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RBL Bank Home Loan Interest Rates 2021

RBL Bank Housing Loan Interest Rate -Today

Last Updated 19th Jul 2021

Current RBL Bank Home Loan interest rates Jul 2021 starts at 9.50% p.a. for a maximum tenure of 25 years. The processing fee on its housing loans is Upto 1.50%.

Loan AmountRatnakar Bank Home Loan Floating Rate
Upto ₹ 25 Lakh10.20%
₹ 25 Lakh - ₹ 75 Lakh10.20%
₹ 75 Lakh - ₹ 2 Cr9.50%
Above ₹ 2 Cr9.50%
Apply for Home Loan @ 6.65%* Get upto ₹ 1,000* Cashback

Current RBL Bank Home Loan Rate

Today RBL Bank home loan interest rates are in the range of 9.50% to 10.20%, with special discounted rates for specific categories of borrowers such as women borrowers for whom the bank offers the lowest interest rate of 9.50%.

Below-mentioned are RBL Bank home loan rates for multiple housing schemes.

RBL Bank Home Loan Scheme Interest Rates
Ratnakar Bank Home Loan Floating10.20% - 9.50%

RBL Bank Home Loan Interest Rates for Salaried and Self Employed

The home loan interest rates in RBL Bank for salaried & non-salaried employee is mentioned in the table below:

Home Loan Interest Rate for Self-Employed

Loan Amount Rate
Upto ₹ 25 Lakh 10.70%
₹ 25 Lakh - ₹ 75 Lakh 10.70%
₹ 75 Lakh - 2 Cr 10.00%
Above ₹ 2 Cr 10.00%

RBL Bank Home Loan Processing Fee and Other Charges

RBL Bank home loan processing charges are upto 1.50% of the loan amount from its home loan customers to cover its expenses of conducting credit appraisal and technical evaluation of property. on home loan which is typically non-refundable and has to be paid at the time of loan application. In addition to processing fees, the bank also charges certain technical and legal charges which are explained to the customer during the loan process and are payable once the loan application proceeds further.

Processing Fees Upto 1.50% of the loan amount;
Foreclosure Charges Nil for floating rate home loans

RBL Bank Home Loan Balance Transfer Interest Rates

RBL Bank home loan balance transfer facility is ideal for existing home loan customers, who are paying high interest to their existing lender. Through this facility, you can transfer your existing home loan to RBL Bank at a lower rate of interest, without closing the account. However, you do need to check the foreclosure charges that you have to pay to your existing lender if it is a fixed rate loan. Currently, RBL Bank offers the lowest home loan balance transfer rate of 9.50%.

Illustration on Home Loan Interest Rate RBL Bank
Maximum Annual Percentage Rate (APR) 9.56% to 10.26%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: ₹ 1,00,000
  • Time period: 5 Years to 25 Years
  • RBL Bank Home Loan Interest Rate: 9.50% to 10.20%
  • Processing Fee payable to: Upto ₹ 1,500
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 874 for 25 Years ₹ 1,00,000 loan at 9.50% (lowest rate, longest time period) to ₹ 2,135 for 5 Years ₹ 1,00,000 loan at 10.20% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 9.56% to 10.26%
  • Total cost payable over loan tenure: ₹ 1,27,511 for 5 Years loan to ₹ 2,63,610 for 25 Years loan

FAQs

What is RBL Bank Home Loan Interest Rate?

RBL Bank Home Loan interest rate ranges between 9.50% to 10.20%. The salaried borrowers with high credit score and income are eligible to get lower interest rates.

Has RBL Bank reduced home loan rates?

As per the current rates, RBL Bank has cut its home loan rates by 0.7% from 10.20% to 9.50%, which is one of the best rates in the market. The new rates are effective from 06 Jul, 2021.

Why should I opt for balance transfer to RBL Bank?

RBL Bank offers lowest Home Loan EMI of ₹ 874 per lakh availed at the lowest interest rate 9.50% for a maximum tenure of 25 years. you are paying an EMI more than ₹ 874 per lakh, you should consider the option for a loan transfer to RBL Bank from your existing bank.

