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  • Ratnakar Personal Loan Eligibility is Rated as "Excellent!" by 38 Users

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    Ratnakar Personal Loan Eligibility

    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.

    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 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? 4
      , 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
    • RBL Bank Personal Loan
      "Interest rate to be better"
      0.5 4.5/5 "Excellent!"
      I am running a personal loan with RBL Bank. It was taken last year. They offered a personal loan on time. The customer service was not good, they need to improve the service. The rate of interest was very high. I make the payment through ECS. The pre closure option is good.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Dec 20, 2017
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