RBL Bank Home Loan Interest Rates

4.5

RBL Bank, formerly known as Ratnakar Bank, is headquartered in Mumbai. The bank provides home loans for a maximum tenure of 25 years, which amounts to INR 10 crores. The bank has not disclosed the competitive RBL Bank home loan interest rate. Salaried and self-employed individuals can avail of the loans.

  • Home Loan offer for You

  • 9.1% - 11.55%

    Interest Rate (p.a.)
  • ₹1L - ₹10Cr

    Tenure(1 - 25 Years)
  • ₹2,081 - ₹2,202

    EMI Per Lakh
  • Home Loan offer for You
  • 9.1% - 11.55%

    Interest Rate (p.a.)
  • ₹1L - ₹10Cr

    Tenure(1 - 25 Years)
  • Up to 2% of loan amount

    Processing Fee

Compare RBL Bank Home Loan Interest Rates with Other Lenders

RBL Bank home loan interest rates comparison has been drawn in the table below to allow the borrowers to analyse and choose the best-suited lender conveniently.

  • Starting Interest Rate (p.a)
  • Processing Fee
  • Rating
  • Min. Loan Amount
  • 5 Lac
  • 20 Cr
Years
  • 5
  • 30
%
  • 6
  • 20

Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹10,00,000

Interest Payable

Total Amount Payable

RBL Bank Home Loan Interest Rates 2024

RBL Bank offers two types of home loans to salaried and self-employed individuals. Even though the bank has not disclosed its home loan interest rates, they assure its customers of competitive rates. The loans are available for a tenure of up to 25 years for a loan amount of up to INR 10 crores. A borrower will have to approach the bank’s branch or apply online to get their quote of RBL Bank home loan rate of interest.

RBL Bank Home Loan Highlight

The following table lists the highlights of the home loan offered by RBL Bank:

Scheme Amount Tenure
Affordable Housing Loans Up to INR 30 lakhs Up to 20 years
Home Loans Up to INR 10 crores Up to 25 years

RBL Bank Home Loan Interest Rate and Other Charges

The fees and charges levied by the RBL Bank on home loan schemes are given in the table below:

Attributes Fee / Charges
Processing Fees
  • Upto 30 lakhs: 1.5% or 10000, whichever is higher
  • Above 30 lakhs: 1% or 15000, whichever is higher
Application Fees INR 2500 + GST
Late EMI Charges 2% per month on EMI overdue
Part-Payment Charges
  • NIL for Floating rate loans. 
  • 2% on Principal Outstanding for fixed-rate loans
Foreclosure Charges
  • Term Loan Fixed Rate: 2% on principal outstanding
  • Term Loan Floating Rate: For individual borrowers: NIL
Switch Charges 2% of the loan amount outstanding
Conversion Charges 0.5% of the loan amount outstanding
Repayment Swapping Charges  INR 250 + GST
For the Issuing of Duplicate Interest & Principal Certificate / NOC / No due certificate INR 250 + GST per request
Instrument Return Charges or Bounce Cheque INR 250 + GST every time
Charges for CIBIL report INR 50 + GST every time
Loan cancellation / Rebooking  INR 2000 /- +GST (additionally franking/stamping norms as per actuals if applicable)
Document retrieval charges (per advice Photocopy/scanning, etc.) NIL
Registration & Stamp duty on Agreement At Actuals 
Equitable Mortgage Creation Charges At Actuals 
Legal, Title search, Repossession & Incidental charges As per State Actuals

Note: The above-mentioned fees and charges are dated January 13, 2023

How to Calculate RBL Bank Home Loan Interest?

An individual can use the RBL Bank home loan interest rate calculator to simplify calculating the RBL Bank home loan interest rate. The calculator gives an accurate result and can be used multiple times. However, an individual can also manually calculate the interest rate using the formula below:

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Here,

  • ‘P’ stands for the Principal amount
  • ‘R’ stands for the interest rate
  • ‘N’ stands for tenure

Why are RBL Bank Home Loan Interest Rates the Best for Customers?

RBL Bank is a well-known bank in India and provides various housing finance options to meet various customer needs. The home loan rate of interest at RBL Bank is competitive. Furthermore, housing finance is available for salaried employees, self-employed individuals, and business professionals based on eligibility criteria, with flexible repayment terms of up to 25 years. When you apply for RBL Bank’s home loans, you will receive lower interest rates than other lenders and save significantly on processing and other fees.

RBL Bank Home Loan Interest Rates for Existing Customers

Customers who have accounts with RBL Bank benefit from being a trusted account holder. As a result, customers have a better chance of getting their loans approved. Furthermore, this can assist customers in obtaining a pre-approved loan quote. It must be noted that RBL Bank has not disclosed home loan interest rates for existing customers.

Factors that affect RBL Bank Home Loan Interest Rate and EMI

Being aware of the factors that influence RBL Bank Home Loan interest rates and EMIs can help a customer choose loan policies with caution. These interest rate influencing factors can also improve creditworthiness, reduce EMIs, plan finance, and much more. Some of the most important factors influencing the home loan interest rate in RBL Bank are discussed below:

  • Whether the interest rate is flexible, floating, or a combination of the two.
  • Central bank interest rate policies on the open market.
  • Home appraisal and loan-to-value ratio.
  • The property's location and condition.
  • Repayment time frame
  • The applicant's creditworthiness.
  • The applicant's repayment behaviour.

Frequently Asked Questions (FAQs)

What's the interest rate for RBL Bank?

RBL Bank has not disclosed the interest rate of home loans.

What is the current rate of interest on the RBL Bank home loan?

RBL Bank has not disclosed the current interest rate of home loans.

Does RBL Bank provide 90% home loans?

Yes, RBL Bank provides 90% of home loans.

How can I reduce my RBL Bank home loan interest rate?

Borrowers can increase their repayment tenure, improve their credit rating and pay their EMIs on time to reduce their home loan interest rate.

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