Looking for a personal loan to meet your financial needs? You can now avail an RBL bank personal loan! Manage your unexpected cash crush with low interest rates starting at 18% p.a. You can borrow up to ₹20 lakhs with a flexible repayment tenure extending to 60 months.
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 18% p.a. |
| Loan Amount | Up to ₹20 lakhs |
| Tenure | Up to 3 years |
| Minimum Salary | ₹40,000 per month |
RBL Personal Loan Interest Rates & Charges
RBL Bank offers an interest rate starting from 18% p.a. Individuals with high credit scores and strong financial portfolios usually qualify for lower interest rates. and ones with lower credit scores qualify for 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 | 18% p.a. onwards |
| Processing Fee | Up to 2% of the loan amount |
| Overdue interest | 2% p.m. of the overdue amount |
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.
Your Amortization Schedule (Yearly/Monthly)
Loan Eligibility for RBL Bank
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 of 1 year completed at the current organization and 3 years of total employment. |
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
- Colored 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 | 18% onwards | Up to 2% |
| 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% |
| Axis Bank | 10.25% onwards | 1.5% to 2% |
| IndusInd Bank | 11.00% | 2.5% onwards |
| Yes Bank | 10.99% per annum onwards | 2.50% (one-time fee) |
| Shriram City | 11.49% p.a. To 23% p.a. | 2.50% |
Note: The interest rates mentioned are subject to change. Do visit the website for more information.
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 the 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.
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 & install the Buddy Loan app (Android or iOS)
- Step 2: Open the personal loan application page. Provide the mobile number and enter the received OTP.
- Step 3: Specify the desired loan amount. Next, choose the Personal Loan option
- Step 4: Choose the employment type (salaried or self-employed) and the salary mode (bank or cash).
- Step 5: Enter your work details (including company name, years of service and designation)
- Step 6: Enter your personal details (including full name, PAN, address, DOB & gender)
- Step 7: Provide your communication address and income details, and click the ‘Submit’ button.
Download the Buddy Loan App Now!
One solution to each of your financial needs at your fingertip.
Scan to download now
