Major Features of RBL Bank Personal Loan

RBL Bank personal loan is a new entrantin the world of unsecured loans. Unlike the other available loans, this loan has some unique features of its own. You should take some time and understand these features before going for a loan from RBL Bank. The purpose of this article is to guide you on how you can go about a personal loan application.

Features of RBL Bank Personal Loan

• The personal loan offered by RBL Bank can be used to meet any of your personal needs.
• RBL Bank personal loan has an extensive range of loan products such as home equity loans, refinanced mortgages, medical expenses, travel expenses, education expenses, purchase of a car, and business expense accounts.
• The RBL Bank personal loan is available at a fixed interest rate.
• To find out the interest rate offered at RBL Bank, you can calculate it with the help of APR.
• RBL personal loan has some flexible terms and conditions.
• It is easy to get a loan at a competitive interest rate.
• You can pay off the loan easily within the given time.
• The terms and conditions of RBL Bank personal loans are quite different from other Banks’ personal loans.
• You need not give any collateral to the RBL Bank to approve your loan.
• RBL personal loans do not have any early payment penalties or redemption charges.
• RBL personal loans are issued quickly.
• The entire processing takes place very quickly.
• The Bank prepares all the documents and then deposits the loan into your account.
• You can easily make the payments for the personal loan from your Bank account.
• If you are a homeowner then you will easily avail of the RBL Bank loan without any hassle.
• If you are a tenant then you may face some problems in getting a loan. In case if you are a non-homeowner, you will be charged a high-interest rate. In case if you are a homeowner, you will enjoy a low-interest rate on your loan.
• RBL Bank offers personal loans with no PMI or personal mortgage insurance.
• RBL personal loan does not attach any PMI premiums.
• RBL is the only Bank in the UK that provides this facility. So, if you are in the UK and looking for an instant cash advance then an RBL loan is the best option.
• The best thing about RBL personal loan is that it comes at a cheap interest rate and the repayment period is long.
• If you are looking for an instant cash advance and have an active checking account in RBL then you can get the best deal.
• RBL personal loans can also be transferred into your account.
• RBL personal loan is offered to all types of borrowers.
• RBL offers secured personal loans for homeowners, tenants, non-homeowners, and those who are unemployed.
• RBL has a very reasonable interest rate for its loan. These personal loans are available at competitive rates.
• RBL is not offering any personal loans directly to the individuals. However, if you want to apply for the loan then you can directly fill the online application form and your request will be considered.
• If you are approved for the loan then the money will be deposited into your account.
• RBL personal loan has a very low-interest rate and it is very easy to pay off the loaned amount.
• The repayment period is also very flexible, so you can budget the interest cost and repayment time.

Process of RBL Bank Personal Loan Application

• RBL’s online application procedure is easy and fast. You need to fill the online application form with the required details.
• After the application is being reviewed by the lender; you will receive the approval notice. Then you can easily arrange the personal loan amount with the credit card company of your choice.
• RBL personal loan has a very reasonable interest rate.

RBL Bank Personal Loan EMI Calculator 

RBL Bank personal loan EMI calculator can also one of the great features of RBL Bank personal loan. All you need is three things:

• Loan Amount
• Rate of Interest
• Loan Repayment Tenure

Along with the result, you will also get to see the graphic representation depicting the EMI details for a better understanding.

Conclusion

Lastly, the good thing about the RBL personal loan is that you can repay the loaned amount on an installment basis. The interest rate is a bit higher than the other personal loans but you can easily make the monthly payments. If you are planning to buy a house or a car with the money from a personal loan then it would be a wise idea. RBL Bank is not facing any problem concerning the repayment of the loaned amount.