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RBL Bank Limited

RBL, (formerly known as Ratnakar Bank Limited) is one of the fast paced and emerging commercial banks in India. The bank is growing consistently and continuously, escalating its horizons in all the directions of the country. Incorporated in the year 1943, RBL evolved drastically through a metamorphosis under the guidance of the new management and emerged as one of the leading players in the field of finance and services in the year 2010.

RBL acquired the commercial, home loan and credit card business of Royal Bank of Scotland. The bank witnessed a flat profit growth for the financial year 2013-2014, which rose exponentially from Rs.1 Crore to Rs.93 Crores. This happened due to one-off charge that RBL had to pay to Royal Bank of Scotland (RBS) in India for acquiring their business. Along with the one off charge the Net profit that was obtained for the year 2013-2014 was Rs. 134 crore which was 44% higher than from the previous year. Net total income which was Rs. 384 crores in the preceding year also witnessed an increase by 57% i.e. Rs.603 crore at the closure of the financial year 2013-2014. RBL has been rated as “India’s Best Bank (Growth)” in mid-sized bank category by Business Today – KPMG study 2012 and 2013.

RBL renewed its core strength by laying its foundation on herculean advancement tactics along with immense professionalism, technology infrastructure, outstanding quality capital and reaching out to masses throughout the country. The bank was recognized as a Global Growth Company, 2014 by World economic forum.

Presently, RBL bank offers customized and tailor made solutions for financial services under five business verticals as enlisted:

1. Corporate and Institutional Banking

2. Retail Banking

3. Agriculture and development banking

4. Commercial Banking

5. Financial Markets

Currently, the bank ministers to the need of more than 14,00,000 satisfied customers and has a turnover of over Rs.31,000 crores. With its headquarter in Kohlapur, Maharashtra the bank operates through a nexus of 183 branches and 351 ATM's spread across 13 states in India

The bank has been offering various financial products and services to meet the needs of many

Loan Against Property

RBL bank offers loan against property for both salaried as well as a self employed person depending on your eligibility and the real value of your property to cater for your business as personal financial needs.

Overdraft Against Property

Overdraft against property is a financial product where you can avail an overdraft facility against your commercial or residential property as a collateral. This arrangement helps self-employed people to handle their funds so that the person pays only for what they use.

Business Loan

RBL Bank promotes enterprising individuals and offers them business loans with short term finance as well as capital for their operations in order to enable individual to expand their business and grow economically.

Personal Loan

RBL Bank intends to offer personal Loans to salaried individuals to cater for their immediate financial needs. RBL provides easy to apply and quick to obtain personal loans that can be repaid though easy and low EMI and startling rate of interests.

Home Loan

Your dream home will no more remain in your dreams with hassle free RBL home loans. RBL provides home loans with quick documentation and processing.

Loan Against Gold

RBL Bank offers a Loan Against Gold to fund your instant liquidity supplies while you concentrate on living at ease.

Eligible Profiles & Products

Eligible Profile Products
Salaried Personal Loan
Home Loan
Car Loan
Loan Against Property
Self Employed Home Loan
Car Loan
Business Loan
Loan Against Property

Eligibility and Documents for Salaried

Products Documents list Eligibility criteria and locations
Personal Loan
  1. Identify proof 1. Passport 2. Voter ID. 3. Driving Licence. 4. PAN Card 5. Adhar Card
  2. Valid Photo ID cards issued by Central or state Govt.
  3. Income proof- Last 2 months pay in slips and Form 16 issued by employer
  4. Bank account statement for last 6 months showing Salary credits.

Age 21 years - 58 years
Net Monthly Income of Rs. 25000/-
Minimum 1 year experience with Current Employer or total experience of 3 years at least.

Home Loan
  1. Pan Card
  2. Proof of Identity
  3. Address Proof
  4. Income Proof
  5. Latest Bank Statement
  6. Existing Loan Tracks

• Minimum net income of Rs. 120,000 pa.
• Minimum age at loan sanction – 24 years. Maximum age at loan maturity – 60 years
• Work Experience of minimum 1 year at current job and 2 years of total experience. If current job is less than 1 year, then 3 years of total experience required.

Loan Against Property
  1. Pan Card
  2. Application Form with photographs
  3. Proof of Identity
  4. Address Proof
  5. Income Proof
• Minimum gross salary of Rs. 150,000 pa • Minimum age at loan sanction – 23 years. Maximum age at loan maturity – lower of 60 years or retirement age.
Car Loan
  1. Pan Card
  2. Application Form with photographs
  3. Proof of Identity
  4. Address Proof
  5. Income Proof
  6. Latest Bank Statement
  7. Existing Loan Tracks
Applicant’s age should be minimum 21 years and maximum 58 years at loan maturity (maximum 60 years for Govt. employees.) Minimum total work experience of 3 years required. Minimum one landline contact at residence or office and a post-paid mobile connection required.

