Rbl Bank Home Loan

Rbl Bank Home Loan Interest Rate (Updated on 19 Nov 2018)

INTEREST RATE10.30% to 11.65%
LOAN TENURE25 Years
PROCESSING FEE
  • Up to Rs 25 lakhs: Rs 5000
  • Rs 25 lakhs to Rs 75 lakhs: Rs 10,000
  • Above Rs 75 lakhs: Rs 15,000
GUARANTOR REQUIREDPlease Contact Bank Branch
PRE CLOSURE CHARGESNil

Rbl Bank

Rbl Bank Limited is a private sector bank in india . It has headquarter in Kolhapur. Rbl Bank Limited was founded on 1943. It has 279 branches and It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, home loans, personal loan, car loan, education loan, gold loan, PPF account, lockers, netbanking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.

Find details about Rbl Bank Limited which includes Rbl Bank Limited Official Website, Rbl Bank Limited ATMs accross the India, Rbl Bank Limited Branches accross the India, Rbl Bank Limited Contact Numbers, Rbl Bank Limited official EmailID, Rbl Bank Limited Headquarter and Rbl Bank Limited Headquarter Address. Find Rbl Bank Limited Home loan purpose, Eligibility, Margin, Repayment of Home Loan ,Security, Document Required for Home Loan from below.

About RBL Bank Home Loan

ParticularsDescription
TypePrivate Sector Bank
IndustryBanking & Financial Services
Founded inAugust 1943
HeadquarterMumbai, Maharashtra, India
Websitehttps://www.rblbank.com/
ProductsRetail Banking, Corporate Banking, Finance, Credit Cards, Insurance, Asset Management, Wealth Management, Loans & Private Equity

RBL Bank is the oldest private sector bank in India. It has a brand image with rich 75 years of performance having 3.15 millions of satisfied customers. It has a vast network of 342 branches and 488 ATMs across 20 Indian states and Union Territories as of June 2018. It offers a wide range of Home Loan Schemes to different classes of customers to fulfil their dream of owning a home.

RBL Bank provides home loan for different needs and purposes such as for purchase, construction, and extension of dwelling unit, repairs/ renovation of home, for purchase of house which is under construction, for purchase of plot, etc. RBL Bank offers customised Home Loan solutions, best-in-class services and simplified loan process. It offers competitive, attractive and affordable home loan interest rates.


RBL Bank Home Loan Interest Rates Updated on 19 Nov 2018

ParticularsDetails
Interest Rate 10.30% to 11.65%
Processing FeeMinimum Rs. 5,000 & Maximum Rs. 15,000
Loan AmountCustomised
Loan TenureUp to 25 Years
Margin10% to 25% of the loan amount
Pre-closure ChargesNil prepayment charges under floating rate option
Partial prepayment chargesNil Partial prepayment charges under floating rate option
SecurityEquitable | Registered Mortgage of the Property in question

Why RBL Bank Home Loan?

  1. RBL Bank provides a range of Home Loan Schemes designed for different needs of customers
  2. Home loan interest is calculated on a daily reducing basis
  3. It has PAN India branch network provides easy access to the customers
  4. Pre Approved loan offers and preferential home loan interest rate for existing home loan borrowers
  5. It provides Flexible Repayment Options to the borrowers
  6. Quick & Hassle-free processing
  7. Easy and fast approval & disbursal of home loans
  8. Free & safe document Storage
  9. Special lower interest rate offer for women
  10. It provides rebate in Income Tax
  11. Has dedicated team of well-experienced employees
  12. Transparent process with no hidden charges
  13. Offers loan upto 90% of property value
  14. 24/7 helpline of RBL Bank offers timely assistance to the customers
  15. As of June 2017, ICRA has rated the Bank as A1+ (Rs. 3,000 crores) for the Certificates of Deposits Program

Purpose of RBL Bank Home Loan

  • Purchase a Plot for construction of a House
  • Purchase | construct house | flat
  • Home Extension
  • for renovation | repair | alteration | addition to house | flat
  • Take over from other Banks/ HFCs/ NBFCs/ FIs, etc.

