RBL Bank Loan Against Property

No part pre-payment charges for individuals who have availed the loan for non-business purposes.

For individuals who have availed the loan for business purposes /non-individual borrowers/loans at a fixed rate of interest, no pre-payment charges will be collected for a pre-payment up to 15% of the principal outstanding in the loan at the beginning of the financial year.

For a part pre-payment above 15% of the principal outstanding in the loan account at the beginning of the financial year, pre-payment charges at 3% of the pre-paid amount will be charged.

No foreclosure charges for a loan availed by individuals for purposes other than business purposes. For a loan availed by individuals for business purpose, loan availed by non-individuals and a fixed-rate loan, foreclosure charges will be 5% of the outstanding balance in the loan account if closed before 12 months from the date of disbursement and 3% of the outstanding loan amount if closed after 12 months.

For overdraft limit foreclosure charges at 5% of the active limit will be collected if closed within 12 months and 3% of the active limit will be collected if closed after 12 months.

The loan can be utilized for any personal needs like debt consolidation, renovation/

Repairs of the existing property, for medical expenses, for planning a wedding, for a foreign trip, for the higher education of children, etc and also for business purposes like a working capital requirement, for business expansion, etc

A loan will be provided up to 10.00 Crores depending upon the income,  
repayment capacity and the market value of the property and can be proceed through RBL Loan Pay.

The maximum quantum will be up to 75% of the value of the property with a maximum of 10.00 Crores.

Processing charges

At 1.25% of the loan amount.

Part Pre-payment charges

No part pre-payment charges for a loan availed by individuals for non-business purposes.

For a loan availed by individuals for business purposes, loan availed by non-individuals, loan at a fixed rate a pre-payment is allowed with no charges up to 15% of the outstanding principal balance in the account at the beginning of the financial year and for a part pre-payment above 15% of the outstanding balance a pre-payment fee at 3% of the pre-paid amount will be collected.

Foreclosure charges

No foreclosure charges for loans availed by individuals for non-business purposes.

For loans availed by individuals for business purposes, loan availed by non-individuals and for a loan at a fixed rate, foreclosure charges will be collected at 5% of the outstanding balance if the loan is closed before 12 months and at 3% of the principal amount if the loan is closed after 12 months.

Processing charges:

At 1.25% of the active limit.

Foreclosure charges

At 5% of the active limit if closed within 12 months and 3% of the active limit if closed after 12 months.

• Salary Slips for the last 3 months
• Form 16 issued by the employer and ITR for the last 2 years
• Bank statement for the last 6 months of the salary account.

• Audited Balance Sheet and P & L Account for the last 3 years
• ITR with income computation for the last 3years.
• Bank Account Statement for the last 6 months of the main account and for the last 3 months for all other accounts appearing in the Balance Sheet.
• Qualification certificate in the case of doctors, engineers, architects, advocates, etc

• Partnership deed in the case of Partnership Firm.
• Certificate of incorporation.
• Memorandum of Association.
• Articles of Association.
• Share holding pattern in the case of Private Limited and Public Limited Companies.