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RBL Bank New Home Loans are a perfect solution to fulfil your dream home requirement. With RBL Bank at your service, you can focus on living a comfortable life while we take care of financing your liquidity needs. RBL Bank Home Loan can be availed by Salaried Individuals, Self-Employed Individuals and Self-Employed Professionals with minimal documentation and faster approvals. Easy Home Loan available wherein you can save interest by maintaining balance in a linked account. To know more, follow some simple steps given below to get best interest rates
At least 24 years old
Less than 60 years old
Salaried or self-employed
with regular income
Earn more than the minimum income required
Minimum net income of Rs. 120,000 per annum
Loan capped @ 60% to 80% of property value
EMIs of other loans lower
Make your spouse a co-applicant,
and her income will add
to your eligibility
Choose longer tenure loan up to 25 years
Alternatively add your parents
|Interest Rate||10.20% to 11.55%|
|Processing Fees||Rs.5000 to Rs.15000 + Service Tax|
|Loan Tenure||25 years|
Owning a house is everyone’s dream, but not all of us can afford to buy it with financial backing. Home loans are the easiest way for an individual to own a house in these days of real estate boom. RBL Bank’s housing finance products aim to assist customers towards realizing their dream of owning a house. The bank offers loans with easy and fast approval and processing. Two kinds of housing loans are offered by RBL Bank: Normal Home Loan and Easy Home Loan.
Given below are the key features of housing finance offered by RBL Bank:
RBL’s housing loan is available only to Indian residents. Salaried persons as well as self-employed businesspersons and professionals can take home loan from RBL Bank.
|Salaried persons||Self-employed persons|
|Minimum age||24 years||24 years|
|Maximum age at loan maturity||60 years or superannuation, whichever is sooner||65 years|
|Minimum income||Rs 1.2 lakh||Rs. 1.5 lakh|
Salaried persons need to have at least 1 year experience in the current job and a total of 2 years of work experience. If you have been in your current job for less than a year, then the total work experience required will be 3 years. Businesspersons and professionals need to have at least 3 years of business continuity in the same field to avail RBL Bank home loans.
The following documents are mandatory for quick approval of housing finance by the bank:
The interest rates for housing loan products of the bank are as follows:
|Loan amount||Interest Rate|
|Up to Rs.25 lakh||10.4% (1 year MCLR)|
|Rs.25 lakh to Rs.75 lakh||11.65% (MCLR + 1.25%)|
|More than Rs.75 lakh||11.65% (MCLR + 1.25%)|
|Fixed rate loan for 3 years||13.5%|
|Easy Home Loan: up to Rs.25 lakh||10.9% (MCLR + 0.5%)|
|Easy Home Loan: Rs.25 lakh to Rs.75 lakh||12.15% (MCLR + 1.75%)|
|Easy Home Loan: More than Rs.75 lakh||12.15% (MCLR + 1.75%)|
MCLR announced by RBL Bank on June 22, 2016 as follows:
No. The bank offers housing loans only for buying residential property, whether old, new or under construction.
Yes. The bank’s Home Loan Balance Transfer plan allows you to transfer your loan from another bank to RBL. You can also get top-up on the loan amount transferred.
You can get up to 90% financing for loan requests of less than Rs. 20 lakh, 80% for Rs. 20 lakh to Rs. 75 lakh, and 75% for loans greater than Rs. 75 lakh.
Yes, you can club your incomes and apply for a joint loan. Up to 3 individuals can take a loan together. You can apply together even if one of you is salaried and others are self-employed. Joint applications are allowed mainly when the applicants are directly related to each other or are partners in a firm or company.