Ratnakar Loan Against Property Interest Rate Calculator - Dec 2016

Ratnakar Bank Loan Against Property Interest Rates

Last Updated 11th Dec 2016
7th Dec 2016 - RBI keeps interest rates unchanged. Repo rate stays at 6.25%. CRR at 4%. 100% CRR on fresh deposits withdrawn
Interest Rate 12.75% - 13.00%
Check Special Offers
Lowest EMI Rs. 1,249 per lakh
Max Tenure 15 years
Processing Fee Upto 1.25%
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans to individuals
Age Min 23 and Max 60 years for Salaried
Min 23 and Max 65 years for Self Employed
Apply Loan Against Property Online
 Salaried   Self Employed - Professional   Self Employed - Business 





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Ratnakar Bank Loan Against Property

Ratnakar Bank offers Loan Against Property to the customers if they need to expand their business or want money for personal use. The loan is given upto 65% of the market’s value for tenure of 18 years.

Loan Against Property Ratnakar

Loan Against Property interest rates offered by Ratnakar Bank depends upon MCLR
  • Floating rates changes with a single change in Ratnakar Bank MCLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates
Ratnakar Bank offers Property Loan based on 1 Year MCLR which is currently 10.25%
Ratnakar Bank mortgage loan interest rate depends upon
  • Loan amount: Ratnakar Bank mortgage loan rate depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • Company where you work: Ratnakar Bank has a list of companies to which they lend Loan Against Property. Interest rate will be less if your company is listed
  • Your Salary: Income helps you in identifying your rate of interest. Ratnakar Bank interest rate varies with your monthly income. Higher the income, less will the rate of interest

Loan Against Property Charges

Foreclosure Charges - These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Ratnakar Bank allows prepayment of loan against property with Individual Borrower- Nil, Others- 3% of Outstanding balance prepayment charges
Processing Fee - Ratnakar Bank asks for a processing fee of 1.25% of loan amount with applicable service tax

Ratnakar Loan Against Property EMI Calculator

Loan Against Property EMI of Ratnakar Bank is a fixed amount that you pay each month towards the repayment of your Loan till the end of tenure
  • Ratnakar Bank Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on Loan Against Property
  • You can plan your loan amount according to your monthly repayment capacity because higher the loan amount, higher will be the EMI
  • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as higher tenure reduces your EMI
What are the benefits of calculating Ratnakar Loan Against Property EMI?
  • Ratnakar Bank Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest
  • Ratnakar Bank EMI calculator for Loan Against Property helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

Ratnakar Loan Against Property Eligibility Calculator

Loan Against Property eligibility criteria Ratnakar Bank
Eligibility of Loan Against Property in Ratnakar Bank relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
  • Age: Ratnakar Bank offers loan against property for a maximum tenure of 18 years if the borrower’s age does not exceed above 60 years for salaried and 65 years if you are self employed. Apply for loan at smaller age, higher will be the chances of loan approval
  • Value of the property: Ratnakar Bank decides your loan amount based on the market value of the property which you place as your collateral for the loan. Ratnakar Bank lends less than the market value of the property. As per RBI guidelines, the borrower also has to show some contribution. Ratio of loan amount to value of home is called Loan to Value (LTV) ratio. Ratnakar Bank gives maximum LTV of 65% for property loans depending upon market value of the property
  • Repayment capacity of the borrower: Your eligibility to take loan against property depends upon the maximum EMI that you can pay. Ratnakar Bank checks your past CIBIL history, repayment record of credit cards and existing loans that can impact your loan against property eligibility. If you have any other loan running whose EMI you are paying currently, then you are supposed to close your loan to get higher loan against property eligibility. Ratnakar Bank does not specify any particular CIBIL score for being eligible for a property loan. However, it is observed that a score of 700 and above is desirable
    To reduce your burden of higher EMIs, Ratnakar Bank gives you a maximum tenure of 18 years for a maximum loan amount of Rs.100,000,000 with a minimum spread of % over 1 Year MCLR. Opt for a loan tenure that suits you and higher the loan tenure, higher will be loan amount eligibility
  • Income: Loan against property are mostly taken by the people who are self employed in order to expand their business. However, in order to increase the loan amount you may club the income of family members like your spouse, parents, children and siblings
    Business person should be in business from the past 2 years and minimum ITR of last 2years is required as proof to Ratnakar Bank
Estimated eligibility online by using Eligibility Calculator.
Popular Products:
  • Loan Against Property for Residential Use
  • Property Mortgage Loan for Commercial Use

