RBL - 8.20% for Home Loan - New Purchase Home Loan

RBL Bank Home Loan:

RBL Bank offers home loans to both salaried individuals and self-employed at a minimum rate starting from 8.20% – 11.55% p.a.*

Apart from the interest rate, the bank also has various other charges.

That is the charge over and above the loan amount, is nonrefundable and has to be paid at the time of loan application and foreclosure and prepayment fee for closing or prepaying the loan before the loan tenure ends.

 

Interest Rate	8.20% – 11.55% p.a.*
Loan Tenure	Up to 25 years loan
n Amount	Up to Rs. 10 crore
Processing Charges	Up to 1.5% of the loan amount or up to Rs 15,000, whichever is higher + GST

 

RBL Bank Home Loan Features:

RBL Bank Home Loan Interest Rate range from 8.20% – 11.55% p.a.*

Loan Amount up to 85% of the property value; Maximum 10 crore.

Customized RBL bank Housing loans for salaried as well as self-employed applicants.

Option of Moratorium for 18-30 months is available.

Fast Processing

Competitive Interest rate

 

RBL Bank Home loan interest depends upon:

1. Your Salary:

Income helps you identify your rate of interest.

The bank's rate varies with your monthly income.

The higher the income, the lesser will be the rate

 

2. Type of loan opted for:

RBL Bank also offers differential rates for women borrowers and also under their fixed and Floating rate schemes.

The rate of interest may be higher or lower under their special or popular loan product offers.

 

RBL Bank Home Loan Processing Fee and Other Charges:

In addition to interest rates, home loans from India also carry some other charges which include:

 

1. Processing Fee -

RBL Bank applies processing charges to account for its expenses incurred for conducting a credit appraisal and completing the lending process.

 

2. Technical and Legal Charges -

RBL Bank also charges technical and legal charges which are explained to the customer during the loan process.

Once you go through the loan application process, you will need to pay these charges based on RBL Bank rules.

 

3. Prepayment Charges-

If you decide to foreclose or transfer your housing loan to another bank, you need to apply for the same to RBL Bank

As per RBI rules, banks are not allowed to charge prepayment penalties on floating rate home loans. Hence, you can prepay your home loan with RBL Bank.

 

RBL Home Loan:

Apply:

Apply for an RBL Home Loan easily on ApnaRupee.com – a channel partner for India’s top banks.
Our loan experts assist you throughout the process – from documentation to disbursal.
You can also compare RBL Home Loan rates with other banks before choosing the best deal for your home loan needs.

 

RBL Home Loan Documents:

For Salaried employees:

1. Filled up the loan application form.

2. Two 2 Passport Size Photo.

3. ITR of last 2 years.

4. Identity Proof - Passport/ Driving License/ Voter ID/ PAN.

5. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport.

6. Income Documents – 6 months’ pay slip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit.

7. Property Documents - Past title chain: Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for

Construction/ extension.

 

For Self-Employed:

1. Filled up the loan application form.

2. Two passport-size photos.

3. Identity Proof - Passport/ Driving License/ Voter ID/ PAN.

4. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport

5. Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

6. Property Documents - Past title chain: Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension.

 

RBL Bank Home Loan Schemes:

1. RBL Bank Home Loan:

Home Loan for purchase of residential unit.

Available to Indian Residents only.

Salaried, self-employed & professional can be applied.

Home loan up to 10 cr.

Maximum tenure up to 25 years.

Minimal documentation

Faster approvals

 

2. RBL Easy Home Loan:

Special Home loan linked to a current bank account.

Saves interest component in home loan repayment.

By maintaining balance in a linked account you pay lower EMIs and repay the loan faster.

Available to residents salaried, self-employed, and professionals.

Loan up to 10 Crore for a maximum of 25 years.

Minimal documentation & faster approvals.

 

3. RBL Affordable Home Loan:

Home Loan Up to 30 Lakh.

The loan can be availed for purchase, self-construction, plot purchase+ construction, extension repair, or renovation of a residential unit

Balance Transfer at attractive interest rate + top-up facility available.

Flexible tenure of up to 20 years for home loan & 15 years for top-up.

Minimal documentation and faster approvals

 

Frequently Asked Questions:

Q. Which type of property can be purchased with RBL Bank Home Loan?

Ans. You can buy all types of residential property with the help of RBL Housing Loan.

 

 Q. Can I transfer my existing Home Loan to RBL Bank?

Ans. Yes, you can transfer your existing Home Loan from any other lender to RBL Bank through their Balance Transfer facility.

You can avail of a lower rate of interest and apply for a loan top as required.

 

Q.  What is the maximum tenure for RBL Bank Home Loan?

Ans. The RBL Bank Home Loan can be repaid within a maximum repayment tenure of up to 25 years.

 

Q.  Does RBL bank offer a moratorium on Home loans?

Ans. Yes, RBL Bank Home Loans have a moratorium of 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.