Apply Online for RBL Bank Personal Loan

Eligibility Criteria for RBL Bank Personal Loan

You can apply for a personal loan, once you meet the RBL Bank Personal Loan eligibility:

• At least ₹ 25,000 per month in net income is required.
• The applicant's age should not be less than 25.
• The applicant's age should not be more than 60.
• 1 year or more at the present job's minimum in the workplace.
• Experience working for 3 years overall.

Fees and Charges of RBL Bank Personal Loan

The private sector bank RBL Bank is one of those expanding quickly in India. Currently, it provides services to over two million customers via a network of 237 branches and 375 ATMs dispersed over 16 Indian states and Union Territories.

The World Economic Forum has designated RBL Bank as a "Global Growth Company" (GCC). The Bank was recognised as "India's Best Bank (Growth)" in the "Small-Sized Bank Segment" by Business Today-KPMG Best Bank Study for five years in a row (2012–16).

RBL Bank Personal Loans are offered at 18% p.a. for loan amounts up to ₹ 20 lakh and terms up to 5 years. Select RBL customers can get pre-approved personal loans from it, and all other applicants who meet the bank's eligibility requirements can get their personal loan applications accepted quickly.

Feature and Benefit of RBL Bank Personal Loan

People who are paid a RBL Bank Personal Loan apply without any hesitation. Following are a few aspects of the RBL personal loan:

• There is a range of loan amounts available, from one lakh to twenty lakh rupees.
• In order to make it easier for the general public to repay the loan, the payback time might be prolonged by up to 60 months.
• Low APRs are available for personal loans at RBL Bank.
• No collateral security or guarantee is required by the bank.
• An uncomplicated and rapid loan application process is provided.
• A monthly compounded interest rate on a declining basis, ranging from 15.50% to 23%, is charged by the bank.
• By combining your income with that of your spouse, you may be eligible for a larger loan.

Frequently Asked Questions (FAQ)

1. What is the turnaround time for RBL Bank's approval of personal loans?

Ans. If the applicant delivers the whole application form along with all necessary papers, RBL Bank promises to authorise the personal loan in just one day after it has been received.

2. Who is eligible to apply as a co-applicant for my RBL Bank personal loan?

Ans. Co-applicants for personal loans may include members of your family (spouse and kids).

3. What options do the applicants have for repaying their RBL Bank personal loans?

Ans. The borrowers can repay their personal loans using the NACH service, a standing order to debit from their RBL Bank account, or post-dated checks with their EMI account.