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  • RBL (Ratnakar) Bank Loan against Property is Rated as "Excellent!" by 15 Users

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    RBL (Ratnakar) Bank Loan against Property

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    RBL Bank provides secured loans that are ideally aimed to provide financial aid towards personal or business needs by utilising the value of an owned property.

    Where can RBL Bank Loan against Property be used?

    This secured loan is provided to salaried and self-employed individuals alike on properties that are commercial or residential. The loan thus availed can be used for personal or business needs for any term (subject to the repayment period)

    Who can apply for RBL Bank Loan against Property?

    A secured loan, this business loan has a few eligibility criteria to be met in order for the bank to be able to sanction the loan. The eligibility requirements can be mentioned as follows:

    1. Applicants can be individuals, professionals, sole proprietorships, partnership firms and private limited companies (including closely-held public limited companies) but compulsorily Indian residents

    2. Applicants should be at least 23 years of age when the loan is sanctioned and at most 60 years (salaried) or 65 years (self-employed) of age at the time of loan maturity

    3. The minimum gross salary or net profit per financial year should be INR 150000

    4. Co-applicants are mandatorily required

    What are the types of Financing under RBL Bank Loan against Property?

    Loan against Property from RBL Bank is a specific term loan with repayment period of up to 15 years.

    What are the loan limits?

    Based on the credit-worthiness of the applicant, validity of documents and value of the property, RBL Bank can provide loans up to INR 10 crores.

    What are the interest rates of RBL Loan against Property?

    Interest rates for a Loan against Property could depend on the bank’s base rate (10.65% per annum) and be anything less or more than the prime lending rate (16.25% per annum). Changes to the rates are based on RBL Bank’s discretion. The mentioned rates are as per November 2015.

    What documents are required during applying for RBL Loan against Property?

    The standard list of required documents for applying for this loan are mentioned as follows –

    1. PAN Card :For Individual, Partnership Firm, Company

    2. Identity Proof : Either of Voter ID, Driving License, Passport or Aadhaar Card

    3. Address Proof :Either of Voter ID, Driving License, Passport, Telephone Bill, Electricity Bill, Registered Lease Deed or Sale Agreement or Bank Statement

    4. Ownership proof of either residence or office either in the name of applicant or jointly with family members

    5. Business Continuity Proof – Any one of the mentioned documents dated 5 years old (Bank Statement, Sales Tax Challans, IT Returns, Shops & Establishment Certificate, Certificate of Incorporation, Partnership Deed)

    6. Letter certifying end use of the business loan funds on official business letterhead

    7. Passport Size Photographs of all applicants and co-applicants

    Financial documents required while applying for the loan will include and might not be limited to -

    1. Latest audited ITR and financials for the last 2 years or latest 3 month salary slip or latest Form 16

    2. Bank statements from the main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet (For salaried, 6 months’ credit of salary should be reflected in the bank statements)

    3. Partnership Deed and partnership authority letter for partnership firms

    4. Memorandum and Articles of Association and Board Resolution from the company

    5. Certificate of Incorporation (COI) for companies

    6. Latest shareholding patterns for companies

    What are the features of RBL Bank Loan against Property?

    The Loan against Property from RBL Bank is an unsecured loan that requires no guarantors or collaterals and is a really good financing option for urgent financial needs on business grounds.

    Some key features of this specialised loan are as follows

    1. Loan tenure or repayment period can be as high as 180 months

    2. Minimal documentation and faster approval

    3. Commercial as well as residential property accepted as collateral

    4. Fixed interest rate for the first 3 years

    5. High loan amounts up to INR 10 crores

    How to apply for RBL Bank Loan against Property?

    The loan can be applied for through RBL Bank’s website, as well as forms can be downloaded, filled and submitted along with relevant documents at a local branch. Additionally, one could call or mail RBL Bank requesting an executive assistance for application process.

    One can also apply for RBL Bank Loan against Property through BankBazaar, wherein eligibility charts, EMI calculators and infographics can guide one through the application process.

