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.
|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|
You can take a personal loan from Reliance Money to:
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.
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.
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 firstname.lastname@example.org.
Learn about the rates and charges applicable to the Reliance Money Personal Loan by checking out the table mentioned below:
|Cheque Bounce Fee||Rs.600|
|Cheque Swapping Fee||Rs.500|
|Change of EMI Cycle Date Fee||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 Statement Fee||N/A|
|Charges for SPDC Retrieval in Case of Swap, Preclosure, Maturity, or Customer-Induced Cancellation||
|Non Refundable Fee||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.
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.
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.
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 email@example.com.
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 firstname.lastname@example.org 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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