RBL Bank Personal Loan Interest Rates

• RBL Bank provides personal loans ranging from Rs. 1 lac to Rs. 20 lacs.
• A loan tenure period ranging from 12 months to 60 months is offered.
• RBL Bank does not require any security for a personal loan.
• The bank has streamlined the procedure of obtaining a personal loan. The paperwork submission process is similarly quick and simple.
• RBL Bank provides competitive interest rates on personal loans.
• The bank offers a speedy loan disbursement policy, and the hassle-free process improves the client experience.

Following are the RBL Bank Personal Loan Rate of Interest-

• Age range: 25-60 years old or retirement age.
• Minimum monthly net income: Rs 40,000.
• Work Experience: 3 years total, one year in present employment.
• RBL Bank, like other lenders, may analyze applicants' credit scores, job profiles, and employer profiles when determining personal loan eligibility.

• Completed application form with a colour photograph
• KYC documentation: PAN Card/Age/Identity Proof (Aadhar card, passport, driving license, voter ID)
• Aadhaar card, voter ID, driving license, passport, utility bill (electricity bill, telephone/mobile bill- not older than two months)
• The Bank statement for the previous 3 months with pay credited.
• Salary statements: 1 recent salary slip for loans less than 7.5 lakh

RBL Bank provides several methods for approaching them for a personal loan-

• The easiest and fastest method to get a personal loan is through an online application on the website.
• One can go to the nearest bank branch, meet with a bank representative, and make the entire submission there.
• The customer service team also assists in the dissemination of information about personal loans. They also handle inquiries and can accept personal loan application requests.

• The applicant's income: The applicant's income is one of the primary elements that determine the interest rate of the loan that will be offered. With the minimum income requirement set at Rs.25,000, the higher the individual's income, the more likely the personal loan interest rate will be set lower.
• If the applicant has a solid relationship with RBL bank by keeping an account with them for a number of years or has taken out a loan from them in the past, chances are that the interest rate provided will be lower.
• The applicant selected the following tenure: If the applicant chooses a short term, the interest rate will most likely be cheaper as well.
• The applicant's repayment history: The bank's interest rate will be greater if the applicant has a bad repayment track record, which will be reflected in his/her credit score.