RBL Bank personal loan is offered to both salaried and self-employed individuals based on their monthly income. RBL Bank personal loan interest rate starts at 18% per annum with a maximum repayment period of 36 months. You can apply for the loan quickly through the official website of the bank by filing the online loan application form. RBL, or the Ratnakar Bank Limited, is one of the best private sector banks in India and provides all essential banking and financial services.
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RBL Bank Personal Loan: Major Highlights
RBL Bank provides personal loans without any collateral. The loan sanction and disbursement process is also very easy and quick. If you need a loan for education, you can apply for RBL Bank education loan also. You can get the loan within hours subject to approval and eligibility. Check some of the major features of RBL personal loan in the table below:
| Particulars | Details |
| Loan Amount | Up to INR 5 lakh |
| Repayment Period | 12 to 36 months |
| Interest Rate | 18% per annum |
| Processing Fee | 2% of loan amount |
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How to Apply for an RBL Personal Loan?
RBL Bank personal loan online apply process is simple and quick. You can visit the official website and fill out the loan application form. Check the steps involved in the RBL Bank application process below:
- Visit the official website of RBL Bank
- Go to the personal loan section and check the features of the loan
- Click on the ‘Quick Links’ tab and download the loan application form
- Fill out the form and submit the same to the bank
- Upload all relevant documents properly
- Wait for the loan sanction and disbursement
Eligibility Criteria
The eligibility criteria for any type of loan must be understood properly before applying. If any single eligibility criteria is not fulfilled, the loan will get rejected and it will also reflect on your credit score that a credit enquiry was made. Check the eligibility criteria for the RBL Bank personal loan below:
- Only those individuals who have an RBL Bank Savings Account or corporate salary account holders can apply for the loan
- The age of the candidate must be between 25 years and 55 years
- The minimum monthly income of the applicant should be at least INR 20,000 to INR 25,000
- The CIBIL score of the applicant must be good, at least above 750
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Documents Required for RBL Bank Personal Loan
Documentation is one of the most important stages of getting a loan. All the documents must be submitted properly to the bank along with the loan application. The documents must be self-attested or verified by the gazetted officer (if required). Check the details of the required documents for the RBL Bank personal loan below:
- Duly signed loan application form
- A coloured passport-size photograph of the applicant.
- Since the applicant will be an existing customer of the bank, hence no KYC documents are required
- The salary slip or bank statement is also not required
RBL Bank is one of the best private banks in India. You can get personal loans, education loans, home loans etc. Check all the features of the loan before applying. Go through some common FAQs based on RBL Bank personal loans below:
FAQs
RBL Bank offers personal loans with an interest rate starting at 18% per annum. This rate may vary depending on the applicant’s credit score and income.
The repayment period for an RBL Bank personal loan ranges from 12 to 36 months.
Applicants must have an RBL Bank savings or corporate salary account. The applicant must be between 25 and 55 years old and should earn a monthly income of at least INR 20,000 to INR 25,000.
Since applicants are existing RBL Bank customers, no KYC or salary documents are needed. Only a duly signed application form and a passport-size photograph are required for the loan.
You can apply online by visiting the RBL Bank website. You need to fill out the loan application form and upload the necessary documents.
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