RBL Bank Used Car Loan 2026

RBL Bank offers the pre-owned car loan facility at attractive interest rates. The process to apply for the loan is simple and can be completed either offline or online. 

Animated CTA

Features and Benefits of RBL Bank’s Pre-Owned Car Loan

The main features and benefits of the used car loan offered by RBL Bank are mentioned below: 

  1. The sanction process is quick and easy. 
  1. The documentation process is hassle-free. 
  1. Door-step service is provided. 
  1. Loans are offered at attractive interest rates. 
  1. Customised schemes are provided. 
  1. Up to Rs.30 lakh may be provided as a loan.

How to Apply for an RBL Bank Pre-Owned Car Loan?

Offline 

You can visit the nearest RBL Bank and submit the necessary documents to apply for the used car loan. 

Online 

  1. Visit the official website of RBL Bank. 
  1. Click on ‘Loans’. The option can be found under ‘Products’
  1. Next, click ‘Know More’ under ‘Car Loan’. 
  1. Click on ‘Apply Now’ under the ‘Pre-Owner Car Loan’ option. 
  1. Enter your name, mobile number, email ID, pincode, and city. 
  1. Agree to the terms and conditions and click on ‘Submit’. 
  1. An RBL Bank representative will contact you to process the request. 

Eligibility Criteria

The eligibility criteria that must be met to avail the pre-owned car loan offered by RBL Bank are mentioned below: 

  1. Salaried individuals must be between the ages of 21 years and 60 years and must have at least two years of job experience. 
  1. Self-employed individuals must be between the ages of 21 years and 75 years and must have the same business for at least three years. 
  1. You must earn at least Rs.2.40 lakh in a year. 
  1. The age of the car must not be more than 12 years when the loan ends. 
  1. The cars that the loan will be provided for will depend on the bank’s approved car list. 

Documents Required

Basic Documents 

  1. Passport-sized photographs. 
  1. Business Continuity Proof such as Partnership Deed, COI, Shops & Est. Certificate, IT Returns, Sales Tax Challans, or Bank Statement. 
  1. Proof of address such as Bank Statement, Sale Agreement, Registered Sale Deed, Electricity Bill, Electricity Bill, Telephone Bill, Passport, Driving Licenses, or Voter ID. 
  1. Proof of Identity such as Passport, Driving Licenses, or Voter ID. 
  1. PAN Card 

Financial Documents 

Self-Employed Professionals 

  1. Degree certificate and professional qualification certificate for professionals. 
  1. Last six months’ bank statement. 
  1. ITR for the last two years. 

Self-Employed Individuals 

  1. Last six months’ bank statement. 
  1. ITR for the last two years. 

Salaried Employees 

  1. Last three months bank statement with salary credit. 
  1. ITR for the last two years. 
  1. Last three months bank statement. 
  1. Form 16 provided by the employer. 
  1. Last three months' salary slips. 

Fees and Charges

The different charges that are levied by RBL Bank on its used car loan are mentioned in the table below: 

Category 

Charges 

Loan Rebooking/ Cancellation Charges 

Rs.2,000 

Preclosure Charges 

Within 6 Months: 6% of the principal that is outstanding7 months – 12 months: 5% of the principal that is outstanding13 months –24 months: 4% of the principal that is outstanding25 months and above: 3% of the principal that is outstanding 

Bounce Charges 

Rs.500 for every instance 

Duplicate NOC 

Rs.250 for every instance 

Legal Notice Charges 

At actual 

Asset Repo Charges 

At actual 

Duplicate Account Statement 

Rs.250 for every instance 

Stamp Duty 

At actual 

CIBIL Report Charges 

Rs.50 for every report 

EMI Overdue Charges 

2% of the EMI amount 

Valuation Charges 

At actual 

Document Charges 

Rs.1,300 

Processing Fee 

1.00% - 1.50% of the loan amount 

FAQs about RBL Used Car Loan

  • Can I apply for an RBL Bank Pre-Owned Car Loan offline?

    Yes, you can apply for an RBL Bank Pre-Owned Car Loan offline. 

  • Can I apply for an RBL Bank Pre-Owned Car Loan online?

    Yes, you can apply for an RBL Bank Pre-Owned Car Loan online. 

  • What is the maximum loan amount that is offered by RBL Bank for a used car loan?

    The maximum loan amount that is offered by RBL Bank for a used car loan is Rs.30 lakh. 

Disclaimer
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.