RBL Bank Home Loan for Government Employees

RBL Bank offers fabulous home loan offerings for government employees looking to invest in their own homes. The RBL Bank home loans for government employees come with enticing rates of interest in addition to flexible tenures. There are specialized services tailored for government employees at the bank, including customization of loan products and fast approvals. RBL Bank has also come up with an online tracking and application system for maximum convenience. 

RBL Bank Home Loan for Government Employees – Highlights 

Here are some key highlights worth noting: 

• Rate of Interest- 8.90% and upwards
• Maximum Amount- Rs. 15 crore
• Maximum Duration- Up to 30 years
• Hidden Costs- Nil

RBL Bank Home Loan for Government Employees – Fees and Charges 

Here are the major fees and charges linked to the RBL Bank home loan for government employees.

1. Application Costs (they are not refundable) are Rs. 3,000 + taxes. 
2. Prepayment is zero for floating-rate loans. It can be 2% on outstanding principal for fixed-rate home loans. 
3. Documentation costs are usually 1.50% or Rs. 10,000 (whichever is more). 
4. Late payments mean 2% + taxes on the amount that is overdue. 
5. Rs. 250 is the charge for physical account statement/repayment schedule requests, duplicate interest certificate issurance, Duplicate no due/NOC certificate, etc. 
6. Rs. 500 is the cost for repayment mode swapping and bounced payments. 
7. Rs. 100 is charged for the credit bureau report. 
8. Rs. 500 is also needed for the list of documents. 
9. CERSAI costs are Rs. 100 + taxes. 
10. Interest type-switching costs are 0.5% of the principal outstanding amount or Rs. 50,00, whichever is less. 
11. The conversion charges are up to Rs. 10,000 + taxes. 

RBL Bank  Home  Loan for Government  Employees – Documents Required

Here is a closer look at the RBL Bank home loan documents required for government employees.

Compulsory Documentation: 

RBL  Bank  Home Loan for  Government  Employees – Eligibility Criteria

Here are the minimum criteria: 

• At least Rs. 1,80,000 in income (net) each year
• 24 years is the minimum age requirement while sanctioning the loan 
• The applicant should have at least three years in work experience 
• He/she can also furnish a confirmation letter in case the joining date is lower than a year

RBL Bank  Home Loan Schemes for  Government  Employees

There are two distinct RBL Bank home loan schemes for government employees.

• RBL Bank Home Loan– RBL Bank offers this loan product to enable customers looking for funding to build, buy, or renovate their homes. With a flexible repayment tenure of up to 30 years and a loan amount of up to Rs. 15 crore, borrowers can enjoy lower interest rates through the Home Loan Balance Transfer facility.
• RBL Bank Affordable  Home Loan– RBL Bank offers an affordable housing loan of up to Rs. 30 lakhs for various purposes. These include buying, constructing, extending, repairing, or renovating homes. These funds are also given for buying plots. The tenures can be increased to 30 years while the maximum amount is the same as above.