Margin or Loan to Value Ratio (LTV) Ratio: For New Home Loan

Loan AmountMarginLTV Ratio
Up to Rs 30 lakhs10%90%
Up to Rs 30 lakhs & upto Rs. 75 lakhs20%80%
Above Rs. 75 lakhs25%75%

Eligibility Criteria of RBL Bank Home Loan

BasisSalaried CustomersNon Salaried Customers
AgeMinimum 24 years & Maximum 60 YearsMinimum 24 years & Maximum 65 Years
IncomeRegular source of income is neededRegular source of income is needed
Job/ Business Experience1 Year2 Years
Age of Co-applicantMinimum 18 yearsMinimum 18 years

Documents Required for RBL Bank Home Loan

Salaried applicantsSelf-employed
Passport size photographsPassport size photographs
Processing fee chequeProcessing fee cheque
Proof of Residence (anyone): Ration Card, Telephone Bill, Electricity Bill, Voters Card, etc.Proof of Residence (anyone): Ration Card, Telephone Bill, Electricity Bill, Voters Card, etc.
Proof of Identity (anyone): Voter's Card, Driving License, PAN Card, Employer's Card, etc.Proof of Identity (anyone): Voter's Card, Driving License, PAN Card, Employer's Card, etc.
The latest Bank Statement or Passbook showing salary or income being credited in the account for the last 6 months.The latest Bank Statement or Passbook showing salary or income being credited in the account for the last 6 months.
Salary Slip of the last 6 months with deductions shown.Latest audited ITR
Form 16 of the last 2 years.Certified Financial Statements for the last 2 years (balance sheet, profit & loss accounts, computation of income with all schedules).
Agreement for sale of house/ flat.Business continuity proof (anyone but should be dated 5 years old): Sales Tax challans,, Shops & Est Certificate, COI, Partnership Deed, etc.
Estimates for construction/ valuation reportProfessional Qualification Certificate and Degree Certificate for professionals (Doctors, architects, chartered accountants, etc.).
Agreement for sale of house/ flat.
Estimates for construction/ valuation report
Loan applicant has to provide a letter that certifies the use of the loan on a business letterhead.

Fees & Charges on RBL Bank Home Loan

TypeCharges
Loan Processing Charges
  • Up to Rs.25 lakhs: Rs.5000
  • Rs.25 lakhs to Rs.75 lakhs: Rs.10,000
  • Rs.75 lakhs and above: Rs.15,000
Stamping ChargesApplicable as per the respective State's Stamp Act
Credit Administration Charges-
Credit Appraisal Charges-
Prepayment Interest / Foreclosure ChargesFor Individual Floating Rate Loans: NIL
No Due CertificateNIL
Payment Processing Charge-
Repossession Charges-
Lawyer's feesTo be borne by the borrower on the basis of actual cost
Valuation feesTo be borne by the borrower on the basis of actual cost

RBL Bank Marginal Cost of Funds Based Lending Rate (MCLR) with effect from 22.07.2018

TenorExisting MCLR (In %)Revised MCLR (In %)
Over night9.109.05
One Month9.309.20
Three Month9.459.30
Six Month9.459.60
One Year9.559.70
Two Year9.759.95
Three Year9.8510.05

Loan Amount of RBL Bank Home Loan

Loan offered to the borrower is completely customised as per the requirement and the eligibility criteria of the customer. The value of loan depends upon applicant's income, repaying capacity, age, assets and liabilities, credit score, tenure of the loan, cost of the proposed property, previous credit history.


Margin of RBL Bank Home Loan

Margin for RBL Bank Home loan ranges from 10% to 25% of the loan amount. It depends upon the scheme and loan amount availed by the borrower.


Repayment of RBL Bank Home Loan

The repayment of RBL Bank Home Loan can be done in Maximum 30 years or upto 70 years of the age of borrower, whichever is earlier.


Security of RBL Bank Home Loan

Being it a secured loan, the borrower is required to do Equitable | Registered Mortgage of the Property in question in favour of the bank. However, the bank may ask for other security also based on the case.


RBL Bank Home Loan Schemes

Sr NoSchemeBrief Description
1RBL Bank Home LoanRegular and most demanding scheme
2RBL Bank Pradhan Mantri Awas Yojana (PMAY)Subsidised home loan for eligible beneficiaries
3RBL Bank Balance Transfer of Home LoanTransfer home loan from other institution to RBL Bank

(1) RBL Bank Home Loan: This is a regular and most demanding home loan scheme that offers Housing Loan at attractive rates and ensure a house for all.

