RBL Bank Personal Loan Interest Rates

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.

Interest rates on personal loan by RBL Bank as per 2017:

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

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