RBL Bank

RBL Bank

Bank Name
Interest Rate Range
Processing Fee Range
Loan Amount
Tenure Range
Action

Rate of Interest

  • Floating rate of Interest : 10.30% p.a. to 11.55% p.a.
  • Fixed Rate of Interest : 11% p.a. 
  • Home Saver plan : 9.25% p.a.

Eligibility Criteria

  • Minimum 21 years of age and maximum 60 years
  • Loan period from 3 years to 25 years
  • Should be either salaried or self-employed and have regular source of income
  • Should have sufficient income to pay EMI on required loan
  • Applicant must be Indian Citizen, in case of NRI or person of Indian origin it should be properly documented

Fees and Charges

  • Processing Fees 0.0% to 2.0% depends on type and category of borrower
  • Preclosure Charges – Rs 0
  • Part Payment charges- Rs 0
  •  No any other hidden charges

Documents Required

  • KYC- Pan Card, Adhar Card, ID Proof and Address proof
  • ITR with computation for 3 years with Income proof
  • Bank Statement
  • Photograph
  • 2 references

Value Additions

  • Doorstep services
  • E- approvals
  • Part payment allowed

Special Feature

  • No guarantor required
  • No pre-closure or part payment fees
  • Balance Transfer Allowed
  • Top up available

Overview about RBL Bank

RBL Bank limited is a scheduled commercial bank. It’s headquartered in the Kolhapur region of Maharashtra. It is founded in August 1943, RBL Bank new home loans are a perfect solution to fulfill your dream home requirement. RBL is one of the oldest private sector banks in India.

Your Eligibility depends on following


You should be minimum 24 years old

You should be maximum 60 years old

You should be salaried or self employed

You should have sufficient income to pay EMI on required loan

You can increase your eligibility by doing following

Make your spouse as co applicant , her/his income will also be added in eligibility
Choose longer tenure of loan period maximum upto 25 years
Add more than one co applicant if required to enhance your eligibility
Close short term loans, this will also increase your eligibility

Rate of Interest and Other Charges for Home Loan are following

 RBL Bank Home Loan Interest Rate:

Sno.

Loan Amount

Interest Rate

1

Up to Rs.25 lakh

10.4% (1 year MCLR)

2

Rs.25 lakh to Rs.75 lakh

11.65% (MCLR + 1.25%)

3

More than Rs.75 lakh

11.65% (MCLR + 1.25%)

4

Fixed rate loan for 3 years

13.5%

5

Easy Home Loan: up to Rs.25 lakh

10.9% (MCLR + 0.5%)

6

Easy Home Loan: Rs.25 lakh to Rs.75 lakh

12.15% (MCLR + 1.75%)

7

Easy Home Loan: More than Rs.75 lakh

12.15% (MCLR + 1.75%)

RBL BANK HOME LOAN MCLR JUNE 2017:

Sno.

Loan Tenure

MCLR

1

Overnight

9.70%

2

1 Months

9.70%

3

3 Months

9.75%

4

6 Months

9.80%

5

1 Year

9.85%

6

2 Years

9.95%

7

3 Years

10.05%

Existing Loan take over or New Loan

Whether you are looking for a property, or wish to construct your own house, you could perhaps consider RBL Home Loans. Home loan interest rates in RBL are competitive. Some of the features and benefits include:

  • Flexible repayment tenure up to 25 years
  • Home loan amount of up to Rs.10 Crores
  • Attractive RBL bank home loan interest rate
  • Preferential RBL home loan interest rate for existing customers
  • A dedicated platform to answer all your queries.
  • Hassle-free documentation process
  • Part prepayment and full prepayment allowed
  • Flexible loan repayment options

Features of Loan

Given below are the key features of housing finance offered by RBL Bank:

  • You can avail home loans to the tune of Rs.10 crore.
  • The repayment period of the loan can be as many as 25 years.
  • Easy Home Loan is designed for faster repayment, thereby helping you save interest on the loan amount. Under this plan, you can save interest by maintaining balance in a linked account.
  • There are no foreclosure charges for either full pre-payment or partial pre-payment under the floating rate housing loan.

Documents Required for applying  Home Loan  with RBL Bank

The documentation criterion is different for salaried individuals and that for self-employed individuals. The following list gives a complete set of documents required by both salaried and self-employed individuals:


For salaried applicants: 

  • Passport size photographs
  • Proof of Residence which can be a copy of any one of the documents like Ration Card, Telephone Bill, Electricity Bill and Voters Card.
  • Proof of Identity which can be a copy of any one of the documents like Voter’s Card, Driver’s License, PAN Card and Employer’s Card.
  • The latest Bank Statement or Passbook which shows the salary or income being credited in the account for the last 6 months.
  • Salary Slip of the last 6 months with deductions shown.
  • Form 16 of the last 2 years.
  • Agreement for sale of house/flat.
  • Estimates for construction/valuation report for acquisition/legal opinion on the property from a bank approved engineer/lawyer.
  • Processing fee cheque

For Self-employed  Professionals/Business persons :

  • Passport size photographs
  • Latest audited ITR
  • Certified Financial Statements for the last 2 years (balance sheet, profit & loss accounts, computation of income with all schedules).
  • Proof of Residence which can be a copy of any one of the documents like Ration Card, Telephone Bill, Electricity Bill and Voters Card.
  • Proof of Identity which can be a copy of any one of the documents like Voter’s Card, Driver’s License, PAN Card and Employer’s Card
  • Latest bank statement or Passbook which shows the salary or income being credited in the account for the last 6 months
  • Business continuity proof – any one of the following documents that should be dated 5 years old – Sales Tax challans / Shops & Est Certificate/ COI / Partnership Deed
  • Professional Qualification Certificate and Degree Certificate for professionals (Doctors, architects, chartered accountants, etc.).
  • Agreement for sale of house/flat).
  • Estimates for construction/valuation report for acquisition/legal opinion on the property from a bank approved engineer/lawyer.
  • Loan applicant has to provide a letter that certifies the use of the loan on a business letterhead.
  • Processing fee cheque