RBL Bank Personal Loan


Looking for a personal loan to meet your financial needs? You can now avail RBL personal loan! Manage your unexpected cash crush with low interest rates starting at 14% p.a. You can borrow up to Rs. 20 lakhs with a flexible repayment tenure extending to 60 months.

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Online RBL Personal Loan Details

Interest rate, loan tenure, processing fee, etc. are important factors that you must consider prior to your loan application. Check out the highlights of the RBL bank's instant personal loan in the table given below.

Interest rate Starting at 14% p.a.
Loan Amount Up to ₹20 lakhs
Tenure Up to 5 years
Minimum Salary ₹40,000 per month

RBL Personal Loan Interest Rates & Charges

RBL Bank offers interest rate starting from 14% p.a. Individuals with high credit score and strong financial portfolio usually qualify for lower interest rates. and ones with lower credit score qualify for a higher interest rates. The rates also depend on other factors, like the borrower’s income and loan tenure. Existing customers of RBL Bank may enjoy a lower interest than non-customers do.

RBL Bank Interest Rates 14% p.a. onwards
Processing Fee Up to 3.5% of the loan amount
Overdue interest 2% p.m. of the overdue amount

RBL Personal Loan EMI Calculation

Calculate your monthly EMI and manage your loan repayments for an RBL Bank personal loan, use this EMI calculator. Get instant results by entering the loan amount, interest rate, and loan tenure. Take control of your funds and manage them successfully.

₹
%
Monthly EMI ₹86
Principal Amount ₹1,000
Total Interest ₹32
Total Amount ₹1,032.00

Year Month Principal (A) Interest (B) EMI (A+B) Balance Loan Paid to Date (%)

RBL Personal Loan Eligibility

RBL bank determines eligibility for personal loans based on a set of criteria. It estimates the eligibility by taking into consideration variables including income, monthly costs, and current financial commitments (including loans, EMIs, and credit card dues).

Factors General Eligibility Criteria
Age 25 yrs to 60 yrs
Annual Income Minimum ₹40,000 per month
Work Experience Minimum 1 years completed at the current organization and 3 years of total employment.

RBL Personal Loan Documents Required

You must submit all the required documents for verification in order for the application process to go smoothly. The following documents are needed to apply for a personal loan with RBL Bank:

Duly signed application form

Coloured photograph of applicant

KYC documents (PAN Card, Aadhaar, Passport, Driving License, Utility bill, etc)

Salary slip (1 latest slip for loan under ₹7.5 lakhs, 2 latest slips for loan higher than ₹7.5 lakhs)

Comparison of RBL Personal Loan Vs Other Banks

Here is a table showing the comparison of RBL Personal Loan rates with other banks:

Lender Interest Rates Processing Fees
RBL Bank 14% onwards Up to 3.5%
Punjab National Bank 10.40% onwards Up to 1%
HDFC Bank 11.00% onwards Up to 2.50%
ICICI Bank 10.75% onwards Up to 2.50%
Citibank 9.99% p.a. To 16.49% p.a. 0.25% to 3.00%

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Note- The interest rates mentioned are subject to change. Do visit the website for more information.

Features & Benefits of RBL Personal Loan

RBL personal loans offer the following exclusive features and benefits:

Quick Approval

Get your loan approved in 1 day.

Easy Repayment

Choose your preferred repayment tenure.

Flexibility

Can be used for multiple purpose.

Attractive Interest Rates

Starting from 14% p.a.

No Collateral

No need of of risking your assets.

No Hidden Charges

No hidden charges and extra penalties.

Types of Loans Offered by RBL Bank

RBL Bank offers a diverse selection of personal loans to cater to your specific financial needs. Explore our range of options, including loans for medical expenses, weddings, education, home furnishing, and holidays.

Personal Loan for Medical Expenses: Secure the RBL personal loan instantly to cover urgent medical bills and healthcare expenses.

Personal Loan for Weddings: Transform your dream wedding into reality with RBL personal loan and finance all wedding-related costs like venues, decorations, and catering.

Personal Loan for Education: Invest in your future and achieve academic goals by funding education expenses, including tuition fees and educational materials.

Personal Loan for Home Furnishing: Enhance the comfort and style of your home by availing a personal loan to purchase furniture, decor, and appliances.

Personal Loan for Holiday: Embark on your dream vacation by securing an RBL personal loan designed to cover travel expenses, including flights, accommodations, and exploration.

Explore and apply for the loan of your choice with BuddyLoan from the links provided below:

Personal Loan for Education Personal Loan for Wedding
Personal Loan for Travel Personal Loan for Medical Emergency

4 Easy Steps to Apply for RBL Personal Loan with Buddy Loan

Here’s the step-by-step process you can follow to apply for RBL personal loan on Buddy Loan:

Step 1 - Visit buddyloan.com or download the Buddy Loan app and compare features.

Step 2 - Fill out the application form, including the loan amount, the tenure in months, and contact details.

Step 3 - Fill out the following personal details where required:

  • Email Address
  • Employment Type : Salaried/ Self-Employed
  • Company Type
  • Industry Type
  • Current Company Name
  • Company Address
  • Year of Employment
  • Net Income
  • Mode of Salary
  • PAN Card Details
  • Full Name (As Per Pan Card)
  • Current Address with PIN Code
  • Mobile Number

Step 4 - Cross verify the given information and submit the application.

Ready to take next step ?

Frequently Asked Questions on RBL Personal Loan

The interest rate on RBL Bank personal loan starts from 14% p.a.

Eligibility for a personal loan in RBL varies based on factors such as income, employment type, and credit history.

RBL Bank usually approves a personal loan on a single working day from the date of receipt. Provided, the customer submits complete application with required documents.

You can apply for RBL personal loan online via Buddy Loan, or via the official website of RBL Bank. You can also visit a branch and apply.

You can get a personal loan of up to ₹20 Lakh from RBL Personal Loan

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