Important Features:

  1. Purpose: RBL Bank Home Loan is available for purchase of Residential Property only.
  2. Eligibility: Salaried and self employed having regular income in the age group of 21 years to 60/65 years
  3. Processing Fee: Minimum Rs. 5,000 Maximum Rs. 15,000
  4. Loan Amount: Customised
  5. Margin:10% to 25%
  6. Maximum Tenure: Max. 25 years
  7. Security: Equitable| registered mortgage of the property. If mortgage is not feasible, bank at its discretion can accept security in the form of Insurance Policies, Govt Promissory Notes, Shares and Debentures, Gold Ornaments etc.
  8. Interest Rates:
    Loan AmountInterest Rate (p.a.)
    Upto Rs. 25 Lakhs 10.30%
    Above Rs. 25 Lakhs 11.65%

(2) RBL Bank Pradhan Mantri Awas Yojana (PMAY)- EWS/ LIG & MIG-I/ MIG-II: This scheme offers Housing Loan to Individuals from Economically Weaker Section (EWS), Low Income Group (LIG) and Middle Income Group (MIG) I and II category at attractive rates.

Important Features:

  1. Purpose: RBL Bank Home Loan is available for purchase of Residential Property only.
  2. Processing Fee: Minimum Rs. 5,000 Maximum Rs. 15,000
  3. Loan Amount: Customised
  4. Eligibility: Individuals from Economically Weaker Section (EWS) & Low Income Group (LIG) category. Joint owners from the same family are also eligible. Beneficiary family should not own an all weather dwelling unit either in his/ her name or in the name of any member of his/ her family in any part of India. NRIs are also eligible in this.
    • EWS households - households having an annual income up to Rs.3,00,000 and house size with carpet area upto 30 square meter.
    • LIG households - households having an annual income above Rs.3,00,000 and up to Rs.6,00,000 and house size with carpet area upto 60 square meter.
    • MIG I households - households having an annual income above Rs. 6,00,000 and up to Rs.12,00,000 and house size with carpet area upto 120 square meter.
    • MIG II households - households having an annual income above Rs. 12,00,000 and up to Rs. 18,00,000 and house size with carpet area upto 150 square meter.
  5. Subsidy
    • EWS/ LIG Borrowers will get Credit Linked Subsidy at 6.50% for upto Rs. 6 lakhs for max. 20 years. Maximum subsidy amount will be Rs 2,67,280 only.
    • MIG-I Borrowers will get Credit Linked Subsidy at 4% upto 9 lakhs for max. 20 years. Maximum subsidy amount will be Rs 2,35,068 only.
    • MIG-II Borrowers will get Credit Linked Subsidy at 3% upto Rs 12 lakhs for max. 20 years. Maximum subsidy amount will be Rs 2,30,156 only.
  6. Table for detailed subsidy scheme
    ParticularsEWSLIGMIG-IMIG-II
    Interest Subsidy (% p.a.)6.5%6.5%4%3%
    Maximum loan tenure (in years)20202020
    Eligible Housing Loan Amount for Interest Subsidy (Rs.)6 lakhs6 lakhs9 lakhs12 lakhs
    Max. Dwelling Unit Carpet Area30 Sq. m.60 Sq. m.120 Sq. m.150 Sq. m.
    Maximum Subsidy Amount(Rs.)2,67,2802,67,2802,35,0682,30,156
  7. Margin:10% to 25%
  8. Maximum Tenure: Max. 25 years
  9. Security: Equitable| registered mortgage of the property. If mortgage is not feasible, bank at its discretion can accept security in the form of Insurance Policies, Govt Promissory Notes, Shares and Debentures, Gold Ornaments etc.
  10. Interest Rates:
    Loan AmountInterest Rate (p.a.)
    Upto Rs. 25 Lakhs 10.30%
    Above Rs. 25 Lakhs 11.65%

How to apply home loan from RBL Bank under Pradhan Mantri Awas Yojana (PMAY)?

First of all, you apply for home loan from RBL Bank and along with your loan application, you need to fill the Pradhan Mantri Awas Yojana (PMAY) Form and submit it with your loan application form with the bank. Bank will take care of its processing. Bank will check your eligibility and if you are eligible in the category you have applied for like EWS/ LIG/ MIG-I/ MIG-II, then accordingly the interest subsidy would be credited in your bank account.


(3) RBL Bank Balance Transfer of Home Loan : This scheme enables a customer to transfer home loan from any other institution to RBL Bank.

You can pay off any existing balance of home loan with RBL Bank Home Loan Balance Transfer at a lower rate of interest. Retain your home on terms and conditions that suits your needs.

You can also top-up the existing loan to get ready cash for any of your needs.

