• Reliance Personal Loan

    Reliance money offers personal loans for customers without the need of submission of income proof. The personal loan scheme is offered at attractive interest rates and flexible tenures.

    • Repayment tenure between 12 months and 48 months 
    • No income proof needed to avail the loan
    • Hassle-free loan processing
    • Lending rates are based on the eligibility of the applicant

    Features and Benefits

    • Loan without income proof - Borrowers are not mandated to provide any income proof in order to become eligible to receive the required funds.
    • Prepayment option available - Prepayment can be availed 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).
    • Loan approved and disbursed without any hassles - Once the documentation process is completed, the loan will be approved in 3 days.
    • 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.
    • 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 https://www.selfreliant.in. 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.
    • 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.

    Loan Details

    Interest Rate Best possible rate offered based on eligibility
    Tenure 12 months to 48 months

    Rates and Charges

    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

    Documents Required

    • 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

    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 www.reliancemoney.co.in.
    • 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.


    1. What are the channels through which I can repay the loan?
    2. You can repay the loan through National Automated Clearing House (NACH), Electronic Clearing System (ECS), or demand draft.

    3. How much interest do I have to pay and how is it calculated?
    4. 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.

    5. Is there any insurance facility available with the personal loan?
    6. Yes, the personal loan scheme comes with an insurance facility offered by their group company – Reliance General Insurance Company Limited.

    7. Can I use this loan for commercial purposes?
    8. Yes. You can use a Reliance Money personal loan for commercial reasons.

    9. Can I prepay the loan?
    10. 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 customercare@reliancecommercialfinance.com 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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