22,900

Rs. 15,958

Rs. 10,440

Rs. 8,108

10 lakh

Rs. 45,800

Rs. 31,916

Rs. 20,880

Rs. 16,216


Use this formula to calculate your EMI

E = R x P x    (1+R)n

                    ((1+R)n -1)


  • P stands for principal amount that you want to apply for.

  • r represents the rate of interest per month 

  • n is the time period of loan in months

  • E represents EMI

Required Documents for RBL bank car loan

While applying for car loan properly check all the documents that are mention below. Without these document loan is not possible to get. 



Id Proof

Address proof

Income proof


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


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, 

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

Other loans and products from RBL Bank

RBL bank Business loan

RBL bank Car loan

RBL bank credit card

RBL bank EMI calculator

Process to apply for RBL Bank car loan

There are two ways to get a car loan with RBL BANK i.e. online application and in-branch application

Process to apply online

  • Initially visit RBL bank official website

  • At home page click on go to “Personal” section

  • Now go to “loans”

  • Select the “Car loan”

  • Click on apply now and complete the application form carefully

  • Attached all mandatory documents with the application form and submit it

  • Now wait for few minutes and you will notify soon whether you are eligible for loan or not

Last Updated on : 17/Jun/2020

Know More How To Apply ??

Know More About

Rbl Bank Car Loan

You're eligible for a Rbl Bank Car 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 Car 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 Car Loan Interest Rates

Updated on 25 Nov 2017

Rbl Bank Car Loan Details
Interest Rate (Monthly reducing balance) 10.35% - 10.85%
Processing Fees 1% of the loan amount
Loan Tenure 1 year to 5 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Car Loans EMI Calculator

Loan Amount


Interest Rate


Loan Tenure


Your Monthly Loan EMI