RBL Bank Car Loan Key Features – Jan 2021
| RBL Bank Car Loan Interest Rate | 7.50% |
| Min Loan Amount | ₹ 50,000 |
| Max Loan Amount (Loan to Value) |
Loan up to 90% of Car Price |
| Loan Tenure | 1 year to 5 years |
| Lowest EMI / Lac | ₹ 1,997 |
| Minimum Net Monthly Income | ₹ 8,000- ₹ 75,000 |
| Minimum ITR for Self Employed | ₹ 300,000 |
| Age Criteria | Salaried: 21 years to 58 years Self Employed: 25 years to 65 years |
| Types of Cars | For All New Passenger Cars, Multi Utility Vehicles (MUVs) and Sport Utility Vehicle (SUVs), Compact Car, Premium Cars, and Super Premium Cars. |
| Processing Fee | Up to 1% of the loan amount |
| Foreclosure Charges | Up to 3% after the first 12 EMIs, Up to 5% before the first 12 EMIs |
| Basic Documentation | ID Proof, Address Proof, Salary Slip, Bank Statement, and Car Quotation |
About RBL Bank Car Loan
Founded in 1943, RBL was the oldest private sector bank in India. Earlier known as Ratnakar Bank Limited, RBL Bank has a full range of banking products which comprise Agri and Development Banking, Retail Banking, Commercial Banking, Financial Markets, Corporate, and Institutional Banking.
RBL Bank gives Car Loans at reasonable rates of interest to the consumer for purchasing their dream car either new or second hand. It is an easily available loan that can be taken who have a good credit/CIBIL score.
RBL Bank Car Loan Eligibility
Eligibility criteria for car loan are discussed in the below contents.
| Salaried Individual |
|
| Self-Employed Individuals |
|
| Self-Employed Non-Individuals (Company/Partnership) |
|
| Priority Customers |
|
RBL Bank Car Loan Interest Rate, Fees and Charges
Details on car loan interest rate and other charges are given below:
| Charges | New Car Loan | Used Car Loan |
| Interest Rate | 7.50%p.a. | 12% p.a. |
| Processing fee | Up to 1% of the loan amount | Up to 1% of the loan amount |
| Issuance of Duplicate Repayment Schedule Charges | Rs.250 per instance | Rs.250 per instance |
| Foreclosure Charges | 5% of the principal outstanding | 5% of the principal outstanding |
| Penal Interest | 2% per month | 2% per month |
| Part Payment charges | 2% of the paid amount | 2% of the paid amount |
| Cheque/Instrument Swap Charge | Rs.250 per instance | Rs.250 per instance |
| Documentation Charge | Rs. 250 per instance | Rs.250 per instance |
| Issuance of Duplicate No Dues Certificate Charges | Rs.500 per instance | Rs.500 per instance |
| Registration Certification Collection Charge | Rs.250 per instance | Rs.250 per instance |
| Cheque Bounce/Instrument Return Charges | Rs.250 per instance | Rs.250 per instance |
| Issuance of Duplicate Statement Charges | Rs.250 per instance | Rs.250 per instance |
| Loan Cancellation/Re-booking Charges | Rs.2,500 per instance | Rs.2,500 per instance |
| Issuance of Credit Report | Rs.50 per instance | Rs.50 per instance |
RBL Bank Car Loan Documents Required
Documents required for car loan and other eligibility are discussed below.
Salaried Individual
| Category | Documents Required |
| Identity Proof
(Any 1) |
Driving Licence Aadhaar Card Passport PAN Voter ID |
| Address Proof
(Any 1) |
Driving Licence Aadhaar Card Passport PAN Voter ID |
| Date of Birth Proof
(Any 1) |
Birth Certificate Passport Driving Licence PAN |
| Signature Proof
(Any 1) |
Passport Bankers Verification PAN |
| Income Proof | Latest Form 16 and Salary Slips |
| Bank Statement | Bank statement of last 3 months |
| Employment Continuity Proof | Work Experience Certificate ITR of Form 16 Salary Slip with Joining Date Appointment Letter Letter of Relieving |
Self-Employed Individuals
| Category | Documents Required |
| Identity Proof (Any 1) | Driving Licence Aadhaar Card Passport PAN Voter ID |
| Address Proof (Any 1) | Driving Licence Aadhaar Card Passport PAN Voter ID |
| Date of Birth Proof (Any 1) | Birth Certificate Passport Driving Licence PAN |
| Signature Proof (Any 1) | Passport Bankers Verification PAN |
| Income Proof | Latest Form 16 and Salary Slips |
| Bank Statement | Bank statement of last 3 months |
| Employment Continuity Proof | Shop & Establishment Act Certificate Current Account Statement SSI or MSME Registration Certificate Sales Tax or VAT Certificate |
| Business Proof | Current Account Statement Telephone Bill Electricity Bill Shop & Establishment Act Certificate SSI or MSME Registration Certificate Sales Tax or VAT Certificate Registered Lease Document with other utility bills |
Self-Employed Non-Individuals:
1. Partnership Firms/Societies
| Category | Documents Required |
| Identity Proof (Any 1) | Driving Licence Aadhaar Card Passport PAN Voter ID |
| Address Proof (Any 1) | Driving Licence Aadhaar Card Passport PAN Voter ID |
| Income Proof | Audited Balance Sheet P&L Account and ITR for the previous 2 years |
