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RBL Bank Business Loan Interest Rate Jul 2020

RBL Bank Business Loan Interest Rates India

Last Updated 23rd Jun 2020

RBL Bank offers Business Loan starting at interest rate of 16.25%. The rates vary by loan amount, occupation and type of loan availed. Check Best Offers

Interest Rate 16.25%
Processing Fee 1.80-2.20% of loan amount
Tenure From 12 months to 36 months
Lowest EMI per lakh ₹ 3,528
Loan Amount Min ₹ 1 Lakh and Max ₹ 10 Lakh
Part Prepayment, Charges Not allowed
Early Foreclosure, Charges Allowed after 12 EMI's, NIL foreclosure charges

Co- applicant mandatory if age on login is above 60

RBL Bank Business Loan

RBL Bank offers loan to self employed and businessmen for financing the expansion or working capital requirements of their business. There are some benefits of taking loan from RBL Bank:

  • Co- applicant mandatory if age on login is above 60
  • Flexible loan repayment options upto 60 months
  • No collateral or guarantor required
  • You can foreclose your entire Business loan anytime after paying 12 EMI's at foreclosure charges - NIL foreclosure charges
  • RBL Bank has over 111 branches in India where you can avail service

RBL Bank Business Loan Interest Rate Calculator

There are multiple factors on which basis bank calculates your interest rate. Some of these factors are -

  • Loan amount: Business loan rate in RBL Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate. Bank gives loan of minimum ₹ 1 Lakh to upto ₹ 10 Lakh. Interest rate for high loan amount can be lower resulting in lower EMIs.
  • CIBIL Score: RBL Bank offers loan at higher interest rate if your CIBIL score is low or vice versa. However, to get loan from RBL Bank, your CIBIL score should be atleast 700. Higher the CIBIL Score, higher the chances of getting a loan at lowest business loan interest.
  • Revenue: RBL Bank will offer you loan at lower interest rate if you have higher monthly revenue. Bank gives loan to the borrowers whose annual turnover is at least ₹ 25,00,000.
  • Time in Business: RBL Bank offers loan at lower rates if you have significant business experience. Minimum business existence to get loan from RBL Bank is 36 months.

RBL Bank Business Loan Eligibility Criteria

Bank have a detailed criteria to determine the eligibility of a borrower for business loans. Some of the key criteria are:

Eligibility Criteria Description
Age: 25 to 65 years
Minimum Turnover ₹ 25,00,000
Business Existence (in months) 36 months
ITR (months) 12 months
Loan Amount ₹ 1 Lakh to ₹ 10 Lakh
Loan Tenure 36 months
Owned House or Place of Work Required
CIBIL Score 750 and above

RBL Bank Business Loan Eligibility Calculator

Eligibility of Business loan in RBL Bank relies on two important factor:

1.Your ability to repay the loan and
2.Your past track record in repayment of loans.

The main factors on which the eligibility of an applicant depends are

  • Age: Age plays an important role to know your eligibility and repayment capacity. RBL Bank offers loan to those who are at least 25 years old at the time of loan approval and maximum 65 years at the time of loan maturity.
  • Loan Amount: Based on the loan amount eligibility, bank gives you loan ranging from ₹ 1 Lakh to ₹ 10 Lakh. To improve chances of approval, apply for a loan amount that you can comfortably service.
  • Profitability and Revenue: Loan eligibility significantly depends upon profitability on your turnover, revenue and profitability. RBL Bank requires profit for minimum 2 years and minimum business turnover of ₹ 25,00,000.
  • Business Stability: Future business prospects and its stability is important to improve your eligibility for business loan. RBL Bank requires minimum business track record of 36 months. The bank will also look for minimum growth in sales for the last three year. A decline in sales for a certain period or below a certain limit might impact your eligibility to get loan.
  • ITR and Banking: Bank gives loan only after checking your income tax return and bank statements. Your ITR details for minimum 12 months and bank statement for minimum 6 months will be required by RBL Bank.
  • CIBIL Score: When checking loan eligibility, RBL Bank will look at the complete CIBIL report. RBL Bank will check your repayment history for all current and past loans and credit cards. Bank advise you to maintain a score of 750 and above to get loan approval.

RBL Bank Business Loan EMI Calculator

RBL Bank Business Loan EMI is a fixed amount that you pay each month towards the repayment of your loan till the end of tenure. Lowest EMI offered by RBL Bank is ₹ 0.01 Lakh per lakh loan amount. EMI of RBL Bank depends on factors like:

  • Interest Rate: Higher the interest rate, higher will be the EMI. For a 36 months loan from RBL Bank at an interest rate of 16.25% per annum, EMI will be ₹ 0.01 Lakh per Rs. one lakh loan amount. At an interest rate of 21.00% for the same loan, the EMI will be ₹ 0.02 Lakh.
  • Loan tenure: Longer the loan tenure, lesser your smonthly EMI. At interest rate of 16.25% per annum, the EMI on RBL Bank business loan would range from ₹ 0.02 Lakh to ₹ 0.01 Lakh for loan tenure ranging from 12 to 36 months.
  • Amount Borrowed: RBL Bank Loan EMI will be high if you apply for a high loan amount. For amount borrowed ₹ 1 Lakh, the EMI at 16.25% for 36 months would be ₹ 0.01 Lakh. Similarly for amount borrowed ₹ 10 Lakh, the EMI at 16.25% for 36 months would be ₹ 0 Cr.

