Home Loan Eligibility Criteria for RBL Bank
Before you apply, it is important to understand the eligibility requirements. Below is a clear overview to help you check eligibility with ease.
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Eligibility Factor
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Details
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Applicant Type
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Salaried, self-employed, professionals
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Age Limit
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21 to 65 years (at loan maturity)
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Employment Stability
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Minimum 2 years of work experience
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Income Requirement
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Regular and stable income source
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Credit Score
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Preferably 650 or above
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Property Location
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Approved residential properties in India
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Repayment Capacity
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Based on income and existing liabilities
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The criteria are designed to support both salaried and self-employed borrowers, including those meeting standard home loan eligibility for salaried person norms.
Home Loan Schemes Offered by RBL Bank
RBL Bank offers multiple housing loan schemes to cater to different homeownership needs and budgets.
Available Housing Loan Schemes
Home Purchase Loan
For buying new or resale residential properties.
Home Construction Loan
Suitable for individuals planning to construct a house on their own land.
Home Improvement / Renovation Loan
For renovation, extension, or upgrades to an existing home.
Balance Transfer Home Loan
Allows borrowers to transfer an existing loan to RBL Bank at better terms.
These housing loan schemes are structured to support long-term affordability while offering flexibility in repayment.
What Documents Required for RBL Bank Home Loan
Submitting complete and accurate documents helps ensure faster processing of your online home loan application.
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Document Category
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Required Documents
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Identity Proof
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Aadhaar Card, PAN Card
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Address Proof
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Passport, Voter ID, Utility Bills
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| Income Proof |
Last 3 months’ salary slips + Form 16 + 6 months bank statements |
Last 2–3 years ITR + CA-certified income computation + 6–12 months bank statements
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Property Documents
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Sale agreement, approved plans
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Photographs
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Recent passport-size photos
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Keeping documents ready in advance simplifies the documents required for housing loan process.
Home Loan Interest Rates & Repayment Details
RBL Bank offers competitive pricing, making it a suitable option for borrowers searching for a low-interest home loan. Interest rates depend on:
- Applicant profile and income stability
- Credit score and repayment history
- Loan amount and repayment tenure
- Type of property financed
Borrowers can calculate EMI online to estimate monthly installments and choose a comfortable tenure.
Loan Processing Fees & Other Charges
RBL Bank maintains transparency in its fee structure. Common charges include:
- Processing fee: As per bank norms
- Legal and technical verification charges
- Documentation charges
- No hidden costs; prepayment terms as per loan agreement
Exact charges may vary depending on the loan amount and applicant profile.
Tax Benefits on Home Loan
Home loan borrowers can avail attractive tax benefits on home loan in India, subject to Income Tax Act provisions:
- Section 80C: Up to ₹1.5 lakh deduction on principal repayment
- Section 24(b): Up to ₹2 lakh deduction on interest paid
- Additional benefits may apply for first-time homebuyers and interest subsidy schemes
These benefits significantly reduce the overall cost of borrowing.