| Bank Statement | Bank statement of last 3 months |
| Business Continuity Proof | Shop & Establishment Act Certificate Current Account Statement SSI or MSME Registration Certificate Sales Tax or VAT Certificate |
| Additional documents | Authority Letter/PAN cards |
2. Private Limited/Limited Companies
| Category | Documents Required |
| Identity Proof | Copy of Latest MOA Copy of Incorporation Copy of Latest AOA |
| Address Proof (Any 1) |
Current Account Statement
Telephone Bill Electricity Bill Shop & Establishment Act Certificate SSI or MSME Registration Certificate Sales Tax or VAT Certificate Registered Lease Document with other utility bills |
| Income Proof | Audited Balance Sheet P&L Account and ITR for the previous 2 years |
| Bank Statement | Bank statement of last 3 months |
| Business Continuity Proof | Shop & Establishment Act Certificate Current Account Statement SSI or MSME Registration Certificate Sales Tax or VAT Certificate |
| Additional documents |
List of Directors and Shareholding Partners
PAN Card Board Resolution Certificate of Commencement of Business for Ltd. Co. |
RBL Bank Car Loan EMI Calculator
The candidate has the option to know the EMI’s before getting a Car Loan from RBL Bank. So, you can easily check through the link below:
RBL Bank Car Loan Types
RBL Bank offers different types of car loans to its consumers. You have the option of picking the offer which suits your need the best. RBL Bank offers the following types of Car Loans:
- New Car Loan – Those who wish to purchase a new car, this is the scheme for you. You can take a Car Loan from RBL Bank for a minimum of Rs. 50,000 and a minimum tenure of 5 years.
- Used Car Loan – If you wish to purchase a used car from RBL Bank then you can choose this proposal which offers a minimum loan of Rs. 50,000 and a minimum tenure of 5 years.
- Loan Against Car – You can opt for this proposal if you require urgent funds where you can keep your cars as security with the bank 90% of your car’s value.
RBL Bank Car Loan Pre Calculated EMI
How to Apply for RBL Bank Car Loan?
- Go to Dialabank and fill a form.
- Our Relationship Manager will support you throughout the process.
- You can compare various offers from banks and choose the one which suits you.
- Thus, you can easily apply for a Car Loan through Dialabank and enjoy the best offers.
RBL Bank Car Loan for Top Selling Cars
Other Available Products from RBL Bank
| RBL Bank Personal Loan | RBL Bank Gold Loan | RBL Bank Home Loan |
| RBL Bank Credit Card | RBL Bank Two Wheeler Loan | RBL Bank Education Loan |
FAQs for RBL Bank Car Loan
✅ What is RBL Bank Car Loan?
RBL Bank Car Loan is a financial product for you to purchase a new car and used a car as well.
✅ How can I get a Car Loan from RBL Bank?
You can get a car loan from RBL Bank by visiting the nearest branch of RBL Bank. You will get the convenience to apply from anywhere.
✅How does RBL Bank Car Loan work?
RBL Bank works on providing its customers with the best services of a car loan at attractive interest rates. You can avail a car loan easily and quickly. RBL Bank provides a flexible loan tenure period.
✅What is the Car Loan Interest Rate in RBL Bank?
The interest rate in RBL Bank for a car loan starts at 7.50%.
✅How to Check Car Loan status in RBL Bank?
You must visit the RBL Bank branch to check your car loan status. Also, you can use the net-banking services of RBL Bank to check your car loan status.
✅How to Calculate Car Loan interest in RBL Bank?
To calculation your car loan interest in RBL Bank, the following information is required:
- Loan tenure duration
- Loan amount
- Rate of Interest
You can calculate your car loan interest and EMI of RBL Bank through the EMI calculator.
✅What is the maximum loan amount I can avail of on a Car Loan from RBL Bank?
The maximum loan amount for a car loan from RBL Bank provides 90% funding of your car Price.
✅What is the loan tenure of RBL Bank Car Loan?
The loan tenure for a car loan from RBL Bank for up to 5 years.
✅Can I get a 100% Car Loan from RBL Bank?
Yes, you can get a loan up to 90% funding of your car price for availing a car loan from RBL Bank.
✅How much processing fee applies to RBL Bank Car Loan?
The processing fee is 1% of the loan amount on RBL Bank for availing a car loan.
✅What are the EMI options available on RBL Bank Car Loan?
The EMI options available on the RBL Bank car loan are Step-up EMI.
✅What are the charges for Prepayment in RBL Bank Car Loan?
The prepayment charges in RBL Bank is up to 5% of the outstanding principal for availing a car loan.
✅Can I get a top-up loan on my existing RBL Bank Car Loan?
Yes, you can get a top-up loan on your existing RBL Bank car loan. Also, get a top-up car loan by visiting the online platform of Dialabank.
