RBL Bank Personal Loan 2022

RBL Bank Personal loan

RBL Bank, one of the most admired banks in the country, provides attractive Personal Loans for all individuals’ various financial requirements at their time of financial emergencies. RBL Bank personal loan can be availed for any genuine personal credit requirement at the competitive rate of interest with a hassle-free loan amount disbursement. 

Why take personal loans from RBL Bank?

Unexpected situations which require urgent funds can crop up anytime in your life. Maybe it is to pay for children's studies, medical treatment or even simply just going on a vacation. It’s important to have a back up financial resource in order to get over the crisis and get back on your feet. A Personal Loan could help you in such times of requirements, without the need for collateral or guarantor. A personal loan is mainly a no-collateral, all-purpose loan, whose end-use is not restricted. You can use the personal loan in any way you wish.

Read more- RBL Bank Personal Loan Interest Rate

Eligibility for RBL Bank personal loan is decided on the basis of certain parameters. A loan seeker must come under the below-mentioned eligibility criteria:

• Age limit: The age of the RBL Bank personal loan applicant should be minimum of 25 years and maximum up to 60 years. Moreover, the loan should be repaid at least one year before his/her retirement from service.
• Service: loan applicant should be a permanent employee with a minimum of 1 years service at current employment & 3 years overall employment experience.
• Minimum Income: individuals having minimum Gross Monthly salary of Rs.25,000/- are eligible for this loan.
• Eligibility and EMI calculator: Now, you can easily evaluate and calculate your RBL Bank personal loan eligibility and RBL Bank personal loan EMI amount using utility tools like personal loan eligibility calculator and personal loan EMI calculator at afinoz.com. These calculators will help you to determine your EMI outflow every month including the interest rate you will need to pay. Using the calculator at Afinoz.com is free, easy and simple.

Individuals applying for RBL bank personal loan should pay attention towards documentation required to get the personal loan in RBL bank.

• PAN Card – For Individuals
• Identity Proof – Anyone (Voter ID/Driving License/Passport)
• Address Proof – Anyone (Voter ID/Driving License/Passport/Telephone Bill/Electricity Bill/ Registered Lease Deed or Sale Agreement/Bank Statement)
• Relationship Proof (if required)
• Passport Size Photographs
• Any other valid Photo ID card issued by central or state government
• Latest 6 months Salary credit Bank Statements

Financial documents required for salaried employees

• Latest 2 months pay slips and Form 16 issued by the employer.
• Income documents of salaried spouse (in case of clubbing of income)

RBL bank has attractive features & benefits from easy loan approval to a higher loan amount with flexible loan tenure. Here are some features & benefits of RBL bank personal loan:

• You can avail a loan amount from 1 Lakh up to 20 Lakhs.
• RBL bank provides convenient loan repayment option ranging from 12 to 60 months.
• No security or collateral is required to avail a personal loan from RBL bank.
• Documentation is simplified and quick
• Attractive rate of interest
• Hassle-free loan sanction and disbursal procedure
• Loan payable in easy installment

RBL Bank ensures that its customers get the most suitable amount of loan at the best interest rates available in the market. To make it more convenient and interactive for its prospective borrowers, the bank offers a simple formula to calculate and analyze the exact sum of instalments one would require to pay for their desired loan amount borrowed from the bank for a specific tenure.

However, for you to easily understand the basics of the loan process and the anticipated EMIs, we have prepared a table for various amounts at applicable interest rates;

₹ 2,00,000 of loan taken at a rate of interest of 17.50% (effective rate of interest – 0.015% per month) for a tenure ranging from 12 months to 60 months –

Various amount of loan taken at a rate of interest of 17.50% (effective rate of interest – 0.015% per month) for a tenure of 12 months –

Comparative –

Applying for an RBL Bank personal loan is quite simple, and you can get an instant approval once you fit in the eligibility criteria. Applying for the loan online is the fastest way of getting a personal loan.

To apply online, visit the RBL Bank official website and check Personal Loan:

• Click on the apply now link & fill in your information in the online form
• Fill in your Name, Date of Birth, Gender, Mode of Income and Repayment, E-mail ID and contact number
• After you submit the application, a loan quote is displayed that you may be eligible for
• Click on apply. On successful application, the bank will contact you to complete KYC formalities

If you are not comfortable applying for the loan online, don’t worry. You can simply walk in to any of our branches and apply for a personal loan. Our executives will walk you through the application process

How to apply for RBL Bank Personal Loan through Afinoz?

While you can do your RBL Bank personal loan application through Afinoz, you should follow the following:

• Check your RBL Bank personal loan eligibility with the personal loan eligibility calculator at Afinoz. Simply visit Afinoz.com, fill in a few easy details and get an instant and accurate assessment of your personal loan eligibility
• Check your RBL Bank personal loan EMI with the personal loan EMI calculator at Afinoz.com. This will help you to know the exact amount you need to pay every month towards the repayment of your loan
• Check the documentation required for your RBL Bank personal loan application. Whether you are salaried or self-employed, applying with the proper set of documents will enhance your chances of getting your loan approved in the least possible time

At RBL Bank, with the bank’s website, one can anytime log in-to their respective RBL Bank personal account or directly into their loan account by using their credentials such as the Login ID and password. Once logged in, it is very convenient to check out all the activities of your account on the go. RBL Bank also provides the overview feature through its app, you can enter your loan account number, or simply scroll through the overview section of the app for all the information regarding your current account status.

Once you have successfully submitted your application form with all the required documents, you would be required to check the current status of proceedings on the application. One can avail this service by simply logging-on to the bank’s website or mobile application and enter your loan application number. After entering the reference number, the page would ask about the loan account password and captcha code. On the next screen, the information is displayed whether the loan is under processing, is rejected or will be disbursed soon.

If the applicant is an elderly who is not able to check the status online, they can call the customer care executive or can visit the nearest branch.

All the prospective borrowers and the existing customers of the bank can raise concerns and queries with the help of the pan India toll-free number 1800 123 8040 or you can call on 022 6115 6300. Customers are also requested to drop an email on customercare@rblbank.com in case they would like to enquire about the loans and products in detail.

About the bank

RBL Bank has earned appreciation in various national and international forums such as CNBC ASIA’s India Talent Management Award (2017); ‘India’s Best Bank (Growth)’ in the ‘Small-Sized Bank Segment’ by Business Today-KPMG Best Bank Study for six consecutive years (2012-17).