Compare & Choose from the Best Business Loan Offers 
RBL Bank offers business loans to meet short-term funding and working capital requirements. Funds from the bank can be availed for business expansion purposes. The business loan interest rate offered by the RBL Bank is 17.50% – 21% p.a. and the maximum loan amount offered is up to Rs. 35 lakh with a repayment tenure of up to 36 months.
RBL Bank Business Loan – Highlights – September 2022 | |
| Interest Rate | 17.50% – 21% p.a. |
| Loan Amount | Rs. 10 lakh to Rs. 35 lakh |
| Processing Fee | 2.5% – 3% of the sanctioned loan amount |
| Repayment Tenure | From 1 year to 3 years |
| Collateral/Security | Not required |
Note: With effect from 23rd Sep 2022, Bank’s 1-year MCLR will be 9.45%.
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RBL Bank Business Loan Interest Rates
| Loan Amount | Interest Rate (p.a.) |
| Up to Rs. 25 Lakh | 20.50% |
| Rs. 25 Lakh – Rs. 35 Lakh | 19.50% |
| More than Rs. 35 Lakh | 18.50% |
Comparison of Business Loan Interest Rates offered by RBL Bank vs other Banks/NBFCs
| Lenders | Interest Rate (p.a.) |
| RBL Bank | 17.50% – 21% |
| SBI | 8.30% onwards (SME Loan) |
| Kotak Mahindra Bank | 14% onwards |
| HDFC Bank | 15.50% to 18.30% |
| FlexiLoans | 16% onwards |
| Axis Bank | 17% onwards |
| Fullerton Finance | 17% onwards |
| Bajaj Finserv | 17% onwards |
| Yes Bank | 17% onwards |
| ICICI Bank | 18% onwards |
| Lendingkart Finance | 18% onwards |
| ZipLoan | 16% onwards |
| IIFL Finance | 18% onwards |
| Hero Fincorp | 18% onwards |
| Indifi Finance | 18% onwards |
| NeoGrowth Finance | 18% onwards |
| Tata Capital Finance | 17% onwards |
| SMEcorner | 19% onwards |
| IDFC First Bank | 20% onwards |
| HDB Financial Services Ltd. | 22% onwards |
| PNB Business Loan | Based on your Business’s Profile |
| Bank of Baroda | Based on your Business’s Profile |
Also Check & Compare: Which bank offers the lowest interest rate for a business loan?
Loan Processing Fee and Charges
|
Processing Fee | · 2.5% of the sanctioned Loan amount for business loan – (Loan Amount more than Rs. 25 Lakh) · 3% of the sanctioned Loan amount for small business Loans up to Rs. 25 Lakh |
|
Foreclosure charges (EMI based product) | No foreclosure permitted until repayment of 6 EMIs. · 7 to 18 EMIs paid – 5% of principal outstanding · More than 18 EMIs paid – 3% of principal outstanding Note: The foreclosure charges are not applicable to facility sanctioned to MSEs with: a. Floating interest rate loans irrespective of the loan amount b. Fixed interest rate Loans up to Rs. 50 lakh loan amount |
| Documentation Charges | Rs. 7000 for Small Business Loans below Rs. 5 lakh |
| Cheque Bounce/Swap Charges | Rs. 250 per instance |
Appy for Business Loan starting @ 16% p.a. Apply Now
Eligible Entities
- Self-employed individuals
- Self-employed professionals
- Sole proprietorships
- Partnership Firms
- Private limited Companies, including closely-held public limited companies
Eligibility Criteria
- Applicant must be a minimum of 27 years of age while applying for a loan and the maximum age allowed at the time of loan maturity is 65 years
- Applicant must be working in this business for at least 5 years and should be in the same business for the last 3 years
- Minimum business turnover required is & Rs. 1 crore and for the Professional / Service Sector, the applicant’s gross receipts should be at least Rs. 60 Lakh
- Applicant must have either office or home registered under his/her name or jointly with a family member(s)
- Business should be profitable for the past 3 years
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Documents Required for Business Loan Application
- PAN Card – For Individual, Partnership Firm, Company
- Identity Proof – Voter’s ID card, Driving License, Passport, Aadhar Card (Any One)
- Address Proof – Voter’s ID card, Driving License, Passport, Bank Statement, Telephone & Electricity Bills, Registered Lease Deed or Sale Agreement
- Letter certifying end use of the business loan funds on Business Letterhead
- Ownership proof of either residence or office either in the name of applicant or jointly with family members
- Business Continuity Proof – Any one document dated 5 years old – Bank Statement, Sales Tax Challans, IT Returns, Shops & Est. Certificate, Certificate of Incorporation & Partnership Deed
For Self-Employed Individuals / Sole Proprietorships
- Last 2 years’ audited ITR and Financials, including Balance Sheet, Profit & Loss statement, Computation of Income along with all schedules
- Last 6 months’ bank statements from the borrower’s main account/s and last 3 months’ statement of all other bank accounts
For Self-Employed Professionals
- Last 2 years’ audited ITR and Financials, including Balance Sheet, Profit & Loss statement, Computation of Income along with all schedules
- Last 6 months’ bank statements from the borrower’s main account/s and last 3 months’ statement of all other bank accounts
- Professional Qualification Certificate and Degree Certificate for professionals (CAs, Doctors, Architects, etc.)
