Ratnakar Bank Limited was founded in 1943 and is headquartered in Mumbai, Maharashtra. The bank has a substantial presence in Mumbai. Corporate banking, institutional banking, commercial banking, retail banking, agriculture and development banking, and financial markets are all services provided by the bank.
The following are the essential aspects of RBL Bank's house loan-
Here are the tables for the RBL Bank home loan interest rates 2024 -
Loan Amount |
RBL Housing Loan Interest Rate |
Rs. 30.01 – 50 lakh |
8.95% - 9.10% |
More than Rs. 50 lakhs |
8.85% - 9.00% |
Loan Amount |
Interest Rates |
Up to Rs. 15 lakh |
11.10% - 12.00% |
Rs. 15 – 30 lakh |
10.60% - 11.55% |
Loan Amount |
Interest Rates |
Up to Rs. 15 lakh |
10.75% - 11.60% |
Rs. 15 lakh to Rs 30 Lakh |
10.30% - 11.15% |
Processing Charges - 1.5% (excluding GST)
There are various kinds of loans that cater to different motives, and they are-
This is a loan scheme for only Indian residents. You can also buy, renovate, construct, repair, and extend a unit of residence. This loan could be availed for a balance transfer. The repayment tenure for this loan is 25 years. The maximum amount that you can take from this scheme is Rs. 10 crores.
The RBL Bank Affordable Home Loan is a scheme that only Indians can take benefit of. You can use this loan scheme to buy, plot purchase, self-construction, extension, and more for a residential unit. This loan will also come with a top-up and a balance transfer opportunity. The tenure of the loan is up to a period of 20 years for a home loan and 15 years for a top-up loan. The maximum that an individual can get from this home loan scheme is Rs. 30 lakhs.
Simply go to RBL Bank's official website and click on 'Apply Now.' The screen will then display a page titled 'Loan Application Form.' Before completing the application, you must select 'Home Loan' from the list of goods and provide certain personal and professional information.
The bank will then dispatch a team of executives to conduct legal and technical inspections of the property. The market value of the property will be determined after examining its age and condition. As a result, the bank will disburse a loan amount equal to a specified proportion of the market value.
The bank's eligibility standards varied for different types of applicants, such as salaried professionals and self-employed persons.
To be qualified for the RBL bank house loan, each category must match the criteria. The qualifying requirement must be met in order to be eligible for an RBL Bank home loan. This becomes a key deciding factor for the quantity of your loan. Examples include-
Furthermore, the loan eligibility will be determined by the value of the property you choose. The close assessment of the worth of the property, the ability to repay the loan amount, and many other factors in determining potential borrowers will be the deciding factors of the loan amount that would be awarded to you.
For the Salaried-
For the Self-employed-
Income tax laws in India provide certain advantages to taxpayers who take out a home loan. Such taxpayers are entitled to a deduction for interest paid on such dwelling property up to Rs 2 lakhs.
In the case of a self-occupied house in the particular Assessment Year (AY), they can claim the total interest paid during the AY as a deduction, with no limit, if the property was rented out. Furthermore, up to Rs 1.5 lakhs, the principal component of such loan repayment, could be claimed as a deduction from whole income under Section 80C.