Get Lowest Personal Loan Interest Rate ✓ Loan up to 50 Lakhs ✓ Quick Disbursal ✓ Minimum Documentation!

RBL Bank is headquartered at Kolhapur, Maharashtra. It’s one of oldest private sector banks in the country providing their services to over 3.15 million customers and has a massive business of over Rs. 64,000 crores. 

Disclaimer: RBL Bank is not a Bajaj Markets partner. Offers would be from partner Banks/NBFCs only.

RBL Bank Personal Loan Interest Rate

RBL Bank Personal Loan interest rates are quite affordable and help the majority of their customers to meet their financial requirements. For loan amounts of up to Rs. 20 Lakhs, RBL Bank Personal Loan interest rate starts from 17.50% per annum onwards with a tenure of 5 years. The following table denotes the key highlights of acquiring a RBL Bank Personal Loan:

RBL Bank Personal Loan Highlights

Interest rate

17.50% - 26% per annum

Loan Amount

Rs. 1 Lakh - Rs. 20 Lakhs

Tenure

1 - 5 years

Processing Fees

Up to 2% of loan amount

Minimum Monthly Salary

Rs. 40,000

Disclaimer: The loan amounts mentioned above may change from time to time based on the financial institutions’ policies. 

Features and Benefits of RBL Bank Personal Loan

Some of the major features of an RBL Bank Personal Loan include:

  • Loan amount ranges from Rs.1 Lakh to Rs. 20 Lakhs with affordable interest rates.

  • Tenure ranges from 12 months to 60 months.

  • No requirement for security or collateral.

  • Simple and quick documentation process and faster loan approvals as compared to other similar financial institutions.

RBL Bank Personal Loan Eligibility

To check the applicant's RBL Bank personal loan eligibility, there are a handful of criteria and norms set by RBL Bank. These criteria are as follows:

 

  • The applicant must have a minimum net monthly income of Rs. 40,000.

  • The applicant must be at least 25 years old to apply for an RBL Bank loan and shouldn't be more than 60 years by the time of loan maturity.

  • The applicant must have a total work experience of 3 years and 1 year with the current employer.

  • CIBIL Score minimum of 750 is required.

RBL Bank Personal Loan EMI Calculator

If you're curious about your EMI while availing of a personal loan, then the Personal Loan EMI calculator would be the perfect tool. This tool uses loan amount, interest rate, and tenure to calculate your EMI quickly. Saving your time and energy! The following table shows EMI options, interest rates levied, and the total repayment amount:

** The above charges are excluding taxes
* Placeholder for disclaimers on Interest and Charges page
 **These are indicative and subject to change at the discretion of lender/ without prior notice.

Loan Amount (Rs.)

Interest Rate

Tenure

Monthly Instalment (Rs.)

Total Interest Amount

(Rs.)

Total Amount

(Rs.)

₹ 3,00,000

17.50%

11 year

₹ 27,433

₹ 29,192

₹ 3,29,192

₹ 3,00,000

17.50%

22 years

₹ 14,905

₹ 57,717

₹ 3,57,717

₹ 3,00,000

17.50%

33 years

₹ 10,771

₹ 87,742

₹ 3,87,742

₹ 3,00,000

17.50%

44 years

₹ 8734

₹ 1,19,247

₹ 4,19,247

₹ 3,00,000

17.50%

55 years

₹ 7537

₹ 1,52,200

₹ 4,52,200

Disclaimer: The prescribed loan amounts and interest rate levied mentioned above may change from time to time based on the financial institutions’ policies. 

How to Apply for a RBL Bank Personal Loan 

Applying for an RBL Bank loan is quite simple and hassle-free. Two methods exist to apply for the loan if you meet the RBL Bank personal loan eligibility parameters. They are as follows:

 

1. Applying through the online method

This is the fastest and easiest way to apply for the RBL Bank personal loan.

To apply online, you have to follow these steps,

  • Visit the official website of RBL Bank

  • Fill the application form with the required information.

  • Provide necessary documents.

  • Wait for the bank executive to contact you for the KYC formalities.

 2. Applying through the offline method

You may visit your nearest RBL Bank branch, and the bank executives will help you through the application process.

Documents Required for RBL Bank Personal Loan

There are a few important documents that any individual requires to furnish while applying for a RBL Bank personal loan. They are as follows:

1. Filled application form

2. KYC documents:

  • Proof of Address

  • PAN card

  • Identity proof such as Voters ID card, PAN Card, Passport, Driving Licence.

3. Documents about Income:

  • Latest salary certificate or salary slip for the last two months.

  • Statement of Salary account for the last three months

While there is a wide array of variants to choose from, a RBL Bank personal loan stands out among the rest. It offers an easy, seamless and hassle-free process for accruing funds and the interest rates are also quite considerable. To know more about its benefits and other processes, visit the official RBL Bank web page.

Frequently Asked Questions

  • ✔️What is the maximum personal loan amount that can be sanctioned by RBL Bank?

    The maximum amount of personal loan that can be availed is Rs. 20,00,000.

  • ✔️Is there an age limit to apply for an RBL Bank Personal Loan?

    To apply for an RBL Bank loan, you should be at least 25 years old. And, the maximum age limit is 60 years at the time of loan maturity.

  • ✔️How much time is taken for the RBL Bank Personal Loan to be approved?

    The loan is sanctioned within 2-3 working days of the RBL Bank personal loan application, considering the application verification and the related documents are submitted and approved.

  • ✔️How can I calculate RBL Bank Personal Loan EMI?

    One can easily calculate their RBL Bank personal loan EMI with the help of the EMI calculator.

  • ✔️How can I get in touch with RBL Bank customer care?

    For RBL Bank loan related queries, one can contact the customer support at 022-71190900 (toll-free) or through the email, customercare@rblbank.com.