RBL Bank Students Personal loan

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Co-Founder, Square Yards & Chief Business Officer, Urban Money

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Turn your higher education aspirations into a reality with the RBL Bank Education Personal Loan. This convenient and straightforward loan facility is specifically designed to support your educational journey, whether it be in India or abroad. With flexible repayment options and a low-interest rate, RBL bank’s student instant loan stands out as a top choice for student financing. Discover why their instant loan option is highly regarded in the market, offering seamless financial support for your academic pursuits. Get to know the exclusive benefits and opportunities to help make your educational dreams come true.

RBL Bank’s Personal Loan for Students – Highlights

Here is a quick snapshot of RBL bank education personal loans for students.

Spectrum	Covers a wide range of Courses and Universities
Maximum Loan Amount	INR 2 Crore
Interest Rate	Starting at 10% p.a.
Type of Interest Rate	Floating
Loan Tenure	Up to 120 months
Co-Applicant	Mandatory
Security	Residential/Commercial Property, RBL Fixed Deposits

Comparison of RBL Bank’s Student Loan from Other Banks

Here is a comparison between RBL bank student instant loans with other leading banks and NBFCs.

Bank’s Name	Rate of Interest (p.a.)	Loan Tenure
Punjab National Bank	10.40% onwards	Up to 10 years
Bank of Baroda	9.70% to 11.15% p.a.	Up to 15 years
State Bank of India	11.15% onwards	Up to 15 years
HDFC Bank	9.50% onwards	Up to 15 years

RBL Bank Personal Loan for Students – Fees and Charges

The RBL bank education personal loan fees and charges are as follows:

Fee/ Charge Type	Amount Charged
Interest Rate	Starting at 10% p.a.
Processing Fee	Up to 1% + GST
Pre-Payment Fee	Nil
Overdue Interest	2%

RBL Bank’s Personal Loan for Students – Documents Required

Following are the documents required for RBL bank’s education personal loan:

Complete Application Form with a passport-size photograph
Proof of Identity & Age: (PAN Card/ Passport/ Valid Driving License/ Voter ID Card
Proof of Address and Signature: (Voter ID Card/ Valid Driving License/ Indian Passport/ Utility Bill (Electricity/ Telephone/ Mobile – not more than 2 months old) / Bank Statement (Monthly Statement not more than 3 months old)
Relationship Proof with co-applicant
Document proof of the duration of the course and when it started. This can be a copy of the college or course prospectus or a certificate from the institution’s competent authority.
Educational proof of the applicant: (Mark sheets of 10th/ 12th/ Graduation or Diploma etc.)
Admission proof confirming the applicant’s admission along with the tuition fee, course fee details, duration of the course, etc.
Pay slips from the last 3 months or salary certificates and Form 16 issued by the employer.
Bank statement for the last 6 months.
Repayment track record, if any.
Business proof.
Total employment stability proof.
Collateral-related documents.

Documents Required for Students Planning to Study Abroad:

Copy of a passport
In the case of US institutes I-20 Form will be mandatory. Also, scholarship certificates, if applicable.
Mark Sheets/Certificates from English proficiency tests and other qualifying tests, such as the GRE/ GMAT/ SAT/ and TOEFL.

RBL Bank’s Personal Loan for Students – Eligibility Criteria

The eligibility criteria for the RBL Bank Education Personal Loan are as follows:

Both the applicant and co-applicant must be residents of India.
Annual income must be at least INR 2.4 lakhs
Any individual, such as a father, mother, brother, sister, or spouse, can be a co-applicant.
Co-applicants can be salaried or self-employed individuals.