For Partnership Firms / Private Limited Companies
- Last 2 years’ audited ITR and Financials, including Balance Sheet, Profit & Loss statement, Computation of Income along with all schedules
- Last 6 months’ bank statements from the borrower’s main account/s and last 3 months’ statement of all other bank accounts
- Partnership Deed and partnership authority letter for partnership firms
- Memorandum and Articles of Association and Board Resolution from the company
- Certificate of Incorporation (COI) for Companies
- Latest shareholding patterns for Private and Public Limited Companies
Customer Care
| All India Toll-Free Number | 1800-123-8040 |
| Email ID | customercare@rblbank.com |
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FAQs
Q. How do I get my RBL loan statement?
Ans. To get your RBL loan statement, you need to log in to the official portal or use net banking to download the loan statement.
Q. Can I pay my RBL loan online?
Ans. Yes, you can pay your RBL loan EMIs online by using net banking services or by creating standing instructions to make a schedule for auto-debit of EMIs as per the defined due date.
Q. How to check RBL business loan status?
Ans. You shall follow the below steps to get your loan status from RBL bank:
- Step 1: Visit: https://www.rblbank.com/product/loans/business-loan
- Step 2: Fill in all the required details, such as Unique Reference Number or Application number, along with your Full Name, Type of Loan, and Registered Mobile number.
- Step 3: Click to tick the Recaptcha and further click on ”Submit”
Q. What are the options to repay my RBL business loan?
Ans. There are several options to pay your business loan in the form of EMIs, such as Post Dated Cheque (PDC), Electronic Clearing Service (ECS), and Standing Instruction (SI).
Q. Can I prepay my RBL business or MSME loan and will I need to pay any additional charge on the prepayment of this loan?
Ans. The prepayment charges levied by the bank are as follows:
- No prepayment charge up to 15% of outstanding principal in one year
- Prepayment above 15% of outstanding to be charged at 2% of the amount paid
Q. What is the minimum and maximum tenure of a business loan in RBL Bank?
Ans. The repayment tenure of RBL bank business or MSME loan ranges from 12 months to 36 months.
Q. How much business loan amount can I take from RBL Bank?
Ans. The maximum business loan amount that can be availed is up to Rs. 35 lakh.
Q. What is the processing fee charged by RBL Bank on a business loan?
Ans. The processing fee charged for MSME loan is mentioned below:
- No processing fee for MSE Loans (Loans up to Rs. 5 lakh)
- MSE Loans (above Rs. 5 lakh and up to Rs. 10 lakh) – 2.0% of Loan Amount
- Secured Loans (Rs. 10 lakh and above): 2.0% of Loan Amount
Q. Why should I calculate RBL Bank loan EMI before taking a loan?
Ans. You can fill in three basic loan details in the RBL bank’s business loan EMI calculator, such as desired loan amount, interest rate, and repayment tenure to calculate your loan EMI.