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RBL Bank is one of the leading private sector banks in the country, providing its services to over 12 million customers. Among the services offered are loans, with the personal loan being one of the more popular products. 

With this loan, you can manage your unexpected and planned financial expenses at attractive personal loan interest rates from 14% onwards. To know how a personal loan from RBL Bank can help you address your financial requirements, read on.

RBL Bank Personal Loan Details

The RBL Bank Personal Loan is a good choice for a variety of uses, as you can borrow up to ₹20 Lakhs without pledging collateral. Here are the other key details about it to note.

Particulars

Values

Rate of interest

Starting from 14-23% p.a.

Total loan amount

₹1 Lakh – ₹20 Lakhs

Maximum tenure

1-5 years

Processing charges

Up to 3.5% of the total loan amount

Disclaimer: The details mentioned are subject to change at the lender’s discretion.

RBL Bank Personal Loan Interest Rate

RBL Bank Personal Loan interest rates are affordable and can help you meet your financial needs efficiently. For loan amounts of up to ₹20 Lakhs, the RBL Bank Personal Loan interest rate starts from 14.00% per annum onwards, with a maximum repayment tenure of up to 5 years. 

The RBL Bank Personal Loan has varying interest rates depending on your net monthly income, chosen tenure and credit history. You may also get added benefits if you are an existing customer of RBL Bank.

Check the table for a brief overview of the RBL Bank personal interest rates and how these change for self-employed and salaried professionals.

1. For Salaried Individuals Availing a Loan Amount of Less Than ₹5 Lakhs

Your Income

Applicable Interest Rate

You are availing a credit facility for the first time

24%

If your monthly income is between ₹20,0000-₹25,000

24%

If your monthly income is between ₹25,000-₹50,000

22%

If your income slab is between ₹50,0000-₹75,000 in a month

19%

If your income is more than ₹75,000 in a month but less than ₹1 Lakh

18%

If you have a monthly income of ₹1 Lakh or more

17.50%

2. For Salaried Individuals Availing a Loan Amount of More Than or Equal to ₹5 Lakhs

Your Income

Applicable Interest Rate

If your monthly income is between ₹25,0000-₹50,000

20%

If your monthly income is between ₹50,000-₹75,000

19%

If your income slab is between ₹75,0000-₹1 Lakh in a month

18%

If you have a monthly income of ₹1 Lakh or more

17.50%

3. For Self-Employed Individuals

Particulars

Applicable Interest Rate

If you are availing a loan amount exceeding ₹5 Lakhs

26%

If you require a maximum loan amount of less than ₹5 Lakhs

22.5%

Disclaimer: The loan amounts and RBL Bank Personal Loan interest rates mentioned above may change from time to time based on the financial institution’s policies. 

RBL Bank Personal Loan Fees & Charges

Particulars 

Applicable Figures

Processing charges

Up to 3.5% of the loan amount

EMI late payment charges

2% interest charged on the overdue EMI

Bounce cheque charges

₹250

Charges for cheque swapping

₹250

Foreclosure charges

  • No prepayment allowed until you complete paying your 12 EMIs

  • If you have paid 13-18 EMIs, you are charged 5% of your outstanding principal amount

  • If you clear more than 18 EMIs, you must pay only 3% of the outstanding principal amount

  • If you have paid 12 EMIs without any cheque bounce and foreclosed the loan using your funds, you do not have to pay any foreclosure charges

CIBIL report enquiry charges

₹50

Disclaimer: The details mentioned are subject to change at the lender’s discretion.

RBL Bank Personal Loan EMI Calculator

Loan Amount
Tenure
  • Months
  • Years
Rate of Interest
%

Monthly EMI

at % interest rate for months

Total Amount Payable
Principal Amount
Total Interest Amount
Year Principal Interest Balance

The following table shows EMI options, interest rates levied, and the total repayment amount of an RBL Bank Personal Loan.

Loan Amount (₹)

Interest Rate

Tenure

Monthly Instalment (Rs.)

