RBL Bank Personal Loan Interest Rate

Preliminary Information

Loan Details

Personal Details

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RBL Bank Personal Loan Interest Rates (May 2020)

Particulars Salaried Self-employed
Rate of Interest 14.5% to 23% on a yearly basis 14.5% to 23% on a yearly basis
Loan Amount Max: Rs.20 lakhs

Min: Rs.1 lakh

Max: Rs.35 lakhs
Min: Rs.10 lakhs
Loan term Min: 1 year
Max: 5 years
Min: 1 year
Max: 3 years
EMI (Lowest)

Rs.2353/- monthly (applicable for the maximum tenure of the lowest loan amount)

Rs.34421 monthly (applicable for the maximum tenure of the lowest loan amount)

Processing charges Minimum of Rs.7500/- depending on 1.5% of the loan amount. Moreover, Rs.5000/- which will be non-refundable has to be paid upfront and the remaining amount at the time of disbursal.

Minimum of Rs.7500/- depending on 1.5% of the loan amount. Moreover, Rs.5000/- which will be non-refundable has to be paid upfront and the remaining amount at the time of disbursal.

Age Minimum: 25 years. 
Maximum: Less than 60
Minimum: 27 years

Maximum: 65 years

Prepayment fees No charges applied 15% and below of the outstanding principal amount in 1 year: No charges applied. 


15% and above of outstanding principal amount: 2% of amount paid + applied GST

Foreclosure fees No charges applied 3% on outstanding principal amount + applied GST

For the period between 2011 and 2015, the interest rates for personal loan have been gradually fluctuating. That is, 8.5% was the rate of interest in 2011 and by the end of the year, it raised to 11%. On the other hand, with a 0.10% temporal drop, the interest rate fluctuated in the year 2013. Moreover, with RBI coming into the play, the decrease in the repo rate resulted in decrease in the interest rate to 10.85% as of May, 2015.

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