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Reliance Loans offers instant loan options of up to 75 Lakhs for individuals and small businesses. The loan is designed to provide quick and convenient access to funds for a variety of financial needs, including personal expenses, business expansion, and home purchases.
Our Features :
- Check your offer in an instant
- Quick & Easy
- 100% Paperless
- Instant approval anytime
- No hidden charges
Amount Tenure, Fees, and Other Charges: Loan Amount: ₹5,00,000/- to ₹75,00,000/- ; Minimum Annual Percentage Rate (APR): 6.5%, Maximum APR: 12.5% ; Minimum repayment period: 6 months ; Maximum repayment period: 120 months ; Processing Fees: 0% to 5% depending on eligibility
If customers opt for a Value-Added Service, the fee for the same shall be levied additionally.
Representative Example: For ₹5,00,000 borrowed for 12 months, with annual interest rate (APR) of 19%*, a user would pay : Processing Fees = 0% to 5% depending on the eligibility of the customer ; Interest = ₹4750 ; Monthly EMI= ₹2479 ; Total Amount Repaid after a year = ₹29750
The annual interest rates and processing fees will vary per the customers’ risk profile.
The maximum Annual Interest Rate can go up to 41% (However, only a fraction of our customers get an interest rate higher than 30% per annum).
* T&C apply
Features and Benefits
- Loan without income proof – Borrowers are not mandated to provide any income proof in order to become eligible to receive the required funds.
- Prepayment option available – Prepayment can be availed after 6 months starting from the date of loan disbursement. In case a customer wants to prepay his or her loan before the completion of 6 months, he/she will have to get product approval for the same.
- Loan repayment through several channels – If a customer secures a personal loan under this financing plan, he or she will have the flexibility to repay the debt using a channel that is convenient to him/her such as Demand Draft (DD), National Automated Clearing House (NACH), and Electronic Clearance Service (ECS).
- Loan approved and disbursed without any hassles – Once the documentation process is completed, the loan will be approved in 3 days.
- No collateral required – In order to be eligible for this personal loan scheme, the borrower is not required to provide any collateral or third-party guarantor as security.
- Online EMI clearance status check – When an individual avails a loan under this scheme, he or she will be able to benefit from the EMI clearance status check facility available at the company’s online portal at https://relloans.online. The borrower can also call the customer care team at Reliance Money from 9:30 a.m. to 5:30 p.m. on all days except Sundays and public holidays to learn about the status.
- Insurance policy add-on – Reliance Money has a tie-up with its Group Company known as Reliance General Insurance Company Limited to offer insurance facility to its customers who have applied for a personal loan through the company.
How to apply for Loan
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Eligibility Criteria
- Age : for salaried person : 21 years to 60 years & for Self-Employed : 22 years to 55 years
- Net Monthly Income :for salaried person- Rs.12,000 & for Self-Employed : Rs.30,000
- Minimum Loan Amount :for salaried person-Rs.100000 & for Self-Employed : Rs.100000
- Maximum Loan Amount :for salaried person Rs.20 lakh & for Self-Employed :Rs.15 lakh
Documentes needs
- Proof of Identity for Salaried Individuals Passport, Voter’s ID, Driving License or PAN Card and for Self Employed Passport, Voter’s ID, Driving License or PAN Card
- Proof of Residence for Salaried Individuals Passport or utility bills and for Self Employed Passport or utility bills
- Proof of Income for Salaried Individuals Bank statement of salary account for the past two years for Self Employed Audited financial statement of the past two years
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We believe loan doesn’t have to be expensive,that’s why we continually strive to offer the most competitive intrest around.
Personal Loan is a monetary item for salaried people in India. You can utilize the assets to determine any financial cost. It is an unstable credit where you don’t need to submit guarantee to the moneylender
Our Loan Types
01.
Personal Loan
Personal Loan is a monetary item for salaried people in India. You can utilize the assets to determine any financial cost. It is an unstable credit where you don’t need to submit guarantee to the moneylender
02.
Education Loan
Any Resident Indian can apply for the loan. The loan applicant’s minimum age should be 18 years and the maximum should be 35 years. Students should have secured admission to a higher education course in recognised institutions, Indian or abroad, through entrance tests.
03.
Home Loan
Home loans from the Reliance Finance Loan have some of the most attractive and best home loan interest rates in India, starting at 8.55% p.a. A loan tenure extension option of up to 30 years guarantees a comfortable repayment period.
04.
Vehicle Loan
A Vehicle Loan is a loan that allows you to purchase two and four wheelers for personal use. Typically, the lender loans the money (making a direct payment to the dealer on the buyer’s behalf) while the buyer must repay the loan in Equated Monthly Instalments (EMIs) over a specific tenure at a specific interest rate.
05.
Mortgage loan
06.
Medical Loan
In this case, you will have to pay from your cash reserves, or go in for a Personal Loan that takes care of your medical expenses. These loans will cover surgery, hospitalisation, chemotherapy and other treatments. Reliance finance companies offer such Personal Loans.
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Happy Stories
I am happy they have helped in getting loan from reliance finance department for sum of Rs. 2 lakh. the did a direct approval online and then bank people came and took documents. good simple process for me.
maansi sharma
I am very happy to got this loan from reliance. it is a balance transfer loan for a very low interest rate. i also got 1 lakh which is helping me.
thanks, sir
swati roy
The service is nice, and the people are good. I get a loan from the Reliance Finance. It takes a 1 day to get the loan. That’s why they are very actively collecting forms, too.
Mukesh Shah
FAQs on Reliance Personal Loan
- What are the channels through which I can repay the loan?
You can repay the loan through National Automated Clearing House (NACH), Electronic Clearing System (ECS), or demand draft.
- How much interest do I have to pay and how is it calculated?
The final rate offered to you will be as per your eligibility. It will be calculated based on the monthly reducing balance. To be precise, while calculating, your outstanding principal at the end of each month will be taken into consideration.
- Is there any insurance facility available with the personal loan?
Yes, the personal loan scheme comes with an insurance facility offered by their group company – Reliance General Insurance Company Limited.
- Can I use this loan for commercial purposes?
Yes. You can use a Reliance Money personal loan for commercial reasons.
- Can I prepay the loan?
Yes, you can prepay the loan after 6 months from the date of disbursement. However, you have to pay 2% of the outstanding amount along with the applicable GST as foreclosure charges. Upon prepaying, you can request for a pre-closure statement by calling the customer care number from 9:30 a.m. to 5:30 p.m. except Sundays and public holidays. Alternatively, you can also send an email to customercare@relloans.online asking for a pre-closure statement.
- Can I prepay the loan?
You will need to go down to the branch along with this statement to close your loan along with your ID proof, address proof, bank statement reflecting your last month’s EMI clearance and a cancelled cheque for RTGS (in case of refund). Once you complete the formalities, you will receive an NOC certificate along with an indemnity later within 12 working days after your loan is closed.