RBL Personal loan
RBL Bank Personal Loan Simplifies Your Loan Needs
Currently RBL Banks offers personal loans to salaried individuals who may need financial help for a variety of reasons, such as a wedding, medical exigency, vacation, a house makeover and many more. With a simplified documentation process and super fast loan disbursal, RBL Bank lets you take charge of your financial situation in an instant. RBL Bank is one of the fastest growing banks on the commercial front. Founded in 1943, the bank has expanded with over 190 branches and over 350 ATMs across the country. RBL Bank offers a dedicated and expert service under five business verticals: Retail banking, commercial banking, corporate banking, agricultural and developmental banking and lastly, financial markets. With over 14 lakh customers, the bank is constantly innovating and has a robust technological system in place. RBL Bank is also a front runner in many social outreach programmed that are aimed to uplift the lives of different segments of the society. RBL bank believes in education promotion, bringing preventative health measures to villages, empowering women and promoting sustainable means of living.
Overview Of RBL Personal Loan
RBL bank personal loans are aimed to cater to the needs of the salaried class who are looking for an extra help to reach their financial goals. With hassle free documentation process and flexible loan tenure, RBL bank personal loans are structured to understand the needs of the salaried individual. RBL bank personal loans are currently available only for salaried individuals who can avail this benefit by submitting necessary documents. There is no need to arrange for a guarantor or submit any collateral or security to avail the personal loan.
Why Pick RBL Personal Loan?
RBL Bank understands the needs of its customers and is a number one choice for many because of its key benefits:
- Wider Loan Amount Range – RBL Bank suits the needs of every borrower. Whether you need a loan as low as Rs. 1 lakh or as high as Rs. 20 lakhs, RBL has got you covered.
- No Security or Collateral required to avail the loan.
- Attractive Interest Rates – RBL bank offers personal loans that fall between 15.50% to 21% per annum.
- Flexible repayment option – RBL bank offers flexible repayment option that allows you to repay anywhere between 1 year to five years.
Features of RBL Personal Loan
RBL bank personal loans has the following features:
- Loan amount can be anywhere between 1 to 20 lakhs.
- There is no guarantor required to avail RBL personal loan.
- Prompt loan sanctions and quick loan disbursal.
- Processing fees is set at 2.5% of the total loan value.
- Foreclosure of the loan is allowed after six months. If the loan is closed before an year, the charges are 5% of the outstanding amount. After an year the foreclosure charges are set at 3% of the principal outstanding amount.
Benefits of Applying RBL Personal Loan on Letzbank
There are several benefits of applying for RBL Personal Loan on Letzbank
- Thorough Loan Report - Letzbank website presents comprehensive loan information on all the major banking products so that it becomes easy for its customers to pick a loan that suits their needs. The website also allows loan comparisons.
- Document Locker – Letzbank allows you to store your important financial documents at the time of any transaction processed on the website so that it is easier for you to complete a transaction at a future date.
- No Service Fee – The service fee for the loan application that is charged by banks is waive off for all loan applications initiated at the Letzbank.com website.
- Credit Score - Check your Credit Score information online by using this service on Letzbank website. Letzbank has partnered with Experian, a leading credit rating agency that helps consumers to check their credit report as well as credit score online, thereby protecting their financial identity and ensuring accuracy.
- E-File IT Returns –Use the efile service to submit your income tax returns online free of charge! Letzbank has partnered with ClearTax, a website that helps you file your tax returns in the simplest manner.
- Insurance –Now buy all kinds of insurance plans such ascar insurance, life insurance, health insurance, etc. all under one roof, only at Letzbank website.
RBL Personal Loan Eligibility
The eligibility criteria for salaried individuals are as follows: the Minimum age should be atleast 25 years while the maximum age is set at 60 years. Minimum Net income should be Rs. 25,000 per month. You must have a total work experience of atleast three years with the last one year being with the current organization.
RBL Personal Loan Documents
The documents required for IndusInd Bank personal loan is as follows:
- Identity Proof – Voter ID or Driving License or Passport
- Address Proof - Latest utility bill/Rent Agreement, Driving License/Voter ID/Passport
- Age Proof –Pan Card, any valid government photo ID
- Income Proof – Latest Form 16 and last three months salary slip, last three months bank statement
- Employment confirmation – last six months bank statement reflecting the salary credit.
RBL Personal Loan Interest Rates
RBL bank offers personal loans that fall between 15.50% to 21% per annum, using the monthly reducing balance method.
RBL Personal Loan EMI Calculator
Using our Letzbank.com EMI calculator, you will be able to calculate the monthly EMI amount that you will be paying every month towards your RBL personal loan. Simply click on the link- https://www.letzbank.com/emi-calculator/personal and enter the loan amount, interest rate and the loan tenure. Letzbank EMI calculator will take a few seconds to display your monthly EMI information. The EMI calculator page will also show you the stand-alone interest being calculated and also the principal amount that is deducted every month, including on an annual basis too. It is a great way to determine your monthly deductions without having to use any time consuming manual calculations that involves a lot of research and patience.