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Personal Loan from The Ratnakar Bank Ltd.

The Ratnakar Bank Ltd. Personal Loan

RBL Bank (previously Ratnakar Bank Limited) offers Personal Loans under a single category to salaried resident individuals at attractive interest rates. RBL Bank Personal Loans are extended to customers with low interest rates in quick time along with easy documentation process. The Bank provides Personal Loans for a variety of reasons including marriage, travel, medical needs, home renovation etc..

The main features of an RBL bank Personal Loan through LoanMoney are:

  • Loans amounting upto 20 lakhs
  • Loan Tenure of between 12 to 48 months
  • Rate of Interest charges from 15% to 18%
  • Less Processing Fees

You can consult with us on the advantages of opting for a RBL bank Personal Loan by calling us on the number at +8130-222-111. Our Loan representative will get back to you after submission of an application form.

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  Salaried Self Employed Professional
Age 25 - 58 Yrs
Loan Amount Upto 20 Lacs
Tenure  12 to 48 Months
Rate of Interest / APR [Annual Percentage Rate] 15% to 18%
Processing Fees 2%
Special Quick Funding
Documentation Salary Slips, Address Proof, Identity Proof
Processing Fees 2%
Special Quick Funding
Documentation Salary Slips, Address Proof, Identity Proof
  • Net Salary 60% can be taken as Loan EMI
  • Repayment of Total amount [Illustrative] on Rs. 1 Lac loan on @14% with processing Fees for 60 Months comes to Rs. Rs. 1.41 Lacs

  • Minimum net monthly income of Rs. 25,000 per month
  • Minimum age at loan sanction – 25 years. Maximum age at loan maturity - lower of 60 years or retirement age.
  • Work Experience of minimum 1 year at current employment and 3 years of total employment experience.

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How much loan amount can I borrow in a Personal Loan?

You can borrow loan amount from Rs. 1 Lakh to Rs.20 Lakhs depending on your eligibility basis the financial documents

submitted, repayment capacity and loan amount limit in your respective location.

For how many months can I borrow a Personal Loan?

We offer convenient repayment options from 12 to 60 months. Tenor offered will be at the sole discretion of RBL Bank.

How will I repay my Personal Loan?

We offer Personal Loan as a term loan which can be repaid in easy EMIs (Equated Monthly Installments). EMI can be paid

through ECS facility, Standing Instruction to debit your RBL Bank account or though Post Dated Cheques with your EMI

amount. EMI amount can be calculated using ‘EMI Calculator’.

Can I club my income with others to avail a higher Personal Loan?

Clubbing of income is allowed with salaried spouse. Income of your spouse needs to be regular in nature and should be

documented. Spouse income will be considered for clubbing of income as per Policy.

How long will it take for my Personal loan to be approved?

The Bank would update you about the loan decision in approximately 10 working days from the date of receipt of the

completed application form with all the required documents.

Is there any security that I need to provide to get a Personal Loan?

RBL Bank offers Personal loan as an unsecured loan and hence you do not need to provide for any Security or Collateral

for availing a Personal Loan.

Do I have to pay any Processing Fees or Charges to avail a Personal Loan?

A processing fee of upto 2.5% of the loan amount (plus Service Tax at the prevailing rate) is required to be paid. This fee

will be deducted from the Loan amount at the time of the disbursal of your loan.

Is there an option to prepay my Personal Loan earlier? Are there any charges?

No foreclosure is allowed before the loan has completed 6 months. However, you can prepay the Personal Loan after

having paid 6 EMIs with applicable foreclosure charges. Foreclosure charges of 5% of the principal outstanding will be

charged, if you foreclose the loan before 12 months. Foreclosure charges of 3% of the principal outstanding will be

charged post completion of 12 months of the loan however Nil foreclosure charges are applicable if 12 EMIs paid without

any bounce and foreclosure is done using Own funds. Loan can be foreclosed by paying the foreclosure amount through

a Demand Draft / Cheque at any of the RBL Bank branch. Please refer to the schedule of charges for more details.

Are there any benefits of having a Current/Saving Account with RBL Bank for my Personal loan?

You get the benefit of easier documentation if you have a Current / Savings Account with RBL Bank. You can avail paying

your EMI through Standing Instructions to debit your RBL Bank Account for the loan. This will be taken into consideration

at the time of disbursal of the loan.

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  • PAN Card – For Individual
  • Identity Proof – Any one (e.g. Voter ID / Driving License / Passport)
  • Address Proof – Any one (e.g. Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement)
  • Relationship Proof (if required)
  • Passport Size Photographs
  • Any other valid Photo ID card issued by central or state government
  • Latest 6 months Salary credit Bank Statements
  • Latest 2 months pay slips and Form 16 issued by the employer.

  • Income documents of salaried spouse (in case of clubbing of income)

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  • Minimum 15%
  • Maximim 18%

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About The Ratnakar Babk Ltd. Personal Loan

RBL Bank Limited (formerly known as The Ratnakar Bank limited) is a scheduled commercial bank headquartered in the Kolhapur region of Maharashtra. Founded in August 1943, RBL is one of the oldest private sector banks in India. The Bank currently services approximately 19,00,000 customers and has a total business size of over Rs. 45,000 Crores.

It offers a range of banking products and services categorized largely in 5 verticals - Corporate & Institutional Banking, Commercial Banking, Retail Banking, Agri & Development Banking and Financial Markets.

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Features of The Ratnakar Bank Ltd. Personal Loan
  • Loan amount from Rs.1 Lakh up to Rs.20 Lakhs.
  • Convenient loan repayment option of 12 to 60 months.
  • No security or collateral required to avail this loan.
  • Simplified and quick documentation
  • Attractive interest rates
  • Hassle-free loan sanction and disbursal procedure

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Special Features & Benefits of The Ratnakar Bank Ltd.
Apply The Ratnakar Bank Ltd. Personal Loan
Personal Loan Interest Rate
It is a type of unsecured loan and helps to meet your current financial needs. You don't need any security/collateral while availing it. Personal Loan is your solution for instant cash and can be used for travelling, wedding, medical emergency, home renovation, or anything else.
Home Loan Interest Rate
Home Loan is a Secured loan offered against the security of a house/property which is funded by the banks and NBFCs the property could be a personal property or a commercial one. Home loans consist of an adjustable or fixed interest rate and payment terms.
Loan Against Property Interest Rate
Loan Against Property belongs to the secured loan category where the borrower gives a guarantee by using his property as security. Banks and financial institutions offer this LAP, which can either be a residential/commercial building or a piece of land.
Business Loan Interest Rate
A Business Loan is a loan specifically intended for business purposes. As with all loans, it involves the creation of a debt, which will be repaid with added interest. Banks and other financial institutions are there to provide you with suitable lending assistance.
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