RBL Bank Personal Loan Interest Rates

Factors Affecting RBL Personal Loan Interest Rates

• The income of the applicant: The income of the applicant is one of the main factors that decides the interest rate of the loan that will be offered. With the minimum income required being set at Rs.25,000, the higher the income of the individual, the chances of the personal loan interest rate being set lower is more.
• The repayment history of the applicant: If the applicant has had a poor repayment track record which will be reflected in his/her credit score, the interest rate offered by the bank will be higher.
• If the applicant has a relationship with RBL: If the applicant has had a good relationship with RBL bank by holding an account with them for a number of years or has availed a loan from them in the past, chances are that the interest rate offered will be lower.
• The tenure chosen by the applicant: If the tenure chosen by the applicant is short, then the interest rate will most likely be lower as well.

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