Avail RBL Bank Home Loan Transfer, if:

  • You are trying to reduce your interest rate and lower your payments
  • Willing to reduce your home loan term to pay off your loan faster
  • You want to use the equity in your house to get money for any of your needs

Important Features:

  1. Customer should satisfy the eligibility criteria for availing Home Loan as per RBL Mahindra Bank 's instruction
  2. Customer has serviced interest and/or instalment of the existing loan regularly, as per the original terms of sanction
  3. Customer should have valid documents evidencing the title to the house/ flat
  4. Security: Equitable| registered mortgage of the property. If mortgage is not feasible, bank at its discretion can accept security in the form of Insurance Policies, Govt Promissory Notes, Shares and Debentures, Gold Ornaments etc.
  5. Interest Rates:
    Loan AmountInterest Rate (p.a.)
    Upto Rs. 25 Lakhs 10.30%
    Above Rs. 25 Lakhs 11.65%

Tax Benefits of availing Home Loan

There are two types of tax benefits associated with home loan for Resident Indians:

Repayment of the Principal Amount: One can get a Tax rebate under section 80C of the Income Tax Act on whole amount repaid by him in a financial year, maximum upto Rs. 1,50,000/- each financial year (Increased from 1 Lakh to Rs. 1.5 Lakh in Budget 2014).

Repayment of the Interest on Home Loan: Tax Benefit on Home Loan for payment of Interest is allowed as a deduction under Section 24(1) of the Income Tax Act. One is eligible for a Tax Rebate of maximum of Rs. 2 lakh per financial year for home loan interest paid by him/her during that financial year.


What is the Impact of MCLR on EMI of RBL Bank Home Loan Borrowers?

After April 1, 2016, all bank loans (including home loans) are linked to the bank's MCLR with or without a mark-up or spread (bank margin). Earlier, they were linked to the bank's base rate. All banks are required to disclose their MCLR each month.

Banks generally hike MCLR, whenever there is a hike in Repo Rate by the RBI. Banks may increase MCLR due to surging bond yields and higher provisioning requirements, even when the RBI has not hiked Repo Rate.

Home Loan Interest Rate can be equal to the MCLR or have a 'margin' or 'mark-up' or 'spread' but can never be lower than MCLR.

"Home Loan Interest Rate is linked to the bank's MCLR. If MCLR goes up, the home loan rates will also go up. Home Loan Interest Rate will not be impacted by hike in MCLR only if banks reduce the mark-up (margin) in the home loan. If MCLR goes down, the home loan rates will also go down."

For MCLR-linked home loans, the rate is reset after 6 or 12 months according to the agreement between the borrower and the bank. The interest rate applicable on the reset date will become the new rate on which the future EMI's will be calculated.


What should Base Rate Home Loan Borrowers do?

Home Loan Interest Rate of old home loan borrowers (who had taken home loans before April 1, 2016) are linked to the base rates of the banks. Hence the EMI which they are paying is also linked to base rate. Banks have always remained very sluggish for passing on the benefits of RBI rate cuts to the borrowers.

Now after April 1, 2016, Home Loan Interest Rate is linked to MCLR (Marginal Cost of funds based Lending Rate) for home loan borrowers in order to resolve the problems of the Base Rate regime.

It will be beneficial for them to switch to MCLR linked rate if the difference between what they are paying (under base rate) and what the bank is offering (under MCLR) is significant. So they must switch to MCLR linked rates, if outstanding loan is high and the remaining tenure is also long.

In that situation, Base Rate Borrowers have following two options:

(1) Switch to MCLR linked home loan with the same bank: It is beneficial, in case the bank is charging a nominal switching fee such as 0.50% or less on outstanding amount.

(2) Transfer the loan to another bank on MCLR: It is feasible, if new bank has waived off processing fee (which they generally do in order to attract the customer and increase their business) or is charging very less processing fee and legal and transfer costs.

The borrower must compare both the above-mentioned options and opt for the one which is more beneficial to them in terms of money saved. It will result not only in reduction of future EMIs but also a huge amount of interest will be saved during remaining tenure.

One may as well continue the loan on base-rate especially if the maturity is near and need not go through the process of conversion.

Further, the Reserve Bank (RBI) is going to link the base rate for loans given by banks to the MCLR from April 1, 2018. Once it happens, the base rate will automatically increase or decrease along with the MCLR without any specific action required for adjustment. This will be very beneficial for the home loan borrowers whose rates (EMIs) are still linked to the base rate.


