15 Lakh RBL Bank Home Loan

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Turn your dream home into a reality with RBL Bank's convenient and affordable 15 lakh home loan option. Whether you're a salaried professional or self-employed, this loan caters to a broad range of borrowers seeking to purchase or construct their dream home. RBL Bank offers competitive interest rates and a flexible repayment period that can extend up to 25 years. The application process is streamlined, requiring minimal documentation. An additional benefit for financially savvy borrowers is the absence of prepayment penalties for floating rate loans.

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Table of Content

1. 15 Lakh Home Loan RBL Highlights

2. 15 Lakh Home Loan EMI for 5 Years From RBL Bank

3. 15 Lakh Home Loan EMI for 10 Years From RBL Bank

4. 15 Lakh Home Loan EMI for 15 Years From RBL Bank

5. 15 Lakh Home Loan EMI for 20 Years From RBL Bank

6. 15 Lakh Home Loan EMI for 25 Years From RBL Bank

7. 15 Lakh RBL Home Loan Fees and Charges

8. 15 Lakh RBL Home Loan Documents Required

9. 15 Lakh RBL Home Loan Eligibility Criteria

Written By

Hepson Franklin

Hepson Franklin is a seasoned financial expert and accomplished writer specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & loan products. With a wealth of experience in the financial industry, he has established himself as a trusted voice, providing invaluable insights and guidance to both seasoned investors and those new to the world of finance. With a comprehensive understanding of the intricate facets of the financial landscape, he is dedicated to demystifying complex financial concepts for readers of all backgrounds.

Reviewed By

Piyush Bothra

Chief Financial Officer, Square Yards

Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

15 Lakh Home Loan RBL – Highlights

The key highlights for a 15 lakh home loan from RBL Bank:

Feature	Detail
Term Options	Up to 25 years
Interest Rate	Competitive rates
Prepayment	None applied on floating rate loans
Approval Time	Fast processing and approval

15 Lakh Home Loan EMI for 5 Years From RBL Bank

Description	Estimated Amount
Monthly EMI	INR 3,48,000
Total Paid	INR 18,48,000
Interest Paid	INR 30,800

15 Lakh Home Loan EMI for 10 Years From RBL Bank

Description	Estimated Amount
Monthly EMI	INR 19,000
Total Paid	INR 22,80,000
Interest Paid	INR 7,80,000

15 Lakh Home Loan EMI for 15 Years From RBL Bank

Description	Estimated Amount
Monthly EMI	INR 15,500
Total Paid	INR 27,90,000
Interest Paid	INR 12,90,000

15 Lakh Home Loan EMI for 20 Years From RBL Bank

Description	Estimated Amount
Monthly EMI	INR 14,000
Total Paid	INR 33,60,000
Interest Paid	INR 18,60,000

15 Lakh Home Loan EMI for 25 Years From RBL Bank

Description	Estimated Amount
Monthly EMI	INR 12,800
Total Paid	INR 38,40,000
Interest Paid	INR 23,40,000

15 Lakh RBL Home Loan – Fees and Charges

Here is the fee structure for a 15 lakh home loan offered by RBL Bank:

Fee Type	Details
Application Fee	INR 5,000 + taxes (non-refundable)
Processing Fee	1% of the loan amount or INR 15,000 + taxes, whichever is higher
EMI Overdue Charges	2% of the EMI amount plus taxes
Prepayment Charges	Nil for floating rate loans

15 Lakh RBL Home Loan – Documents Required

The required documents for a 15 lakh RBL home loan are:

Identity Proof: PAN, Voter ID, Passport, or Driving License.
Address Proof: Utility bill, Lease/Sale Agreement, or Bank Statement.
Income Proof: Salary slips, Form 16, or ITR (last 2 years).
Business Proof: (Self-employed) ITR, P&L statements, business continuity.

15 Lakh RBL Home Loan – Eligibility Criteria

Here’s the eligibility criteria for an RBL home loan worth Rs. 15 lakh:

Criteria	Details
Applicant Type	Salaried individuals, self-employed individuals, and professionals
Income Stability	Stable income, verified through relevant documentation
Age Criteria	Must meet bank’s age requirements for loan maturity
Creditworthiness	Good credit score and history required
Documentation	Required documents include proof of income, identity, and residence

Frequently Asked Questions (FAQs)

What is the EMI for a 15 lakh Home Loan for 20 years in RBL?

EMI for a 15 lakh home loan over 20 years at an 8.90% interest rate would be approximately INR 13,400 per month.

Who is eligible for a 15 lakh Home loan in RBL?

To be eligible for a home loan of up to 40 lakhs with RBL, you can be a salaried individual in India, a salaried Non-Resident Indian (NRI), a self-employed person, or a professional. However, you'll need to fulfil their criteria regarding income and how long you've been working in your current position.

What is the monthly interest rate of a 15 lakh home loan in RBL?

If you get an RBL home loan with a yearly interest rate of 8.9%, you can expect a monthly interest rate of around 0.74%.

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