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  • Ratnakar Personal Loan Eligibility Calculator is Rated as "Great!" by 27 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!"
      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? 1
      , 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? 3
      , 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? 0
      , 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
    • RBL Bank Personal Loan
      "Not satisfied with the customer service"
      0.5 1.0/5 "Really Bad"
      From RATNAKAR BANK i have taken a personal loan and the rate of interest is 13%. I have taken this loan to close my another loan with AXIS. Its was a balance transfer. The documentation was minimal. Customer service is not good after the loan process no one contacted me.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 07, 2017
    • RBL Bank Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      From RATNAKAR BANK i have taken a personal loan of 5 lakhs. The approved rate of interest was 15.5%. The monthly EMI is 16891 for a tenure for 3 to 4 years.After the approval of loan no one from the bank end contacted me. If i had any clarification also the customer service doesn't provide any proper response.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 07, 2017
    • RBL Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have applied for a personal loan with RATNAKAR bank. They collected the documents on the same day and within few days my personal loan got approved and disbursed my funds. They offered me the loan with 14% as rate of interest and there are no processing fees.
      Was this review helpful? 2
      , mumbai
      Reviewed on Nov 18, 2017
    • RBL Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I am having the personal loan with the RBL bank and the loan amount got disbursed within four to five days of time. I would like to say that the response is good one with them and I dont have any issues on it.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 10, 2017
    • RBL Bank Personal Loan
      "Fantastic service"
      0.5 5.0/5 "Blown Away!"
      I had taken a personal loan from Royal Bank of London,the loan amount is 4 lakhs rate of interest is 13% nominal like other banks.they took one week to complete the process.Tenure is 4 years.Executives has responded on time and very happy with the service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 02, 2017
    • 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? 1
      , 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? 1
      , 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? 1
      , pune
      Reviewed on Mar 31, 2017
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