RBL Bank Personal Loan of 40000

Get in Touch for Personal Loan Expert Advice
Connect with our Personal Loan Advisor Now!
  • Personalized Personal Loan solutions
  • Expert guidance
  • Application assistance
  • Credit score discussion
  • Personal Loan Interest rate comparison
+91
Choose City

Written By
Hepson Franklin
Hepson Franklin
Hepson Franklin is a seasoned financial expert and accomplished writer specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & loan products. With a wealth of experience in the financial industry, he has established himself as a trusted voice, providing invaluable insights and guidance to both seasoned investors and those new to the world of finance. With a comprehensive understanding of the intricate facets of the financial landscape, he is dedicated to demystifying complex financial concepts for readers of all backgrounds.
Reviewed By
Amit Prakash Singh
Amit Prakash Singh
Co-Founder, Square Yards & Chief Business Officer, Urban Money
Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

RBL Bank personal loan ₹40,000 is an ideal credit option to meet your small-scale financial requirements. As it falls under the collateral-free credit option, you can obtain the required loan amount without pledging your assets as collateral or security. Once you have submitted the loan application, you can expect to receive the fund in as little as 24 hours. The bank can disburse the cash on time if you need funds to cover unexpected medical emergencies, short-term educational fees, or even small home improvement projects. Eligible applicants can avail of competitive interest rates, flexible repayment options, minimal eligibility criteria, and more. To make your financial life less difficult, Urban Money presents key details you might know before initiating your loan application. Let’s scroll down to know more.

Personal Loan Options for ₹40,000 in RBL Bank

An instant ₹40,000 loan from RBL Bank is a multi-purpose credit option, allowing you to apply any of your personal needs, such as : 

  • Medical Emergencies
  • Automotive Repair
  • Debt Consolidation
  • Home Renovation
  • Planning holiday
  • Conduct personal events   

Features of Bank ₹40,000 Personal Loan

Let’s examine the applicable features on a ₹40,000 personal loan instant fund disbursement: 

  • You can have your loan approved in 1 day.
  • You do not need to pledge any security or collateral.
  • You can enjoy attractive interest rates, starting from 14% per annum.
  • You can avail of a digital application process and minimal documentation.
  • You can choose your preferred repayment tenure from 12 months to 60 months.
  • You can use the loan amount for any of your needs without disclosing the details to the bank.

Can I Get a ₹40,000 Personal Loan Instantly From RBL Bank?

Getting an RBL Bank personal loan ₹40,000 is now faster than ever with Urban Money. Urban Money is an online fintech platform partnering with over 50 leading lenders across India. You can compare all the available credit options and apply for the one that perfectly aligns with your needs and preferences. As a result, you can expect the funds to be credited to your designated bank account in as little as 24 hours.  

What Is the EMI for ₹40,000 Loan?

Let’s examine the expected ₹40,000 personal loan EMI, with loan tenures ranging from 1 year to 5 years: 

Loan Amount Interest Rate Loan Tenure EMI Amount Interest Payable Total Amount Payable
₹40,000 14% p.a. 1 year ₹3,591 ₹3,092 ₹43,092
₹40,000 14% p.a. 2 years ₹1,921 ₹6,104 ₹46,104
₹40,000 14% p.a. 3 years ₹1,367 ₹9,212 ₹49,212
₹40,000 14% p.a. 4 years ₹1,093 ₹12,464 ₹52,464
₹40,000 14% p.a. 5 years ₹931 ₹15,860 ₹55,860

Eligibility Criteria ₹40,000 Loan in RBL Bank

₹40,000 personal loan eligibility in RBL Bank is as follows: 

Age Limit 25 to 60 years
Employment Status Salaried/Self-employed
Income requirement  ₹40,000 per month 
Work Experience  At least 3 years of work experience, with 1 year at the current job. 
Nationality  Indian 

Documents Required ₹40,000 RBL Bank Loan

₹40,000 personal loan documents in RBL Bank are as follows: 

Proof of Identity Aadhaar card, PAN card, passport, driver’s license, etc.
Proof of Residence  Utility bills, ration card, or voter’s ID
Proof of Income  Last 2-month salary slips

How to Apply for ₹40,000 Personal Loan From Urban Money?

To apply for an RBL Bank personal loan of ₹40,000, you need to follow the simple steps given below: 

  • Visit the official Urban Money website.
  • Click “Loan” and then choose the “Personal Loan” option.
  • You’ll be taken to a page titled “Personal Loan.”
  • Scroll down to see a list of top banks in India.
  • Find “RBL Bank” and click the “Apply Now” button.
  • A short online form will pop up on your screen.
  • Fill in your name, mobile number, and city.
  • You’ll receive a 6-digit OTP on your phone.
  • Enter the OTP and hit the “Submit” button.
  • A loan specialist from our team will reach out to you shortly.

Personal Loan By Banks

Frequently Asked Question (FAQs)

How long does it take for RBL Bank to approve ₹40,000 personal loans?

The bank ensures the eligible applicant can expect the funds within the same business day or the next.

What are the interest rate ranges for RBL Bank's ₹40,000 personal loans?

14% to 23% p.a. is the applicable interest rate for an RBL Bank’s ₹40,000 personal loans.

Can I apply for an ₹40,000 RBL Bank personal loan online?

You can apply for a ₹40,000 RBL Bank personal loan online through the Urban Money official website.

Are there any hidden charges in RBL Bank’s personal loan agreements?

Besides interest rates, RBL Bank’s personal loan involves various fees such as foreclosure charges, late payment fees, cheque swapping fees, and loan cancellation fees. Thus, it’s prudent to thoroughly examine the terms and conditions before finalising your loan agreement.

Urban Money