RBL Bank Personal Loan

Previously called Ratnakar Bank Limited, RBL offers personal loans to salaried individuals at cheaper cost (interest rate). Bank processes this loan quite fast and the customer is free to appropriate funds in any manner he/ she wants to do. There can be numerous reasons for availing a personal loan like marriage, hospital expenses, holidays, educational expenses, etc. RBL features minimal documentation with least turn-around time for disbursement of personal loans to salaried employees.

The interest rates charged by the bank are competitive and as per MCLR system introduced by RBI from April 1, 2016. Get to know more about personal loan in RBL Bank at our website. We also provide RBL Bank EMI calculator and RBL Bank personal loan eligibility calculator to use, free-of-cost.

Features of RBL Bank Personal Loan

Salaried individuals can feel free to apply personal loan from RBL Bank. The features of RBL personal loan are discussed below:

  • Loan amount between Rs. 1 lakh and Rs. 20 lakh can be availed.
  • The repayment period of the loan can be extended up to 60 months which makes it convenient for the public to repay the loan.
  • Personal loans interest rates in RBL bank are low.
  • Bank does not ask for any guarantee or collateral security.
  • The processing of loan is quite easy and quick.
  • Bank charges an interest rate ranging from 15.50% to 23.00% p.a. compounded monthly, on reducing basis.
  • To avail more amount of loan, income of spouse can be clubbed with self to increase eligibility.
Why Personal Loan RBL Bank?
  • Bank offers its customers speedy delivery of sanction letter with affordable interest rates.
  • Low processing fees of up to 2.5% of the amount borrowed.
  • No need to worry for any guarantee for getting the loan sanctioned.
  • Bank won’t ask about appropriation of funds. You are free to use funds as you desire to.
  • Option of making spouse co-borrower, so that eligibility is enhanced.
  • Easy repayment through ECS, auto debit and advance cheque; which can be spread over to 5 years.

If you want RBL Personal Loan, you can apply for it at loanbaba.com, where you get to compare loans from several banks and NBFCs. Check current bank interest today and your loan eligibility, to apply with suitable financial institute for unsecured personal loan in India.