A personal loan from RBL bank can be availed by both salaried and non-salaried professionals or individuals. There is no collateral needed to avail of a loan from RBL bank

 The eligibility criteria for applying to RBL Bank Personal Loan

  • The individual must be 25 years of age 
  • The minimum salary should be Rs. 25,000
  • The minimum work experience required is 1 year

Proper documentation is needed and thus proper identity proof and valid address proof are necessary.

RBL Bank provides low-interest rate loans, with no hidden charges and the documentation is also minimal. The amount that can be availed as a loan is between Rs. 50,000 to Rs. 2,00,000. The repayment period is also long and with the part-prepayment option, the borrower does not feel the burden of the debt.

Advantages of the RBL Personal loan:

  • Low-interest rate
  • No security or collateral needed
  • The paperwork is very less
  • The tenure of the loan is long
  • The minimum income requirement is also low
  • The repayment is comfortable and also long
  • The documentation is also a hassle-free process

As per the EMI calculator of the RBL bank, the EMI for a loan of Rs 20 lakhs and a tenure of 60 months with an interest rate of 14% is Rs. 46,537. The total interest payable on the loan is Rs. 7,92,220. The total payment for this loan will be 27,92,220.