RBL Bank Personal Loan | 2018 Interest Rates – (Updated) | Eligibility, Benefits

RBL Bank Personal Loan

RBL bank offers personal loan facility for the banking customers. You can apply for RBL Bank Personal Loan after well familiarized about the RBL bank eligibility details and benefits. It is basically a kind of unsecured loan which is issued by majority of banking organization and non-banking financial corporations.

It is a multipurpose loan which intends to fulfill multiple needs and requirements like personal expenses, travel expenses, medial and education expenses etc. Here, RBL bank updated interest rates 2018 are also listed down for more convenience of the banking customers.  However, rate of interest may remain same for all the salaried individuals who have been approved for the personal loan application.

Check Here – RBL Bank Customer Care

RBL Bank Personal Loan Details

RBL Bank Personal Loan Eligibility Criteria

The RBL bank has stated the specified eligibility details for the individuals which must be satisfied by the bank officials prior to the approved loan applications.

Age Minimum 21 years
Maximum 65 years
Nationality Indian
Employment Type Salaried or Self-employed
Employment status Employed/In-business for at least 2 yrs. and at least 1 yr. with current employer/business
Minimum Income Rs.4000 – Rs.20000 per month (Varies according to area, which is higher in cities)
Maximum Loan Amount Rs.70 lakhs (Based on your repayment capability)
Minimum – 6 months
Maximum – 60 months
Credit Score Preferred 750

 

Documents Required for RBL Bank Personal Loan

  • Properly filled loan application
  • Three passport size photos
  • Statement of Bank Account/ Pass Book for last six months
  • Residenceproof (photo copies of recent Telephone Bills/ Electricity Bill)
  • Identity proof (photo copies of Voters ID card/ Passport/ Driving license/ IT PAN card)
  • For self-employed professional, IT returns for the three years is required
  • Form 16/IT returns for the last two financial years for salaried employees

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RBL Bank Personal Loan Interest Rates 2018(Updated)

Particulars Salaried Self-Employed
Interest rate 14.5% p.a. to 23% p.a. 14.5% p.a. to 23% p.a.
Loan Amount
  • Minimum: Rs.1 lakh
  • Maximum: Rs.20 lakh
  • Maximum: Rs.10 lakh
  • Maximum: Rs.35 lakh
Loan Tenure
  • Minimum: 12 months
  • Maximum: 60 months
  • Minimum: 12 months
  • Maximum: 36 months
Lowest EMI Rs.2,353 per month (calculated for the lowest amount taken for the longest tenure on offer at the lowest rate of interest) Rs.34,421 per month (calculated for the lowest amount taken for the longest tenure on offer at the lowest rate of interest)
Processing Fee 1.5% of the loan amount subject to a minimum of Rs.7,500 (Non-refundable fee of Rs.5000 upfront. Rest at the time of disbursal) 1.5% of the loan amount subject to a minimum of Rs.7,500 (Non-refundable fee of Rs.5000 upfront. Rest at the time of disbursal)
Age Minimum age when loan is sanctioned: 25 years.
Maximum age at loan maturity: Less than 60 years or retirement age.
Minimum 27 years at the time of application.
Maximum 65 years at loan maturity.
Prepayment Charges No charge
  • Up to 15% of the outstanding principal amount within 12 months: No charge.
  • Above 15% of outstanding principal: 2% of amount paid + service tax and other applicable charges.
Foreclosure Charges No charge 3% on outstanding principal amount + service tax and other applicable charges

 

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So, you need to makes sure about some of the reliable factors that are responsible for loan application such as personal loan amount, tenure, income of individual, assets, relation with bank, CIBIL scores. So, you need to be sure about that you properly fulfill the requirements otherwise your loan application will be rejected.

For RBL bank personal loan, that’s all about the details. Share your comments and feedback to us at our web portal customer-carenumber.com

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