RBL Bank was established in 1943 at Mumbai. This bank is one of the oldest Indian private sector banks. It also offers a huge range of banking products and services to all customers. For any immediate financial requirement like wedding expenses, medical treatments, house renovation , vacations etc. can be fulfilled using the personal loans offered by RBL Bank.
1. Instant approval :
RBL Bank provides personal loan approval in a very speedy way for the customers so they don't have to waste their precious time for loan approval. They can easily get approval for the personal loan either online or offline.
2. Easy repayment tenure :
RBL Bank personal loan offers the best and flexible loan tenure of 1 years to 5 years. The Indian Bank personal loans are taken to meet their sudden needs of the customers.
3. Simple and less documentation :
RBL Bank required less documentation for the processing of personal loans.The documents submitted by the customers are KYC, address proof and income proof with the loan application form. It is not required to submit so many documents for a personal loan. The process of documentation is very simple and fast
4. Low interest rate :
The minimum interest rate of RBL Bank personal loans is 14% and the maximum interest rate is 23%. Basically the rate of interest will be decided by the bank according to the customer age, employment type, overall profile and the most probably Cibil score.
5. No requirement of collateral or guarantor :
RBL Bank is an unsecured loan so you does not need to submit any collateral and guarantor for personal loan
|
TYPE |
CHARGES |
|
Processing Fees |
Up to 4% of 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 |
|
TYPE |
DOCUMENTS |
|
ID proof |
Aadhar card, pan card, driving license, passport, etc. |
|
Address proof |
Aadhar card, voter id, rental agreement, registry, and utility bills |
|
Income proof |
Last 3-month salary slip, last 3 months salary credited bank statement |
|
ELIGIBLE |
Salaried |
||
|
AGE |
|
||
|
INCOME |
Minimum of 1 year of experience with the current employer Minimum income Rs 25000 |
|
BANKS |
INTEREST RATES |
|
12% to 24% |
|
|
11.30% to 16.40% |
|
|
12.15% to 15.15% |
|
|
11.50% to 12% |
|
|
10.75% to 21.50% |
|
|
10.50% to 16.99% |
|
|
20.00% to 22.00% |
|
|
10.50% to 17.99% |
|
|
10.99% to 16.25% |
|
|
11.00% to 19.20% |
|
|
12.00% to 14.00% |
|
|
14.00% to 23.00% |
|
|
10.75% to 17.84% |
|
|
11.00% to 16.75% |
|
|
7.65% to 12.65% |
|
|
12.15% to 14.15% |
|
|
12.05% onwards |
Browse to RBL bank official portal
In “Personal”
In loan section click on “ personal Loan”
Fill the application form
Attached all required documents with application form
After submitting your application form you will get notification through bank about loan status
To calculate EMI of RBL Bank personal loan by this formula :
E = P . R . (1+R)^N/((1+R)^N – 1)
Where;
E = EMI
P = Principal Loan Amount
R = Rate of Interest
N = Monthly Loan Tenure
The maximum loan amount should be charged by RBL Bank personal loan is up to Rs. 20 Lakh.
The minimum age of the applicant required to get a personal loan from RBL Bank is 25 years; the maximum age is up to 60 years.
The maximum tenure of personal loan in RBL Bank is 5 years.
The minimum income for a salaried employee should be at least ? 25,000 per month to secure a personal loan from RBL Bank.
The interest rate should be charged by RBL Bank personal loan is 14% to 23%
Last Updated on : 16/Jul/2020Know More About
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
Updated on 25 Nov 2017
| Rbl Bank Personal Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 14% - 23% |
| Processing Fees | Upto 4 % of loan amount |
| Loan Tenure | 1 year to 5 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Personal Loans EMI Calculator