EMI Payment Methods of RBL Bank Home Loan

You can repay RBL Bank home loan in any of the following methods:

(1) Electronic Clearing Service (ECS): Electronic Clearing System is preferred for faster payments and collections. If you have an account with other bank than RBL Bank then you can use ECS for loan repayment. You will have to fill up a form and submit the same with your bank for debiting EMI every month from your account. In this case, your EMI will be automatically debited every month from your bank account and credited to RBL Bank towards loan repayment instalment.

(2) Standing Instruction (SI): If you maintain your account with RBL Bank, then you can use this method. Under this method, you will have to issue a Standing Instruction to RBL Bank to debit your EMI amount on a due date every month from your RBL Bank account and credit to RBL Bank loan account towards loan repayment instalment. You save a lot of time and energy by giving standing instructions to the bank to carry out the transaction on your behalf each time.

(3) Post-Dated Cheques (PDCs): In this method, you need to submit post-dated EMI cheques to RBL Bank for a certain period of time, which are deposited by the RBL Bank on the due date. This alternative is cumbersome and time-consuming and involve a manual procedure of visiting the RBL Bank in a timely manner.

Points to Note Regarding EMI Payment Methods

  1. A fresh set of PDCs need to be submitted in a timely manner.
  2. Post Dated Cheques are accepted only for non-ECS locations.
  3. It is good to pay your EMIs either through the Standing Instruction or ECS for faster and timely remittance of your loan instalments.

In case of Prepayment of RBL Bank Home Loan, will EMI change?

One can pre-pay RBL Bank Home Loan without any prepayment charges as it allows prepayment at nil charges in case of floating rate home loans. If the borrower makes a prepayment, the outstanding balance of principal amount of his home loan reduces. Then in that case he has following 2 options:

  1. He can continue with the existing and reduce the loan tenure
  2. He can reduce the EMI and keep the loan tenure the same

Out of above 2 options, first option is more beneficial for the borrower as he pay less interest to the bank as the pay off home loan will be faster.


Ways to Reduce your RBL Bank Home Loan EMI

  • Negotiate with your banker on lower interest rate
  • Apply for longer tenure
  • Give maximum amount as down payment
  • Pre-pay loan amount
  • Switch to another bank/ FI offering lower interest rate

Latest News on RBL Bank Home Loan

  • June 18, 2018: RBL Bank has raised lending rates by 5 to 20 basis points across all maturities i.e. by 0.05% to 0.20%
  • May 1, 2018: ETMONEY ties up with RBL Bank to offer personal loans
  • March 22, 2018: RBL bank has raised its MCLR by 5 basis points of all tenures
  • January 23, 2018: RBL Bank profit up 28% but NPAs rise
  • August 18, 2017: RBL Bank aims to maintain steady growth at the rate 30% to 35% till 2020
  • September 22, 2016: Ratnakar Bank has reduced MCLR by 5 to 20 basis points across all maturities i.e. by 0.05% to 0.20%

RBL Bank Home Loan FAQ

  1. What kind of property can I buy with RBL Bank Home Loan?

    RBL Bank Home Loan is available for purchase of Residential Property only.

  2. Is it possible to transfer my existing loan to RBL?

    Yes. You can transfer your existing Home Loan from any other financier to RBL (Balance Transfer) and avail of additional refinance.

  3. What is the Loan Amount as a proportion of the value of property?

    For loan amount of less than 20 lakhs the loan to value ratio is 90%. For loans between 20 lakhs and 75 lakhs the loan to value ratio is 80% while for loans greater than 75 lakhs the loan to value ratio is 75%.

  4. Can I club my income with others to avail Home Loans?

    Clubbing of income is allowed between spouse and parents and also for the cases where one of the applicants is salaried and other applicant is self-employed, subject to maximum clubbing of income of three applicants. This clubbing of income will be allowed between individuals related to each other as defined in the bank's policy.

  5. Will the loan eligibility be calculated only on the basis of income?

    Yes. The loan eligibility will be calculated depending on the value of the property being purchased and the income of the customer.

  6. Is there an option to prepay Home Loans earlier? Are there any charges?

    There are no charges for pre-payment and foreclosure of floating rate home loans. For fixed rate loans charges are applicable as per the schedule of charges.

  7. How can I save interest on my RBL Bank Home Loan?

    RBL Bank offers "Easy Home Loans" wherein the Home Loan is linked to a current account. The interest on the home loan is calculated after deducting the monthly average balance in the current account from the outstanding principal of the loan. If you maintain a good balance in the linked account then you can save interest on the Home Loan and reduce your repayment tenure.