✅Do I need to provide a guarantor to avail a car loan from RBL Bank?
No, you do not need to provide a guarantor for availing a car loan from RBL Bank.
✅How to get an RBL Bank Car Loan Statement?
To getting a car loan statement of RBL Bank, you can utilize RBL Bank’s mobile banking app. Also, visit the nearest RBL Bank branch and know your car loan statement.
✅How to pay RBL Bank Car Loan interest online?
You can pay your car loan interest through the net-banking facility of RBL Bank. If you are looking for a low-interest car loan, you must visit Dialabank online.
✅What if I can’t pay the interest on RBL Bank Car Loan for 3 months?
If you can’t pay the interest on RBL Bank Car Loan for 3 months, then it will add up to the outstanding loan amount and repayment charges will redraft.
✅How can I apply for EMI Moratorium on RBL Bank Car Loan?
You can apply for EMI Moratorium on RBL Bank by visiting the nearby RBL Bank branch or you can submit a request through an email. Also, if you want relief for the balance duration, you must apply through Dialabank.
✅What is the number for RBL Bank Car Loan agent?
The number for the RBL Bank Car Loan agent is 9878981166.
✅Can I close the RBL Bank car loan online?
You can close your car loan from RBL Bank by using the net-banking page of RBL Bank. You have to log in with your details on the net -banking page and pay your car loan.
✅What is RBL Bank Car Loan Customer Care Number?
The customer care number of RBL Bank for car loan queries is 9878981166.
✅How can I get NOC from RBL Bank for a car loan?
You can get a car loan NOC from RBL Bank after the payment of your car loan amount.
✅ What is the RBL Bank Car Loan closure procedure?
- Just go to the bank with the documents.
- Write a letter for pre-closure of the RBL Bank Car Loan account.
- Pay the pre-closure charges as per RBL Bank Car Loan.
✅ What is the RBL Bank Car Loan preclosure charges?
RBL Bank Car Loan preclosure charges are Up to 3% after the first 12 EMIs and up to 5% before the first 12 EMIs.
✅ What is the RBL Bank Car Loan maximum tenure?
The RBL Bank Car Loan maximum tenure is 7 years.
✅ What is the RBL Bank Car Loan minimum tenure?
The RBL Bank Car Loan minimum tenure is 1 year.
Table of Contents
- 1 RBL Bank Car Loan Key Features – Jan 2021
- 2 About RBL Bank Car Loan
- 3 RBL Bank Car Loan Eligibility
- 4 RBL Bank Car Loan Interest Rate, Fees and Charges
- 5 RBL Bank Car Loan Documents Required
- 6 RBL Bank Car Loan EMI Calculator
- 7 RBL Bank Car Loan Types
- 8 RBL Bank Car Loan Pre Calculated EMI
- 9 How to Apply for RBL Bank Car Loan?
- 10 RBL Bank Car Loan for Top Selling Cars
- 11 Other Available Products from RBL Bank
- 12 FAQs for RBL Bank Car Loan
- 12.1 ✅ What is RBL Bank Car Loan?
- 12.2 ✅ How can I get a Car Loan from RBL Bank?
- 12.3 ✅How does RBL Bank Car Loan work?
- 12.4 ✅What is the Car Loan Interest Rate in RBL Bank?
- 12.5 ✅How to Check Car Loan status in RBL Bank?
- 12.6 ✅How to Calculate Car Loan interest in RBL Bank?
- 12.7 ✅What is the maximum loan amount I can avail of on a Car Loan from RBL Bank?
- 12.8 ✅What is the loan tenure of RBL Bank Car Loan?
- 12.9 ✅Can I get a 100% Car Loan from RBL Bank?
- 12.10 ✅How much processing fee applies to RBL Bank Car Loan?
- 12.11 ✅What are the EMI options available on RBL Bank Car Loan?
- 12.12 ✅What are the charges for Prepayment in RBL Bank Car Loan?
- 12.13 ✅Can I get a top-up loan on my existing RBL Bank Car Loan?
- 12.14 ✅Do I need to provide a guarantor to avail a car loan from RBL Bank?
- 12.15 ✅How to get an RBL Bank Car Loan Statement?
- 12.16 ✅How to pay RBL Bank Car Loan interest online?
- 12.17 ✅What if I can’t pay the interest on RBL Bank Car Loan for 3 months?
- 12.18 ✅How can I apply for EMI Moratorium on RBL Bank Car Loan?
- 12.19 ✅What is the number for RBL Bank Car Loan agent?
- 12.20 ✅Can I close the RBL Bank car loan online?
- 12.21 ✅What is RBL Bank Car Loan Customer Care Number?
- 12.22 ✅How can I get NOC from RBL Bank for a car loan?
- 12.23 ✅ What is the RBL Bank Car Loan closure procedure?
- 12.24 ✅ What is the RBL Bank Car Loan preclosure charges?
- 12.25 ✅ What is the RBL Bank Car Loan maximum tenure?
- 12.26 ✅ What is the RBL Bank Car Loan minimum tenure?