Ratnakar Bank Floating Rate Loan Against Property

Ratnakar Bank Loan Against Property Floating
Upto Rs. 2,500,000 - 12.75%
Rs. 2,500,001 - 7,500,000 - 12.75%
Rs. 7,500,001 - 30,000,000 - 12.75%
Above Rs. 30,000,000 - 12.75% linked to 1 Year MCLR

Ratnakar Bank Loan Against Property Top up, Transfer

Transfer of Loan Against Property from another bank to Ratnakar Bank?
Ratnakar Bank offers loan against property balance transfer from another bank. This is subject to your meeting other eligibility criteria of Ratnakar Bank
You can avail additional top-up loan against property from SBI, subject to your eligibility

Loan Against Property Ratnakar documents required

Loan Against Property for Salaried employee Ratnakar Bank documents required

  • Filled up loan application form
  • 2 Passport Size Photo
  • ITR of last 2 years
  • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
  • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
  • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

Loan Against Property for Self-Employed Ratnakar Bank documents required

  • Filled up loan application form
  • 2 Passport Size Photo
  • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
  • ITR of last 2 years
  • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
  • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

Property documents for Loan Against Property from Ratnakar Bank

  • Registered Sale Deed/ Conveyance/ Lease Deed
  • Past Sale Deeds Chain (each transaction in respect of this property since first allotment
  • Latest House Tax Return/ Receipt
  • Approved Building Plan from Municipal Corporation
Past trends of MCLR of Ratnakar Bank
Date MCLR
04th Oct 16: 0.25% repo cut by RBI
25th Jun 16 10.60% decreased by 0.05%
05th Apr 16: 0.25% repo cut by RBI
16th Oct 15 10.65% decreased by 0.2%
29th Sep 15: 0.5% repo cut by RBI
02nd Jun 15: 0.25% repo cut by RBI
15th May 15 10.85% decreased by 0.15%
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
29th Oct 13: 0.25% repo hike by RBI
01st Oct 13 11.00% increased by 0.1%
20th Sep 13: 0.25% repo hike by RBI
15th Jul 13 10.90% decreased by 0.1%
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
29th Jan 13: 0.25% repo cut by RBI
17th Apr 12: 0.5% repo cut by RBI
01st Dec 11 11.00% increased by 0.25%
31st Oct 11 10.75% increased by 0.25%
25th Oct 11: 0.25% repo hike by RBI
01st Oct 11 10.50% increased by 0.25%
16th Sep 11: 0.25% repo hike by RBI
16th Aug 11 10.25% increased by 0.5%
30th Jul 11 9.75% increased by 0.25%
26th Jul 11: 0.5% repo hike by RBI
01st Jul 11 9.50% increased by 1%
16th Jun 11: 0.25% repo hike by RBI
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
17th Feb 11 8.50%
25th Jan 11: 0.25% repo hike by RBI
02nd Nov 10: 0.25% repo hike by RBI
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI

Ratnakar MCLR Vs. RBI Repo Rate Trend

Frequently Asked Questions

What are the five things to check before applying for loan against property in Ratnakar ?

