Apply Now

RBL BANK PERSONAL LOAN

RBL Banks provides personal loans of up to Rs. 20 Lakhs to meet the requirement of Salaried Individuals. RBL Personal Loan is ideal for purposes like Weddings, Medical Expenses, Vacation, Further Education, and many more. 

RBL Personal Loan is offered at 14% to 23% per annum interest rates with a repayment tenure ranging from 1 Year to 5 Years, and a processing fee of up to 4% on the loan amount is charged by the bank.

RBL Bank Personal Loan Highlights

Particulars Details
Interest Rate 14% - 23% per annum
Loan Amount Up to Rs. 20 Lakhs
Loan Tenure Up To 60 Months
Processing Fee Up to 4% of Loan Amount
Overdue EMI Interest 2% per month of the overdue amount

RBL Bank Personal Loan Features & Benefits

  • Flexible Tenure : The repayment tenure of RBL Bank Personal Loan is flexible ranging from 1 Year to 5 Years.
  • Less Documentation : RBL Bank Personal Loan requires very little documentation, thus making the application process easy and a quick one.
  • Loan Amount : RBL Bank provides personal loans starting from Rs. 1 Lakh up to Rs. 20 Lakhs.
  • No requirement of collateral or guarantor : RBL Bank Personal Loan is an unsecured loan so you do not need to submit any collateral. or guarantor.

RBL Personal Loan Fees and Charges

The following are the key fees and charges other than interest charges applicable to a personal loan from RBL Bank:

TYPE  CHARGES
Processing Fees Up to 4% of the total loan amount
Cheque bounce charges Rs. 250 per instance
Foreclosure charges

 

  • Not allowed before 12 EMI payments have been completed.
  • 5% of principal outstanding for foreclosure between 13-18 months
  • 3% of principal outstanding for foreclosure beyond 18 months
Convenience charges Rs. 999

RBL Bank Personal Loan Eligibility Criteria

In order to avail of RBL Bank Personal loan, an individual has to meet certain eligibility criteria put up by the bank. 

CRITERIA DETAILS
Minimum Age 25 Years 
Maximum Age 60 Years 
Minimum Income Rs. 25,000 per month
Nationality Indian
Employment type Salaried Individuals

Documents Required for RBL Bank Personal Loan

In order to avail of RBL Personal loan, an individual has to provide certain documents required by the bank.

ID Proof
  • Aadhar Card
  • PAN Card
  • Driving License
  • Voter’s ID Card
  • Employment ID
Address Proof
  • Aadhar Card
  • PAN Card
  • Driving License
  • Voter’s ID Card
  • Employment ID
  • Rental Agreement
Income Proof For Salaried
  • 3 months salary slips
  • Last 3 months salary credit bank statements

COMPARE OTHER BANK PERSONAL LOAN INTEREST RATE:

BANKS INTEREST RATES
AXIS Bank Personal Loan 12% to 24%
SBI Personal Loan 11.30% to 16.40%
HDFC Bank Personal loan 10.75% to 21.50%
Kotak Mahindra Bank Personal Loan 10.50% to 16.99%
Yes Bank Personal Loan 20.00% to 22.00%
Citi Bank Personal Loan 10.50% to 17.99%
ICICI Bank Personal Loan 10.99% to 16.25%
Standard Chartered Bank Personal Loan 11.00% to 19.20%
IDBI Bank Personal Loan 12.00% to 14.00%
RBL Bank Personal Loan 14.00% to 23.00%
HSBC Bank Personal Loan 10.75% to 17.84%
IndusInd Bank Personal Loan 11.00% to 16.75%
Bank of Baroda Personal Loan 7.65% to 12.65%
Bank of India Personal Loan 12.15% to 14.15%
Canara Bank Personal Loan 12.05% onwards

RBL Bank Personal Loan EMI Calculator

A Personal loan EMI calculator helps you to know the amount of EMIs that you need to pay towards your Personal Loan. 

As a Personal loan can go from 20 - 30 years, so you have to be aware of your monthly installments in advance. For that, you can use the EMI Calculator provided by BankSathi to calculate your monthly EMIs on your Personal Loan.
The formula for the same is:
 
[P x R x (1+R)^N]/[(1+R)^N-1], where

  • P stands for the ‘Principal Amount’.
  • R stands for the rate of interest set by the bank.
  • N is the number of years for which the loan has been taken. 

How to apply for RBL Bank Personal Loan?

  • Visit the official website of RBL Bank
  • Now, fill personal, professional and financial details required by the bank and submit the form.
  • Once you have submitted the application form, RBL Bank will check your eligibility and provide you the eligible amount you can avail.
  • If you agree to process the application, then you would be required to submit the essential documents.
  • Finally, your documents will be processed by RBL Bank, and on successful approval of the loan, the funds will be disbursed to your RBL Bank account immediately.

RBL Bank Personal Loan Customer Care

Contact Number - +91 22 6115 6300

Email Address - customercare@rblbank.com

FAQs On RBL Bank Personal Loan

Q.1 What are the minimum and maximum personal loan amounts offered by RBL Bank?

The minimum and maximum personal loan amounts of RBL Bank Personal Loan are Rs. 1 Lakh and Rs. 20 lakhs respectively.

Q. 2 What is the tenure of RBL Bank’s personal loan?

The maximum tenure approved for repayment by RBL Bank for a personal loan is up to 5 Years.

Q. 3 What were the processing fees charged by RBL Bank’s personal loan?

RBL Bank personal loan charges processing fees are up to 4%  of the loan amount.

Q.4 What was the age required for RBL Bank’s personal loan?

The age required for salaried employees is 25 years to 60 years.

Last Updated on : 30/Mar/2021

Know More About

Rbl Bank Personal Loan

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

Updated on 25 Nov 2017

Rbl Bank Personal Loan Details
Interest Rate (Monthly reducing balance) 14% - 23%
Processing Fees Upto 4 %
Loan Tenure 1 year to 5 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Personal 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