RBL Bank Personal Loan of 1 Lakh

RBL Bank offers a personal loan facility that allows individuals to borrow up to 1 Lakh, catering to various financial needs such as emergency expenses, home renovation, or even a vacation. The RBL Bank personal loan 1 Lakh option is designed flexibly, offering competitive interest rates to make repayment easier for borrowers. The 1 Lakh loan interest rate is determined based on various factors, including the applicant’s credit history, income level, and repayment capacity. This ensures borrowers can avail themselves of a tailored financial solution that fits their circumstances. With a straightforward application process and minimal documentation, RBL Bank allows individuals to access funds quickly, providing a reliable financial solution when needed.

Personal Loan Options for 1 Lakh in RBL Bank

Make use of RBL Bank’s Personal Loan for any of the following purposes:

Home Improvements

RBL Bank offers a personal loan solution that allows homeowners to transform their dream house. Whether you want to renovate, repair, or furnish your property, this loan is designed to meet your needs. 

Wedding 

Tying the knot is a grand celebration that demands a significant financial investment. A wedding entails several expenses, from booking a venue to buying precious jewellery and covering all the festivities. You can enjoy the wedding to the fullest by relieving yourself of financial stress with a personal loan.

Education

College tuition costs can sometimes be quite high, especially if you plan to study abroad. To help with this, RBL Bank offers a personal loan option that can be used to cover the expenses of your education or your child’s education.

Vacation

If you lack sufficient savings for your dream getaway, consider considering a personal loan to finance it. By getting a personal loan, you can go to your desired location worry-free, covering fees for lodging, meals, shopping, and other things.

Features of Bank 1 Lakh Personal Loan

• The minimum loan amount for RBL Bank Personal Loan is INR 30,000, while the maximum is INR 5,00,000.
  
• Choose a repayment period between 12 and 36 months that suits your needs.
  
• Applying for an RBL Bank personal loan for 1 Lakh usually requires a streamlined process and minimal documentation.
  
• RBL Bank offers competitive interest rates.
  
• RBL Bank 1 Lakh personal loans are unsecured, meaning they do not require collateral or a guarantor. 

Can I get a 1 Lakh Personal Loan Instantly from RBL Bank?

You can request a loan of 1 Lakh from RBL Bank using the Urban Money website. Urban Money is the biggest fintech platform in India, offering various loan and credit products from over 50 lenders, including RBL Bank. You can compare all the credit choices, determine if you qualify, estimate your monthly instalments, and choose the most suitable one. Later, one of our personal loan experts will contact you to assist you throughout the application procedure until the funds are given out. Typically, you can anticipate receiving the funds within 24 working hours.

What is the EMI for 1 Lakh  Loan?

The EMI for a 1 Lakh loan at an interest rate of 18% per annum, over a tenure of 1 year, would be approximately ₹9,168.

Eligibility Criteria 1 Lakh Loan in RBL Bank

RBL Bank offers a pre-qualified personal loan only for existing savings or salary account holders with the RBL Bank. The standard eligibility criteria details are mentioned below:

• Citizenship: Only for the residents of India
• Age: 25-55 years or retirement age
• Minimum Net Monthly Income: Rs 40,000
• Work Experience: Total 3 years of experience, 1 year in current employment

Documents Required 1 Lakh RBL Bank Loan

1 Lakh personal loan documents in RBL Bank are as follows:

• Application form duly signed with a coloured photograph of the applicant
• No KYC Documents are required
• No salary slip or bank statement is required

Confirmation of the applicant’s paperwork finalises the process for all personal loan applications. RBL Bank employs a simple method to verify your details. No additional documents are necessary if you are an existing RBL Bank customer and your information remains the same. Pre-approved customers can easily access a pre-approved offer at any RBL Bank branch. Once the loan is approved, the funds will be instantly deposited into your RBL Bank account.

How do you Apply for a 1 Lakh Personal Loan from Urban Money?

The application process for an RBL Bank personal loan of 1 Lakh is outlined below:

• Visit the official website of  Urban Money (www.urbanmoney.com)
  
• Select the “Loan” category and option “Personal Loan.” This will redirect you to a webpagededicated to Personal Loans, where you can find a detailed list of leading lenders throughout India.
  
• Click the “Apply Now” button beside the ” RBL Bank logo.” This action will prompt a concise online form to appear, requiring your name, mobile number, and city to be entered.
  
• Once you provide your phone number, we will send you a unique 6-digit code. Simply enter the code and click “Submit.” Within 24 hours, a member of our loan team will contact you by phone to discuss your loan options.