RBL BANK

Unlock your financial potential with RBL Bank's exclusive Personal Loan offer, tailored just for our valued existing customers with salary and savings accounts. Seamlessly navigate life's twists and turns with a swift and hassle-free loan experience. Need funds for home renovations, education, or a dream vacation? We've got you covered with a generous maximum loan limit of up to 5 lakh at a competitive interest rate of 18%.

Max. Loan Amt.

Up to ₹5L

Rate of Interest

12.00% - 18.00%

Tenure

12 - 36 Years

Processing Fee

2.00%

Instant Approval

No Paperwork

Avail our Personal Loan for any of the following:

Furnishings: With a personal loan from RBL Bank, you can renovate, repair, and furnish your dream house. This is specifically made to meet the demands of homeowners who wish to make any type of enhancement to their property, including structural repairs and interior renovations. Put off your concerns about paying the contractor, purchasing supplies, or even hiring an interior designer to rest by taking out a personal loan.
Marriage: Getting married is a lavish ceremony that costs a lot of money. A wedding involves a number of costs, such as reserving a location, purchasing jewellery, and paying for all the events. A personal loan relieves you of financial burdens so that you can fully enjoy the wedding.
Education: We are aware of how vital your or your child's education is. Paying college tuition can occasionally be a costly process, especially if the plan is to study overseas. You can use our personal loan solution to pay for your own or your child's education.
Holiday: If you need money for your dream trip but don't have enough saved up, we recommend applying for a personal loan. Take out a personal loan to travel to your preferred location without worrying about paying for lodging, food, shopping, and other costs.
Medical: Do you need to attend to a medical emergency? Try out our personal loan solution for quick payout and flexible repayment schedules.

Product Features

Loan amount from INR 30,000 to INR 5,00,000
Flexible repayment tenure from 12 to 36 months
Simplified and quick documentation
Attractive interest rates
No security or collateral required to avail this loan
Hassle-free loan sanction and disbursal procedure

Application Form duly signed with coloured photograph of the applicant.
No KYC Documents required
No salary slip or bank statement required

For existing RBL Bank account holders: Verification of the applicant's documentation concludes the application procedure for every personal loan. RBL Bank uses a straightforward procedure to validate your information. If you're already a customer of RBL Bank, the bank will not required any further documents in case your details remain unchanged. The pre-qualified base of customers can avail a pre-approved offer through a simple process through the bank's branch. As soon as the loan is approved, the funds will instantly be credited to your RBL Bank account.

Tenure and Repayment Options

The tenor of the loan is between 12 to 36 months, during which the borrowers can repay their personal loans. No collateral is required for processing this loan. Equated Monthly Instalments are an easy way to repay your debt (EMIs). To calculate your EMI, use our EMI calculator tool. The EMI must be paid each month and is easily collected by the bank through the standing instructions given by the borrower to debit their RBL Bank account at the time of loan onboarding.

Processing Fee: As a one-time processing fee, the bank will deduct 2% of the loan's total value at the time of disbursement.

Full Repayment: If you want to prepay or foreclose up to first 18 EMIs, the bank charges a fee of 5% of your outstanding principal. If the payment is made after 18 EMIs, you have to pay the bank a fee of 3% of your outstanding principal. NIL foreclosure charges only if minimum 12 EMIs are paid without any bounce and foreclosure is using Own funds. Balance Transfer of loan outstanding to another financial institute is not treated as own source of funds.

Interest Rates: Customers of personal loan from RBL Bank receive favourable interest rate of 18% per annum.

Charges on late Payment of EMI: If you miss or are unable to make your EMI payment on time, the bank will charge you 3% of EMI amount + GST, as the charges for late Payment of EMI.

Interest Reset Clause: The Borrower understands and acknowledges that the rate of interest stipulated will be subject to revision and shall be reset, depending on the change in the Marginal Cost of Funds based Lending Rate (MCLR) of the Lender or depending on the directives of Reserve Bank of India from time to time.

The Personal loan is offered at fixed rate of interest and option of conversion/switching loan from fixed to floating rates or vice versa is not available for the given product.

For further details of fees & charges, kindly refer to the section named service charges under quick links tab of the RBL Bank website.

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