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RBL BANK HOME LOAN 

About RBL Bank Home Loan :

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. 

While searching for a home 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 home loans. It provides an easy loan disbursal and fast processing facilities which make it one of the most sought banks for home loan. Every individual dreams of his own home that can make it true with RBL Bank Home Loan. With minimal documentation and secure storage, the RBL Bank Home Loan is a simple funding option to meet your financial requirements. RBL Bank provides home loan for a minimum amount of Rs 1 lakh with tenure starting from 1 year upto 25 years.

Benefit of RBL Bank Home Loan :

1. Flexibility of tenure upto 25 years 

2. Attractive rate of interest starts from 9.95% to 10.5% per annum

3. Get home loan upto Rs.10 lakh

4. Availed for salaried individual, self employed individuals, self employed professionals

5. Faster approval of the loan 

6. It is offered to Indian residents only

7. Minimal and easy documentation

Fees and charges of RBL Bank Home Loan :

TYPE 

CHARGES

Processing fee

1.5% of the loan amount 

Prepayment charges 

For floating rate home loan = NIL

For fixed rate home loan = upto 15% of the outstanding balance

Foreclosure charges 

For floating rate home loan = NIL

For fixed rate home loan = 3% of the outstanding principal amount

Charges for late payment of EMIs

2% additional interest per month on the overdue amount 

Issue of duplicate interest

Rs.250 per instance 

Duplicate of NOC

Rs.250 per instance 

Cheque Swapping charges 

Rs.250 per instance 

Cheque bounce charges 

Rs.200 per instance 

CIBIL Report charges 

Rs.50 per instance 

Charges for changing fixed to floating and floating to fixed

0.5% on principal outstanding

Application fees

Rs.6500 for Mumbai applicants

Rs.5000 for other locations

Eligibility Criteria for RBL Bank Home Loan :

ELIGIBLE 

Salaried individuals, self employed individuals and self employed professionals 

AGE 

For salaried individuals = 24 years to 60 years 

For self employed individuals and professionals = 24 years to 65 years 

INCOME 

For salaried individuals = Minimum net income is Rs.120000 p.a.

For self employed individuals and professionals = Minimum net income is Rs.150000 p.a.

WORK EXPERIENCE

For salaried individuals :

Minimum 1 year at current job and 2 years of total experience required

If current job is less than 1 year then 3 years of total experience is required

For self employed individuals and professionals :

Business stability of last 3 years in the same field 

Documents Required for RBL Bank Home Loan :

1. Fully filled signed application form 

2. Passport size photograph

3. ID Proof : Aadhaar Card, PAN Card, Driving License, Passport, Voter identification, Employment id

4. Address Proof : Aadhar Card, Rental agreement, Voter id, Driving license, Passport, Employment id 

5. Income Proof : For salaried employees = 3 months salary slip, last 2 years ITR Return or form 16, Bank statement for last 2 months showing that the salary has been credited

6. For Self employed individuals / professionals = 2  years ITR return, Profit & loss account and Balance sheet computation with CA seal and sign, Bank statement for the last 6 months.

RBL Bank Home Loan Offers :

RBL Floating and Easy Home Loan

  • Maximum loan amount is Rs.10 crore

  • Tenure upto 25 years

  • Interest rate starts at 10.25% to 12.10% per annum

  • Processing fee is 1.5% of the loan amount (Minimum Rs.7500)

  • Application fee : Rs.6500 for Mumbai applicants and Rs.5000 for other locations 

RBL LoanAgainst Property

  • Maximum loan amount is Rs.10 crore (upto 80% property value)

  • Tenure is up to 180 months

  • Interest rate starts at 15.95% to 17.95% per annum

  • Processing fee is 1.5% of the loan amount

  • Application fee : Rs.6500 for Mumbai applicants and Rs.5000 for other locations 

  • Residential and commercial properties are accepted as collateral

RBL Overdraft Against Property

  • Available for self employed individuals

  • Maximum loan amount upto Rs.5 crore

  • Tenure upto 10 years 

  • Interest rate charged only on utilised amount

  • Processing fee is 1.5% of the loan amount

  • Application fee : Rs.6500 for Mumbai applicants and Rs.5000 for other locations

Compare other bank home loan interest rates :

