A mortgage loan from RBL Bank to meet your financial needs

An overdraft facility against your immovable assets to consolidate your debts

RBL Bank Overdraft Against Property

This overdraft facility helps borrowers get financial assistance against their residential or commercial property to meet their personal needs. Borrowers can use this OD facility for wedding expenses, foreign travel expenses, medical exigencies, higher education expenses, debt consolidation and so on.

Features of RBL Bank Overdraft (OD) Facility Against Property

Why this Loan?

  • The RBL Bank Overdraft Against Property is meant for borrowers who want to avail financial assistance by mortgaging their residential/commercial property to the bank to meet their urgent financial needs. They can also avail this scheme as a consolidation loan and pay off their debts
  • Since this is an overdraft facility, the borrower only pays interest on the utilised amount

Loan Amount

  • The maximum loan amount offered under this loan scheme is Rs. 5 crore. Borrowers can avail a loan of up to 80% of the property value


  • The interest rate applicable to this loan is defined as the sum of two factors: one-year Marginal Cost of Funds based Lending Rate (MCLR) and a Spread factor. As of October 2020, the one-year MCLR of RBL Bank is 8.95% but the Spread factor applicable is not mentioned on the bank’s website. We suggest talking to a bank representative to get the details before applying for this loan


  • This loan must be repaid within 10 years or before the borrower reaches the age of 65 years, whichever is earlier

Security Needed

  • The bank asks for the first charge of equitable mortgage of property pledged for this loan


  • The borrower must be at least 23 years old
  • The borrower must be an Indian citizen
  • Salaried employees of government and private organisations with at least Rs. 1.5 lakh gross salary per annum are eligible for this loan
  • Self-employed professionals and self-employed individuals with at least Rs. 1.5 lakh net profit per annum are eligible for this loan

Margin Money (Borrowers Contribution to Total Cost)

  • The bank charges up to 20% of the total loan amount as margin for this loan

Note: Margin money refers to the amount the borrower contributes to the overall amount required. The bank will cover the rest. So, if the total amount needed is Rs. 20 lakh, a 20% margin means you will have to contribute Rs. 4 lakh. The bank will provide the balance of Rs. 16 lakh.

Processing Charges

  • As of October 2020, this information is not mentioned on the bank’s website. We suggest calling the bank’s customer care number to know the details

Documents Needed for Individuals (Salaried and Self-employed)

  • Loan Application Form duly filled and signed by the applicant and co-applicant, if any
  • Two Passport Size Photographs of applicant and co-applicant
  • Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
  • Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
  • Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income/Banking Proof for Salaried Professionals: Last 3 months’ salary slip, Form 16 or income tax returns
  • Income/Banking Proof for Self-employed Professionals/Non Professionals: Computation of income of last 2 years, Balance Sheet, Profit and Loss Account, Registration Certificate, GST Return, Income Tax Challan / Form 26AS / TDS Certificate, IT Assessment, etc.
  • Property related documents

Reference Facts:

  • RBL Bank Website: www.rblbank.com
  • Headquarters: Mumbai, Maharashtra
  • Call Centre Number: 022 6115 6300