RBL Bank Home Loan: A Quick Overview
|Loan Amount||Up to 85 % of property cost (Max: 10 Crore)|
|Rate of interest||8.70% - 12.00% p.a|
|Tenure||Up to 25 years|
|Lowest EMI possible||Rs. 819 Per Lakh|
|Processing fee||Up to 1.5% of the loan amount + GST|
The features & USP of RBL Bank Home Loan can be summarised as:
Also check: Cibil score required for home loan
RBL Bank offers customised Home Loans. The eligibility criteria are easy to meet. The basic eligibility requirement includes:
Additional Reading: How to improve cibil score immediately?
You need to fulfil following list of RBL bank’s home loan documentation requirement:
For Self-Employed Individuals-
For Self-Employed Professionals
The effective Home Loan interest rates for RBL Bank floating home loans range from 8.70% - 12.00% p.a.
With effect from July 22, 2021, following benchmark interest rates will apply to the existing customers servicing home loans linked to Marginal Cost of Funding based Lending Rate (MCLR):
RBL Bank Home Loan Interest Rates- MCLR
|1 year MCLR||9.15%|
MCLR Based home loans will be adjusted according to the reset date.
The Prime Lending Rate (PLR) for RBL Home Loan is 16.25%.
Additional Reading: How to get Instant loan for low cibil score?
Here's a list of scheduled charges and processing fee for RBL Bank Home Loan:
|Type of Charges||Details of Charges|
|Processing fees||1.5% of the loan amount|
|Application Fees (non-refundable)|
|Late EMI payment charges||Additional interest rate of 2% per month on overdue EMI amount|
|Issuance of Duplicate Interest & Principal Certificate||Rs 250|
|Charges for duplicate no due certificate/ NOC||Rs 250|
|Charges for cheque swapping||Rs 250|
|Cheque bounce charges||Rs 250|
|CIBIL report charges||Rs 50|
|Charges for changing rate of interest from fixed to floating rate or floating to fixed ratee||0.5% on principal outstanding or Rs 50000 (whichever is lower)|
|Affordable Housing Loan||Fees & Charges|
|Document Fees (Non-refundable)|
|Part pre-payment charges|
NIL for floating rate loans
2% on principal outstanding*
* varies as per the source of fund
|Additional interest rate in case of default||2% p.m on overdue EMI|
|Loan cancelation/ rebooking||Rs 2000 (additionally franking/stamping norms as per actuals)|
|Other charges||Same as regular Home Loans|
RBL Bank offers following types of Home Loans:
Additional Reading: How to check free cibil score?
|Lender||Maximum Loan Amount||Maximum Tenure||Interest Rate||Processing Fee|
|RBL Bank Home Loan||Up to 85% of property||25 years||8.70% - 12.00%||1.5% of loan amount|
|Tata Capital Home Loan||Up to 80% of property||30 years||7.75% onwards||0.50% - 2% of the loan amount + GST|
|Kotak Bank Home Loan||Up to 90% of property cost||30 years||7.50% - 8.10%||Up to 2% + applicable GST|
|Axis Bank Home Loan||Rs. 5 Crores||30 years||7.60%-8.05%||Up to 1%, minimum Rs.10,000|
|HDFC Home Loan||Up to 90% of property cost||30 years||7.55%-8.05%||Up to 1.50% or Rs. 4,500 (whichever is higher) + applicable taxes|
Using RBI Bank Home Loan EMI Calculator you can instantly determine the home loan EMI and repayment schedule.
To access EMI calculator on our website, hover over Financial Tools tab on the home page. Click on Home Loan EMI Calculator. Enter Loan Amount, Rate of Interest, and Loan Tenure (in months or years) and click on ‘Calculate’ button. You will instantly get:
You can also use home loan calculator to check the loan eligibility and affordability prior speaking with the bank.
Additional Reading: What is cibil dispute?
For any Housing Loan related query, contact RBL Bank Customer Care 24X7 at their following Toll-Free numbers: +91 22 61156300
You can also email at: email@example.com
RBL Bank Ltd. One World Centre, Tower 2B, 6th Floor, 841, Senapati Bapat Marg, Lower Parel (W), Mumbai - 400013
Call: +91 22 43020600
Apply for instant home loan online at Interest Rate starting from as low as 8.25% p.a. Pay EMI of just Rs. 751 per Lakh. Loan can be repaid in flexible tenure of up to 30 years. Apply now with minimal documentation. Check eligibility & get instant approval here.
You can buy all types of residential property with the help of RBL Housing Loan.
Yes, you can transfer your existing Home Loan from any other lender to RBL Bank through their Balance Transfer facility. You can avail of lower rate of interest and apply for loan top as required.
The LTV for RBL Bank Home Loan is as follow:
Yes you can apply for RBL Home Loan with co-applicants. You can add your spouse or parent(s) as co-applicant and improve your home loan eligibility. The lender will consider total income of all co-applicants for assessing loan eligibility.
There are more factors besides your income which determine eligibility for RBL Bank Home Loan. The common factors are-
Yes. You can prepay your RBL Bank Home Loan early. The charges for prepaying Home Loan in part as well as in full are NIL for floating interest rate Home Loans. For fixed Interest Rate Home Loans, the following charges will be levied.
You can opt for RBL Bank's Easy Home Loan. This variant of Home Loan is linked to borrower’s current account. The interest on housing loan is calculated after deducting monthly average balance of the current account from the principal balance. By maintaining good average balance each month in the linked account, you can save interest on Home Loan and reduce the repayment tenure.
Yes, RBL Bank Home Loans have a moratorium for 18 to 30 months on the loan repayment. It is offered on the loans taken for house construction or purchase of a house under construction. The moratorium period depends on the stage of construction.
The RBL Bank Home Loan can be repaid within maximum repayment tenure of up to 25 years
Yes, RBL Bank also offers Loan Against Property to salaried as well as self-employed people. The loan can be availed for education, medical emergency, marriage, and so on. You can apply for LAP up to Rs 10 Crores for 15 years.