Question 1

What is the current interest rate for RBL Bank home loans?

Accepted Answer

RBL Bank offers home loans starting from 8.9% p.a., varying based on the applicant's credit profile.

Question 2

How do I calculate the interest cost for my RBL Bank home loan?

Accepted Answer

You can determine the interest cost using the RBL Bank Home Loan EMI Calculator. Simply input your loan amount, tenure, and interest rate into the calculator to obtain instant results.

Question 3

What factors contribute to the fluctuation of RBL Bank home loan interest rates?

Accepted Answer

RBL Bank adjusts its housing loan rates in accordance with the repo rate. Changes in the repo rate prompt adjustments in the rates for existing RBL Bank home loan borrowers. Additionally, RBL Bank may modify the spread over benchmark rates during special or festive home loan offers.

Question 4

Who is eligible to be a co-applicant for an RBL Bank Housing Loan?

Accepted Answer

Co-owners of the property must also be co-applicants for the RBL Bank Housing Loan. However, not all co-applicants need to be co-owners; close family members are typically permitted as co-applicants.

Question 5

Can I make early payments toward my outstanding home loan amount?

Accepted Answer

Yes, partial or full prepayment of your home loan amount is allowed before the loan tenure ends. RBL Bank does not impose prepayment charges on home loans with floating interest rates.

Question 6

How can I lower my RBL Bank Home Loan interest rate?

Accepted Answer

You can reduce your RBL Bank Housing Loan interest rate by transitioning from a higher interest rate to a lower one. RBL Bank charges a conversion fee for rate reductions, or alternatively, you can transfer your home loan to another lender offering lower rates.

Question 7

What are the pre-closure charges for RBL Bank home loans?

Accepted Answer

Kotak Mahindra Bank does not levy prepayment fees on home loans with floating interest rates. For fixed-rate home loans, prepayment incurs a fee on the outstanding loan amount plus applicable taxes, except when using own sources for pre-closure.

Question 8

What is the disbursement process for RBL Bank Home Loans?

Accepted Answer

After property and document verification and completion of the 'own contribution' or down payment, RBL Bank sanctions the home loan. Disbursement can be requested online or offline and is contingent on construction progress.

Question 9

Is my spouse's income considered in calculating the home loan amount?

Accepted Answer

Yes, your spouse's income can bolster your home loan eligibility. Your spouse must provide income documents to RBL Bank for consideration.

Question 10

What is the minimum credit score required for RBL Bank Home Loan applicants?

Accepted Answer

While RBL Bank doesn't specify a minimum credit score, it offers lower rates to applicants with scores of 750 and above.

Question 11

Can I secure home loan approval while still deciding on a property?

Accepted Answer

Yes, you can apply for pre-approved home loan facilities based on your financial status, creditworthiness, and income. Property selection must occur within 6 months of loan sanction.

Loan Amount	Upto ₹15 cr
Tenure	Upto 30 years
Rate of Interest	8.9% onward
Processing Fee	Upto 1% of the loan amount
Max Tenure	30 years
Foreclosure Charges	Nil

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