  • Property on which you intend to take loan is not a vacant land, has an approved map plan and is in municipal area. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
  • Your existing EMI’s on all loans and credit cards (from Ratnakar Bank and other banks) are no more than 60 - 70% of your net monthly income
  • You have not defaulted on loans or credit card dues to Ratnakar Bank and other banks and all EMI's have been paid. Note that Ratnakar Bank can see record or status of your EMI defaults to all banks and NBFC’s in India and not just to Ratnakar Bank in your CIBIL report. Estimate your CIBIL score for free by using CIBIL score estimate calculator
  • If you are salaried, ensure that you attach your recent salary slips, bank statements and last 3 years' Form 16 with the loan applicantion
  • If you are self employed in your own business or practice, your business must have been in existence for at least three years and last three income tax returns with audited financials must be available

Will Ratnakar mortgage loan interest rate remain fixed or will it change in future?

  • Floating interest rate on Ratnakar Bank property loan is linked to its 1 Year MCLR, which is currently 10.25%. So, when Ratnakar Bank offers a loan against property at 12.75%, it applies a 2.5% premium to its MCLR to arrive at this rate
  • When market interest rates go up, the bank increases its base rate and the applicable rate for all existing loans goes up. When interest rates trend downwards, the bank has to reduce the base rate as it is not allowed to lend below the base rate. Thus, any benefit of lower rates will have to be passed to both old borrowers and new borrowers
  • Base rate benchmarked loans provide a better and more transparent interest rate transmission for the borrower compare to PLR benchmarked loans
  • Current MCLR of Ratnakar Bank, its past trend and comparison with RBI repo rate are given here for your reference

Are prepayment or foreclosure charges applicable on Ratnakar loan against property?

    You can prepay loan against property (LAP) without any penalty or charges in case:
  • Your loan is at a floating rate of interest and not at a fixed rate. Almost all loans against property are at floating rates and it is unlikely that yours is at a fixed rate of interest
  • The loan is in the name of one or more individual borrowers and none of the applicants and co-applicants is a business entity like a company or a firm or partnership or AOP

For loans from Housing Finance Companies, refer to NHB circulars NHB(ND)-DRS-Policy-Circular-63-14-15 dated Aug 14, 2014 and NHB-ND-DRS-Policy-Circular-No-66-2014-15 dated Sep 03, 2014 for more details.

Please contact myloancare at 0124 426 4004 or care@myloancare.in in case you need any assistance or clarification on this subject.

