1,30,000 people visited this section in last 30 daysApply Online

Get Voucher of Upto ₹ 1,000* on Property Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0 Apply Online

RBL Bank Loan Against Property

RBL Bank Mortgage Loan Interest Rates 2022

Last Updated 05th May 2022

RBL Bank is one of the largest Private Bank in the country that offers the lowest rates on loan against property. Currently, the bank offers loans starting from 7.90% with quick approval and online process. The bank offers special features and attractive rates for different income and occupation groups. Some of the key features of RBL Bank Loan against property are mentioned below: Check Best Offers

Interest Rates 7.90% to 15.00%
Processing Fee Upto 1.25%
Max Tenure 15 years
Lowest EMI per lakh ₹ 950
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 for Loan Against Property @ 6.90%* Get upto ₹ 1,000* Voucher

    RBL Bank Loan Against Property Fees and Other Charges

    Along with RBL Bank Loan against Property Rates, RBL Bank also charges various fees and charges when a borrower takes a loan against property:-

    • Processing Fee on RBL Bank Loan against Property Loan is 1.25%. This fee is charged by RBL Bank to maintain the applicant’s loan account and to process the loan application.
    • Advocate's fee for property search and title investigation report.
    • Valuer's fee for valuation report.
    • Stamp duty payable for Loan agreement and mortgage.
    • Property insurance premium.
    • CERSAI Registration Fee of ₹ 50 + GST up to ₹ 5 Lakh limit and ₹ 100 + GST for limits above ₹ 5 Lakh.

    Loan Against Property Interest Rates in RBL Bank for Salaried Employees

    The mortgage loan interest rates in RBL Bank for salaried employee are listed in the table:-

    Interest Rate for Salaried for Residential Property

    Loan Amount Rate
    Upto ₹ 30 Lakh 15.00%
    ₹ 30 Lakh - ₹ 40 Lakh 13.75%
    ₹ 40 Lakh - ₹ 75 Lakh 11.50%
    Above ₹ 75 Lakh 10.40%

    Interest Rate for Salaried for Commercial Property

    Loan Amount Rate
    Upto ₹ 30 Lakh 15.00%
    ₹ 30 Lakh - ₹ 40 Lakh 13.75%
    ₹ 40 Lakh - ₹ 75 Lakh 11.50%
    Above ₹ 75 Lakh 10.40%

    RBL Bank Property Loan Interest Rate for Business Man or Self-Employed Person

    The interest rate for mortgage loans for Self-employed people are listed in the table:

    Interest Rate for Self-Employed for Residential Property

    Loan Amount Rate
    Upto ₹ 30 Lakh 15.00%
    ₹ 30 Lakh - ₹ 40 Lakh 13.75%
    ₹ 40 Lakh - ₹ 75 Lakh 11.50%
    Above ₹ 75 Lakh 10.40%

    Interest Rate for Self-employed for Commercial Property

    Loan Amount Rate
    Upto ₹ 25 Lakh 13.30%
    ₹ 25 Lakh - ₹ 75 Lakh 13.30%
    ₹ 75 Lakh - ₹ 3 Cr 13.30%
    Above ₹ 3 Cr 13.30%

    Steps to Apply for RBL Bank Loan Against Property

    Apply With MyLoancare

    To get the best offers on SBI Loan against Property, you can apply for a Loan against Property at MyLoanCare. The online marketplace helps you compare the best offers, check eligibility, calculate EMI. To apply for a loan against property click here

    Apply With SBI Website

    • You can also apply for SBI Loan against Property with SBI through online and offline modes.
    • To apply for a loan offline, visit the official SBI bank branch and fill out the application form along with the required documents for a loan against property.
    • The bank will then complete the verification process and will sanction the loan on loan approval. Once the loan is approved, you will receive the amount in your bank account.
    • To apply online for SBI Loan against Property online, visit the official website of SBI and navigate to Loan Against Property.
    • Before applying, now check your eligibility for SBI Loan against Property. If you are satisfied and have cross verified all the details, fill out the application form and upload the required documents.
    • On successful verification, the bank will sanction the loan amount in 10-15 days.

    Compare RBL Bank Loan Against Property Interest Rate with Top Banks

    RBL Bank offers multiple schemes for loan against property at affordable interest rates. However, you must compare SBI and other bank’s home loan rates before applying:-

    Particulars RBL Bank SBI HDFC
    Interest Rate 7.90% - 15.00% 8.80% - 13.10% 7.65% - 8.80%
    Processing Fees Upto 1.25%
    Min ₹ 7,500
    Upto 1.00%
    Max ₹ 50,000
    Upto 0.50%
    Min ₹ 7,500
    Loan Tenure 15 Years 10 Years 15 Years
    Maximum Loan Amount ₹ 10 Cr ₹ 7.50 Cr ₹ 5 Cr
    Age Min 23 and Max 65 years Min 18 and Max 70 years Min 24 and Max 65 years
    Benchmark Rate 1_year MCLR RLLR PLR
    Lowest EMI Per Lakh ₹ 950 per lakh ₹ 1,256 per lakh ₹ 936 per lakh

    RBL Bank Loan Against Property Rate Trends of Last 1 Year

    Last Updated Date Interest Rates
    09 Aug, 2021 15.00%
    02 Jul, 2021 15.25%

    Factors Affecting RBL Bank Loan against Property Interest Rates

    Some of the factors that impact RBL Bank Loan Against Property rates are listed as follows:

    • Loan amount: Property loan rates in RBL Bank depend upon the loan amount you apply. You can get a minimum loan of ₹ 10 Lakh from RBL Bank.
    • Your Net Monthly Income: Income helps you in identifying your rate of interest. Higher the income, higher will be your repayment capacity increasing your eligibility for a higher loan amount.
    • Type of loan opted for: RBL Bank offers differential rates for customers' different profiles, for fixed and floating rate schemes. Loan against property interest rates may be higher or lower for special loan products.
    • Type of property: Typically, loans against prime residential properties can be availed easily at the lowest rates compared to loans against commercial and industrial properties.
    • Your profession: RBL Bank may charge a higher interest rate on a mortgage loan to a salaried person than a self-employed professional or a businessman. A self-employed professional or businessman is expected to deploy loan proceeds for productive purposes in his occupation or business compared to salaried people who will most likely take a mortgage loan for his personal purposes.