  8. Can I give standing instructions to repay my Home Loan EMIs directly from my RBL Bank Savings Account?

    RBL, you can opt for Automated Repayment and your EMIs will be directly repaid from your RBL Bank Savings Account, thus saving you the trouble of procuring, signing and tracking post-dated cheques.

  9. What is Pre-EMI Option?

    Pre-EMI is an option in which the borrower has to pay only interest on loan amount during the progress on the construction of the project. The actual EMI payment will be started only after his/ her possessing the house.

  10. What are the various interest rates offered on home loans?

    Interest rates offered vary for women borrowers and others. Women borrowers are offered home loan at lower interest rate in RBL Bank.

  11. What is the eligibility criteria for getting RBL Bank home loan?

    The eligibility criteria for RBL Bank Home Loan is as follows:

    BasisSalaried CustomersNon Salaried Customers
    AgeMinimum 24 years & Maximum 60 YearsMinimum 24 years & Maximum 65 Years
    IncomeRegular source of income is neededRegular source of income is needed
    Job/ Business Experience1 Year2 Years
    Age of Co-applicantMinimum 18 yearsMinimum 18 years
  12. Can joint-applications be made for RBL Bank Home Loans?

    RBL. Joint applicants can be made for RBL Bank Home Loans.

  13. Do I have the option to structure my loan as partly fixed or partly floating?

    RBL, you can structure your RBL Ltd. Home Loan as Partly Fixed or Partly Floating as per your needs.

  14. What are the maximum number of properties that I can own?

    You can own as many properties as you want.

  15. What is a down payment?

    Down payment is the amount that is paid by the borrower on an up-front basis. Banks usually pay around 75% to 85% of the cost of the property, hence the rest amount the borrower needs to pay as down payment.

  16. What is the average tenure of a home loan?

    Home loans average tenure ranges generally between 3 and 25 years.

  17. Can I pre-pay my RBL Bank home loan? Is there any penalty?

    RBL. You can pre-pay your RBL Bank home loan with nil penalty for floating rate home loan.

  18. What security do I need to furnish for RBL Bank home loan?

    The property purchased out of the loan is taken by RBL Bank as the security. However, if RBL Bank feels then it can ask for additional securities too.

  19. Who is an NRI?

    NRI or Non Resident Indian is a citizen of India or a foreign national of Indian origin living outside India for the purpose of employment, business or any other vocation, which would indicate his intention to stay outside India for an indefinite period of time. An Indian would also be termed as an NRI if his stay in India is less than 182 days.

  20. What is the mode of payment for NRI home loans?

    Generally, payments are made through NRI Account like NRO, NRE, NRNR and FCNR accounts. NRI home loan can be paid by way of direct remittances from abroad through normal banking channels or from other financial accounts as may be permitted by RBI.

  21. What kind of job makes me eligible for RBL Bank home loan?

    You can either be a salaried employee or self-employed for obtaining this loan. However, the only condition is that you should be earning a regular income and should be able to furnish proofs of the same.

  22. What is the tax benfits available on RBL Bank home loan?

    As per Section 80C of the Income Tax Act, in case of the principal amount, you can claim a deduction of upto Rs 1.5 lakhs while in case of interest, it is upto Rs. 2 lakhs.

  23. Are long-term home loans beneficial or short-term loans?

    It dependes on the financial status of the borrower. If he wants lower EMIs then Long-term loans, if not, then he can go with short-term loans with higher EMIs with the benefit of lesser interest.

  24. Do I have to pay only fixed rate of interest or floating rate is also there in RBL Bank Home Loan?

    No, you have the option to choose any kind of rate of interest you want to pay. You can pay floating rate of interest which is linked with the MCLR and keeps changing from time to time.

  25. My EMI is increased due to an increase in the rate of interest being it flexible. What do I do for lower EMI?

    EMI increases with the increase in the rate of interest if you have opted for floating rate. You may ask your bank for increasing the loan tenure, if you want to get your EMI reduced or you can make some part pre-payment to your bank for reduction in EMI.

  26. What are different modes of payment of EMI of RBL Bank Home Loan?

    The EMI can be paid through various modes such as Post dated cheques, Electronic Clearing Service (ECS), Standing Instruction (SI), etc.

  27. Can I apply for a home loan to renovate my home or flat?

    RBL, you can apply for home loan for any purpose such as buying a home, constructing a home, repairing of your home, home improvement, balance transfer and home renovation.

