RBL Bank Short Term Personal Loan

An RBL short-term personal loan is a handy credit option for those who need urgent funds for a short duration. You can get instant approval and disbursal on the same day you apply, without the need to pledge any assets as collateral or security. Moreover, repayments can be made through EMIs, and you can also pay in advance without worrying about any prepayment charges. The maximum loan amount you can avail of is Rs. 20 lakh, subject to your creditworthiness and repayment capacity. Moreover, the bank offers competitive interest rates, lower processing fees, moderate eligibility criteria, and minimal documentation, making it a more borrower-friendly credit option. For further details, let’s scroll down. 

Features and Benefits of an RBL Short Term Personal Loan

Following are the pertinent features and benefits of a short term loan online from RBL Bank:

• Competitive interest rates
• Flexible repayment options
• High loan amount 
• No collateral required 
• The digital application process 
• Quick fund disbursement  

Why Do I Need An RBL Short Term Personal Loan?

You can apply for an RBL short-term personal loan for nearly any of your personal needs, such as:

• To meet urgent or unexpected expenses, such as medical bills, travel costs, education fees, etc.
• To avoid high-interest debt, such as credit card dues, overdrafts, etc.
• To improve your credit score, consolidate your existing loans and pay them off on time.
• To fulfil your personal or professional goals, such as home renovation, wedding, business expansion, etc.

Eligibility Criteria

The RBL short term personal loan eligibility criteria are as follows: 

• The applicant must be between 25 and 60 years old.
• The applicant must have a minimum monthly income of ₹40,000.
• The applicant must have at least 3 years of total work experience.
• The applicant must be an Indian citizen.

Documents Needed for Instant Personal Loans

The RBL short term personal loan document requirements are as follows: 

• Proof of Identity: PAN card, Driving license, Passport, or Aadhaar card.  
• Proof of Address: Utility bills, ration card, or Voter’s ID.
• Proof of Income: Salary slip for the last 2 months, and bank statements from the past 3 months.

Things to Consider While Opting Short Term Personal Loan

The following are the key factors you need to consider while taking a short term loan online from RBL Bank:

• Assess your financial situation.
• Plan your repayment strategy.
• Review the eligibility criteria.
• Understand interest rates and fees.
• Check customer feedback.

Apply for RBL Short Term Personal Loan Online

To apply for an RBL short term personal loan, you are required to follow the simple steps given below:

• Go to the official website of Urban Money.
• Click on the “Loan” option, and then select “Personal Loan” from the horizontal menu bar on the home screen.
• You will be directed to a new page titled “Personal Loan.”
• Locate “RBL Bank” as you scroll down and click on the “Enquire Now” button.
• A short digital form will appear on your screen where you need to enter your name, mobile number, and city.
• A 6-digit OTP will be sent to your mobile number.
• Add the OTP and tap the “Submit” button.
• Our dedicated loan specialist will reach out to you within a day regards the RBL Bank and guide you until the loan amount is credited to your bank account.