RBL Bank

RBL Bank

Bank Name
Interest Rate Range
Processing Fee Range
Loan Amount
Tenure Range

Rate of Interest

  • Floating Rate of Interest : 10.35 % to 10.85 % p.a.

Eligibility Criteria

  • Minimum 21 years of age and maximum 60 years
  • Loan period from 1 year  to 7 years
  • Should be either salaried or self-employed and have regular source of income
  • Should have sufficient income to pay EMI on required loan
  • Applicant must be Indian Citizen, in case of NRI or person of Indian origin it should be properly documented

Fees and Charges

  • Processing  Fee 1 %  of loan amount depends on type and category of borrower
  • Preclosure Charges – Rs 0
  • Part Payment charges- Rs 0
  •  No any other hidden charges

Documents Required

  • KYC- Pan Card, Adhar Card, ID Proof and Address proof
  • ITR with computation for 3 years with Income proof
  • Bank Statement
  • Photograph
  • 2 references

Value Additions

  • Doorstep services
  • E- approvals
  • Part payment allowed

Special Feature

  • No guarantor required
  • No pre-closure or part payment fees
  • Balance Transfer Allowed
  • Top up available

Overview about RBL Bank

RBL Bank Limited is a scheduled Commercial Bank. Its  headquartered in the Kolhapur region of Maharashtra. It was founded in August 1943. RBL is one of the oldest private sector banks in India. RBL banks offers a range of banking products  services categorized it is largely in 5 verticals.RBL bank. It  is giving you the opportunity to get a car loan at an affordable rate of interest.RBL Bank new car loans are a perfect solution to fulfil your dream car requirement. You can focus on living a comfortable life while they take car of financing your liquidity needs.

Your Eligibility depends on following

You should be minimum 21 years old

You should be maximum 60 years old

You should be salaried or self employed

You should have sufficient income to pay EMI on required loan

You can increase your eligibility by doing following

Minimum income required Rs.25,000 per month
EMIs of other loans lower your eligibility
Pay off your credit card bills
Choose longer tenure loan up to 7 years

Rate of Interest and Other Charges for New Car Loan are following

Rate Of Interest Of RBL Bank Car Loan:


Loan Type

Interest Rate


New Car Loan (Floating)

10.35%  to 10.85%


New Car Loan (Base Rate)


Existing Loan take over or New Loan

Here are some points that you can know why you should take car loan from RBL Bank

  • In RBL Bank you can take Up to 100% funding available for new cars.
  • Here Loan period is usually between 1 to 7 years.
  • Equated Monthly Instalment (EMI) is worked out for repayment.
  • Early settlement of the pending amount is available subject to pre-payment penalty.

Features of Loan

Features and benefits of RBL Bank:

  1. New Car Loan amount ranging from Rs. 50000 up to Rs. 30 Lakhs for salaried individuals and up to Rs. 1 Crore for self-employed individuals and self-employed professionals
  2. You can avail loans for SUV, MUC, Compact Sedan, Hatchback
  3. Up to 7 years loan repayment tenure
  4. Loan To Value up to 90% of the New Car
  5. New Car loans available at attractive fixed low rates of interest

Documents Required for applying Car loan with RBL Bank

  1. Age Proof (Any one from these)
  • PAN Card
  • Passport
  • Voter ID
  • Aadhaar Card
  • School or College Leaving Certificate.
  1. Identity Proof (Any one from these)
  • PAN Card
  • Passport/Voter ID
  • Aadhaar Card
  • Driving License
  1. Residence Proof (Any one from these)
  • Passport
  • Voter ID
  • Electricity Bill
  • Telephone Bill
  • Life Insurance Policy
  1. Signature Verification Proof
  • PAN Card
  • Passport
  • Aadhaar Card
  • Any Other Documents Supporting Signature Proof
  1. Bank Statement
  • Bank Statement of Last 3-6 Months
  1. Income Proof

                  For Salaried-

  • Salary Slip of Last 3-6 Months.
  • Form 16 of Last 2 years.

                  For Self Employed-

  • ITR of Last 3 Years Profit & Loss A/C Statement
  • Audited Balance Sheet for Last 3 Years