    RBL Bank Loan against Property Reviews

    • RBL Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have applied for a personal loan with RATNAKAR bank. They collected the documents on the same day and within few days my personal loan got approved and disbursed my funds. They offered me the loan with 14% as rate of interest and there are no processing fees.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 18, 2017
    • RBL Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I am having the personal loan with the RBL bank and the loan amount got disbursed within four to five days of time. I would like to say that the response is good one with them and I dont have any issues on it.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 10, 2017
    • RBL Bank Personal Loan
      "Fantastic service"
      0.5 5.0/5 "Blown Away!"
      I had taken a personal loan from Royal Bank of London,the loan amount is 4 lakhs rate of interest is 13% nominal like other banks.they took one week to complete the process.Tenure is 4 years.Executives has responded on time and very happy with the service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 02, 2017
    • RBL Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      The Ratnakar Bank has disbursed my personal loan within 5 days of time, they have processed my loan without any documentation because I got the loan via on my credit card bases. The customer service is good with RBL.The rate of interest is nominal when compared with others.
      Was this review helpful? 0
      , mumbai
      Reviewed on Aug 30, 2017
    • RBL Bank Personal Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      RBL takes immediate action to approve the personal loan, totally they had taken around 3 to 4 days to disburse the amount. I got a call from them, then I have submitted the documents to the bank, they processed my loan immediately with a good interest rate.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 08, 2017
    • RBL Bank Personal Loan
      "Interest rate should be reduced"
      0.5 3.0/5 "Satisfactory"
      RBL executive have called me for the personal loan, then they came and collected the documents expect the bank statement, I have to sent it to their mail id. Loan process got delay they have more three weeks to sanction the loan. RBL offered me the interest rate 21% for one lakh it is very high compared to other banks.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 21, 2017
    • RBL Bank Personal Loan
      "Quick in process"
      0.5 5.0/5 "Blown Away!"
      I had taken my personal loan from RBL and the process was excellent. I got the loan as required and the documentation was normal and the disbursement happened on time as well. The bank had a good deal on the interest rate and processing charges.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 25, 2017
    • RBL Bank Personal Loan
      "Best employer offer"
      0.5 4.5/5 "Excellent!"
      I had taken personal loan during the year 2015 march from Ratnakar Bank, Still my loan is on-going . I didn't face any issue with them. My loan amount is Rs.2 lakhs with an interest rate of 13.5% also there was no processing fee charged for the same. Ratnakar Bank offered me a part payment and preclosure options were with them with a zero offer.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 12, 2017
    • RBL Bank Personal Loan
      "Don't take loan from cheats"
      0.5 0.5/5 "Unacceptable"
      Third class bank third class services lots of hidden charges they are deducting every month third class representative nobody takes responsibility to answer your questions. Minus infinity rating don't even think to take loan from this third class bank.
      Was this review helpful? 0
      , pune
      Reviewed on Mar 31, 2017
    • RBL Bank Personal Loan
      "Good Services"
      0.5 4.0/5 "Great!"
      I had applied for a personal loan with Ratnakar Bank. The services was good. The response is good too. They contacted me on time. But the loan could not be processed due to the banking norms. The rate of interest was average. Not sure on the processing charges.
      Was this review helpful? 2
      , chennai
      Reviewed on Mar 17, 2016
    • RBL Bank Personal Loan
      "Good experience "
      0.5 5.0/5 "Blown Away!"
      The service provided by Ratnakar bank was really good based on the personal loan application being submitted.I am very happy with the service provided by ratnakar.They are able to complete the loan process within a weeks time.They have applied charges around 2% for the processing.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Feb 11, 2016
    • RBL Bank Personal Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      Ratnakar bank was good in their services for my personal loan. In the initial stage of the process they informed me that their bank is new at Nagpur and will take a little time as the approval has to come from their Mumbai office. I was happy about that. They also offered me a pleasing rate of interest. The processing charges was normal.
      Was this review helpful? 1
      , nagpur
      Reviewed on Oct 05, 2015
    • RBL Bank Personal Loan
      "Excellent Services"
      0.5 4.0/5 "Great!"
      My personal loan is from Ratnakar Bank. The services was good. They responded very well. They initially told me that the rate of interest is of 17%. Later they informed me it is of 18.5%. I negotiated with them and finally got a interest rate of 17%. The processing charges was reasonable. It was of 3500.
      Was this review helpful? 2
      , chennai
      Reviewed on Sep 18, 2015
    • RBL Bank Personal Loan
      "Average"
      0.5 4.0/5 "Great!"
      I have taken my loan from Ratnakar bank. The services has been good. They kept me informed about all the details before I received the loan. The rate of interest was a bit high and also their processing charges are high compared to HDFC Bank. But am happy that I was informed all the details required before I took the loan.
      Was this review helpful? 4
      , chennai
      Reviewed on Jul 31, 2015
    • RBL Bank Personal Loan
      "Satisfied but interest is high.."
      0.5 4.0/5 "Great!"
      Interest rate for personal loan was very high because I got for 18%. I have availed the loan because I had a need or for this rate I would not have opted. Response of Ratnakar bank was very fast as got instant call from the executives. Charges are also somewhat high.
      Was this review helpful? 3
      , bangalore
      Reviewed on Jul 17, 2015
    • RBL Bank Personal Loan
      "Average service "
      0.5 4.0/5 "Great!"
      I would say it was a average experience with RATNAKAR BANK while getting this personal loan.The customer service provided was good and the interest rate offered was also average rate.They required more documents for processing this loan and the loan amount was disbursed within 15days of time.
      Was this review helpful? 9
      , bangalore
      Reviewed on Jun 04, 2015
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