RBL Bank personal loan interest rates begin from 14%. The lowest EMI for Rs. 1 Lakh is Rs. 2,326 when borrowed at the lowest interest rate and for a tenure of 60 months. The loan amount is between Rs. 1 Lakh and Rs. 20 Lakhs. Both salaried and self-employed professionals can apply for this loan. People in the age group of 25 years to 60 years can procure funds. The processing fee is up to 2% of the loan amount + taxes. You can choose part-payment or foreclose the loan.

Features And Benefits of Personal Loan From RBL Bank

Before you apply for this loan, you should know about the features and benefits of the RBL Bank Personal Loan 

  • Loan Amount: The loan amount given to borrowers varies according to their eligibility.  RBL Personal loan amount ranges between 1 Lakh and Rs. 20 Lakhs. 
  • Loan Term: The loan term is flexible and ranges from 12 months to 60 months. 
  • Collateral: RBL bank personal loan is an unsecured loan and does not require collateral. 
  • Documentation: The documentation process is simple. Only document proofs for identity and income are required. 
  • Interest rates: The personal loan is determined based on the income of the applicant, credit history, and the loan term chosen by the borrower. 
  • Disbursal Procedure: The bank usually sanctions a personal loan in a single working day from the date of receiving the request provided the complete application is submitted by the customer with the necessary documents. 

How to Get Low Interest Rates On RBL Bank Personal Loans? 

  • Maintain a credit score of 750 and above. 
  • The banks offer low interest rates on personal loans to existing customers.
  • Constantly check the rates for promotional offers and deals 
  • Be stable in a job for at least the last 3 years.
  • Increase your income sources if you can.
  • You can add a co-applicant for the loan.