RBL Bank Home Loan for Senior Citizens & Pensioners

RBL Bank offers a home loan product specially designed for senior citizens. It is an excellent option for those looking for a comfortable and secure retirement. The RBL Bank home loan for senior citizens has many features, including low-interest rates starting from 8.90%, flexible repayment options, and the ability to switch interest rates. The loan amount can be used for buying a new home, renovating an existing one, or even purchasing a plot of land. 

RBL Bank Home Loan for Senior Citizen – Highlights 

RBL Bank Home Loan for Senior Citizen – Fees and Charges

Here are the major fees and charges associated with the senior citizen home loan from RBL Bank.

RBL  Bank  Home Loan for  Senior  Citizen – Documents Required

• Compulsory- PAN, ID and Address Proof 
• Proof of Business Continuity- Bank Statement, Sales Tax Challan, Shops & Establishment Certificate, Sales Tax Challan, Partnership Deed, Certificate of Insurance
• Financial Documents- Last two years’ IT returns/last three months’ salary slips/Latest Form 16 for salaried. Self-employed borrowers have to provide audited financials and ITR for last two years along with 6 months’ bank statements. For professionals, the qualification/degree certificate is necessary along with other requirements mentioned above. 

RBL  Bank  Home  Loan  for  Senior  Citizen – Eligibility Criteria 

Applicants must fulfil the following criteria to avail of the best offers on RBL Bank Home loan interest for senior citizens. 

Category of Applicant: 

• Salaried Individuals
• Salaried NRIs
• Self-employed individuals
• Self-employed professionals

Other Criteria: 

• Minimum net income- Rs. 1.5-1.8 lakh per year, depending on the category of borrower
• Minimum age at loan sanction- 24 years
• Maximum age at maturity- 65/70 years, depending on the category of borrower 
• Work experience/Business Continuity- At least three years