Learn the various RBL Bank Loans Features and Eligibility & Apply For One Online

Posted by  Fintra , updated 2021-11-10

Be it anything you desire, even if it’s not within your budget and/or wish to save now to spend later, loans are always the safest option to opt for. However, one vital fact to note is that loans come not for free, they have charges and one must fulfil its requirements as well. RBL Bank offers various loans such as RBL Bank Personal Loan, RBL Bank Home Loan, RBL Bank Car Loan, RBL Bank Education Loan, RBL Bank Affordable Housing Loan, RBL Bank Loan Against Property, and RBL Bank Business Loan. By applying for one of these loans, anyone can easily satisfy all its desires and dreams.

Various benefits are involved in taking a loan instead of other forms of credit. One of the benefits is to promptly access the funds at better interest rates than a credit card. However, bear in mind that with a loan, one has to be sure that it can pay back the entire amount as agreed every month because there's no option to either pay less or a minimum like there is with revolving credit. In this blog, Fintra will disclose some of the RBL Bank Loans details and their eligibility:

1. RBL Bank Affordable Housing Loan Features and Eligibility Criteria
2. RBL Bank Loan Against Property Features and Eligibility Criteria
3. RBL Bank Home Loan Features and Eligibility Criteria
4. RBL Bank Overdraft Against Property Features and Eligibility Criteria
5. RBL Bank Business Loan Features and Eligibility Criteria
6. RBL Bank Personal Loan Features and Eligibility Criteria
7. RBL Bank Car Loan Features and Eligibility Criteria
8. RBL Bank Working Capital Finance Features and Eligibility Criteria
9. RBL Bank Education Loan Features and Eligibility Criteria

RBL Bank Affordable Housing Loan Features and Eligibility Criteria

                      

With RBL Bank Affordable Home Loans, you can transform your dream home into a reality. RBL Bank gives home loans with easy documentation and quicker processing. Hence, without any further delays, own your dream house today! Do note that you can avail PMAY subsidy of up to Rs. 2.67 Lakhs from the central government on the purchase of your first home.

Product Features

• Get home loan up to Rs. 30 Lakhs to purchase, self-construction, plot purchase + construction, extension, repair or renovation of a dwelling unit
• Easily do a balance transfer of an existing home loan at an attractive interest rate and Top-up thereon
• Enjoy flexible tenures that can go up to 20 years for a home loan and 15 years for Top-up on an existing loan
• Quicker approvals with minimal documentation

Eligibility & Loan Criteria

• Salaried individuals, self-employed individuals, and self-employed professionals
• Indian residents only
• The minimum net salary and/or net business income must be Rs. 7,000 per month
• At the time of loan maturity, the maximum age for an income-earning applicant– Salaried 60 years and Self Employed 65 years

RBL Bank Loan Against Property Features and Eligibility Criteria

It doesn't matter whether an individual is salaried or self-employed, the RBL Bank Loan Against Property recognises the actual value of a property to meet your personal and business requirements.

Product Features

• Avail loans up to Rs. 10 Crores
• Repayment option is up to 180 months
• Residential and commercial properties are accepted as collateral
• Get a loan up to 80% of the property value
• Quicker approvals with minimal documentation
• Avail attractive interest rates
• There's the availability of having a fixed rate for the first three years

Eligibility & Loan Criteria

• Salaried individuals, self-employed individuals, self-employed professionals, sole proprietorships, partnership firms, and private limited companies, including closely-held public limited companies
• Indian Residents only

Salaried Individuals

• The minimum gross salary must be Rs. 150,000 per annum
• At loan sanction time, the age should be minimum 23 years, and the maximum age at loan maturity should be lower than 60 years or retirement age

Self-Employed Individuals and Professional

• The minimum net profit as per the latest year ITR / Financials must be Rs. 150,000
• At loan sanction time, the minimum age should be 23 years, and the maximum age at loan maturity should be 65 years

                        

RBL Bank Home Loan Features and Eligibility Criteria

With RBL Bank Home Loans you can own your dream home as soon as possible! The RBL Bank gives home loans with faster processing and easy documentation to enable you to own your dream house without any delays. The bank even gives an “Easy Home Loan” product that enables to save interest on the home loan and repay its loan faster.

