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Know How RBL Bank Personal Loan EMI Calculator Works?

Know How RBL Bank Personal Loan EMI Calculator Works?

The bank can provide you this privileges for own usage. The personal loan defines you, and you have a chance to take services from the bank for any requirement such as sister’s wedding, study, medical emergency, etc.

With the help of this, you can now fulfill the desires. But do you know through RBL bank personal loan EMI calculator you can measure exact repay amount? No, don’t worry we will tell you how? EMI calculator is a magical tool, which can calculate the exact payable amount. You can open the online site, enter the amount, tenure, and interest rate information then click on submit button. Within a second you know the exact repay amount on monthly EMI to the lender. You can have another privilege with this tool, until or unless you are not satisfied with the report you can try it again an again.

What Are The Pros And Cons Need to Know Before Apply?

Before you can apply for an RBL bank personal loan, need to check online few factors eligibility, KYC, and income. These things should be according to the bank’s norm. When all the factors fit the criteria, then you will get instant approval.

Eligibility Factors For A Personal Loan

  • The minimum age should be 25 years
  • Maximum age should be 60 years
  • Minimum net monthly income Rs 25,000 per month
  • Total work experience should be three years
  • Current minimum work experience should be one year

KYC Factors For A Personal Loan

  • Identity Proof: Any governmental photo ID proof
  • Address Proof: Latest bank statement, electricity bill, passport
  • Income Proof: Latest two months salary slip, form 16, latest six months salary credit bank statement
  • Passport size photograph

How Can You Check Personal Loan Application Status?

After applying for an RBL bank personal loan, you are curious to know the status. So that, you get the interest rate and know how to work RBL bank personal loan EMI calculator. You can visit the official site of the bank and enter loan application number along with captcha code as shown on the page. The status could show approved, waiting for approval, or rejected.

Why Is Interest Rate Important Part For A Personal Loan?

The way EMI calculator works same with interest rate. You should know how much interest rate charges to you by the bank. You can see, understand and manage as per your comfortability. For example, when you are going to buy one home to sign the agreement, can check rooms, extra space, modular kitchen or not, parking area, etc. Same happens with this you should know current interest rate.

The RBL bank’s interest rates range starts from 13.00% to 18.00% with Rs 1 lakh to Rs 20 lakhs for 12 months to 60 months. Your processing fee 2% to 2.5% of the loan amount and the pre-closure charge is 3% to 5%.

The RBL is a reputed bank and provides you multiple services such as attractive interest rates, easy monthly repayment, hassle-free loan sanction, and minimal documents.

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