| RBL Bank Loan Against Property Highlights | |
| Interest rates | 9.50% p.a. onwards |
| Loan amount | LAP: Up to Rs 10 crore |
| Overdraft: Up to 5 crore | |
| Repayment tenure | LAP: Up to 15 years |
| Overdraft: Up to 10 years | |
| LTV Ratio | Up to 80% of property value |
| Processing fee | 1.25% of loan amount + GST |
Note: Interest rates as of 5th November 2024
Check Lenders Offering Loan Against Property at Low Interest Rates Click Here
Table of Contents
RBL Bank Loan Against Property Interest Rates
| Customer Profile | Interest Rate (p.a.) |
| CMR 1 – 3 or CIBIL >= 740 | 9.50% to 12.20% |
| CMR 4 – 6 or CIBIL 700 to 740 | 9.65% to 12.35% |
| CMR 7 – 10 or CIBIL < 700 | 9.75% to 12.45% |
RBL Bank offers interest rates for loan against property based on its applicant’s credit score. The final loan against property interest rates offered to the applicants may vary based on the product variant, customer assessment, segment, etc.
Compare LAP Interest Rates of RBL Bank vs Other Lenders
| Name of the Lender | Interest Rate (% p.a.) | |
| State Bank of India | 10.00-11.30 | Apply Now |
| Bank of Baroda | 10.85-18.60 | Apply Now |
| PNB Housing Finance | 9.25-15.00 | Apply Now |
| IDFC First Bank | 9.00-16.50 | Apply Now |
| HDFC Bank Limited | 9.50-11.00 | Apply Now |
| L&T Housing Finance | 9.50 onwards | Apply Now |
| LIC Housing Finance | 9.50-11.55 | Apply Now |
| Godrej Housing Finance | 9.75 onwards | Apply Now |
| ICICI Bank | 10.85-12.50 | Apply Now |
| Tata Capital | 9.00 onwards | Apply Now |
| Axis Bank | 10.50-10.95 | Apply Now |
| Punjab National Bank | 10.40-12.75 | Apply Now |
Check LAP Interest Rates From Top Lenders Click Here
RBL Bank Loan Against Property Fees and Charges
Processing fee
| Processing fee | 1.25% of the loan amount + GST |
Application Fee
| Application fee | Rs 6500/- for Mumbai, Rs 5000/- for Other locations |
Part-prepayment/Foreclosure Charges
| Floating rate: For individual borrowers (for purpose other than business) | NIL |
| Fixed rate: For individual borrowers (with business purpose) and non-individual borrowers | ● 5% on principal amount, if paid within 12 months
● 3% on principal outstanding after 12 months
|
Note: Foreclosure charges are not applicable to facility sanctioned to MSEs with:
- Floating interest rate loans irrespective of the loan amount
- Fixed interest rate Loans upto INR 50 lacs loan amount
Other fees and charges
| Late EMI Payment charges | 2% additional interest per month on overdue amount |
| Rate switch charges | 0.5% on principal outstanding or Rs 50,000, whichever is lower |
| Issue of Duplicate Interest & Principal Certificate | Rs 250 per instance |
| Property swap charges | 0.1% of loan amount or Rs 10,000, whichever is higher |
| Bounce cheque charges | Rs 250 per instance
|
| Duplicate no due certificate/NOC | Rs 250 per instance |
| Charges for CIBIL report | Rs 50 per instance |
Dropline Overdraft Loan Against Property Fees and Charges
Processing fee
| Processing fee | 1.25% of the loan amount + GST |
Application fee
| Application fee | Rs 6,500 for Mumbai, Rs 5,000 for Other locations |
Foreclosure charges
| Foreclosure charges | 5% on active Limit if closed within 12 months 3% on active limit after 12 months |
Other fees and charges
| Charges on overutilization of limit | 2% additional interest per month on overdue amount |
| Bounce cheque charges | NIL |
| Commitment charges | Minimum quarterly average utilization of 25% of the active limit. If the quarterly average utilization is below 25% of the active limit, then commitment charges of 2% of the shortfall in utilization. |
| Limit reduction charges | 3% of the limit reduction amount |
| Rate switch charges | 0.5% on active limit or Rs 50,000/- whichever is lower |
| Property swap charges | 0.1% of loan amount or Rs 10,000/- whichever is higher |
Check Lenders Offering Loan Against Property at Low Interest Rates Click Here
RBL Bank Loan Against Property Eligibility Criteria
- Indian resident
- Salaried individuals, self-employed individuals, self-employed professionals, sole proprietorships, partnership firms and private limited companies (including closely-held public limited companies)
For salaried individuals:
- Minimum age: 23 years
- Maximum age: 60 years or retirement
- Minimum salary: Rs 1.50 lakh p.a.
For self-employed and professionals:
- Minimum age: 23 years
- Maximum age: 65 years
- Minimum net profit as per latest ITR/Financials of Rs 1.50 lakh
Along with the above-mentioned criteria, RBL Bank may also consider property value, assets and liabilities of their customers while evaluating their loan against property eligibility.
Check Lenders Offering Loan Against Property at Low Interest Rates Click Here
RBL Bank Loan Against Property Documents Required
List of Common Documents:
- Passport size photographs
- PAN Card for Individual/Partnership Firm/Company
- Identity proof, any one of the following: Voter ID/ Passport/ Driver’s License
- Address proof, any one of the following: Voter’s ID/ Driver’s License/ Passport/ Electricity bill/ Telephone bill/ Bank Statement/ Registered Lease Deed or Sale Agreement
- Business continuity proof: any one document dated 5 years old (Bank statement/ Sales Tax Challans/ IT Returns/ Shops and Establishment Certificate/ Partnership Deed/ Certificate of Insurance/ Partnership Deed)
Additional Documents Required for Salaried:
- Last 2 years Income tax returns or latest 3 month salary slip or latest form 16 issued by the employer
- Six months bank statement required with salary credits
Additional Documents Required for Self-employed Individuals/ Sole Proprietorship:
- Latest audited ITR and financials for the last 3 years (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)
- Bank statements from the borrower’s main account/s for the last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet.
Additional Documents Required for Self-employed professionals:
- Latest audited ITR and financials for the last 3 years (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)
- Bank statements from the borrower’s main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet
- Professional qualification certificate and Degree certificate for professionals (Doctors, Architects, Chartered Accountants etc.)
Additional Documents Required for Partnership Firms/ Private Limited Companies
- Latest audited ITR and financials for the last 3 years (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)
- Bank statements from the main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet
- Partnership Deed and partnership authority letter for partnership firms
- Memorandum and Articles of Association and Board Resolution from the company
- Certificate of Incorporation (COI) for companies
- Latest shareholding patterns for Private Ltd. / Public Ltd. companies
Along with the aforementioned documents, the bank may also ask for additional loan against property documents at its discretion.