RBL Bank Business Loan

Here are the fees and charges associated with availing RBL Bank Business Loans:

Business Loans and Small Business Loans

Also read: Best Business Loan EMI Calculator

Apply for Secured/Unsecured Business Loans at Low Interest Rates

Apply Now

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

Avail RBL Bank Business Loans at Attractive Interest Rates

Apply Now

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:

• Age: 27 years (at the time of loan application) to 65 years (at loan maturity).
• Minimum 5 years of experience required in the same line of business with a minimum of 3 years of business establishment & operation in the same city. Self-employed professionals need a minimum of 4 years of post-qualification experience.
• Self-employed individuals & professionals, sole proprietorships, partnership firms, and private limited companies (including closely-held public limited companies) with a profitable business for the past 3 years are eligible.
• The minimum business turnover required for this unsecured business loan is Rs 1 crore. The loan applicant’s gross receipts for the professional or service sector should be at least Rs 60 lakh.
• The ownership of the residence/office should be in the individual applicant’s name or jointly with family members, or the applicant should reside in the residence owned by an immediate family member.

Also read: Best Business Loan Eligibility

Check your Eligibility for availing Business Loans

Apply Now

The documents required for availing different types of RBL Bank business loan schemes are as follows:

RBL Bank Business Loan

• Passport size photographs of all applicants and co-applicants.
• PAN Card: For individual, partnership firm, or company.
• Identity proof (any one): Voter ID, Driving License, Passport, Aadhar Card, etc.
• Address proof (any one): Voter ID, Passport, telephone/electricity bill, registered lease deed or sale agreement, bank statement, Driving License, etc.
• Ownership proof of residence/office in the name of the loan applicant or jointly with family members.
• Proof of business continuity: Any one document dated 5 years old (bank statement, sales tax challans, Income Tax Returns (ITR), Shops & Establishment certificate, Certificate of Incorporation or Partnership Deed).
• Letter certifying the end use of the business loan funds on business letterhead.

For self-employed individuals/professionals and sole proprietorships

• Last 6 months bank statements from the borrower’s main account/s and last 3 months bank statements of all other bank accounts mentioned in the Balance Sheet.
• Latest audited Income Tax Returns (ITR) and financials of the last 2 years (Profit & Loss A/c., Balance Sheet, and computation of income along with all schedules).
• Professional certificate of qualification and degree certificate for doctors, architects, Chartered Accountants, etc. (for self-employed professionals only).

For partnership firms/private limited companies

• Memorandum of Association (MOA), Articles of Association (AOA), Certificate of Incorporation (COI), and Board Resolution from the company.
• Latest shareholding patterns for private/public ltd. companies.
• Latest audited Income Tax Returns (ITR) and financials of the last 2 years (Profit & Loss A/c., Balance Sheet, computation of income along with all schedules).
• Bank statements from the main account/s for the last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet.
• Partnership authority letter and partnership deed for partnership firms.

Also Read :  Best Business Loan Documents Required

Avail Business Loans with Quick Disbursal

Apply Now

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.

Avail Business Loans with Quick Disbursal

Apply Now