  28. What is the difference between EMI and Pre-EMI?

    You repay your home loan through Equated Monthly Instalments (EMI), which includes principal and interest component. EMI repayment starts from the month subsequent to the month of final disbursement. Pre-EMI is only a simple interest, which you are required to pay every month till the loan is not fully disbursed.

  29. How to get my Income Tax certificate from RBL Bank?

    Income Tax certificate will be despatched to your after the end of financial year by RBL Bank. You may also contact your nearest RBL Bank branch or your can also send a request through its website for the same.


Rbl Bank Limited Contact Details

  • BANK OFFICIAL WEBSITE - www.rblbank.com
  • CONTACT NUMBERS - 18001238040
  • EMAIL ID - customercare@rblbank.com
  • MISSED CALL NO. - 18004190610
  • CUSTOMER CARE NO. - 18001219050
  • TOTAL BRANCHES - 279
  • HEADQUARTER - Kolhapur
  • BANK ADDRESS - Mahavir, Shri Shahu Market Yard, Kolhapur - 416005, Maharashtra

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Kallappanna Awade Ichalkaranji Janata Sahakari Bank LimitedKalupur Commercial Cooperative Bank
Kalyan Janata Sahakari BankKapol Cooperative Bank Limited
Karnataka Bank LimitedKarnataka Vikas Grameena Bank
Karur Vysya BankKashi Gomti Samyut Gramin Bank
Kaveri Grameena BankKerala Gramin Bank
Khamgaon Urban Co Op Bank LtdKotak Mahindra Bank Limited
Langpi Dehangi Rural BankLaxmi Vilas Bank
Madhya Bihar Gramin BankMadhyanchal Gramin Bank
Mahanagar Cooperative BankMaharashtra Gramin Bank
Malwa Gramin BankManipur Rural Bank
Meghalaya Rural BankMizoram Rural Bank
Nagaland Rural BankNagar Urban Co Operative Bank
Nagpur Nagarik Sahakari Bank LimitedNarmada Jhabua Gramin Bank
Nasik Merchants Cooperative Bank Ltd.New India Cooperative Bank Limited
Nkgsb Cooperative Bank LimitedNorth East Small Finance Bank Limited
Nutan Sahakari Bank LtdOdisha Gramya Bank
Oriental Bank Of CommercePallavan Grama Bank
Pandyan Grama BankPaschim Banga Gramin Bank
Pragathi Krishna Gramin BankPrathama Bank
Pravara Sahakari Bank LtdPuduvai Bharathiar Grama Bank
Punjab And Maharshtra Cooperative BankPunjab And Sind Bank
Punjab Gramin BankPunjab National Bank
Purvanchal Gramin BankRajarambapu Sahakari Bank Ltd
Rajasthan Marudhara Gramin BankRajkot Nagrik Sahakari Bank Limited
Rbl Bank LimitedRupee Cooperative Bank Ltd.
Sangli Urban Co Op Bank Ltd SangliSaptagiri Grameena Bank
Saraswat Cooperative Bank LimitedSardar Bhiladwala Pardi Pepls Co Bk
Sarva Haryana Gramin BankSarva Up Gramin Bank
Saurashtra Gramin BankShikshak Sahakari Bank Limited
Solapur Janata Sahakari Bank LimitedSouth Indian Bank
State Bank Of Bikaner And JaipurState Bank Of Hyderabad
State Bank Of IndiaState Bank Of Mysore
State Bank Of PatialaState Bank Of Travancore
Suryoday Small Finance BankSutlej Kshetriya Gramin Bank
Syndicate BankTamilnad Mercantile Bank Limited
Telangana Grameena BankThe A.p. Mahesh Cooperative Urban Bank Limited
The Akola Janata Commercial Cooperative Bank Ltd., Akola.The Cosmos Co Operative Bank Limited
The Goa Urban Co Op Bank LtdThe Greater Bombay Cooperative Bank Limited
The Jalgaon Peopels Cooperative Bank LimitedThe Kapol Cooperative Bank Limited
The Karad Urban Cooperative Bank LimitedThe Mapusa Urban Coop Bank Of Goa Ltd
The Mehsana Urban Cooperative BankThe Nainital Bank Limited
The Shamrao Vithal Cooperative BankThe Surath Peoples Cooperative Bank Limited
The Thane Bharat Sahakari Bank LimitedThe Zoroastrian Cooperative Bank Limited
Tjsb Sahakari Bank LtdTripura Gramin Bank
Uco BankUjjivan Small Finance Bank Limited
Union Bank Of IndiaUnited Bank Of India
Utkal Grameen BankUtkarsh Small Finance Bank
Uttar Banga Kshetriya Gramin BankUttar Bihar Gramin Bank
Uttarakhand Gramin BankVananchal Gramin Bank
Vidharbha Konkan Gramin BankVijaya Bank
Yes BankZila Sahakari Bank Ltd

