RBL Education Loans

RBL offers its education loan for students who wish to pursue higher education. The loan scheme is unique, as it has a tenor-based installment structure. The loan can be availed for studies both in India and abroad.

Features

• The loan amount ranges from Rs.50,000 to Rs 10 lakhs for studies within India, and can go up to Rs. 20 lakhs for studying abroad.

• Customers enjoy a convenient principal repayment period, in which the moratorium comes 1 year after course completion or 6 months after getting a job, whichever comes earlier.

• The loan covers 100% of the tuition fees, as well as covers living and other expenses

• The documentation process is simple and hassle-free

• Customers enjoy lower interest rates in case of studying at top institutions

• One enjoys a higher LTV for loans where collateral is involved

• The loan sanction and disbursal process is fast and convenient

• There is no collateral involved for loans of up to Rs. 4 lakhs

Loan Criteria and Eligibility

• Both applicants and co-applicants need to be Indian residents

• The minimum net income should be Rs 1.5 lakhs per year

• The co-applicant can be self employed or salaried

• The co-applicant can be a family member or spouse

Documents Needed 

For Applicant and Co-Applicant

• Completed application form, along with signature

• Age proof and ID proof

• Proof of address

• Proof of relation with co-applicant

• A passport-sized photograph

• Applicant’s education proof

• Proof of admission along with the complete fee structure and estimated expenses

For Studying Abroad

• Passport (mandatory)

• If the institute is in the USA, then I-20 form is required, along with scholarship certificates (if applicable)

• Marksheets and certificates in English proficiency

Total list of all financial documents needed

• Documents needed from salaried individuals: salary slips of the last 3 months/salary certificates along with Form 16 issued by the employer, and 3 months worth of bank statements

• Documents needed from self-employed individuals and sole proprietors: Last 2 years’ ITR along with certified financial documents, and 3 months’ bank statements

• Documents needed from self-employed professionals: Last 2 years’ ITR along with certified financial documents, 3 months’ bank statements, professional qualification certificates, and degree certificates (in case of a professional)

• Other documents needed (when applicable): Repayment track record, business proof, and collateral related documents

News

RBL Unleashes Its Customer-Centric RBL Practo Credit Card

The all-India healthcare platform has teamed up with RBL to offer the RBL-Practo credit card. This is the very first Indian credit card that is available in both website and on apps. It is hoped by the developing parties that by using the card, customers shall now be able to pay more attention to their health and well-being.