Ratnakar Bank Loan Against Property in India

Ratnakar Bank Loan Against Property Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 1800-123-8040, customercare@rblbank.com.
Ahmedabad 1800-123-8040, customercare@rblbank.com.
Ambala 1800-123-8040, customercare@rblbank.com.
Anand 1800-123-8040, customercare@rblbank.com.
Aurangabad 1800-123-8040, customercare@rblbank.com.
Bangalore 1800-123-8040, customercare@rblbank.com.
Bhilai 1800-123-8040, customercare@rblbank.com.
Bhilwara 1800-123-8040, customercare@rblbank.com.
Bhiwadi 1800-123-8040, customercare@rblbank.com.
Bhopal 1800-123-8040, customercare@rblbank.com.
Bhubaneswar Cuttack 1800-123-8040, customercare@rblbank.com.
Bikaner 1800-123-8040, customercare@rblbank.com.
Chandigarh 1800-123-8040, customercare@rblbank.com.
Chennai 1800-123-8040, customercare@rblbank.com.
Cochin 1800-123-8040, customercare@rblbank.com.
Coimbatore 1800-123-8040, customercare@rblbank.com.
Dehradun 1800-123-8040, customercare@rblbank.com.
Delhi 1800-123-8040, customercare@rblbank.com.
Durg 1800-123-8040, customercare@rblbank.com.
Faridabad 1800-123-8040, customercare@rblbank.com.
Gandhinagar 1800-123-8040, customercare@rblbank.com.
Ghaziabad 1800-123-8040, customercare@rblbank.com.
Goa 1800-123-8040, customercare@rblbank.com.
Greater Noida 1800-123-8040, customercare@rblbank.com.
Gurgaon 1800-123-8040, customercare@rblbank.com.
Guwahati 1800-123-8040, customercare@rblbank.com.
Gwalior 1800-123-8040, customercare@rblbank.com.
Hyderabad 1800-123-8040, customercare@rblbank.com.
Indore 1800-123-8040, customercare@rblbank.com.
Jabalpur 1800-123-8040, customercare@rblbank.com.
Jaipur 1800-123-8040, customercare@rblbank.com.
Jalandhar 1800-123-8040, customercare@rblbank.com.
Jodhpur 1800-123-8040, customercare@rblbank.com.
Kanpur 1800-123-8040, customercare@rblbank.com.
Karnal 1800-123-8040, customercare@rblbank.com.
Kolhapur 1800-123-8040, customercare@rblbank.com.
Kolkata 1800-123-8040, customercare@rblbank.com.
Kota 1800-123-8040, customercare@rblbank.com.
Kozhikode 1800-123-8040, customercare@rblbank.com.
Lucknow 1800-123-8040, customercare@rblbank.com.
Ludhiana 1800-123-8040, customercare@rblbank.com.
Madurai 1800-123-8040, customercare@rblbank.com.
Meerut 1800-123-8040, customercare@rblbank.com.
Mehsana 1800-123-8040, customercare@rblbank.com.
Mohali Sas Nagar 1800-123-8040, customercare@rblbank.com.
Mumbai 1800-123-8040, customercare@rblbank.com.
Mussoorie 1800-123-8040, customercare@rblbank.com.
Nagpur 1800-123-8040, customercare@rblbank.com.
Nashik 1800-123-8040, customercare@rblbank.com.
Noida 1800-123-8040, customercare@rblbank.com.
Noida Extn. 1800-123-8040, customercare@rblbank.com.
Panipat 1800-123-8040, customercare@rblbank.com.
Patna 1800-123-8040, customercare@rblbank.com.
Pondicherry 1800-123-8040, customercare@rblbank.com.
Pune 1800-123-8040, customercare@rblbank.com.
Raipur 1800-123-8040, customercare@rblbank.com.
Rajkot 1800-123-8040, customercare@rblbank.com.
Ranchi 1800-123-8040, customercare@rblbank.com.
Rohtak 1800-123-8040, customercare@rblbank.com.
Roorkee 1800-123-8040, customercare@rblbank.com.
Salem 1800-123-8040, customercare@rblbank.com.
Shimla 1800-123-8040, customercare@rblbank.com.
Sonepat 1800-123-8040, customercare@rblbank.com.
Surat 1800-123-8040, customercare@rblbank.com.
Trichy 1800-123-8040, customercare@rblbank.com.
Udaipur 1800-123-8040, customercare@rblbank.com.
Vadodara 1800-123-8040, customercare@rblbank.com.
Varanasi 1800-123-8040, customercare@rblbank.com.
Vijaywada 1800-123-8040, customercare@rblbank.com.
Vizag 1800-123-8040, customercare@rblbank.com.
Ratnakar Loan Against Property News - Dec 2016
01st Dec 16 RBL Bank launches Aadhaar based disbursement of micro loans
Ratnakar Bank has launched Aadhaar Payment Based System (APBS) scheme for micro loan disbursements. With this, RBL becomes the first bank to provide cashless disbursement of micro loans. Under the new system, the bank will transfer the loan amount directly to the Aadhaar enabled bank accounts of micro loan borrowers.
29th Nov 16 RBL Bank ties up with Bajaj Finance to launch co-branded credit cards
RBL Bank has announced a partnership with Bajaj Finance to launch a series of co-branded credit cards. The card will have many customer friendly features such as no cost EMIs, low interest rates and digital payment solutions along with other attractive offers and deals. The card will be targeted at customers who do not hold a credit card, both in metro and non metro cities.
17th Nov 16 RBL becomes first bank to bring master pass QR mobile payments to India
Ratnakar Bank becomes the first bank to bring QR code based mobile payments to India. Customers can make payments using Mastercard Masterpass QR mobile payment solutions. Bank has integrated Masterpass QR service into its mobile platform called OnGo digital wallet in conjunction with India Transact Services. The digital wallet will host prepaid Mastercard user to make cashless transactions.
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