RBL Bank India - Car Loans
Overview:
RBL Bank offers car loans with attractive interest rates and flexible repayment options. Whether you are looking to buy a new or used car, RBL Bank has a solution for you.
Features and Benefits:
- Competitive interest rates
- Flexible repayment tenure
- Quick and hassle-free processing
- No prepayment charges
- Loan available for new and used cars
Eligibility Criteria:
- Minimum age: 21 years
- Maximum age: 60 years at loan maturity
- Salaried individuals, self-employed professionals, and business owners are eligible
Documents Required:
- Identity proof (Aadhar card, passport, driving license, etc.)
- Address proof (Utility bills, rental agreement, etc.)
- Income proof (Salary slips, bank statements, IT returns, etc.)
- Car quotation or invoice
Interest Rates:
| Tenure | Interest Rate |
|---|---|
| 1 year | 9.50% - 11.50% |
| 2 years | 9.00% - 11.00% |
| 3 years | 8.75% - 10.75% |
How to Apply:
You can apply for an RBL Bank car loan online on their official website or visit the nearest branch for assistance.
RBL Bank Car Loans - Frequently Asked Questions
1. What are the eligibility criteria for applying for a car loan at RBL Bank?
Applicants must be Indian residents aged between 21 and 60 years, with a steady source of income. They should have a good credit score and meet the minimum income requirement set by the bank.
2. How much loan amount can I avail for purchasing a car?
RBL Bank offers car loans starting from Rs. 1 lakh up to a maximum amount based on the applicant's eligibility and the value of the car being purchased.
3. What is the tenure for repaying the car loan at RBL Bank?
The repayment tenure for a car loan at RBL Bank can range from 1 year to 7 years, depending on the applicant's preference and repayment capacity.
4. Are there any processing fees or charges for availing a car loan from RBL Bank?
Yes, RBL Bank charges a processing fee for car loans, which is disclosed at the time of application. Other charges like prepayment penalties, late payment fees, etc., may also apply.
5. Can I prepay or foreclose my car loan at RBL Bank?
Yes, borrowers have the option to prepay or foreclose their car loan at RBL Bank, subject to certain terms and conditions. Prepayment charges may apply as per the bank's policy.