  • Floating rate on RBL Bank housing loan is linked to its 1 Year MCLR Rate, which is currently at 8.45%. When Bank offers a Home Loan at %, it applies a premium of -8.45% to its MCLR Rate to arrive at this Home Loan rate.
  • When RBI increases rates, the bank may increase its MCLR rate and the applicable interest rate for all existing and new Home Loans would increase. When RBI cuts interest rates and the bank reduces the MCLR rate, the benefit of lower rates will have to be passed to both old borrowers and new house loan accounts.

What is the current RBL Bank Home Loan rate?

The current RBL Bank Home Loan rate starts from 9.50% with a processing fee of Upto 1.50%.RBL Bank housing loan rate varies across the applicant’s eligibility and the scheme they opt for. RBL Bank offers different home loan rates for different home loan products.

Can RBL Bank housing loan interest rate be negotiated?

Yes, if you have a good relationship with the bank and a high credit score, you can negotiate with RBL Bank to lower the home loan rates.

What are the interest rates of home improvement loans in RBL Bank?

You can avail of RBL Bank home loans for home improvement at regular home loan rates starting at 6.65%.

Can RBL Bank revise the home loan interest rates for their existing customers?

RBL Bank home loan rates change for the existing customers if they have availed home loans at a floating rate of interest. The floating interest rates on home loans vary as per the change in market trends or in external benchmark rates such as the repo rate.

Does RBL Bank offer a concessional home loan interest rate for women?

Yes, RBL Bank offers special home loan interest rates for women. As against RBL Bank home loan rates for male which is 9.50%, the home loan interest rate for women starts at %.

What is the RBL Bank home loan rate of ₹ 25 Lakh for 15 years?

RBL Bank home loan varies as per the loan amount. For home loan upto ₹ 25 Lakh, RBL Bank provides home loan interest rate starting at 6.65%.

At what interest rate does an RBL Bank employee get a home loan?

RBL Bank offers concessional home loan rates of about 1% than the current home loan rates to RBL Bank employees.

Is RBL Bank home loan a floating rate loan or fixed-rate loan?

RBL Bank home loan is offered at both fixed and floating rate. In the case of the fixed rate, the interest remains the same whereas in the case of the floating rate the home loan rates keep varying according to the market.


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RBL Bank Home Loan News - Jul 2021
  • 2021-06-24 : Revised MCLR for RBL Bank
    RBL Bank revised its MCLR. The overnight MCLR is 7.75%. The rate for one month and three months is 7.80% and 7.85% respectively. Further, the MCLR for six months and one year is 8% and 8.45%. The revised rates are effective from 22 June 2021.
  • 2021-03-09 : RBL Bank planning branch expansion
    RBL Bank plans aggressive branch expansion over the next few years and target to open at least 75 new branches annually. The expansion will help the bank to increase its loan and deposits portfolio.
  • 2021-01-28 : RBL Bank posted a Q3 net profit of ₹147 crore
    RBL Bank reported a 110% rise in its net profit year-on-year at ₹147 crore in the quarter ended December 31, 2020. In the corresponding quarter, the bank posted a net profit of ₹6,995 crore. The bank’s total revenue backed by home, personal, car, two-wheeler and gold loans along with business and mudra loans grew by 6% year-on-year to ₹1,488 crore .
  • 2020-10-30 : RBL Bank Q2 net profit surges to ₹144 cr
    RBL Bank reported almost a three times increase in profit in the quarter ended September backed by retail loans like home, personal, car, two-wheeler and gold loans along with business and mudra loans. Further, Net profit rose to Rs 144 crore in the quarter ended September 2020 up from Rs 54 crore a year earlier supported by 23% growth in retail advances year on year even as wholesale advances continued to shrink.
  • 2020-07-29 : RBL Bank posted a net profit of Rs. 141. 22 crores for June quarter.
    RBL Bank reported a net profit of ₹ 144 crores for Q1 FY 2021 against loss of Rs. 3,801 crores for Q1-FY 2020. NII aided by home, personal, gold, car and two-wheeler loans along with business and mudra loans stood at Rs. 1,773 crores. Further, Cost of Deposit which includes FD and RD improved by 64 bps to 4.65% and CASA increased to ₹ 1,04,315 crore as on June 30, 2020
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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