RBL offers some amazing credit cards, such as the RBL World Safari Credit Card, which can be used for RBL Bank’s Dial for Cash, a pre-approved loan facility available to select RBL Bank credit cardholders. It allows eligible customers to access instant funds without affecting their existing credit card limit. The loan amount is directly deposited into the customer’s bank account, and repayment is made through Equated Monthly Installments (EMIs) over a chosen tenure.
Features of Dial for Cash on RBL Bank Credit Cards
- Pre-Approved Loan: The facility is available to eligible RBL Bank credit cardholders, subject to the bank’s internal criteria.
- Zero Documentation: No additional paperwork is required, making the process quick and hassle-free.
- Quick Fund Release: Funds are transferred to the customer’s bank account within four working days, subject to successful processing.
- Flexible Repayment: Customers can choose from multiple tenure options to repay the loan in easy monthly installments (EMIs).
- Separate Loan Account: The loan is treated as an individual account, and repayments are made independently of the credit card dues.
Eligibility Criteria
RBL Bank’s internal policies determine eligibility for the Dial for Cash facility, which is available to select credit cardholders. The bank assesses various factors, including credit history and repayment behavior, to pre-approve customers for this offer.
How to Apply?
Eligible customers can apply for the Dial for Cash using either of the following methods:
- Phone: Call RBL Bank’s customer care at 022 62327777.
- SMS: Send “CASH” to 5607011 from your registered mobile number.
- RBL MyCard App: Log in to the app and navigate to the Dial for Cash section to apply.
- Chatbot: Use RBL Bank’s chatbot service for assistance with the application process.
Cancellation of Dial for Cash
The cardholder can cancel the loan within three (3) days of a successful fund transfer by contacting RBL Bank’s customer care. If the loan is cancelled within this three-day period, which is the free look-up period, no charges will apply, and the user must repay the entire amount to the bank.
Prepayment/Foreclosure for Dial for Cash Facility
If you’re considering repaying your RBL Dial for Cash loan ahead of schedule, here are the key conditions to be aware of:
Full Prepayment Only
You can prepay the entire loan at any point during the tenure by contacting RBL Bank’s customer care. However, part-prepayments are not allowed under this facility.
Outstanding Dues at Prepayment
At the time of prepayment, you’ll be required to pay the full outstanding principal amount, accrued interest, and any other applicable charges.
Prepayment Charges Apply
RBL Bank will levy prepayment charges as mentioned in the bank’s Schedule of Charges. It’s advisable to check these costs beforehand to understand the total repayment amount.
Bottom Line
RBL Bank’s Dial for Cash facility is a convenient solution for quick and easy access to funds during financial emergencies or planned expenses. With pre-approved offers, zero documentation, direct bank transfers, and flexible EMI options, it stands out as a practical alternative to traditional personal loans. However, it’s important to review the applicable fees, prepayment conditions, and usage restrictions before opting in. Ensure you check your eligibility and understand the terms to maximize the benefits of this instant credit facility.