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  • Reliance Money personal loan

    Reliance Money personal loan

    Whether you want to receive financial aid for a business expansion or to travel to your dream destinations, Reliance Money Personal Loans can be used to meet all kinds of credit needs. These unsecured loans are available for all salaried employees, self-employed businessmen, and self-employed professionals who have a regular source of income. The personal loans offered by Reliance Money come with several benefits such as no income proof requirement, flexible repayment period, no collateral, quick loan disbursal, insurance coverage, EMI clearance status check, multiple repayment channels, and many more. Once a customer decides to secure this loan, he or she will receive a personalised quote for the interest rate based on his/her income, work experience, age, credit score, etc.

    Loan Details
    Interest Rate ?Best possible rate offered based on eligibility
    Tenure? ?12 months to 48 months
    Overdue interest 26% p.a.
    Loan cancellation charges Rs.2,000
    Overdue Interest 30% p.a. on total overdue amount on a daily basis
    Prepayment/foreclosure charges Before 6 months from the date of disbursement: 5% of outstanding principal balance + GST After 6 months from the date of disbursement: 2% of outstanding principal balance + GST
    Outstation cheque charges Rs.45 for each cheque

    Features and Benefits of Reliance Money Personal Loans

    • Loan without income proof - When securing a loan under this scheme, borrowers are not mandated to provide any income proof in order to become eligible to receive the required funds. Reliance Money offers personal loans to its customers irrespective of their monthly income.
    • Loan repayment tenure - Once an individual opts for this loan, he or she will have the benefit of selecting a repayment period as per his/her convenience, repayment capacity, and circumstances. This scheme offers different repayment schedules matching the requirements of the customer, and the loan repayment tenure of this loan varies from 12 months to 48 months.
    • Prepayment option available - This scheme allows borrowers to repay their loan prior to the original repayment due date. This allows customers to repay the debt when there is a sudden influx of cash. However, it should be noted that this facility can be availed only 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).
    • Simple and fast documentation - When you apply for a Reliance Money Personal Loan, you will be able to get access to the required funds in no time owing to the easy, quick, hassle-free application and documentation process of the company. This will also help your loan get approved quickly and the amount will be disbursed to your account at the earliest.
    • Loans available at great interest rates - The rates of interest offered on Reliance Money Personal Loans are competitive in nature, and are available at a monthly reducing balance basis. The interest rate that is applicable to a borrower is determined based on several factors such as income, age, employer, work experience, credit score, etc.
    • Loan approved and disbursed without any hassles - Once the documentation process is completed, the loan will be approved in 3 days. After approval, the loan amount will be credited to the bank account of the applicant as early as possible.
    • 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. This means that in case you default during your loan repayment, you will not lose any of your asset to the lender.
    • 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 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.
    • Financing for any type of credit need - By applying for a personal loan from this company, a customer can receive the funds he or she requires to meet his/her urgent financial crisis. Since the borrower does not have to provide any details regarding the purpose of the loan, the credit availed under this scheme can be used for any purposes such as utility bill payments, medical bills, wedding expenditure of a family member or self, vacation costs, higher education fees, business expansion costs, etc.
    • 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.

    You can take a personal loan from Reliance Money to:

    • Travel
    • Pay for your wedding expenses
    • Pay for any renovation expenses
    • Make any work expansions
    • Any other personal use

    One of the most prominent features of this loan is that it does not require any income proof. Other features include competitive rates, flexible tenures, minimal documentation, and quick loan disbursal. Both salaried and self-employed individuals can apply for this personal loan scheme.

    How it works 

    You can walk in to any of Reliance Capital branches along with the required documents to apply. Talk to the supervisor and submit your documents after filling up the application form. Upon verification, the amount will be disbursed within 3 working days. 

