When an unexpected financial crunch occurs, our first instinct is to get out of it as soon as possible. However, it depends upon whether we have enough funds or not. RBL Bank personal loan is an excellent way to get it for those who do not have it.
This lender offers a good loan amount with instant credit and a low personal loan interest rate. All you have to do is check out the details mentioned below to make a decision.
RBL Bank Personal Loan
The RBL Bank personal loan 2021 is designed in such a way to solve whatever issue you are facing. We shall explore below, but first, here are the basic details.
- The loan amount is offered from Rs 1 lakh to Rs 20 lakhs.
- The personal loan interest rate is 14% P.A onwards.
- The processing fee is up to 3.5% of the loan amount.
- The loan tenure is up to 5 years.
- The delayed payment charge is 2% additional interest per month.
- The dishonour charge is Rs 250 per instance.
- The foreclosure is allowed after 12 EMIs at a rate of 3% to 3% of the outstanding loan amount.
- The convenience charge is Rs 999.
- The stamp duty charge is 0.2% of the loan amount.
- The principal certificate charge is Rs 250.
- The Lowest EMI is Rs 2,405 per lakhs.
Where could you use the RBL Bank personal loan 2021?
Here are some examples where you could use the RBL Personal loan.
- To pay the medical bill - If you need to pay the medical bills, this loan could help you out. It has swift disbursal and flexible repayment options.
- To pay education fee- Paying the education fee of your child school or college is an expensive thing. The RBL Bank personal loan 2021 is prepared to help.
- To pay for home renovation – If you want to give a new look to your home, The RBL loan is an ideal lender for it.
Why you should RBL Bank personal loan 2021?
- The loan amount is quite large to facilitate any expenses.
- The loan tenure is flexible and longer, up to 5 years.
- The RBL Bank personal loan interest rate 2021 is competitive compare to other lenders.
- The application process is simply quick to complete.
- RBL has excellent customer service to help you out.
The Eligibility Criteria for RBL Bank Quick Personal Loan
- A borrower should be a salaried individual.
- The monthly salary should be a minimum of Rs 25,000.
- The age criteria are between 25 years and 60 years at loan maturity time.
- The borrower should have a total experience of at least 3 years while working with their current employer for a minimum 1 year.
Documents Requirement for RBL Bank Personal Loan
- The loan application form
- Passport size photographs
- Identity proof- Aadhar card, PAN card, Voter ID card, Driving license
- Address proof – Utility bill, registered rent agreement, electricity bill, post-paid bill
- Income proof- Bank statement, salary slips for the last six months
How to apply?
To apply for RBL Bank personal loan 2021, visit Afinoz.com. It is an online website where to receive an offer from this lender; you have to register. From there, everything is easy and quick to follow. Do have the documents arranged before starting the process.
Conclusion
RBL Bank personal loan 2021 presents an attractive offer. With the low personal loan interest rate, you are indeed getting a great deal. However, you should read the loan documents carefully before sign on them.
