RBL bank offers a revision of home loan interest rates to existing customers depending on ongoing interest rates in the market and the bank’s decision criteria.
What is the interest rate offered by RBL bank on home loans?
RBL Bank offers home loans at interest rates starting from 9.55%. The bank provides home loans to eligible individuals, both salaried and non-salaried. The Bank has an overdraft facility on home loans called ‘Easy Home Loan’. This helps borrowers in saving interest on their home loans by maintaining a certain balance amount in the linked loan account.
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|
Loan Amount |
Interest rate |
|
Regular Home Loan |
|
|
Maximum Rs. 25 lakhs |
9.55% |
|
Above Rs. 25 lakhs and below Rs. 75 lakhs |
10.90% |
|
Above Rs. 75 lakhs |
10.90% |
|
Easy Home Loan |
|
|
Maximum Rs. 25 lakhs |
10.05% |
|
Above Rs. 25 lakhs and below Rs. 75 lakhs |
11.40% |
|
Above Rs. 75 lakhs |
11.40% |
What are the features of RBL Bank home loans?
Some of the important features of home loan offerings by RBL bank are:
- High home loan amount
- Simple documentation
- Faster loan processing
- Low-interest rate
- No hidden fees
- Flexible loan tenure, maximum up to 25 years
- Easy Home Loan to help in an interest rate reduction
The interest rate offered by RBL Bank on home loans is linked to the repo rate as per RBI policy. This rate currently stands at 4.40%. The bank’s interest rate applicable on a home loan considers repo rate plus a spread (based on the loan amount).
RBL bank is known to offer one of the lowest interest rates on home loans in India. The bank is known for its easy application process combined with minimal documentation on home loans.