About RBL Bank Personal Loan

Counted amongst the fastest growing scheduled commercial banks of India, Ratnakar Bank Limited or RBL Bank is headquartered in Mumbai. The bank was founded in August 1943 and offers a wide range of services to five major sectors including retail and commercial banking. It has close to 5000 employees and a rapidly growing network of ATMs and branches all over India.

RBL bank offers a convenient and quick personal loan product to interested borrowers. Like majority of private sector banks, RBL Bank also doesn’t put any restriction on the purpose you want to use the personal loan for. You’re free to utilize the disbursed loan amount for funding a big fat wedding, a vacation, higher studies, medical emergency, home renovation or anything else. The bank promises simplified documentation and quick disbursal. Below you can find details on RBL Bank personal loan eligibility criteria, features and the applicable charges.

Personal Loan Eligibility Criteria for Salaried / Self-Employed

RBL Bank offers personal loans to salaried individuals who are at least 25 years old at the time of sanctioning of the loan amount. The maximum age limit at the time of loan maturity should be either the retirement age or 60 years, whichever is lower. The applicant should have a minimum net monthly income of INR 25,000. Apart from that, he/she should have been employed with his current organization for minimum one year, and have a total of three years’ work experience. Following are the updated details related to RBL Bank personal loan eligibility criteria.

18 – 65 years

Age (Min – Max)

4k – 65k

Minimum Income (Metro Cities)

4k – 65k

Minimum Income (Other Cities)

18 – 65 years

Age (Min – Max)

4k – 65k

Minimum Income (Metro Cities)

4k – 65k

Minimum Income (Other Cities)

4k – 65k

Minimum Income (Doctors/ Chartered Accountants)

4k – 65k

Minimum Income (Company Secretary / Architect)

4k – 65k

Minimum Income Self Employed (Businessman)

RBL Bank Personal Loan Features / Details

RBL Bank offers personal loans ranging from INR 1 lakh to INR 20 lakh. The availed personal loan can be repaid in a flexible arrangement, within 12 to 60 months. There is no need of providing a collateral or security to avail this loan. The bank promises: simplified and quick documentation, attractive interest rates and a hasslefree sanction & disbursal process. You can even club the income of your salaried spouse to avail a higher personal loan amount. Below you can go through the precise and updated RBL Bank personal loan features.

18.25%

Interest Rate (Min)

Upto XX Years.

Loan Tenure

25k – 50Lacs

Loan Amount (Min – Max)

RBL Bank Personal Loan Fees / Charges

RBL Bank personal loan involves a processing fee of up to 3% of the loan amount (plus GST). This fee is deducted from the disbursed loan itself. Apart from that other important charges like prepayment fee, part payment processing fee, late payment charges, loan cancellation charges, cheque bounce penalty, cheque swapping charges, no objection certificate charges, no dues certificate charges, credit report copy fee and amortization schedule charges might also be levied depending upon your situation and requirement. Details regarding these charges are provided below.

2.4% of Loan Amount.

Processing Fees

2.4% – 5.2% of amount prepaid.

Pre-payment Charges

Yes / No

Part Payment Facility

2000

Part Payment Processing Fees