Product Features

• Avail home loans up to Rs. 10 Crores
• The tenures are flexible- up to 25 years
• Quicker approvals with minimal documentation
• Save interest by maintaining balance in a linked account

Eligibility & Loan Criteria

• Salaried Individuals, self-employed individuals and self-employed professionals
• Indian residents only

Salaried Individuals

• The minimum net income of an applicant should be Rs. 120,000 per annum
• At loan sanction time, the minimum age of the applicant should be 24 years, and at loan maturity, the maximum age must be 60 years or superannuation whichever is early
• The work experience should be minimum 1 year at current job and 2 years of total experience. If the current job is less than 1 year, then the total experience should be 3 years

Self-Employed Individuals and Professionals

• The minimum net annual income as per the latest year ITR / Financials should be Rs. 150,000
• At loan sanction time, the minimum age of the applicant should be 24 years, and the maximum age at loan sanction time should be 65 years
• The business continuity should be at least three years in the same field

RBL Bank Overdraft Against Property Features and Eligibility Criteria

With the Drop-line Overdraft Against Property facility, one can easily manage the fund requirements for business needs and pay for what it uses only. For self-employed customers, the Drop-line Overdraft Against Property is an overdraft facility against property as collateral.

Product Features

• Avail Drop-line Overdraft limit up to Rs. 5 Crores
• The tenure is up to 10 years
• Residential and commercial properties are accepted as collateral
• Get a loan up to 80% of the property value
• The interest will be charged only on the amount utilized
• Quicker approvals with minimal documentation
• Avail attractive interest rates

Eligibility & Loan Criteria

• Self-employed individuals, self-employed professionals, sole proprietorships, partnership firms and private limited companies, including closely-held public limited companies
• Indian residents only
• The minimum net profit as per the latest year ITR / Financials should be Rs. 150,000
• At loan sanction time, the minimum age should be 23 years, and the maximum age at loan maturity should be 65 years

RBL Bank Business Loan Features and Eligibility Criteria

                     

To service short-term finance and working capital requirements, the RBL Bank Business Loans will be a perfect solution to opt for. With RBL Bank by your side, one can focus on developing its business while the bank takes care of financing the business expansion needs.

Product Features

• Avail loans from Rs. 10 Lakhs to Rs.35 Lakhs
• Loan repayment options are 12 to 36 months
• No security or collateral required

Eligibility & Loan Criteria

• Self-employed individuals, self-employed professionals, sole proprietorships, partnership firms and private limited companies, including closely-held public limited companies, with a profitable business for the past 3 years
• At the time of application, the applicant’s age must be minimum 27 years, and the maximum age at loan maturity should be 65 years
• The applicant should have minimum 5 years of experience in the same line of business with minimum 3 years of business establishment and operation in the same city. For self-employed professionals, the minimum requirement is of 4 years of post-qualification experience 
• The business turnover should be minimum Rs. 1 Crore, and for the Professional / Service Sector, the applicant’s gross receipts must be at least 60 Lakhs
• The applicant should be owning either a residence or office in his/her name or jointly with family members or should be residing in a residence owned by an immediate family member

RBL Bank Personal Loan Features and Eligibility Criteria

                     

Wish to plan a dream vacation but don't have enough funds, or seeking funds to pay for a wedding? Don't be disheartened. You can opt for RBL Bank’s personal loan and fulfil all your desires!

In our daily life, unexpected expenses pop up at any point in time. Be it for emergency medical expenses, a child’s education expenses, or even a wedding in the family. Hence, RBL Bank Personal Loan will help to take care of such needs. One can acquire up to Rs. 20 Lakh at attractive interest rates starting from 14%.

Product Features

• Avail loans from Rs. 1 Lakh to Rs. 20 Lakhs
• Loan repayment options are 12 to 60 months
• No security or collateral required
• The process is simplified and quick documentation
• Avail attractive interest rates

Eligibility & Loan Criteria

• The minimum net monthly income should be Rs. 40,000 per month
• At the loan sanction time, the minimum age of the applicant should be 25 years, and the maximum age at loan maturity should be less than 60 years or retirement age
• The work experience should be minimum 1 year at current employment, and 3 years of total employment experience

RBL Bank Car Loan Features and Eligibility Criteria

                      

If you are dreaming of purchasing your dream car then opt for RBL Bank New Car Loans. Now owning a new car has become quick and easy; that too at attractive options offered by RBL Bank.

