RBL Bank Business Loan

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RBL Bank Business loan is one of the best ways to finance your business needs. RBL Bank offers business loans in India with the motto of providing financial help to fulfil the requirements of short term business and working capital needs. Business financial requirements are capably addressed via these kinds of unsecured loans relying on business growth for the timely repayment of the loan. The Business Loan RBL (Ratnakar Bank) may be either working capital loan or a demand loan with the repayment tenure of up to three years.

The loan is offered to businesspersons or entrepreneurs having the wish of improving existing business related infrastructure or expanding their business. So, these loans are used for various business requirements by the people of India. At our website, you can check RBL Bank business loan eligibility and RBL Bank EMI calculator for free. Stay updated on this page, Loanbaba.com provides all the information about RBL Bank business loans:

RBL Bank Business Loan Details updated on
Loan Amount Rs.10 Lakhs upto Rs.35 Lakhs
Loan Tenure 12 to 60 months
Processing Fee 2% to 3% of the principal borrowed
Interest Rate Base rate 20.00% per annum
Foreclosure No charges. Allowed after the initial 12 EMIs

Why Apply for RBL Business Loan?

Below-mentioned are the reasons for applying with RBL for a business loan.

Features of Business Loans at RBL Bank

The following key points will help you understand the features and benefits of the business loans RBL Bank:

Documents Required to Apply for RBL Business Loan

Below-given is a list of documents needed for RBL loan for business.

For Sole Proprietorships/Self-Employed Professionals/Self-Employed Individuals

For Private Limited Companies/Partnership Firms

RBL Bank Business Loan Interest Rates

The RBL Bank business loan interest rate: Base rate is 10.65% per annum and prime lending rate is 16.25% per annum, but varies as per individual profile. Current rate of interest is 20% per annum. The applicable rate of interest majorly depends on your business financials, loan amount, tenure, repayment capacity, and other factors. Another factor that can determine the interest rate of the business loan is the legal structure of the business. For example, a small business with sole proprietorship may qualify for a higher rate of interest than a business with an incorporated structure.

Types of RBL Business Loan Interest Rates

There are also two types of interest rate that may apply to business loans, namely diminishing rate of interest and flat rate of interest:

Keep a check on this page to note the updated RBL Bank business loan interest rate for the current year.

RBL Bank Business Loan EMI Calculator

EMI is equated monthly instalment is an amount to pay every month towards repayment of a loan till its tenure’s end. As per the current rate of interest of 20%, the lowest EMI amount on RBL business loan is Rs. 3,716.

RBL Bank Business Loan Eligibility Calculator

Business loan eligibility may differ from one candidate to another. You can also use free-of-cost business loan RBL Bank loan eligibility calculator at Loanbaba.com. The eligibility criteria for loan for business are discussed below:

Types of RBL Bank Business Loans

RBL Bank has business loan schemes for all kinds of professionals. The amount taken as loan can be used for either multiple or specific purposes.

1. RBL Business Loan (Standard Scheme)

This is a perfect loan for short-term financing of 12 months to 36 months. You can borrow between Rs. 10 lakhs and Rs. 35 lakhs. No collateral is needed to avail this loan.

2. Unsecured Small Business Loan

Let your micro enterprise scale new heights with funds from the RBL Bank. The loan is collateral free. You can borrow up to Rs. 10 lakhs on 12 months to 36 months tenure. The bank offers quick and simplified process for the loan at attractive interest rates.

3. Secured Small Business Loan

You can apply for a secured small business loan by submitting relevant collateral to RBL. The funds can be used to meet requirement of working capital, repairs, renovations of existing business unit, purchase of equipment or machineries, etc.

Repayment of RBL Bank Business Loan

You can repay the loan in the following ways:

Why Apply for RBL Bank Business Loan on Loanbaba.com?

At Loanbaba, you can compare and apply for business loans online. You can check out several small business loan schemes by RBL Bank and go through all their features such as quantum of loan, amount of loan, processing fees, interest rates, and other conditions, at one page. You can also quickly apply for RBL Bank Business Loan online on our website without having to visit the branch. It is simple and easy, and you can upload all the required documents online. Disbursal is done at the soonest, and you can keep a track of your loan application on the website.

How to Apply for RBL Business Loan on Loanbaba?

You can apply for business loan RBL Bank or any other bank/NBFC business loan at Loanbaba.com within a few clicks.

Frequently Asked Questions about RBL Bank Business Loans

Here are the RBL Bank Business Loans FAQs.

1. What are the RBL Bank Business Loans limits?

On the basis of applicant's credit worthiness, documents' validity and securities' value, the bank can offer loan that can range from ten lakh to thirty five lakh rupees.

2. What are the age criteria for business loan RBL Bank?

The minimum age of the applicant must be 27 years at the time of sanctioning of the loan and maximum 65 years when the loan is matured.

3. What is the Documentation required for RBL Business Loan?

You will require PAN Card if you fall in the category of Individuals, Companies and Partnership Firms. You will also need Proof of Identity- Driving License, Voter ID, or Aadhaar Card or Passport.

4. What Are the Fees and Charges for the loan?

Below-mentioned are the charges for RBL loan for business.

Charges for late EMI payment 2% additional interest per month
Charges for Cheque Swapping Rs.250
Charges for Cheque Bounce Rs.250
CIBIL Report Charges Rs.50

5. What is the Required Credit Score?

To qualify for the loan, you must have CIBIL score at least 700+ or 750+. Your credit history will be scrutinized to know how regular you have been with repayments, to understand your financial track record.

6. What Affects the RBL Business Loan Interest Rates?

Below-mentioned are factors that influence the business loan interest rates RBL:

  • Track record of the business
  • Type of business: Partnership, proprietorship, closely-held public limited company, or a private limited company
  • Business turnover
  • Profit generated by the business
  • Business cash flow
  • Age of the applicant
  • Credit score of the applicant and the company
  • Repayment capacity of the applicant

7. Are There Loans against Mortgage Property?

Business Loans of up to Rs. 10 Crores could be provided by the RBL against mortgage of property.

8. How to Boost Eligibility for RBL Business Loan?

To increase RBL business loan eligibility for yourself, maintain a positive net worth and a strong credit score, for self, and the business. Have a lower financial liability, like fewer ongoing loans, etc. Do not apply for several loans at a time, and keep a record of all the required audited documents for faster processing of the loan.

Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of RBL Bank.