Reliance Loan Against Property

Salaried individual

Salaried individuals include individuals who are employed in multinational organisations, listed public corporations, government organisation, and private limited companies, closely held unlisted companies, an individual who is a partner or a sole proprietor. The other requirements are as follows:

The type of property that are funded are those that are ready to sell, properties under construction of pre-approved builders. The minimum property area for loan in the case of residential property is 500 Sq. and in the case of commercial property it is 250 Sq. ft.

Self-employed individual

Self-employed individuals are those who have professional qualifications like practicing doctors, C.A’s, engineers, architects and company secretaries. The other requirements are as follows:

The type of property that are funded are the ones that are ready for sale, properties under construction of pre-approved builders. The minimum property area for loan in the case of residential property is 500 Sq. and in the case of commercial property it is 250 Sq. ft.

Self-employed non-professional individuals

They are the businessmen who are engaged in business like dealers, wholesalers, distributors, traders across service, trading and manufacturing. The other requirements are as follows:

The type of property that are funded are the ones that are ready for sale, properties under construction of pre-approved builders. The minimum property area for loan in the case of residential property is 500 Sq. and in the case of commercial property it is 250 Sq. ft.

Documents required for Reliance Loan against Property

The individuals will have to submit the following documents along with the application form:

1. Passport or PAN card or Ration card copy.
2. Passport sized photographs of the applicant and co-applicant, if any.
3. The applicant and co-applicants latest Form 16 and 3 months’ salary statement.
4. Latest 6 months bank statement of the applicant and co-applicant, if any.
5. Repayment track record like CIBIL score and credit report.
6. Copy of lease document for LRD.
7. You have to submit 6 months bank statement of the main operating account.
8. If you are a professional, then you will have to submit a qualification certificate.
9. Pro forma invoice of the equipment that you intend on purchasing.

The sole proprietor or partner or the private limited company will have to submit the following along with the application form:

1. Copy of passport, PAN card or Ration card.
2. Office address proof document.
3. Passport sized photographs of the applicant or applicants.
4. You must submit the certified copies of MOA or AOA or partnership deed.
5. Credit history report.
6. 2 years audited financial document.
7. 2 years income tax return of directors or partners.
8. If you are a professional, then you need to submit the qualification certificate.
9. Copy of 6 months bank statement of the main operating account has to be submitted.
10. Copy of lease document for LRD.

Features and Benefits of Reliance Loan against Property

Reliance Commercial Finance loan against property is given:

1. Against residential, commercial, industrial property and land.
2. Financials are not required for loans up to Rs.3 crore.
3. You get higher LTV and tenure.
4. You are given the flexible repayment option.
5. Salaried individual, self-employed individual and self-employed non-professor can avail Reliance Commercial Finance loan against property.

Fees and charges of Reliance Loan against Property

The fees and charges are as follows:

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