Reliance Home Finance

Reliance Home Finance is an NBFC that offers you loans for property purchase and construction, in-principle loan approval before identifying a property, as well as loans against property. Given below is a quick summary of Reliance Home Finance (RHF) loans:

There are many more fees involved in the sanction, use, and closure of a home loan, such as CERSAI charges, documentation and stamping charges, loan cancellation fees, and EMI cycle change fees. It’s better that you know all home loan fees and charges before you apply for one.

Reliance Home Finance Interest Rates 2023

RHF home loans are based on their Prime Lending Rate (PLR). Though the PLR looks high, the interest rates you will be charged is quite affordable and competitive. The prevalent interest rates are listed in the table below:

Compare: Home Loan Interest Rate all Banks

Reliance offers innovatively designed home loan schemes tailor-made to suit the needs of varied customers. Reliance housing loans also provide a doorstep service, instant self-approval, document checklist service, quick disbursal of loan and customer assistance. This makes the entire process of getting a loan smooth and hassle-free experience.

Features and Benefits of Reliance Home Finance:

• There is no income proof scheme available.
• You can apply for custom-made housing loan solutions.
• Enjoy flexible loan term for up to 25 years.
• You also have the option of Balance Transfer at reasonable interest rates.

Reliance Home Finance Hous Eligibility Criteria

• The applicant has to be of at least age 21 and above to apply for house finance from Reliance.
• Whether salaried or self-employed, you must have a steady income (Trade / Service Continuity).
• Stability in Residency.
• The minimum income per annum should be INR 2 lacs.

Documentation Required for Reliance Home Loan:

For Individual (Salaried/ Entrepreneurial) Home Finance:

• A duly filled Reliance Home Loan Application Form.
• Passport sized photographs of the applicant and co-applicant affixed as directed.
• KYC Documents as identity and residence proof. It could be a copy of your Aadhar Card, Voters ID, Driving License, Passport and/ or PAN Card.
• Your most recent Form 16.
• Salary slips for the previous three months.
• Bank statements for the last six month.
• Repayment track record (if applicable).

For Sole Proprietorship/ Partnership/ Private Limited Firm:

• A duly filled Reliance Home Loan Application Form.
• Passport sized photographs of the applicant and co-applicant affixed as directed.
• KYC Documents as identity and residence proof. It could be a copy of your Aadhar Card, Ration Card, Voters ID, Driving License, Passport and/ or PAN Card.
• Attested copies of MOA / AOA /Partnership papers
• Audited financial papers for the last two years.
• Income Tax Returns of directors/ partners for the last two years.
• Bank statements (of main operating account) for the last six months.
• Expert qualification certificate from doctors, chartered accountants, advocates, civil engineers and architects.

How to Apply for Reliance Home Loan through BankBazaar.com?

Applying for Reliance home finance from BankBazaar.com is quite simple and exceedingly interactive. The steps involved in the application process are given below:

• Go to BankBazaar.com. On the homepage, find the navigation panel on the top of the home page and click on ‘loans’. It will take you to a list of loans offered by Indian banks and financiers. Once you hit the ‘home loan button, you can choose ‘Reliance Home Loans’ from the adjacent slab.
• The ensuing page will give you everything you need to know about housing loans from Reliance Home Finance. You will find various well-placed choices there, including ‘Check eligibility’, ‘EMI calculator’ and more. Pick the specific option to start the parallel action.
• There is an ‘Apply Now’ button, shown glaringly at the end of this page. Click on this to start the application process, which will be sent to Reliance Housing Loan Financier to take it forward.
• You can track the status of your application via texts and email alerts. BankBazaar boasts of a competent customer support team and is available at all times to redress your concerns and enquiries.

FAQs on Reliance Home Finance

1. Who can avail of Home Loans from Reliance Home Finance?

   Salaried employees from age 21 to 58 (or 60 if that is the retirement age). Entrepreneurial individuals in the age group of 21 to 65 years (as loan term ends) can also apply for Reliance Home Finance Loan. Partnership companies and private limited firms.

2. What do Reliance Home Loan cover?

   It can be availed for the following purposes.

   • To buy a residential property.
   • To transfer balance and to Top Up.
   • Current Customer Top Up.
3. How much loan can I apply from Reliance Home Fiance?

   You may borrow up to 80 percent of the property cost towards purchase of your dream house. The home loan is available for up to INR 75 lacs and 75 percent of property value for housing loans above INR 75 lacs.

4. What are the loan term options?

   Reliance home loans tenure vary from a minimum of three years to a maximum of 20 years. This flexible term is beneficial to people of all financial backgrounds as they can comfortably pay off the loan.

5. Can you tell me about the loan procedure and repayment option?

   Home loans from Reliance Home Finance are processed within two working days of finishing the whole documentation. You also have the option to pay off in advance. You can make partial pre-payments of a minimum sum of INR 50,000 any time after the day of your initial EMI. You can repay using Electronic Clearing System (ECS) or Post-dated cheques (PDCs).

6. What are the stages involved in getting a home loan?

   The stages involved in getting the loan are:

   • Application
   • Processing
   • Documentation
   • Sanctioning of the loan
   • Disbursement