Upcoming Bank Holidays

2018 November 20 is a bank holiday in Kerala due to Milad-i-Sherif (Birthday Of Prophet Muhammed).
2018 November 21 is a bank holiday in Andhra Pradesh due to Eid Milad-un-Nabi\Eid-e- Milad (Prophet Mohhammad's Birthday)/Barawafat.
2018 November 23 is a bank holiday in Andaman And Nicobar Island due to Guru Nanak Jayanti/Kartika Purnima/Seng Kut Snem/Friday Following Eid-I-Milad-ul-Nabi.
2018 November 26 is a bank holiday in Karnataka due to Kanakadasa Jayanthi.
2018 December 03 is a bank holiday in Goa due to Feast Of St.Francis Xavier.
2018 December 05 is a bank holiday in Jammu And Kashmir due to Birthday Of Sheikh Mohammad Abdullah.

Financial Calculators

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ALL INDIA BANKS LIST
A B BANK LIMITED ABN-AMRO Bank N.V ABU DHABI COMMERCIAL BANK AIRTEL PAYMENTS BANK LIMITED
ALLAHABAD BANK American Express Banking Corp ANDHRA BANK Antwerp Diamond Bank NV
AU SMALL FINANCE BANK LIMITED AXIS BANK B N P PARIBAS BANDHAN BANK LIMITED
BANK OF AMERICA BANK OF BAHARAIN AND KUWAIT BSC BANK OF BARODA BANK OF CEYLON
BANK OF INDIA BANK OF MAHARASHTRA BANK OF TOKYO MITSUBISHI LIMITED BARCLAYS BANK
BHARATIYA MAHILA BANK LIMITED Calyon Bank CANARA BANK CAPITAL SMALL FINANCE BANK LIMITED
CATHOLIC SYRIAN BANK LIMITED CENTRAL BANK OF INDIA CHINATRUST COMMERCIAL BANK LIMITED CITI BANK
CITY UNION BANK LIMITED CORPORATION BANK DBS Bank Ltd DCB BANK LIMITED
DENA BANK DEUSTCHE BANK DHANALAKSHMI BANK EQUITAS SMALL FINANCE BANK LIMITED
ESAF SMALL FINANCE BANK LIMITED EXPORT IMPORT BANK OF INDIA FEDERAL BANK FINCARE SMALL FINANCE BANK LTD
HDFC BANK HSBC BANK HSBC BANK OMAN SAOG ICICI BANK LIMITED
IDBI BANK IDFC BANK LIMITED INDIAN BANK INDIAN OVERSEAS BANK
INDUSIND BANK JAMMU AND KASHMIR BANK LIMITED JP MORGAN BANK JSC VTB BANK
KARNATAKA BANK LIMITED KARUR VYSYA BANK KOTAK MAHINDRA BANK LIMITED Krung Thai Bank Public Co. Ltd
LAXMI VILAS BANK MASHREQBANK PSC MIZUHO CORPORATE BANK LIMITED NORTH EAST SMALL FINANCE BANK LIMITED
OMAN INTERNATIONAL BANK SAOG ORIENTAL BANK OF COMMERCE PUNJAB AND SIND BANK PUNJAB NATIONAL BANK
RBL Bank Limited SBM BANK MAURITIUS LIMITED SHINHAN BANK SOCIETE GENERALE
SONALI BANK LTD SOUTH INDIAN BANK STANDARD CHARTERED BANK STATE BANK OF BIKANER AND JAIPUR
STATE BANK OF HYDERABAD STATE BANK OF INDIA STATE BANK OF MYSORE STATE BANK OF PATIALA
STATE BANK OF TRAVANCORE SURYODAY SMALL FINANCE BANK SYNDICATE BANK TAMILNAD MERCANTILE BANK LIMITED
THE BANK OF NOVA SCOTIA THE NAINITAL BANK LIMITED UBS AG UCO Bank
Ujjivan Small Finance Bank Limited UNION BANK OF INDIA UNITED BANK OF INDIA UNITED OVERSEAS BANK LIMITED
UTKARSH SMALL FINANCE BANK VIJAYA BANK Woori Bank YES BANK
ZILA SAHAKARI BANK LTD