![working loan image](../assest/image/form-image-left.png)
RBL Bank offers loans for small and medium businesses. These loans can be secured or unsecured and start at 14% interest per year for up to 7 years. They help businesses with their day-to-day expenses and also provide funds for buying machinery, doing repairs, or expanding. The bank tries to give a decision on loan applications within about 15 days of receiving all the necessary paperwork. Additionally, women borrowers may get lower interest rates on certain types of loans.
RBL Bank Business Loan Highlights |
|
---|---|
Interest Rate |
|
Loan Amount |
|
Loan Tenure |
|
*Terms and conditions apply.
Table of Contents | ||
---|---|---|
RBL Bank Business Loan Interest Rates | ||
Fees & Charges | ||
Types of RBL Bank Business Loan | ||
Eligibility Criteria | ||
Documents Required | ||
FAQs |
RBL Bank offers business loans with interest rates ranging from 14% to 26% per annum. Here are the interest rates for various business loan schemes provided by RBL Bank:
For women borrowers:
For other borrowers:
Small business loans / Self-employed personal loans:
For women borrowers:
For other borrowers:
For women borrowers:
For other borrowers:
Also read: Best Business Loan Interest Rate
Here are the fees and charges associated with availing RBL Bank Business Loans:
Business Loans and Small Business Loans
Particulars | Concessions | |
---|---|---|
Processing Fees |
(No processing fee applicable for small business loans below Rs 5 lakh) |
|
Documentation charges | Rs 7,000 for small business loans below Rs 5 lakh | |
Charges for late payment of EMI | 2% additional interest per month on overdue EMI amount | |
Issue of duplicate interest & principal certificate | Rs 250 per instance | |
Cheque swapping charges | Rs 250 per instance | |
Bounce cheque charges | Rs 250 per instance | |
NACH bounce charges for EDI (Equated Daily instalment) products | Rs 50 per instance | |
Charges for CIBIL report | Rs 50 per instance | |
Foreclosure charges (EMI based product) |
Note: The foreclosure charges are not applicable for facility sanctioned to MSMEs with floating interest rate loans and for fixed interest rate loans with loan amounts of up to Rs 50 lakh |
|
Foreclosure charges (EDI based product) |
Note: The foreclosure charges are not applicable to facility sanctioned to MSMEs with Floating interest rate loans and fixed interest rate loans with loan amounts of up to Rs 50 lakh |
Also read: Best Business Loan EMI Calculator
Purpose: This unsecured loan assists business units in securing funds for their working capital needs and financing their business expansion efforts.
Loan Amount: Rs 10 lakh to Rs 35 lakh
Loan tenure: 1 to 3 years
Purpose: RBL Bank offers secured loans to individuals, proprietors, and partnership firms to fulfill their working capital requirements, purchase machinery, and undertake repairs or renovations for existing business units. The bank accepts residential and commercial properties as collateral. Business assessments are conducted based on bank statements, income tax returns (ITR), value-added tax (VAT) payments, and official bills.
Loan amount: Up to Rs 20 lakh
Loan tenure: 1 to 7 years
Purpose: RBL Bank offers collateral-free loans to individuals, proprietors, and partnership firms to assist them with their credit needs.
Loan amount: Up to Rs 10 lakh
Loan tenure: 1 to 5 years
Purpose: RBL Bank offers working capital finance loans to business units, enabling them to manage their daily expenses and monthly commitments such as salaries and utility bills. The bank provides various facilities including cash credit, overdraft, export credit, bank guarantee, buyer’s credit, and letter of credit as part of this business loan facility.
Eligibility criteria for this business loan variant are as follows:
Also read: Best Business Loan Eligibility
The documents required for availing different types of RBL Bank business loan schemes are as follows:
RBL Bank Business Loan
For self-employed individuals/professionals and sole proprietorships
For partnership firms/private limited companies
Also Read : Best Business Loan Documents Required
The processing fee for a loan amount ranging between Rs.5 lakh and Rs.25 lakh is 3% of the loan amount plus the applicable Goods and Services Tax (GST).
For loan amount below Rs.5 lakh, a documentation charge of Rs.7,000 is levied.
There is no processing fee charged for loan amount below Rs.5 lakh.
If you fail to pay your business loan EMIs on time, the bank will levy a penalty for the delay in payment. Additionally, late payments can negatively impact your credit score. A lower credit score can make it difficult for you to obtain loans in the future. Therefore, it's important to ensure timely repayment of EMIs to maintain a good credit history.