Previous studies have reported correlates of bodily self-illusions such as the rubber hand in signatures of rhythmic brain activity. However, individual studies focused on specific variations of the rubber hand paradigm, used different experimental setups to induce this, or used different control conditions to isolate the neurophysiological signatures related to the illusory state, leaving the specificity of the reported illusion-signatures unclear. We here quantified correlates of the rubber hand illusion in EEG-derived oscillatory brain activity and asked two questions: which of the observed correlates are robust to the precise nature of the control conditions used as contrast for the illusory state, and whether such correlates emerge directly around the subjective illusion onset. To address these questions, we relied on two experimental configurations to induce the illusion, on different non-illusion conditions to isolate neurophysiological signatures of the illusory state, and we implemented an analysis directly focusing on the immediate moment of the illusion onset. Our results reveal a widespread suppression of alpha and beta-band activity associated with the illusory state in general, whereby the reduction of beta power prevailed around the immediate illusion onset. These results confirm previous reports of a suppression of alpha and beta rhythms during body illusions, but also highlight the difficulties to directly pinpoint the precise neurophysiological correlates of the illusory state.