Product Features

• Avail loan for cars that range from small and compact cars to super-premium cars such as SUVs and MUVs
• Loans range from Rs. 50000 to Rs. 30 Lakhs for salaried individuals and up to Rs. 1 Crore for self-employed individuals and self-employed professionals
• Loan repayment options are tenures from 12 to 60 months
• Get LTV up to 90% of the value of the New Car (includes Ex-Showroom Price + applicable taxes + Insurance)
• Get loans at attractive fixed rates of interest

Eligibility & Loan Criteria

Salaried Individuals

• Applicant’s age must be minimum 21 years and at loan maturity, maximum age should be 58 years (maximum 60 years for Govt. employees)
• The total work experience should be minimum 3 years
• Applicant should have one landline contact at residence or office and a post-paid mobile connection
• The minimum income required basis the segment of the car purchased as per the table below:

Segment	Tier1 - Small	Tier2 - Compact	Tie3 - Mid-sized	Tier4 - Large-sized	Premium Cars
Minimum Income	Rs.1 Lakh	Rs. 1.5 Lakhs	Rs. 3.5 Lakhs	Rs. 5.5 Lakhs	Rs. 9 Lakhs

 

Self-Employed Individuals / Professionals 

• Applicant’s age must be minimum 25 years and at loan maturity, the maximum age should be 65 years
• The minimum work experience should be 3 years in the same line of business
• Applicant should have at least one landline contact at residence or office and a post-paid mobile connection
• The minimum income required basis the segment of the car purchased as per the table below:

Segment	Tier1 - Small	Tier2 - Compact	Tie3 - Mid-sized	Tier4 - Large-sized	Premium Cars
Minimum Income	Rs.1 Lakh	Rs. 1.5 Lakhs	Rs.3  Lakhs	Rs. 4 Lakhs	Rs. 7.5 Lakhs

 

RBL Bank Working Capital Finance Features and Eligibility Criteria

In a business progression, the RBL Bank are always ready to take care of its inventory and receivable funding. They will support the day to day expenses related to the ongoing needs that will take care of the monthly commitments like salary, electricity etc. Stay focussed on the business when opting for RBL Bank’s Working Capital Finance, which is going to improve its liquidity. 

Product Features

• Avail Cash Credit Limit/Overdraft facility to aid the day to day operations
• One can export credit to provide Pre Shipment and Post Shipment Finance to its exporters
• Avail Non-Fund based facilities- The Buyer’s Credit and Letter of Credit
• The Bank guarantees to meet the financial obligations and performance
• Establish deep ties with the bank
• The RBL Bank Relationship Manager will work closely with the client to address all its challenges
• Interest rates, commissions, and charges will be priced competitively

Eligibility & Loan Criteria

If the applicant is in the business of trading, manufacturing, or services, then it can apply for the Working Capital Finance. Following are a few basic eligibility criteria for it:

• The business must have a minimum track record of 3 years in the same line of business
• The cash profit should be having a positive net worth for the last 2 years 

RBL Bank Education Loan Features and Eligibility Criteria

                        

With RBL Bank's easy and convenient Education Loan pursuing higher education has become much easier. The RBL Bank Education loan is a tenor based instalment loan, which could be availed for higher education in India and/or abroad.

Product Features

• Avail loans from Rs. 50,000 up to Rs 10 Lakhs for education in India and up to Rs. 20 Lakhs for pursuing education abroad
• It has a convenient principal repayment facility (Moratorium period of 1 year after course period or 6 months after obtaining a job, whichever is earlier)
• Get up to 100% of tuition fee, living expenses, and even other expenses are covered as well
• Loan process is simple with hassle-free documentation
• Avail lower interest rates for top ranking institutions/universities
• Get higher LTV for the collateral-based loans
• The loan sanction process is hassle-free, and disbursal procedure
• There's no collateral requirement for loans up to Rs 4 Lakhs

Eligibility & Loan Criteria

• The applicant along with the co-applicant should be an Indian resident
• The minimum net income should be Rs. 1.5 Lakhs per annum
• The Co-applicant can be anyone - Father / Mother / Brother / Sister / Spouse
• The Co-applicant should either be a salaried or self-employed individual

Conclusion

As we read above, there are various sorts of loans offered by RBL Bank. The Bank may provide a loan that can either be secured or unsecured. Usually, people go for secured loans because it has lower interest rates and offers a large sum of funds, which can be used for purchasing a car and/or a house. On the other hand, unsecured loans are very common forms of personal loans, which have higher interest rates and are provided for smaller amounts for purposes such as home renovation, and so on. However, do bear in mind the maximum loan amount you can avail depends on your collateral capacity and credit report.