Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • Ratnakar Personal Loan Eligibility Calculator is Rated as "Great!" by 13 Users

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    Ratnakar Personal Loan Eligibility Calculator

    Overview about RBL Bank Personal Loan

    RBL Bank is one of India’s fastest growing scheduled commercial banks. It has been rated as the best bank in the growth in the mid-sized bank segment as per Business Today and KPMG study.

    Perfect Personal Loan Deals for you

    Ratnakar Bank offers personal loans to salaried resident individuals to meet their immediate financial requirement. The loan amount starts from Rs.1 lakh and goes up to Rs.20 lakhs. The borrower can easily repay the loan in the span of 12 to 60 months. No collateral is required to avail the loan. It requires simple documentation and the disbursal procedure is hassle free. RBL Bank offers attractive interest rates on the personal loan as well.

    RBL Bank Personal Loan Eligibility

    To avail personal loan from RBL Bank, the applicant:

    • Must be salaried and earning a minimum monthly net income of Rs.25,000 per month.
    • His minimum age while sanctioning the loan must be 25 years.
    • His maximum age at loan maturity must be either 60 years or the retirement age, whichever is lower.
    • He must have work experience of minimum 1 year at the current place of employment and a total of 3 years of work experience.

    Factors affecting RBL Bank Personal Loan Eligibility

    There are various factors that affect the eligibility criteria while taking a personal loan from RBL Bank.

    • The borrower needs to have a minimum net monthly income of Rs.25,000 per month.
    • The area of residence also plays an important role in deciding if the applicant is eligible. If he lives in a metro city, his chances of getting a loan sanctioned is higher.
    • The maximum loan allowed is only Rs.20 lakhs.
    • The bank also checks if you have any other EMIs to pay off.
    • CIBIL Score also affects the eligibility. The borrower must have at least 750 score and a healthy credit history.
    • RBL bank prefers applicants above the age of 25 years.

    How CIBIL score affects your RBL Bank Personal Loan Eligibility?

    CIBIL TransUnion Score plays an important role in the loan application process. After the applicant has applied for the loan with RBL Bank, the bank will check the credit score and credit report of the applicant.

    If the credit score is low, RBL Bank will not even consider the application and will then reject it. If the applicant’s credit score is high, then RBL Bank will look into the credit report and check for the repayment history and the closed credit and the mix of the secured and unsecured type of loan.

    RBL Bank will also check if there has been any further remarks on your credit report and check if you have settled any credit. If you have settled any credit, then that information stays on your report for 6 years and the Bank will be hesitant to offer you a loan as then you will not be good for it or they might offer you a secured loan or an unsecured loan with a high interest rate.

    How to increase RBL Bank Personal Loan Eligibility?

    To increase the personal loan eligibility, you could do the following:

    • Start by paying off your credit card bills if you have any.
    • Do not default on any payments.
    • Choose a longer loan tenure on your current loans, so that the EMI is lower and it will be affordable and you will not default on paying the instalment.
    • If you have existing loans, then make sure that you are not missing out on any of the EMIs.
    • If you have limited number of EMIs left on your existing loans, then pre-pay it.
    • Do not go overboard on taking a loan. Take a loan for the amount that is required.
    • If you have a credit card, then do not utilise all the credit on it and make sure you use the credit that you can afford to repay.
    • Have both secured and unsecured credit.
    • Do not apply for a loan at multiple banks as the banks will run a credit check and it will be recorded in the credit history and it affects the CIBIL Score as well.

    FAQs on RBL Bank Personal Loan Eligibility

    Q. Is there a minimum age requirement to avail the personal loan from RBL Bank?

    A. Yes, the borrower must be 25 years of age at the time of sanctioning the loan.

    Q. Is there an employment experience requirement to get a personal loan from RBL Bank?

    A. Yes, the applicant must have a minimum 1 year experience at the place of his current employment and a 3 years’ experience in total.

    Q. Should I have a minimum monthly income?

    A. Yes, the minimum net monthly income must be Rs.25,000.

    Q. Should I provide any collateral to avail the loan?

    A. No, you need not provide a collateral to avail personal loan at RBL Bank.

    Q. What is the minimum and maximum loan amount sanctioned for RBL Bank Personal Loans?

    A. The minimum loan amount sanctioned is Rs.1 lakh and the maximum loan amount that can be sanctioned towards personal loan is Rs.20 lakhs.

    Personal Loan Reviews

    • 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
      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
      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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