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RBL Bank Limited (formerly known as Ratnakar Bank Limited) is a scheduled commercial bank headquartered in the Kolhapur region of Maharashtra. Founded in August 1943, it is one of the oldest private sector banks in India. It was initially established by a group of eminent patriotic personalities to cater to the needs of small and medium business merchants in the Kolhapur-Sangli belt. It has come a long way since then, and currently offers a wide range of banking products and services categorized broadly in 5 verticals – Corporate and Institutional Banking, Commercial Banking, Retail Banking, Agri and Development Banking, and Financial Markets.
RBL Bank services undertook a transformational journey under a new management team in 2010, embarking on a dynamic growth plan based on a strong platform of professional governance, relationships, technology infrastructure, high quality capital and geographic expansion. As of March 2016, RBL Bank has grown to a network of 201 branches and 365 ATMs across 16 Indian states and Union Territories.
Vision and Mission
The vision of the Bank is to be a Bank of Choice by creating and nurturing enduring relationships through trust and respect of its customers, employees and partners. The Bank focuses on engaging and understanding customer needs, extending best-in-class products and services to them. RBL Bank financial services also endeavors to be responsive and quick in resolving queries, so to as to ensure customer’s delight and peace of mind. With employees as the pillar, the Bank provides an enabling work culture, where career aspirations can be realized through consistent performance and demonstration of the Bank’s core values and beliefs. The Bank also believes in delivering robust and cost-effective banking services that promote financial inclusion, catalyzes growth and reduces social inequalities. RBL Bank banking services also puts its shareholders as one of its chief priorities, to demonstrate high corporate governance standards that protect and balance the interests of stakeholders in their journey to achieving short and long term business goals.
RBL Bank Loans
RBL Bank Home Loan : With easy documentation and fast processing, home loans from RBL Bank takes customers a step closer to their dream home. The “Easy Home Loan Product” helps a borrower have interest on the loan and thus repay it faster. Under this scheme of RBL Bank finance, one can avail home loans of up to Rs. 10 crores. It comes with a flexible tenure of up to 25 years. It is available to salaried individuals, self-employed individuals, as well as self-employed professionals. It is offered to Indian Residents only. As specified by the RBL Bank home loan eligibility criteria, the minimum age of the applicant at the time of loan sanction should be 24 years. The maximum age limit, on the other hand, is 60 years or superannuation, whichever is early, in the case of salaried individuals, whereas, for self-employed individuals and professionals, it is 65 years. Salaried borrowers should have been working for minimum1 year at the current job, and a total of 2 years’ work expeirnce. If the current job is less than 1 year, then 3 years of total experience is required. For self-employed individuals and professionals, the minimum net annual income as per latest year ITR/Financials, should be Rs. 150,000. The borrower should have business continuity of last 3 years in the same field.
RBL Bank Personal Loan : This loan serves the purpose of meeting immediate cash requirements. One can avail a loan amount from Rs. 1 lakh to Rs. 20 lakhs. It allows convenient loan repayment option of 12 to 60 months. RBL Bank loan advantage is that no collateral or security is required to avail this loan. The borrower can enjoy a host of benefits like, simplified and quick documentation, attractive RBL Bank loan interest rates, and hassle-free loan sanction and disbursal procedure. Salaried individuals should have a minimum net monthly income of Rs. 25,000 per month. He/she should be at least 25 years of age at loan sanction, and the maximum permissible age at loan maturity is below 60 years or retirement age. The applicant should have completed a minimum of 1 year at the current employment, ad 3 years of total work experience.
RBL Bank Loan Against Property : Loan against property from RBL Bank is offered to salaried individuals, self-employed professionals, sole proprietorships, partnership firms and private limited companies (including closely held public limited companies), to help them realize the true value of his/her property in meeting their business and personal needs. This scheme sanctions loans of up to Rs. 10 crores. As per RBL Bank loan details, it comes with convenient loan repayment option of up to 180 months. Both residential and commercial property is accepted as collateral. Further, the loan process is facilitated by minimal documentation and faster approvals. The borrower is sure to be attracted by the competitive interest rates. It also promises fixed rate for the first 3 years. This loan can be availed by Indian Residents only, according to RBL Bank loan scheme. The minimum age of the applicant at the time of loan sanction should be 23 years, while the maximum age is to be lower of 60 years or retirement age. For self-employed individuals and professionals, the minimum net profit as per latest year ITR/financials should be Rs. 150,000. He/she should at least be 23 years of age, while the maximum age at loan maturity should be 65 years.