RBL Bank Personal Loan

Education: Investing in education is imperative, because, indeed, tuition fees, especially for overseas studies, could be quite daunting. Whether you are visiting for yourself or your child, this personal loan comes from RBL Bank, helping you deal with the costs of educating and thereby paving a way for a better future.

Vacation: Of course, a dream holiday is always enticing, but when it comes to saving, there just cannot be any money left important enough to bite into that amount. But indeed, it is possible to visit all your dream destinations without worrying about making savings from your spending by taking an RBL Bank personal loan. Travel, accommodation, dining, and shopping expenses are all part of that memorable holiday-without-financial worries.

Medical: Emergencies do crop up anytime. The RBL Bank has come up with an innovative idea of quick personal loans with flexible repayment terms for one's urgent medical expenses and help him or her to walk through the process quickly and easily.

RBL Bank Personal Loan Eligibility Criteria

This is a pre-qualified personal loan exclusively for existing RBL Bank savings or salary account holders. The standard eligibility criteria are as follows:

1. The offer is available only to holders of RBL Bank Savings Accounts or Corporate Salary Accounts.

1. It is applicable only to Indian resident customers.

1. The borrower's age at the time of application must be between 25 years and 55 years.

Know about RBL Personal Loan Pre-Closure

Documents Required for RBL Bank Personal Loan

1. ID proof in the form of passport, driving license, or Voter's ID
2. Address proof in the form of passport, driving license, Voter's ID, electricity bill, telephone bill, bank statement, or registered sale agreement or lease deed
3. PAN Card
4. Relationship proof (if requested by the bank)
5. Passport-size photographs
6. Bank statements showing the latest six months' salary credit
7. The latest two months' pay slips
8. Form 16 issued by the employer
9. Any other valid photo identity proof issued by the State or the Central Government
10. Income documents of the salaried spouse (if the incomes are clubbed)

RBL Personal Loan Overview

The details of RBL Personal Loan scheme are given below:

1. From Rs.30,000 to Rs.5 lakh in loan amount
2. Repayment terms can be adjusted from 12 to 36 months.
3. Quick and easy documentation
4. Interest rates 18% p.a.
5. To obtain this loan, no collateral or security is needed.
6. Easy loan approval and disbursement process

RBL Bank Personal Loan Fees and Charges

1. RBL Bank levies a processing fee which is equivalent to 2% of the loan amount.
2. In case of late payment of EMIs, the bank will charge an additional interest of 3% per month. The charge will be levied on the overdue EMI amount.
3. Foreclosure charges are levied by the bank based on the time at which the foreclosure is made. Until the repayment of 12 EMIs, prepayment or foreclosure will not be permitted. In case you opt for foreclosure any time after making 13 to 18 EMI payments, 5% of the principal outstanding will be levied as foreclosure charges. In case you opt for foreclosure after paying more than 18 EMIs, 3% of the principal outstanding will be charged as foreclosure fees.

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