BANKS 

INTEREST RATE

AXIS Bank Asha Home Loan

Starts at 10.05% onwards 

AXIS Bank Shubh Aarambh Home Loans

Starts at 7.75% onwards

AXIS Bank Fast Forward Home Loans

Starts at 7.75% onwards

AXIS Bank Home Loan

7.75% to 9.40%

AXIS Bank Empower Home Loan

Start at 9.55% onwards 

AXIS Bank Super Saver Home Loan

8.15% to 8.30%

AXIS Bank TopUp Loan

8.90% to 9.15%

SBI NRI Home Loan

6.95% onwards

SBI Flexipay Home Loan

7.40% onwards 

SBI Privilege Home Loan

6.95% onwards 

SBI Regular Home Loan

6.95% onwards 

SBI Shaurya Home Loan

6.95% onwards 

SBI Pre-approved loan

6.95% onwards 

SBI Realty Home Loan

7.65% onwards

SBI Home Top Up Loan

7.90% onwards

SBI Bridge Home Loan

9.50% to 10.50%

SBI Tribal plus Home Loan

6.75% onwards

SBI Earnest Money Deposit

10.45% onwards

SBI Reverse Mortgage Loan

8.05% onwards

SBI CRE Home Loans

7.45% onwards 

HDFC Bank Home Loan

6.95% to 7.50%

Kotak Mahindra Bank Home Loan

7.40% to 9.70%

Yes Bank Home Loan

9.60% to 10.55%

Citi Bank Home Loan

7.34% to 8.29%

ICICI Bank Home Loan

6.95% to 8.05%

Standard Chartered Bank Home Loan

Starting at 8.71%

IDBI Bank Home Loan

7.80% to 8.80%

RBL Bank Home Loan

9.75% to 10.05%

HSBC Bank Home Loan

8.55% to 8.655

HSBC Bank Smart Home Loan

11.005 to 11.505

IndusInd Bank Home Loan

8.00% to 15.00%

Bank of Baroda Home Loan

6.85% to 7.75%

Bank of India Home Loan

6.85% to 7.755

Canara Bank Home Loan

6.90% to 8.90%

Indian Bank Home Loan

7.55% to 8.40%

Punjab National Bank Home Loan

Starting at 7.00%

Other products of RBL Bank :

1. RBL Bank Car Loan 

2. RBL Bank Business Loan 

3. RBL Bank Education Loan

4. RBL Bank Gold Loan

5. RBL Bank Loan Against Property

How to apply for RBL Bank Home Loans :

There are two ways to apply for home loans from RBL Bank :

1. Offline method : By visiting nearest bank branch

2. Online Method :

  • First of all first visit to official website of RBL Bank

  • In retail section go to the “loans”

  • Now click in home loan

  • After that go to “Home loan”

  • Now click on apply now and fill application form 

How to calculator EMI of RBL Bank Home Loan :

The following formula is used to calculate EMI of RBL Bank Home Loan :

EMI = [PXRX(1+R)^N] / [(1+R)^N-1]

Where,

P stands for Loan Amount

R stands for Interest Rate

N stands for tenure in number of months 

How to contact with RBL Bank :

1. By customer care contact number : 1800120616161

2. By customer care email id : customercare@rblbank.com

Financials products offered by Bank :

BUSINESS LOAN

CAR LOAN

COMMERCIAL LOAN 

EDUCATION LOAN

GOLD LOAN

HOLIDAY LOAN 

HOME LOAN 

LOAN AGAINST PROPERTIES 

LOAN AGAINST SECURITIES

PERSONAL LOAN

PROFESSIONAL LOAN

TWO WHEELER LOAN

RBL Bank Home Loan Frequently Asked Questions :

1. What is RBL Bank Home Loan?

RBL Bank provides for a minimum loan amount of Rs.1 lakh at an attractive rate of interest with tenure of upto 25 years The bank gives quick approval and disbursal of the loan amount with secure repayment options.

2. What is the home Loan minimum and maximum interest rate in RBL Bank?

RBL Bank’s Home Loan minimum interest rate is starts at 9.75% per annum and the maximum interest rate is 10.5% per annum 

3. How to apply for a home loan from RBL Bank?

You can apply offline by visiting the nearest bank branch or through online .

4. What is the minimum and maximum loan amount of RBL Bank for home loan?

The minimum loan amount is Rs.1 lakh and maximum loan amount is Rs.10 crore of RBL Bank for home loan.

5. How much age of the customer should be required to get a home loan from RBL Bank?

The age of the customer should be 24 years to 60 years for the salaried individuals and the age of the customer should be 24 years to 65 years for self employed individuals and professionals  to get a home loan from RBL Bank.

6. How much application fee is provided by RBL Bank for home loan?

The application fee provided by RBL Bank for home loan is Rs.6500 for Mumbai applicants and Rs.5000 for other locations.

7. Who is eligible to take a home loan from RBL Bank?

The salaried individuals, self employed individuals and self employed professionals are eligible to take a home loan from RBL Bank.

8. What are the prepayment charges and foreclosure charges for fixed rate home loans provided by RBL Bank?

The prepayment charges for fixed rate home loan is upto 15% of the outstanding balance and the foreclosure charges for fixed rate home loan is 3% of the outstanding principal amount provided by RBL Bank.

Last Updated on : 19/Aug/2020

Know More About

Rbl Bank Home Loan

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

Updated on 25 Nov 2017

Rbl Bank Home Loan Details
Interest Rate (Monthly reducing balance) 9.95% - 10.5%
Processing Fees 1.5% of the loan amount
Loan Tenure 1 year to 25 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Home 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