Check Your Eligibility
To know how much loan you can get
Last Year ITR
Salaried individuals can get RBL Bank personal loans for their unplanned and planned needs of urgent funds. RBL Bank offers a personal loan between Rs. 1 lakh and Rs. 20 lakh for medical emergency, vacation, wedding, home renovation, purchase of consumer durables or credit card bill payment. RBL Bank personal loan interest rate ranges from 14% - 23% p.a. for a repayment tenure between 12 and 60 months.
➤ What are the RBL Bank personal loan eligibility criteria?
You need to meet the following eligibility criteria to get a personal loan from IIFL:
Resident citizen of India
Individuals aged between 25 years to 60 years
Rs. 20,000; for residents of Mumbai and Delhi, Rs. 25,000
Total work experience
Should have at least 3 years of job experience
Work experience in the current organization
Should be in the organisation for at least 1 year
➤ What is the RBL Bank personal loan eligibility calculator?
Personal loan applicants can know their eligibility for RBL Bank personal loan by visiting the official website of the bank and apply for the loan online. You can also check your eligibility online on Afinoz.com. Here is how you can check your eligibility for a personal loan:
Go to the home page of Afinoz and click on ‘Apply Now’ link under the personal loan section.
- Enter required details including loan amount you need, your monthly income, existing EMI, mobile number, employer details, etc. and submit the request.
- On the next page, you will see the personal loan offers from multiple lenders, including RBL Bank Personal Loan based on your eligibility.
➤ Factors that may affect the RBL Bank personal loan eligibility
- Age: Age is one of the basic important factors that impacts an applicant’s eligibility for a personal loan. Younger applicants have more chances to qualify for a personal loan than ones who are above 50 or approaching retirements, because young borrowers have adequate time to repay the loan. RBL Bank offers a personal loan to individuals aged between 25 to 60 years.
- Employment status: RBL Bank offers a personal loan for salaried employees with a minimum income of Rs. 20,000 per month. However, residents of Mumbai and Delhi should earn at least Rs. 25,000 per month to apply for RBL Bank personal loan. Higher salary will help applicants to get a personal loan easily.
- Repayment capacity: Personal loans are an unsecured loan i.e. lenders don’t ask for an asset against the loan amount offered. Hence, repayment capacity plays a crucial role in personal loan eligibility. Your monthly income and obligation (debt-to-income) ratio should not be more than 50% to get a personal loan from RBL Bank. You can use RBL Bank Personal loan EMI calculator to know your monthly payment and decide the loan amount and tenure accordingly.
- Relationship with the RBL Bank: Relationship with a lender matters a lot for a personal loan application approval. Existing customers of RBL Bank may find it easier to get the loan application approved. The bank also offers lower interest rates and concession on processing fees.
- CIBIL score: Since a personal loan is a collateral-free loan, credit score of an applicant plays a crucial role in his eligibility for the loan. Individuals with a good credit score are considered less risky borrowers. If you have a good track record of loan/ credit card bill payment, you would have a good credit score. RBL Bank offers a personal loan for individuals with a credit score of 750 or above.
➤ RBL Bank Personal Loan- Documents Required
RBL Bank offers a personal loan with minimal documentation and instant approval. You can apply for the loan by entering your personal and financial information and uploading the documents online.
Here are the documents you need to keep handy while applying for RBL Bank personal loan:
- Filled loan application with colored passport size photographs
- KYC documents (PAN card, identity proof and age proof i.e. one of valid driving license, Aadhaar card, passport; address proof i.e. one of the Aadhaar card, voter’s ID card, latest utility bills (electricity, telephone, mobile)
- Salary slips for the past 3 months
- Bank statement that shows salary credit for the last 3 months
- Rent agreement (If required)
➤ RBL Bank Personal Loan Customer Care
RBL Bank continuously works to provide the best customer care services to loan borrowers. You can reach the bank for any concern about a personal loan. Here are the online and offline channels to reach RBL Bank:
- Contact number: You can reach out to RBL Bank customer care team by calling (+91)22-6115-6300 or toll-free number 1800-120-616161.
- Email address: You can write an email: firstname.lastname@example.org
- You can send a letter to RBL Bank at the following address
RBL Bank Ltd.
One World Center, Tower 2B, 6th Floor,
841, Senapati Bapat Marg,
Lower Parel (W),
Mumbai 400013. India.