The approval of your RBL Bank personal loan depends on factors, such as credit score and net monthly income,age, debit-income ratio, relationship with RBL bank, and so on.  Though each bank has its own algorithm to calculate how much loan amount can be given to you, it mostly averages to 10-20 times your monthly income. 

The bank looks to restrict your monthly EMI amount to 40-50% of your monthly income. Therefore, if your monthly income is Rs. 50,000, the bank sees whether you can pay a monthly EMI of Rs. 25,000 comfortably. Based on that, you can get a personal loan of up to Rs.15 lakhs with a monthly income of Rs. 50,000. 

But, applicants have to keep in mind that there are other factors affecting your loan amount eligibility. like– 

  • Your age 
  • Your employment type
  • Your current loans and the EMIs you are paying
  • The spending pattern of your credit card and the repayment history
  • Your relationship  with the bank

If you are looking for a personal loan with the best interest rates, check out the CreditMantri Personal Loan page for the top 10 personal loans for 2022. 

You might also be interested to read about Personal Loans For Individuals With Low Income