    How to apply 

    You can apply through any of Reliance Capital branches by submitting all the required documents. For further queries, you can dial the customer care number 02239484900/4430787400 between 9:30 a.m. and 5:30 p.m. except Sundays and public holidays. Alternatively, you can also send an email to 

    Documents Required to Apply for Reliance Money Personal Loans

    • Passport-size photographs
    • PAN card
    • Aadhaar card
    • Proof of identity such as Driving Licence, Voter ID, Passport, or any other valid photo ID card issued by the state or central government
    • Proof of address such as Passport, Voter ID, Telephone or Electricity bill, Driving License, Bank Statement, Registered Lease Deed or Sale Agreement, etc.
    • Bank statements for the past 6 months from the date of application showing the salary credit details of the borrower

    Reliance Money Personal Loan Rates and Charges

    Learn about the rates and charges applicable to the Reliance Money Personal Loan by checking out the table mentioned below:

    Particulars Applicable Charges
    Cheque Bounce Fee Rs.600
    Cheque Swapping Fee Rs.500
    Change of EMI Cycle Date Fee N/A
    Reschedulement Charges N/A
    Overdue Interest 26% p.a.
    Duplicate NOC Fee Rs.500
    Outstation Cheque Charges Rs.45 each cheque
    Loan Statement Charges (per statement) Nil
    Cheque Revalidation Fee Rs.300
    Loan Cancellation Charges Rs.2,000
    Prepayment Charges
    • Before 6 months starting from the date of disbursement - N/A
    • After 6 months starting from the date of disbursement - 2% of the outstanding principal amount + GST
    Prepayment Statement Fee N/A
    Charges for SPDC Retrieval in Case of Swap, Preclosure, Maturity, or Customer-Induced Cancellation
    • At the time of Preclosure, Maturity, Swap, or Customer-Induced Cancellation - Rs.300
    • Up to 60 days starting from the date of Customer-Induced Cancellation, Preclosure, Maturity, or Swap - Rs.450
    Non Refundable Fee N/A
    Conversion Charges N/A
    Charges for Transferring from Fixed Rate to Floating Rate or Vice Versa N/A
    Part Disbursement Fee N/A
    Copies of Agreement, Loan Documents, or Retrieval of Share Certificate N/A

    Please note that the fees and charges mentioned in the table above are as on 11 September 2018. These are subject to change at any point of time according to the sole discretion of Reliance Money without any prior indication. Therefore, it is advisable for the customers to get in touch with the team at the company to learn about the ongoing prices.

    How to Calculate Your Reliance Money Personal Loan EMI

    Calculating the payable equated monthly installment (EMI) before applying for a loan is crucial as it helps you manage your finances better and prevents you from defaulting. Learn how you can calculate the amount you will have to pay every month if you borrow a certain amount for a specified period of time.

    • Go to the official website of Reliance Money at
    • Click on ‘Personal loans’ under the ‘Products’ tab available in the navigation tab.
    • You will be directed to the page containing the details about the personal loans offered by the company.
    • Find the ‘Calculate EMI’ tab available on the menu available on the left side of the page and click on it.
    • You will be redirected to the section containing the EMI calculator.
    • Now, enter the details such as loan amount, rate of interest in percentage, and repayment tenure in months.
    • Click on ‘Calculate’ below the calculator and your applicable monthly installment amount will be displayed in the ‘EMI’ section.

    How to Apply for a Personal Loan From Reliance Money

    See the list mentioned below to learn about the steps that you will have to follow once you decide to opt for a Reliance Money Personal Loan:

    Step 1: You will have to apply for the scheme by filling out the application form with the required details. Step 2: Next, you will be required to submit the necessary documents for verification. Step 3: After the verification process is completed, you will receive a personalized quote based on your age, income, existing EMIs, employer, credit score, work experience, etc. Step 4: Then, you will have to select the right plan based on your specific financial requirement, repayment capacity, and circumstances. Step 5: The loan application will then be processed for approval. Step 6: Once the loan is approved, the loan amount will be disbursed to the active bank account of the borrower.

    Reliance Money Personal Loan Customer Care

    If you have any question, concern, feedback, or suggestion, you can get in touch with the knowledgeable, compassionate, and courteous representatives of the customer service team at Reliance Money. You will be sure to receive the best possible solution for your concern in a timely manner. You can call the customer care team at 022-39484900 or 044-30787400. You can also email at


    1. 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.

    2. 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.

    3. 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.

    4. Can I use this loan for commercial purposes?

    Yes. You can use a Reliance Money personal loan for commercial reasons.

    5. 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- 02239484900/4430787400 from 9:30 a.m. to 5:30 p.m. except Sundays and public holidays. Alternatively, you can also send an email to asking for a pre-closure statement.

    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.


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    Reliance personal loan Reviews

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