Multiple banks. Different interest rates. Call it a "conflict of interest".
  • RBL (Ratnakar) Bank Loan against Property is Rated as "Excellent!" by 39 Users

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    Personal Loan BYTES FROM OUR KITCHEN

    RBL (Ratnakar) Bank Loan against Property

    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
      "Need to reduce charges"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan with RBL and my experience was average, the loan amount was based on my requirement and the rate of interest was quite high when compared to other banks. Customer support was not up to the mark and their response was delayed. Tenure period for this loan is 4 years.
      Was this review helpful? 4
      , faridabad
      Reviewed on Jan 02, 2019
    • RBL Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with RBL BANK , the tenure period 2 year . The application process was easy and the loan amount was credited with in 3-4 days. The interest rate was nominal when comparing to other banks. I use to pay EMI on time and service was good .
      Was this review helpful? 0
      , gurgaon
      Reviewed on Dec 11, 2018
    • RBL Bank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      My experience with RBL for personal loan was good, the loan amount was sufficient and the rate of interest was high when compared to other banks. Customer service was good and they responded on time. The tenure period for this loan is for 3 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 04, 2018
    • RBL Bank Personal Loan
      "Good personal loan"
      0.5 5.0/5 "Blown Away!"
      I have got the personal loan with RBL bank. Interest rates are little bit higher when i compared with other banks but i have no issues. I am happy about the processing fee. I have chosen the tenure period of 60 months. I have received the loan on time. Documentation process was fine.
      Was this review helpful? 0
      , mumbai
      Reviewed on Dec 02, 2018
    • RBL Bank Personal Loan
      "Good but processing fee has to be reduced"
      0.5 5.0/5 "Blown Away!"
      I am running a personal loan with RBL and the interest rate is 11% which am satisfied. The customer service is average. The loan duration is 3 years and I have completed only 2 months. The processing fee is very high. I need to pay the installment of 4500 rupees but am paying above 5K through online.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Dec 01, 2018
    • RBL Bank Personal Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I have applied for the personal loan with the RATNAKAR BANK and they have offered with the 3lakhs but i have opted for the one lakhs rupees. The rate of interest for this loan is nominal than others when compared added on that the duration to repay the loan is for 3 years.
      Was this review helpful? 0
      , surat
      Reviewed on Nov 24, 2018
    • RBL Bank Personal Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I have applied for the RATNAKAR BANK personal loan where the process of getting the personal loan is very quick ans i got within 72 hours the loan amount. The loan amount is sufficient also the rate of interest is 10.99% for this loan. The duration to repay this loan is 3 years.
      Was this review helpful? 1
      , new delhi
      Reviewed on Nov 24, 2018
    • RBL Bank Personal Loan
      "Fastest Service"
      0.5 4.0/5 "Great!"
      I took personal loan with RBL, the interest rate is high but equal to other banks, the process was fast. I have pre approved loan based on the credit card, they taken some processing fee around 3000 for the amount of Rs.1 .20 lakh, they are fastest people, who lend me the money.
      Was this review helpful? 2
      , new delhi
      Reviewed on Nov 20, 2018
    • RBL Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I even applied for personal loan from RBL bank its good service they provide me they render me satisfied principal amount and promising rate of interest is also provided, overall service is good.
      Was this review helpful? 1
      , chennai
      Reviewed on Oct 30, 2018
    • RBL Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The overall experience i had in getting this loan has been good where the process in getting the loan had been simple. The loan amount which they had provided has been satisfactory and the interest rate with them has been nominal when compared with the market rate. There has not been any sort of additional charges which they had made.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 26, 2018
    • RBL Bank Personal Loan
      "excellent"
      0.5 5.0/5 "Blown Away!"
      My personal loan experience is very good with RBL bank and even they have provided sufficient loan amount to me . Rate of interest is 18% which is up to the mark and tenure period is 3 years . Customer service is good and documents were collected on time . I use to pay EMI 1044 and processing fee is 3500 . There is no preclosere option .
      Was this review helpful? 4
      , hyderabad
      Reviewed on Aug 19, 2018
    • RBL Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've taken a personal loan from the Ratnakar Bank Limited for 50000, the interest rate was nominal 13-14% and it was an insta loan. It has been a pleasant personal loan experience with the Ratnakar bank.
      Was this review helpful? 3
      , vadodara
      Reviewed on Aug 16, 2018
    • RBL Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a loan with RBI BANK and my loan experience is pretty good. My loan amount is 300000 and interest rate is is nominal. There are no hidden charges. I use to pay 11000 as EMI per month and tenure period is 3years. Processing fee is nominal.The process was so smooth at the time of documentation, i did not face any problems.
      Was this review helpful? 1
      , bangalore
      Reviewed on Aug 10, 2018
    • RBL Bank Personal Loan
      "Average Service"
      0.5 4.0/5 "Great!"
      I took a personal loan from the RBL bank 1.10 lacs for three years, the application was really easy. I got the loan with in 3 days. I applied for the loan via the Mobile App and the interest rate was also high. Overall it has been an average service.
      Was this review helpful? 2
      , kolkata
      Reviewed on Jul 05, 2018
    • RBL Bank Personal Loan
      "Average card"
      0.5 2.5/5 "Just OK"
      The processing fee and interest is high when i compared other banks. The EMI conversion charges are high in RBL bank. It is 4% for every EMI conversion. The are charging the interest rate and processing its depends on the tenure period what i choose. I will not recommend this bank for Credit card to anyone. I have been using this card for last 1 year. I cannot talk to the customer care. The number is not reachable most of the times.
      Was this review helpful? 1
      , thane
      Reviewed on Jun 22, 2018
    • RBL Bank Personal Loan
      "Bad Experience with RBL"
      0.5 1.0/5 "Really Bad"
      I took the Personal in RBL bank. I went to the bank directly to pre-close the loan there is no proper response from the people who is working over there. It is been 1 month till i closed the loan but Still i dint get my loan closure certificate. Very poor services. There is a good customer care but things not done by them whatever i expect from them.
      Was this review helpful? 5
      , coimbatore
      Reviewed on Jun 06, 2018
    • RBL Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The personal loan process was good with the RBL. I have got the loan amount within 20days of time. The customer support service and the response is good with the RBL and they give better service to the customer. The rate of interest and the charges were pretty high with the RBL personal loan .
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 31, 2018
    • RBL Bank Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with RBL and my loan experience was good, the loan amount was for Rs 2 lakhs with nominal interest rate when compared to other banks. Customer service was good and they collected documents on time. The tenure period for this loan is for 2 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 25, 2018
    • RBL Bank Personal Loan
      "Average service"
      0.5 5.0/5 "Blown Away!"
      Got the personal loan from the RBL around 4 months ago. The customer support service and the response is good with the RBL and they have delivered the loan amount with in a month time. They have offered me the loan amount of Rs,1,65,000 but I have applied for the loan amount of Rs,6,00,000 .
      Was this review helpful? 2
      , bangalore
      Reviewed on Apr 23, 2018
    • RBL Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken personal loan with RBL and it was a good loan experience. The loan amount was for Rs 1 lakh with the rate of interest which is high when compared to all other banks. The process was smooth and i received my loan amount within 1 week. Customer service was good and they collected documents on time. The tenure of this loan is 3 years and it was overall a good service from RBL.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 17, 2018
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