    RBL Bank Loan Against Property Eligibility Criteria

    RBL Bank has detailed criteria to determine a potential borrower’s eligibility for mortgage loans. Some of the key criteria are:

    Eligibility Criteria Details
    Age 23 to 60 years
    Minimum Income ₹ 12,500
    Loan Amount ₹ 10 Lakh to ₹ 5 Cr
    Minimum years of business existence 2 years
    Minimum work experience 3 years
    Minimum Credit Score 650 and above
    Loan to Value Ratio Upto 50%
    FOIR (Fixed Obligations to Income Ratio) 0.65

    RBL Bank Mortgage Loan Interest Rate and EMI Calculator

    You can use an online RBL Bank Loan against property EMI Calculator to calculate loan EMIs at different rates of interest and check and compare the lowest EMI per lakh on Loan against Property. Higher the interest rate, higher will be the EMI. However, your cumulative interest outgo will be significantly higher in a longer tenure loan than a short tenure loan.

    Loan Against Property Top up, Transfer in RBL Bank

    RBL Bank offers mortgage loan balance transfer from another bank, subject to your meeting other eligibility criteria of RBL Bank at an affordable interest rate, higher loan amount and convenient loan tenure. RBL Bank loan against property balance transfer helps you make your loan repayment convenient and opt for a beer customer service. Current loan against property balance transfer rates in RBL Bank are 7.90%. Along with that, you can also avail of additional top-up on your loan against property.

    RBL Bank Loan Against Property Documents Required

    For Self-Employed

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

    Check Loan Against Property Interest Rate in Major Banks

    FAQs

    What is RBL Banks loan against property interest rate?

    RBL Bank offers loan against property at a rate of 7.90% with the lowest EMI of ₹ 950. If you are currently paying a higher interest rate than the RBL Bank rate, you can opt for a balance transfer of loan to RBL Bank.

    How to increase my eligibility on RBL Bank Mortgage loan?

    If your spouse or family member is earning well, you can make your spouse or family member the co-applicant for your loan. The combination of both of your income will help you in increasing your eligibility to get a loan.

    Can I foreclose my Mortgage loan? What are the charges applicable?

    Yes, you can foreclose your RBL Bank loan against property anytime you want with Individual Borrower- Nil, Others- 3% of Outstanding balance foreclosure charges.

    What is the maximum loan tenure I can opt under RBL Bank Property loan?

    RBL Bank offers a maximum tenure of 15 years to repay your loan.You can choose the tenure for your LAP loan as per your convenience and repayment ability.

    What is the benchmark rate applicable for Mortgage loan?

    The benchmark rate applicable for property loans in RBL Bank is 1 Year MCLR

    Can I transfer my Loan against Property from another bank to RBL Bank?

    Yes, Bank gives you the facility to transfer your existing loan with a hassle-free process. Loan balance transfer to RBL Bank offers you to pay lower EMIs and save money and enables you to choose better customer service, if you are not satisfied with your existing bank. Current Balance transfer rates in RBL Bank are 7.90%.

    What is RBL Bank mortgage loan processing fees?

    The loan processing fee charged is 1.25% of the total loan amount.

    What security do I need to provide for RBL Bank Mortgage Loan?

    RBL Bank requires a registered mortgage of the property against which the bank will provide you a loan.

    • Property on which you intend to take a loan is not vacant land, has an approved map plan and is in a municipal area. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
    • Your total EMIs on all loans and credit cards (from RBL 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 RBL Bank and other banks and all EMI's have been paid. Note that RBL Bank can see the record or status of your EMI defaults to all banks and NBFC’s in India and not just to RBL Bank in your CIBIL report. Estimate your CIBIL score for free 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 application
    • If you are self employed, your business must have been in existence for at least three years and last three income tax returns with audited financial must be available

    Are prepayment or foreclosure charges applicable on RBL Bank loan against property?

    You can prepay a loan against property 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

    Notification ×
    • Home Loan

      Home Loan at all-time low rates starting at 6.50%. Cashback of up to ₹ 1,000

      Apply Now
    • Personal Loan

      Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000.

      Check Offers
    • Gold Loan

      Instant Gold Loan starting at 9.00% with Cashback of up to ₹ 500

      Apply Now
    • Loan Against Property

      Best Loan Against Property Offers starting @ 6.90%. Cashback of up to ₹ 1,000*.

      Apply Now
    • Business Loan

      Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

      Apply Now
    • Fixed Deposit

      AAA rated FDs with returns as high as 7.05%.

      Invest Now
    RBL Bank Loan Against Property News - May 2022
    • 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.
    • 2019-12-24 : RBL Bank reduces MCLR rates
      RBL Bank has cut its Marginal Cost of Funds Based lending Rate (MCLR) by up to 10 bps. For one year, the MCLR stands at 9.70% as compared to 9.80% earlier. For six months, the rate has been cut to 9.40% from 9.45% earlier. The revised standards have been in effect from December 22, 2019. The cut in MCLR will impact the interest rate of MCLR linked home loans and loans against property.
    *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
    Loader
    Please wait while your information is being processed...
    '