To enable eligible borrowers as per the RBS Personal Loan eligibility norms, meet their personal fund requirements, Royal Bank of Scotland now offers you loans at and easy RBS Personal Loan rate. We at money superbazaar will provide you detailed information about loan, as well as related facts such as RBS Personal Loan interest rate levied, repayment tenure and modes, and RBS Personal Loan eligibility norms etc.

As per RBS Personal Loan review and bank’s official website, RBS Personal Loan is also named the CreditLine, and is a simple loan scheme that is offered to you, based on ‘borrow more; pay less’ concept.

RBS Personal Loan Interest Rate:

Loan is offered at varied RBS Personal Loan rate that is calculated on base rate. Following is the chart of the different rates that are as follows:

Fixed RBS Personal Loan rate: 20% per annum.

Floating RBS Personal Loan rate chart is as below:

Loan quantum disbursed:                        Effective RBS Personal Loan interest rate:

Below Rs.75, 000                                   20% per annum

75, 000 – 1, 25, 000                              18.5% per annum

1, 25, 000 – 2, 25, 000                           16% per annum

Quantum Of RBS Personal Loan:

The range of loan quantum lies between:

• Maximum of Rs.3lacs
• Minimum of Rs.25, 000

According to the RBS Personal Loan review and bank’s official website, the actual amount of loan that is disbursed depends on the internal policies determined by the bank.

RBS Personal Loan Eligibility Norms:

As per RBS Personal Loan eligibility criteria, following are the persons who are eligible for it:

• Salaried persons with a gross monthly income of at least Rs.12, 500
• An existing customer who has had a satisfactory handling of the account may also avail of loan, even if he/she is a self-employed or professional.
• Those who hold a credit card or have already availed of an auto loan or personal loan of any other kind.

Procedure To Be Followed While Applying For RBS Personal Loan:

RBS Personal Loan review and the bank’s official website, state that these are the various documents required, while applying for loan:

• Photo ID proof
• Address proof
• Adequate income proof, such as ITR or salary slip
• If you are already a customer of the bank, then no income proof is required.

A one-time processing fee of a total of Rs.1250 is required to be paid. Of this only Rs.750 is asked as upfront charges at the time of loan-sanction. The reaming amount will be asked of you only when you have made the first withdrawal from your account.

Tenure Of RBS Personal Loan:

Loan repayment tenure will of the length of time that is equal to the time that you take to repay entire amount of loan that has been disbursed to you.

Repayment Of RBS Personal Loan:

One of the characteristic features of this loan scheme is that the amount of equated monthly installment is not fixed, and you may repay in any amount that you feel convenient with. Repayment will be of loan principal and interest at RBS Personal Loan interest rate.

As per bank’s website and other RBS Personal Loan review, this amount of each installment is fixed at 5% of loan amount that is left outstanding at the end of every month.

Default Of RBS Personal Loan:  

If a borrower is not able to repay installment a particular month, then the facility to borrow amount from your personal loan account, i.e. CreditLine will remain suspended for that period.

Pre-Closure Of RBS Personal Loan:  

You may also choose to prepay loan amount, without having to incur any prepayment charges.

Product page URL: you may avail of further information about loan scheme, at following link:   <www.rbs.co.uk/personal/loans.ashx

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