RBL Bank, formerly known as Ratnakar bank, is an Indian private sector bank. It is headquartered in Mumbai and founded in 1943. It also offers a huge range of banking products and services to all customers.The IFSC Code of RBL Bank is RATN0000213.
While searching for an education loan, you can come across RBL Bank that offers you the loan at an attractive interest rate. It also offers a very basic scheme for education loans for courses in both India and Abroad. It provides an easy loan disbursal and fast processing facilities which make it one of the most sought banks for education loan. Every individual dreaming of higher studies can make it true with RBL Bank Education Loan. The interest rate charged by RBL Bank is from 14.15% to 16.15% p.a.
1. It offers an attractive rate of interest
2. It provides no collateral for loan amounts up to Rs 4 lakh.
3. It required hassle free and simplified documentation for the processing of education loans.
4. It provides loan amounts upto 10 lakh for education in India and 20 lakh for education in Abroad.
5. It also offers the longest repayment tenure from 1 to 7 years.
6. Minimal foreclosure charges
1. Applicant and co-applicant should br Indian Resident.
2. Co-applicant can be salaried and self employed individual
3. Minimum net income required Rs1.5 lakh per annum.
4. Co-applicant can be anyone = Father, Mother Brother, Sister, Spouse
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TYPE |
DOCUMENTS |
|
KYC Proof |
Address proof, ID Proof, 10+2 mark sheets or certificate, degree or diploma (if applying for post graduation), 2 passport size photographs, relationship proof with the co-applicant. |
|
Income Proof |
Last 3 month pay slip, salary certificate, last 3 month bank statement, ITR, repayment track record in credit report, documents for collateral, stability of income proof |
|
Overseas education proof |
Passport copy of students pursuing educational courses abroad, For US institutes I-20 Form needs to be submitted, Also scholarship certificates are required for special cases, English proficiency certificate and other qualifying exams like GRE, GMAT, SAT, TOEFL, etc |
Expenses covered under RBL Bank Education Loan :
1. Tuition fees
2. Cost of books, uniforms and stationeries
3. Cost of laptop or computer ( If required)
4. Examination Form
5. Library/ Laboratory fees
6. Hostel fee
7. Travel expenses ( for Abroad)
8. Miscellaneous Expenses
|
BANKS |
INTEREST RATE |
|
13.70% to 15.20% |
|
|
9.55% to 13.50% |
|
|
9% to 14% |
|
|
11.5% to 24% |
|
|
8.30% to 10.41% |
|
|
Starts from 8.50% |
|
|
14.15% to 16.15% |
|
|
7.50% to 9.75% |
|
|
7.25% to 9.75% |
|
|
11.35% |
|
|
10.99% |
|
|
9.30% |
|
|
8.80% |
|
|
8.30% to 9.95% |
|
|
9.30% |
|
|
9.30% |
1. Offline Method : By visiting the nearest bank branch.
2. Online Method :
Visit the official website of loan.
Click on apply now
Fill out the form with essential details.
Upload the mandatory documents required
Submit the form and take out a print out of the applications
Visit the bank branch for further formalities.
How to contact with RBL Bank :
1. By customer care contact number : 1800120616161
2. By customer care email id : [email protected]
Financials products offered by Bank :
The maximum loan amount should be charged by RBL Bank education loan is up to Rs.10 Lakh for education in India and 20 lakh for education in Abroad.
No, there are no processing fees charged by RBL Bank Education Loan.
The maximum tenure of education loan in RBL Bank is 1 year to 7 years.
The minimum income required to get an education loan from RBL Bank is 1.5 lakh per annum.
The interest rate charged by RBL Bank education loan is 14.15% to 16.15%.
Last Updated on : 10/Aug/2020Know More About
You're eligible for a Rbl Bank Education 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 Education 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
Updated on 25 Nov 2017
| Rbl Bank Education Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 14.15% - 16.15% |
| Processing Fees | NIL |
| Loan Tenure | 1 year to 7 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
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