Total Interest Amount

(₹)

Total Amount

(₹)

₹3,00,000

17.50%

1 year

₹27,433

₹29,192

₹3,29,192

₹3,00,000

17.50%

2 years

₹14,905

₹57,717

₹3,57,717

₹3,00,000

17.50%

3 years

₹10,771

₹87,742

₹3,87,742

₹3,00,000

17.50%

4 years

₹8,734

₹1,19,247

₹4,19,247

₹3,00,000

17.50%

5 years

₹7537

₹1,52,200

₹4,52,200

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

RBL Bank Personal Loan Features and Benefits

Some of the significant features of a personal loan from RBL Bank include the following:

  • Flexible repayment tenure options ranging from 12 months to 60 months

  • No requirement to pledge any security or collateral

  • Simple and quick documentation process

  • Quick loan approvals and faster disbursement period

  • Attractive interest rates ranging from 14-23%

  • Doorstep service available

RBL Bank Personal Loan Eligibility

To check your RBL Bank Personal Loan eligibility, the institution sets a few criteria and norms. Here are some of them:

  • You need to have a minimum net monthly income of ₹40,000

  • You must be at least 25 years old to apply for an RBL Bank Personal Loan

  • You must not exceed 60 years by the time of loan maturity

  • You need to have a total work experience of 3 years and 1 year of employment experience with the current employer

  • You need to have a minimum CIBIL score of 750

Documents Required for RBL Bank Personal Loan

There are a few essential documents to submit when applying for an RBL Bank Personal Loan. Here they are:

1. Completed application form with your latest passport-size photograph

2. KYC documents

  • Proof of address documents such as an Aadhaar card, Passport, Utility bills (any one)

  • Identity proof documents such as an Aadhaar card, Voters ID card, PAN card, Passport, Driving licence (any one)

 

3. Documents About Income

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

  • Statement of salary account for the last three months

How to Apply for an RBL Bank Personal Loan

Applying for an RBL Bank loan is quite simple and hassle-free. You can apply via two methods 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 an RBL Bank Personal Loan. Here it goes:

  • Visit the official website of RBL Bank

  • Fill in 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. So, when availing an RBL Bank Personal Loan, apply online/offline and address your financial emergencies quickly.

How can I Get in Touch with RBL Bank’s Customer Care?

You can contact the customer care team at +91 22 6115 6300 for all your banking queries. Alternatively, you can email the team at customercare@rblbank.com. 

While you have a diverse range of credit facilities, an RBL Bank Personal Loan is one of the most affordable products. It offers an easy, seamless, hassle-free process along with flexible repayment tenures and attractive interest rates.

To know more about its benefits and other processes, visit the official RBL Bank web page.

DISCLAIMER

The information and suggestions provided by BFDL hereinabove is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort.

The information including interest rates or fees, loan amount and other charges with regard to any product, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

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FAQs

What is the maximum personal loan amount RBL Bank can sanction?

You can avail a maximum RBL Bank Personal Loan amount of ₹20 Lakhs.

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 does it take to approve an RBL Bank Personal Loan?

The loan is approved in a single working day from the time you submit your loan application along with the necessary documents.

How can I calculate RBL Bank Personal Loan EMI?

You can easily calculate your RBL Bank Personal Loan EMI with the help of an EMI calculator.

What are the employment requirements for an RBL Bank Personal Loan?

The bank mandates a minimum monthly income requirement of ₹40,000 with a total work experience of 3 years. Also, note that you need to serve in your current concern for at least a year before you can avail a personal loan from RBL Bank.

Who can be the co-applicant for my RBL Bank Personal Loan?

Your spouse, children, siblings, and other family members can be the co-applicants.

What are the main reasons for personal loan rejection by RBL Bank?

The main reasons for personal loan rejection by RBL Bank may include poor credit score, unstable income pattern, etc. Additionally, if the applicant works in a company delisted by the bank, the loan application may be rejected.

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