You can easily apply online and quickly avail a RBL Bank Personal Loan to meet your fund requirements for any financial emergency or personal expenses. Offered for amounts starting from Rs. 1 lakh, RBL Bank offers personal loans up to Rs. 20 lakh with flexible repayment tenure that goes from 12 to 60 months. What’s more, the RBL Bank personal loan documents required list is short making it a popular choice among those seeking hassle-free loan disbursals.
RBL Bank Personal Loan Documents Required
RBL Bank currently offers personal loans only to salaried individuals. If you are self-employed you will need to opt for a business loan from RBL Bank. The following is a short list of personal loan documents that are required from salaried applicants as part of the application process.
- Completely filled out application form with recent colour photograph of applicant
- PAN Card copy
- Proof of Identity and Age (any one): Aadhaar Card, Voter ID Card, Driving License
- Proof of Address (any one): Aadhaar Card, Driving License, Voter ID Card, Utility Bills- Telephone/Mobile/Electricity (not more than 60 days old), Driving License
- Latest 3 month’s salary credit bank statements
- Salary slip for loan:
|< 7.5 lakh||1 latest salary slip|
|> 7.5 lakh||2 latest salary slips|
Things to Remember Before Applying for a Personal Loan
- Credit score: A credit score is a 3- digit number that is a reflection of your past repayments and indicates a lender about your creditworthiness. Therefore, a poor credit score can be the reason for the rejection of your personal loan application and a good credit score can help you to get a personal loan at a low interest rate
- Know your eligibility: Before applying for a personal loan with a lender, check if you are eligible. As, if you apply without checking the eligibility, your application may get rejected and your credit score may go down by a few points
- Compare before you choose: If you want to have an affordable and stress- free repayment period, it is important to compare personal loan offers from various banks at Paisabazaar and then select the lender that offers you the lowest interest rate and meet your requirement to the best
- Evaluate your repayment ability: The easiest way to evaluate your repayment ability is through Paisabazaar Personal Loan EMI Calculator as the calculator gives you an estimate about the EMIs for a particular loan amount
- Reduce outstanding debt: To increase your chances of approval for a personal loan, it is important to maintain low credit utilisation ratio by reducing outstanding debt. Thus paying off some and preferably all of your existing debt will increase your chances of being approved for new credit
Q1. Can I apply for a personal loan from RBL Bank if I don’t have a PAN Card?
No. RBL Bank requires applicants to provide a copy of their PAN Card when they apply for a personal loan.
Q2. Which proof of income is valid for RBL Bank personal loans?
Salary slips and Bank Account Statement(s) are the common documents that are generally required by RBL Bank to apply for a personal loan. However, the bank may require additional documents as deemed necessary depending upon the person’s individual applicant profile.
Q3. Is it possible to get a personal loan from RBL Bank without documents?
Yes, if you have a pre-approved or instant personal loan offer from RBL Bank.
Q4. Are my original KYC documents needed to apply for a personal loan from RBL Bank?
No, usually only self-attested copies of your KYC documents needed to apply for a personal loan from RBL Bank. It is however, recommended that you have your original documents handy in case RBL Bank needs to cross-check the copies with original documents when you apply for a personal loan.
Q5. Is my employee ID card needed to apply for a personal loan from RBL Bank?
No. You need not not submit your employee ID card to get a RBL Bank personal loan.