Fees and Charges for Salaried

Products Fees and Charges
Personal Loan Charges for CIBIL report - Rs. 50/-
Delayed Payment charges - 2% p.m on the the delayed EMI
Foreclosure charges - Below 12 months repayment – 5% of Principal outstanding - Post 12 months – 3% of principal outstanding. - No foreclosure allowed before 6 months on Book
Issue of Duplicate Principal & interest statement - Rs. 250/-
PDC Swapping charges - Rs. 250/-
Processing Fee - 2.5% of Loan Amount
Home Loan Chq / ECS Bounce Charges: Rs. 250/-
Late Payment Charges-2% per month

FAQs for Salaried

What is the maximum amount I can borrow for Home loan?
Ans. Up to 10 crore.
What is the repayment period for Home loan?
Ans. Up to 25 years depending on the loan amount and profile.
What is the Loan Amount as a proportion of the value of property?
Ans. For loan amount of less than 20 lacs the loan to value ratio is 90%. For loans between 20 lacs and 75 lacs the loan to value ratio is 80% while for loans greater than 75 lacs the loan to value ratio is 75%.
Is there an option to prepay Home Loans earlier? Are there any charges?
Ans. There are no charges for pre-payment and foreclosure of floating rate home loans. For fixed rate loans charges are applicable as per the schedule of charges.
What is the quantum of personal loan?
Ans. Loan amount from Rs.1 Lac up to Rs.20 Lacs.
What is the repayment period for personal loan?
Ans. Convenient loan repayment option of 12 to 60 months.
What is the Loan Amount as a proportion of the value of property?
Ans. The Loan Amount would depend on the type of property. For a Self occupied Residential property. Up to 65% of the market value of the property can be borrowed.
Can I club my income with others to avail Loan Against Property?
Ans. In case of salaried applicants, salary of up to 2 applicants can be clubbed. In case of non individual. Applicants, salary of partner/director can be clubbed along with the income of the firm.
Will the loan eligibility be calculated only on the basis of income?
Ans. No. There is a separate surrogate program for LAP where other parameters would be considered, Instead of the applicant’s income.

Eligibility and Documents for Self Employed

Products Documents list Eligibility criteria and locations
Home Loan
  1. Pan Card
  2. Proof of Identity
  3. Address Proof
  4. Income Proof
  5. ITR
  6. Existing Loan Tracks

• Minimum net annual income as per latest year ITR / Financials of Rs. 150,000.
• Minimum age at loan sanction – 24 years. Maximum age at loan sanction – 65 years.
• Business continuity of last three years in the same field.

Loan Against Property
  1. Pan Card
  2. Application Form with photographs
  3. Proof of Identity
  4. Address Proof
  5. Existing Loan Tracks
• Minimum net profit as per latest year ITR / Financials of Rs. 150,000. • Minimum age at loan sanction – 23 years. Maximum age at loan maturity – 65 years.
Car Loan
  1. Pan Card
  2. Application Form with photographs
  3. Proof of Identity
  4. Address Proof
  5. Income Proof
  6. ITR
  7. Latest Bank Statement
  8. Existing Loan Tracks
Applicant’s age should be minimum 25 years and maximum 65 years at loan maturity. Minimum 3 years of experience required in the same line of business. Minimum one landline contact at residence or office and a post-paid mobile connection required. Minimum Income ranges from 1 lac to 7.5 lac depending which segment of car customer wants to buy
Business Loan
  1. Pan Card
  2. Application Form with photographs
  3. Proof of Identity
  4. Address Proof
  5. ITR
  6. Latest Bank Statement
  7. Existing Loan Tracks
  8. Financial statement of last 2 years
  9. Trade license or any other regulatory license, if any applicable to unit
- Business Loans can be availed by self-employed individuals, self-employed professionals, sole proprietorship, partnership firms and private limited companies (including closely-held public limited companies), with a profitable business for the past 3 years. - Applicant’s age should be minimum 27 years at the time of application and maximum 65 years at loan maturity. - Minimum 5 years of experience required in the same line of business with at least 3 years of business establishment & operation in the same city. For self-employed professionals, minimum - 4 years of post-qualification experience is required. - Minimum business turnover required is Rs. 1 Crore and for Professional / Service Sector, applicant’s gross receipts should be at least Rs. 60 lacs. - Applicant must own either residence or office in his name or jointly with family members or resides in a residence owned by an immediate family member.

Fees and Charges for Self Employed

Products Fees and Charges
Home Loan Chq / ECS Bounce Charges: Rs. 250/-
Late Payment Charges-2% per month

FAQs for Self Employed

How much loan amount can I borrow in a Business Loan?

Ans. 10 Lacs to Rs.35 Lacs depending on your eligibility basis the financial documents submitted, repayment capacity and loan amount limit in your respective location.

For how many months can I borrow a Business Loan?

Ans. We offer convenient repayment options from 12 to 36 months.

Is there any security that I need to provide to get a Business Loan?

Ans. RBL Bank offers Business loan as an unsecured loan and hence you do not need to provide for any Security or Collateral for availing a Business Loan.