RBL Bank Business Loan Interest Rate Calculator
There are multiple factors on which basis bank calculates your interest rate. Some of these factors are -
- Loan amount: Business loan rate in RBL Bank depends upon the loan
amount you apply for. Higher the loan amount, lesser will be the interest rate. Bank gives
loan of minimum ₹ 1 Lakh to upto
₹ 10 Lakh. Interest rate for high loan amount can be
lower resulting in lower EMIs.
- CIBIL Score: RBL Bank offers loan at higher interest rate if your
CIBIL score is low or vice versa. However, to get loan from RBL Bank, your
CIBIL score should be atleast 700. Higher the CIBIL Score, higher the chances of getting a
loan at lowest business loan interest.
- Revenue: RBL Bank will offer you loan at lower interest rate if you
have higher monthly revenue. Bank gives loan to the borrowers whose annual turnover is at
least ₹ 25,00,000.
- Time in Business: RBL Bank offers loan at lower rates if you have
significant business experience. Minimum business existence to get loan
from RBL Bank is 36 months.
RBL Bank Eligibility Criteria
Bank have a detailed criteria to determine the eligibility of a borrower for business loans. Some of the key criteria are::
||25 to 65 years
|Business Existence (in months)
||₹ 1 Lakh to
₹ 10 Lakh
|Owned House or Place of Work
||750 and above