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 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:
|Income||Rs.25,000 or above|
|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|
|Interest Rate||14% - 23% p.a.|
|Loan Amount||Rs.1 lakh to Rs.20 lakh|
|Loan Tenure||12 months to 60 months|
|Processing Fee||4% of the loan amount + GST|
RBL Bank offers the EMI calculator facility to its customers. You can use this facility to check the EMIs you will have to pay based on the loan amount you wish to avail, the repayment tenure, and the rate of interest levied. We will list down the steps through which you can use this facility and check the EMI payable on a monthly basis:
You can also visit the BankBazaar website and use the Personal Loan EMI Calculator to check the EMI you will have to pay on a monthly basis.
No, you need not submit any collateral to avail a personal loan from the lender.
No, only salaried employees are eligible to apply for personal loans.
Yes, the lender allows online applications.
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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