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  • Ratnakar Personal Loan Eligibility

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  • RBL Bank offers personal loans between Rs.1 lakh and Rs.20 lakh to salaried individuals over the age of 25 years. The applicant should have a total work experience of 3 years and should have served their current employer for 1 year. To be eligible to apply for this loan, you should earn a minimum net monthly income of Rs.25,000.

    RBL Bank Personal Loan Eligibility Criteria

    RBL Bank offers personal loans at competitive interest rates for loan tenures ranging between 12 months and 60 months. You will only be able to borrow a personal loan from the lender if you fulfill the eligibility criteria given below:

    Criteria Salaried
    Income Rs.25,000 or above
    Age 25 years
    Employment Status Should be a salaried employee
    Work experience 3 years of total work experience and 1 year with the current employer
    CIBIL Score Ideal score – Over 700

    Factors Affecting RBL Bank Personal Loan Eligibility

    • Age: RBL Bank offers personal loans to individuals who are above the age of 25 years. Individuals under 25 years of age are not offered loans since they pose more of a risk to the lender in terms of repayments. Applicants who are over 60 years of age cannot apply for personal loans, as well.
    • Income: RBL Bank offers personal loans to individuals who earn a minimum monthly income of Rs.25,000. Those who earn lesser than this will not be eligible to borrow loans from RBL Bank. If you earn a good income, the lender will allow you to borrow a higher loan amount.
    • Employment Status: RBL Bank only allows salaried individuals to borrow personal loans. This is due to the fact that salaried employees earn a steady income on a monthly basis, thus reducing the chances of them defaulting on loan repayments.
    • Work Experience: To borrow a personal loan, you should have a minimum work experience of at least 3 years. You should also have served your current organization for 1 year. Having a steady work experience indicates that you are financially stable, thus helping you borrow a high loan amount from the lender.
    • CIBIL Score: Individuals who wish to borrow loans at reasonable interest rates should have a good credit score. Ideally, you should try to maintain a credit score of at least 700.
    • Outstanding Liabilities: If you have other financial liabilities, you may not be eligible to borrow much from the lender since your repayment capacity will go down.

    How to Improve Your Chances of Getting an RBL Bank Personal Loan?

    • Check if You Meet the Lender’s Eligibility Criteria: You will only be able to borrow a personal loan from RBL Bank if you meet the pre-specified eligibility criteria. Thus, it is best to check the eligibility criteria before you submit your application to the lender.
    • Wait Until You Earn a Higher Salary: If you are looking to borrow a high loan amount, it is best to wait until your salary also increases. Therefore, if it is possible, you should check if you can put off taking a personal loan until you earn a better income.
    • Avoid Submitting Multiple Loan Applications: If you submit multiple personal loan applications at the same time, your CIBIL score may reduce. Hence, it is advisable to compare the features, benefits, and particulars of multiple loans and apply to a suitable lender accordingly.
    • Don’t Borrow a High Loan Amount: If you apply for a high loan amount, there is a chance that the lender will reject your personal loan application if your repayment capacity is low. Thus, ensure that you keep this in mind when opting for the loan amount.

    RBL Bank Personal Loan Details

    Interest Rate? 14.5% - 23% p.a.
    Loan Amount? Rs.1 lakh to Rs.20 lakh
    Loan Tenure? 12 months to 60 months
    Processing Fee? As per the lender’s terms and conditions


    1. What are the documents that I will need to submit to borrow a personal loan from RBL Bank?
      • PAN card
      • ID proof
      • Address proof
      • Relationship proof
      • Passport-size photographs
      • Salary account statements
      • Payslips
      • Form 16
      • Income documents of the salaried spouse (if clubbing incomes)
    2. Do I have to submit any collateral to be eligible to apply for a personal loan from RBL Bank?
    3. No, you need not submit any collateral to avail a personal loan from the lender.

    4. Can pensioners apply for a personal loan from RBL Bank?
    5. No, only salaried employees are eligible to apply for personal loans.

    6. Can I apply for RBL Bank’s personal loan online?
    7. Yes, the lender allows online applications.

    8. How many days does RBL Bank take to disburse the loan amount?
    9. The lender offers a hassle-free loan approval and disbursal procedure. Ensure that you submit the relevant documents to the lender to hasten the process.


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