RBL Bank offers personal loans with interest rates starting from 12.99% p.a., providing flexible loan tenures of up to 60 months and loan amounts ranging from Rs. 1 lakh to Rs. 20 lakh. These loans are designed to cater to various personal financial needs, such as medical emergencies, weddings, travel, or debt consolidation.
RBL Bank personal loans feature quick approval, minimal documentation, and no collateral requirement. Additionally, the bank offers flexible repayment options, ensuring that borrowers can manage their finances comfortably while addressing their immediate personal needs.
RBL Bank Personal Loan Highlights
Interest Rate
14% p.a. onwards
Loan Amount
Up to Rs 20 lakh
Tenure
Up to 5 years
Processing Fees
Up to 2% of loan amount
Minimum Monthly Income
For Corporate Borrowers: Rs 25,000For Non-corporate Salary Borrowers: Rs 35,000Employee of HDFC Bank: Rs 20,000
Types of RBL Bank Personal Loans
Type of Loan
Purpose
LTV Ratio
Tenure
Special Features
Personal Loan
General personal expenses
80%
5 years
Quick disbursal
Marriage Loan
Wedding expenses
80%
5 years
Custom EMI plans
Travel Loan
Vacation financing
70%
3 years
Travel discounts
RBL Bank Personal Loan Features & Benefits
Zero Collateral: No need to mortgage property.
Loan Amount Tenure: Maximum up to ₹20 lakhs can be availed for up to 5 years.
Interest Rates: Attractive rate of interest starting at 14% p.a.
Digital KYC: Easy documentation with video KYC using Aadhar Card.
Flexible Repayment Options: Tailor the repayment schedule to fit your financial situation.
RBL Bank Personal Loan Interest Rate
Customer Type
Effective Rate Of Interest
For Salaried
14% – 24% per annum
For Self-employed
15% – 26% per annum
RBL Bank Personal Loan Processing Fees and Charges
Fee Type
Details
Processing Charges
Up to 2% of loan amount
Stamping Charges
As per respective State’s Stamp Act
Overdue Interest
2% per month
Credit Appraisal Charges
Up to ₹5,000 + GST
Credit Administration Charges
Up to ₹2,000 + GST
Collection Charges
3% + GST of cheque/instrument dishonor charges + overdue interest
Dishonor Charges per instance
₹500 + GST
Foreclosure Charges
5% + GST
Part Pre-payment Charges
₹500 + GST per instance
No due
NIL
Duplicate Issue of NOC
NIL
Copy of CIBIL
₹50 + GST
Copy of Records
₹50 + GST
Eligibility Criteria for RBL Bank Personal Loan
Requirements
Salaried
Self-Employed
Residency
Indian/NRI
Indian/NRI
Age
23 – 58 years
25 – 65 years
CIBIL Score
700 and above
700 and above
Minimum Net Income
₹25,000 per month
₹30,000 per month
Documents Required for RBL Bank Personal Loan
ID Proofs: Passport, Aadhar card, driving license, voter ID, PAN card
Residential Proofs: Passport, utility bill, leave and license agreement
Bank Statement: Past 3 months
Salary Slip: Last 3 months
Photographs: 2-3 passport size
RBL Bank Personal Loan EMI Calculator
Calculate your EMI using RBL Bank’s online EMI calculator. Simply enter the loan amount, tenure, and interest rate to get an estimate of your monthly payments. [Link to EMI Calculator]
Tips to Improve Loan Approval Chances
Improve Credit Score: Maintain a CIBIL score of 700 and above.
Reduce Existing Debt: Lower your existing debt before applying.
Stable Income: Ensure consistent and stable income to meet eligibility criteria.
How to Apply for a Personal Loan at RBL Bank?
Visit the RBL Bank website or nearest branch.
Click on ‘Apply Now’.
Provide your personal and income details.
Select ‘RBL Bank’ from the list of lenders.
Choose your preferred loan amount and repayment tenure.
Submit the application.
Following the verification of your application, an RBL Bank executive will contact you for further proceedings.
Types of RBL Bank Personal Loans
Personal Loan: Cover personal expenses with quick processing.
Marriage Loan: Manage wedding expenses with customizable repayment options.
Travel Loan: Get immediate financial assistance with travel-specific discounts.
Why Apply for Personal Loans through Grow Associates?
Offers from Top Lenders: 30+ partner Banks/NBFCs/Fintechs provide the best available loan in one place.
Compare & Choose: Easily compare loan offers from top banks, NBFCs, and fintechs to choose the best option.
Personalized Solutions & High Approval Chances: Personal loan offers are ranked according to your credit score and eligibility factors, maximizing your chances of approval.
Pre-Approved Loans: Access pre-approved personal loan offers based on your credit health.
End-to-end Assistance: From loan selection to fund disbursement, [Platform/Agency Name] assists you at every step.
RBL Bank’s personal loan is an ideal solution for anyone in need of quick funds to meet financial needs. With competitive interest rates, flexible repayment options, and a hassle-free application process, RBL Bank ensures you have the financial support you need when you need it most.
FAQs
What is the minimum loan amount I can borrow from RBL Bank? The minimum loan amount you can borrow from RBL Bank is ₹1 lakh.
How long does it take to get the loan disbursed? After your application is approved, the loan amount is typically disbursed within 48 hours.
Can I foreclose my RBL Bank personal loan? Yes, you can foreclose your RBL Bank personal loan after 12 EMIs, with a foreclosure charge of 5% + GST.
Is there a part-prepayment option available for RBL Bank personal loans? Yes, RBL Bank allows part-prepayment, subject to a charge of ₹500 + GST per instance.
What is the CIBIL score required for an RBL Bank personal loan? A CIBIL score of 700 or above is generally required for a personal loan from RBL Bank.