What are the benefits of calculating business loan EMI?

  • Business loan EMI calculator of RBL Bank helps you to calculate your monthly EMI at different rate of interest
  • RBL Bank EMI calculator helps you to know your capacity to repay the loan after meeting your regular monthly expenses
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

Business Loan Products

RBL Bank offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:

Loan for Professional Use

Description

  • Loan for professional use by RBL Bank is designed to serve the working capital requirements of businesses run by self-employed professionals like chartered accounts, lawyers, or doctors amongst others.
  • The loan amount can range from Rs 10 lakhs to up to Rs 35 lakhs.
  • The loan is taken to fund short-term finance and working capital requirements.

Who is eligible?

  • The business should have been profitable for the past three years.
  • Self-employed professionals require a minimum of 4 years of post-qualification experience.
  • Annual gross receipts should be at least up to Rs 60 lakhs.
  • The loan can be taken by self-employed professionals like chartered accounts, doctors and lawyers, amongst others.
Loan for Business Use

Description

  • Loan for business use by RBL Bank is designed to serve the working capital requirements of businesses.
  • The loan amount can range between Rs 10 lakhs to up to Rs 35 lakhs.
  • The tenure of the loan can range between 12 to 36 months.
  • The loan is taken to fund short-term finance and working capital requirements.

Who is eligible?

  • The business should have been profitable for the last three years.
  • Minimum experience of five years is required in the same line of business with at least three years of minimum operations in the same city.
  • The turnover of the business should be Rs 1 crores.
  • The loan can be taken by self-employed individuals, sole proprietorships, partnership firms and private limited companies.
Loan for Business Expansion

Description

  • RBL Bank provides loan for business expansion to add to the growth of the business and to fund the working capital requirement.
  • The loan is taken to expand the business portfolio in terms of investments and assets.

Who is eligible?

  • Loan applicants are required to have a minimum experience of five years in the same business-line.
  • The business operation should be at least three years in the same city.
  • Self-employed professionals are required to have a minimum experience of four years after the qualification.
  • Business is required to have a minimum turnover of Rs 1 crores.
  • Self-employed professionals and service sector applicants are required to have gross receipts of Rs 60 lakhs.
  • The loan can be taken by self-employed individuals, self-employed professionals, sole proprietors, private limited companies and partnership firms.
Small Business Loan

Description

  • Get loan up to Rs. 10 lakh for small business requirements
  • Flexible loan tenure up to 60 months
  • No need of any collateral
  • This loan is offered to self employed to fulfill business credit requirements.
  • No collateral required

Who is eligible?

  • Self Employed Professionals and Businessmen with 3 years of business existence, current residence and business place
  • Individuals, Proprietors and Partnership Firms

Other Charges

In addition to interest rates, business loan also carry some other charges which include:

  • Foreclosure Charges- These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. RBL Bank allows prepayment of loan after paying 12 EMI’s with prepayment charges - NIL foreclosure charges
  • Processing Fee- RBL Bank asks for a processing fee of 1.80-2.20% of loan amount with applicable service tax

Documents required

  • Address proof of individual: Aadhaar Card, Voter’s ID Card, Bank statement, registry copy, rent agreement , utility bills
  • Identity proof of individual: Passport, Driving License, PAN Card, Aadhaar Card, Voter’s ID Card
  • Business existence proof: PAN, sales tax/ excise/ VAT/ service tax registration, copy of partnership deed, trade license, certificate of practice, registration certificate issued by RBI, SEBI
  • Copy of Income Tax PAN for 24 months
  • Bank statement of last 6 months

FAQs

Why to take business loan from RBL Bank?

Bank offers loan at 16.25% rate with the lowest EMI of ₹ 1,358 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your loan to RBL Bank.

What is the interest charged on RBL Bank business loan?

Interest rates on Business loan in RBL Bank are very attractive starting from 16.25% to 21.00%. Bank offer various offer for self employed professionals to get loan at very low rate of interest.

What is the lowest EMI per lakh on business loan from RBL Bank?

If you apply for loan from RBL Bank, your lowest EMI per lakh will be ₹ 1,358.

What is the minimum and maximum tenure of business loan in RBL Bank?

These loans are shorter tenure loans. You can repay your loan in a flexible period of minimum 12 months to maximum echo 36 months.

How much business loan amount I can borrow from RBL Bank?

RBL Bank offers you loan if you need a minimum amount of ₹ 1 Lakh to a maximum amount of ₹ 10 Lakh.

What is the processing fee charged by RBL Bank on business loan?

