RBL Bank Personal Loan

Interest Rate starts from 15.00%
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Personal Loan From RBL Bank

A personal loan can come in help for any kind of situation like marriage, vacation, festivals, medical emergency etc. ApnaLoanBazaar provides you the customized and personalized quote for Personal Loan at lowest interest rates from various banks.
Interest Rate starts from 15.00%
Processing Fee
1.50%
Loan Tenure
Upto 3 Years
Guarantor Requirement
No
Part-Payment
Not Allowed
Pre-Closure Charges
3.0%

About RBL Bank

RBL Bank PLC is a British multinational banking and financial services company headquartered in London. It operates a network of more than 1,700 branches and outlets (including subsidiaries, associates and joint ventures) across more than 70 countries and employs around 87,000 people. It is a universal bank with operations in consumer, corporate and institutional banking, and treasury services. Despite its UK base, it does not conduct retail banking in the UK, and around 90% of its profits come from Asia, Africa and the Middle East.


Highlights

Best Foreign Bank 2012 - Bloomberg Financial Leadership Awards
Financial Advisor of the Year Award 2012 - UTI CNBC
Best Private Bank in India by the Asian Private Banker at the Awards for Distinction 2012.
Asia Cup - official partner of the bi-annual cricket tournament
The Economic Times Awards for Corporate Excellence - title sponsor from 2012 to 2016
Liverpool Football Club - our four year sponsorship started in June 2012.

FAQs About RBL Bank Personal Loan

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 documentssubmitted, 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 EMIamount. 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 througha 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 payingyour 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.

Required Documentation For Salaried Persons

  • Filled Application Form
  • Identity Proof (PAN CARD)
  • Address Proof
  • Latest 3 months Payslips
  • Job Continuity Proof
  • 2 Passport Size colour Photographs
  • 6 months Bank Statements
  • 3 Post Dated Cheques/ECS Mandate

Required Documentation For Self Employed

  • Filled Application Form
  • Identity Proof (PAN CARD)
  • Address Proof
  • Last 2 years Income Tax Returns
  • Professional/Self employed existence proof for more than 3 years
  • 2 Passport Size colour Photographs
  • 6 months Bank Statements
  • 3 Post Dated Cheques/ECS Mandate

Identity Proof For Personal Loan

  • Passport
  • Driving License
  • PAN card
  • Photo credit card (with embossed Signature and last two months statement)
  • Banker's sign verification

Age Proof For Personal Loan

  • PAN Card
  • Passport
  • License
  • School leaving certificate
  • Voter card
  • Birth Certificate
  • LIC policy (only for age Proof)

Income Proof For Personal Loan

  • Latest salary slip
  • Current dated salary Certificate with latest form 16.
  • Latest year IT Returns with Tax Audit reports(For Self Employed applicants)

Job Continuity Proof For Personal Loan

  • Form 16
  • Relieving letter
  • Appointment Letter (for last two months)
  • Last 6 months of VAT/Service Tax returns (For Self Employed Applicants)

Banking History For Personal Loan

  • Bank statements of latest 2 months
  • 3 months bank passbook

Personal Loan Can Be Used For Many Purposes Like Below

Higher Education

Marriage

Vacations

Festivals

Medical Emergency

Home Renovation

Consumer Goods

School Fees

Why To Avail RBL Bank Personal Loans?
Expert Advice
Factors That Affect Interest Rates
Advantages And Disadvantages
10 Things To Keep In Mind
RBL Bank Personal Loan Precautions