RBL Bank offers Personal Loans to Salaried in order to meet immediate cash requirements. Now, lead life the way you want with flexible and quick loan options. Loan process is very easy and the documentation is simpler, approvals are given fast. Monthly Instalment (EMI) is lower so that the customer can utilize the funds without worrying about affordability.
LoanMoney help you to embark on your dream at the right time with RBL Bank Personal Loan opportunities available! Follow a few simple steps to help LoanMoney team understand your requirements.
|Age||25 - 58 Yrs|
|Loan Amount||Upto 20 Lacs|
|Tenure||12 to 48 Months|
|Rate of Interest / APR [Annual Percentage Rate]||15% to 18%|
|Documentation||Salary Slips, Address Proof, Identity Proof|
|Eligibility||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
RBL Bank offers Personal Loans to Salaried resident individuals in order to meet immediate cash requirements. Now, lead life the way you want with flexible and quick loan options. read more...
Latest 2 months pay slips and Form 16 issued by the employer.
Income documents of salaried spouse (in case of clubbing of income) read more...
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. read more...
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.