RBL Bank Renovation Home Loan

A home reflects your lifestyle and achievements. Making it more beautiful or personalised may be a long-awaited desire of yours. Fret not; an RBL Bank home renovation loan could be just what you need. Home renovation loans are a credit option used to renovate, repair, or improve your existing residential property, enabling you to make your home more aesthetic, comfortable, valuable, and inviting. However, there are certain things you should know before initiating your loan application. These include the applicable interest rates, eligibility criteria, required documentation, associated fees, and more. Keep scrolling down and make your “someday” happen today.

RBL Bank Home Renovation Loan Features & Benefits

Let’s take a look at the applicable features and benefits of the RBL Bank home improvement loan: 

• Home Loans available up to ₹15 Crore
• Repayment tenure extends up to 30 years
• Competitive interest rates offered
• Tax advantages of up to 3.5 lakhs

RBL Bank Home Renovation Loan Interest Rates

RBL Bank’s home improvement loan interest rate and other key parameters are as follows: 

RBL Bank Home Renovation Loan Eligibility Criteria

The following are the applicable eligibility criteria regarding the RBL Bank home renovation loan:

• You must be either a salaried, professional, or self-employed business owner.
• You must be somewhere between 24 to 70 years old. 
• You must have at least three years of work experience or business continuity. 
• You must have a good credit score and a positive repayment history. 
• You must be an Indian citizen, including a salaried NRI.

RBL Bank Home Renovation Loan Documents Required

The following are the required documents to apply for the RBL Bank home improvement loan:

• Proof of Identity: PAN Card, Aadhar Card, Driving License, or Passport.
• Proof of Address: Voter ID, Electricity Bill, or Lease/Sale Agreement.
• Proof of Income: Bank statements, income tax returns, GST returns, etc.
• Proof of Employment: The last three months’ pay slips, employee ID, or the most recent Form 16 issued by the employer.
• Proof of Business: Last 2-year Balance Sheet, P&L sheet, GST certificate, etc. (Applicable for non-salaried individuals)

RBL Bank Home Renovation Loan Processing Fees and Other Charges

Let’s examine the associated fees and charges of the RBL Bank home renovation loan: