As times have progressed, cars have become an essential part of our daily lives. And with the evolution of financial banks offering comprehensive loan solutions, buying a car has also become much easier than before. With a wide range of cars available for financing these days, buying a first car or upgrading to a premium model is now available thanks to attractive car loan schemes.

RBL Bank is one of the major banks in India that has been offering loan services to its consumers at attractive rates. RBL Bank was founded in Kolhapur, Maharashtra in 1943 to essentially cater to the needs of business merchants in the Kolhapur-Sangli belt. Over the decades, the bank has stretched its wings and entered the financial services by offering retail, commercial and corporate needs (amongst others).

RBL bank has grown its domestic network across 13 states and union territories with over 193 branches and 362 ATMs. RBL Bank is also one of the companies to have featured in the Fortune Next 500 list of companies in India. RBL bank has undertaken a lot of initiatives over the years for betterment of the Indian society. RBL bank has launched the India Startup Club that helps budding entrepreneurs with thorough banking requirements. It also started a monetary literary program called Saksham that provides education to villages in rural India.

Overview of RBL Bank Car Loan

RBL Bank Car Loans are available for a wide variety of car segments, be it a small car or a premium vehicle. You can avail a car loan for a vehicle for as low as Rs. 50,000 with the ability to repay within 1 to 5 years. With the ease of getting finance for 90% of the value of the car, RBL bank car loan matches the needs of the customers perfectly.

Why Pick RBL Bank Car Loan?

RBL bank offers many attractive benefits to avail a car loan:

RBL bank car loan are available for a wide range of vehicles such as hatchbacks, sedans, SUVs and MUVs.

RBL bank car loan are available for loan amount as low as Rs. 50,000 and upto Rs. 30 lakhs for salaried and upto Rs. 1 crore for self-employed.

You can get upto 90% of the car value that includes VAT, insurance, etc. at RBL.

RBL bank offers a fixed rate of interest which assures comfort and reliability in loan repayment.

Features of RBL Bank Car Loan

RBL bank car loan has some amazing features:

By availing RBL Car loan, your loan Tenure can be extended upto 5 years. The minimum loan period has to be at least year.

You can get loan up to 90% of the car value at RBL car loan.

Minimum loan amount is Rs. 50,000 and maximum is Rs. 30 lakhs for salaried and Rs. 1 crore for self – employed.

RBL Car loan are available at attractive interest rates.

Benefits of Applying RBL Bank Car Loan on Letzbank

There are many benefits when you apply for RBL Car Loan at Letzbank website. For instance, you get to search all the details of every major bank that is offering a loan and make quick comparisons as per your individual needs and requirements. All the details are provided in clear and simple definitions with no hidden costs involved. Our services are free of cost. You also get access to instant quotes by banks within seconds. By submitting our online form with your requirements, we work with you to get the best deal on car loan.

RBL Bank Car Loan Eligibility

RBL Bank Car Loan are available as per the following eligibility:

For Salaried Individuals

Eligibility

Age Limit – minimum – 21 years, maximum – 58 years (60 years for govt. employees).

minimum – 21 years, maximum – 58 years (60 years for govt. employees). Should be working for last three years.

Must have a land line or a post-paid mobile connection.

Documents Required

Pan Card

Proof of Identity (any one of these) - Voter ID, Driving License, Passport, Aadhar Card.

Voter ID, Driving License, Passport, Aadhar Card. Residence Proof (any one of these) – Telephone Bill, Electricity bill, Property Papers, bank statement, Passport.

Telephone Bill, Electricity bill, Property Papers, bank statement, Passport. Last 3 months’ salary slip.

Last two years’ Form 16 or IT returns.

Bank statements from the salaried account for the last year.

For Self Employed Individuals

Eligibility

Age Limit – minimum – 25 years, maximum – 65 years.

minimum – 25 years, maximum – 65 years. Must be in the profession for at least three years.

Must have a fixed landline at official place or home and a post-paid connection.

Documents Required

Pan Card

Proof of Identity (any one of these)- Voter ID, Driving License, Passport, Aadhar Card.

Voter ID, Driving License, Passport, Aadhar Card. Residence Proof (any one of these) – Telephone Bill, Electricity bill, Property Papers, bank statement, Passport.

Telephone Bill, Electricity bill, Property Papers, bank statement, Passport. Audited financials such as Income Tax Returns for the last 2 years.

Last 12 months’ bank statement.

RBL Bank Car Loan Interest Rates

RBL bank car loan interest rates are based on a floating balance at 12% - 14% per annum, with a base rate of 10.65%.

RBL Bank Car Loan EMI Calculator

You can calculate your monthly EMI by using the simple and accurate EMI calculator from Letzbank. Visit Letzbank and enter the loan details required to determine your monthly EMI such as the loan amount, time period and rate of interest. Them sit back and let our loan calculator work its magic within seconds.