A "low interest" loan shouldn't mean you have very little interest in paying it back!
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    Reliance Home Finance Home Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    9.5% - 9.85% Floating
    0.5% One time fee
    30L - 5Crs
    3-30 Years
    Response Time Within 30 minutes
    9.5% - 9.85% Floating
    0.5% One time fee
    5.1L - 30L
    3-30 Years
    Response Time Within 30 minutes

    Reliance Home Finance Home Loan is Rated as "Unacceptable" by 1 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Home Loan BYTES FROM OUR KITCHEN

    Wide-ranging, simple and aptly client centric, the home loan from Reliance capital is a tailor-made and opulent product that details out the proficiency and understanding commanded by this top-notch private financier. Reliance Home Loans are fashioned for the shrewd investor and is a lasting preference of any customer.


     

    You’re probably eligible for Reliance Home Finance if you are

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    Reliance Home Finance Minimum Age

    At least 21 years old

     Reliance Home Finance Maximum Age

    Less than 65 years old

    Reliance Home Finance Eligible Employment Type

    Salaried / Self-employed
    with regular income

    Reliance Home Finance Minimum Income

    Earn more than the minimum
    income required


     

    Your Reliance Home Finance amount eligibility is based on these factors

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    Reliance Home Finance Minimum Salary

    EMI limited to about 50%
    of monthly income

    Reliance Home Finance Maximum Loan to property value

    Loan capped @ 80%
    of property value

    Reliance Home Finance EMI

    EMIs of other loans lower
    your eligibility


     

    Increase your eligible Reliance Home Finance amount by these steps

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    Reliance Home Finance Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    Reliance Home Finance Maximum Tenure

    Choose longer tenure loan up to 30 years

    Reliance Home Finance Add parents as Co-applicant

    Alternatively add your parents


     

    Documentation needed to apply for Reliance Home Finance

    • 1. Signed application form with photograph
    • 2. ID and residence proof
    • 3. Processing fee cheque
    • 4. Last 6 months bank statements
    • 5. Documentation for salaried applicants:
      • Last 3 months salary-slips
      • Form 16 or Income Tax Returns
    • 6. Documentation for self-employed applicants:
      • Education qualification certificate & proof of business existence
      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

     

    Reliance Home Finance Interest RatesUpdated on 04 Dec 2016

    Reliance Home Finance Details
    Interest Rate 9.5% - 9.85%
    Processing Fees 0.5% of Loan amount
    Loan Tenure 3 Year to 30 Years
    Pre-closure Charges Nil
    Partial Pre-Payment Charges Nil
    Guarantor Requirement No Guarantor Required

     

    Home Loan from Reliance Home Finance:

    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 & 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.

    Who can apply for Reliance Home Finance Housing Loans (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.

    Fees & Charges for Reliance Home Finance:

    Type

    Amount

    Loan Processing Fees

    One percent of loan sum + applicable taxes

    Non-refundable processing fees (included in processing fees)

    INR 3000

    Cheque bounce charges (Penalty)

    INR 450

    Late Payment Penalty Fee

    Three percent per month on outstanding amount

    Cheque swapping charges

    INR 500 for every swap

    Prepayment charges

    No repayment charges for loans with floating rate of interest.

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

    Applying for Reliance housing 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.

    Frequently Asked Questions (FAQs):

    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 Housing 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 for?

    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

    News About Reliance Home Finance

    • Reliance Capital will list home finance venture; targets Rs. 50,000 crore loan book

      Reliance Capital decided to list its home finance business, Reliance Home Finance (RHF), independently in the stock market. It is also looking to grow the lending book of the home finance venture to Rs. 50,000 crore, in the coming years.

      Reliance Capital will hold 51% stake in RHF, while 49% of its equity will be allotted free of cost to Reliance Capital shareholders. They will receive one free share of RHF for each share held in Reliance Capital.

      Anmol Ambani, Director of Reliance Capital stated that there is a shortage of around 100 million residential properties in the country. To address this need, RHF has visualised a robust growth plan for the future. He also mentioned that the free allotment of shares will be valuable to their existing shareholders.

      RHF is a subsidiary of Reliance Capital, and it currently provides a wide range of finance solutions such as property loans, home loans, construction loans and affordable housing loans.

      27th September 2016

       

    Reliance Home Loan Reviews

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