RBL Bank charges a processing fee of 1.80-2.20% of loan amount with applicable tax.

Is age an eligibility factor to get loan for business from RBL Bank?

Yes, age is an important eligibility factor to get loan as you should be at least 25 years old at loan approval time and 65 years old at loan maturity time.

What are the prepayment charges on business loan from RBL Bank?

Bank charges a fee in case you want to repay your entire loan amount before the end of tenure period. The fee charged by RBL Bank is NIL foreclosure charges .

RBL Bank Business Loan Customer Care Number, Email, Application Status, Branches
City Customer Care Number
Agra 1800-123-8040
Ahmedabad 1800-123-8040
Ambala 1800-123-8040
Anand 1800-123-8040
Aurangabad Bihar 1800-123-8040
Bangalore 1800-123-8040
Bhilai 1800-123-8040
Bhilwara 1800-123-8040
Bhiwadi 1800-123-8040
Bhopal 1800-123-8040
Bhubaneswar Cuttack 1800-123-8040
Bikaner 1800-123-8040
Chandigarh 1800-123-8040
Chennai 1800-123-8040
Cochin 1800-123-8040
Coimbatore 1800-123-8040
Dehradun 1800-123-8040
Delhi 1800-123-8040
Durg 1800-123-8040
Faridabad 1800-123-8040
Gandhinagar 1800-123-8040
Ghaziabad 1800-123-8040
Goa 1800-123-8040
Greater Noida 1800-123-8040
Gurgaon 1800-123-8040
Guwahati 1800-123-8040
Gwalior 1800-123-8040
Hyderabad 1800-123-8040
Indore 1800-123-8040
Jabalpur 1800-123-8040
Jaipur 1800-123-8040
Jalandhar 1800-123-8040
Jodhpur 1800-123-8040
Kanpur 1800-123-8040
Karnal 1800-123-8040
Kolhapur 1800-123-8040
Kolkata 1800-123-8040
Kota 1800-123-8040
Kozhikode 1800-123-8040
Lucknow 1800-123-8040
Ludhiana 1800-123-8040
Madurai 1800-123-8040
Meerut 1800-123-8040
Mehsana 1800-123-8040
Mohali Sas Nagar 1800-123-8040
Mumbai 1800-123-8040
Mussoorie 1800-123-8040
Nagpur 1800-123-8040
Nashik 1800-123-8040
Noida 1800-123-8040
Noida Extn 1800-123-8040
Panipat 1800-123-8040
Patna 1800-123-8040
Pondicherry 1800-123-8040
Pune 1800-123-8040
Raipur 1800-123-8040
Rajkot 1800-123-8040
Ranchi 1800-123-8040
Rohtak 1800-123-8040
Roorkee 1800-123-8040
Salem 1800-123-8040
Shimla 1800-123-8040
Sonipat 1800-123-8040
Surat 1800-123-8040
Trichy 1800-123-8040
Udaipur 1800-123-8040
Vadodara 1800-123-8040
Varanasi 1800-123-8040
Vijaywada 1800-123-8040
Vizag 1800-123-8040

RBL Bank Business Loan News - Jul 2020
  • 2019-07-11 : RBL Bank plans to raise 150  million dollars in debt funding from IFC to augment its growth in MSME segment
    RBL Bank is planning to raise 150 million dollars in debt funds from International Finance Corporation (IFC). Out of the total funds, about 100 million dollars would be used to support the lender to expand its micro, small and medium enterprises (MSME) and individual business loans portfolio in the cities where there is less or no access to financial credit.
  • 2019-04-23 : Wirecard expands partnership with RBL Bank to further drive financial inclusion
    Wirecard, the global innovation leader in digital financial technology has joined hands with RBL Bank to promote financial inclusion in India. The partnership will enable digital payments and banking transactions more readily accessible to all the Indian citizens including to those who live in remote areas. Consumers linked to Wirecard’s retail agents network can now easily make cash withdrawals, deposits and balance enquiries easily at their convenience. Besides this, the lender also has plans to achieve significant growth across its business loans this year.
  • 2019-01-11 : RBL Bank signs MoU with Nasscom to offer customised credit to MSMEs
    RBL Bank has signed a MoU with Nasscom to provide customised credit solutions to micro, small and medium enterprises (MSMEs). The collaboration between them will help to serve the requirements of the MSME sector in extending financial support and credit facility.
  • 2018-10-22 : RBL maintains MCLR rates
    Ratnakar Bank (RBL) has maintained MCLR for the month of October. The rates continue to be in the range of 9.25% to 10.35%. The new rates for Six months MCLR is now at 9.75% and that of one year is 10.00%. The revised rates are effective from October 22, 2018.
  • 2018-09-25 : RBL hikes MCLR by up to 15bps
    RBL has increased its lending rates by up to 15 basis points (bps) across all tenures up to three years. RBL lending rates range from 9.25% to 10.25% which previously were in the range of 9.10% to 10.15%. The new rates are effective from 22nd September 2018.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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