Reliance Capital

Reliance Capital

Bank Name
Interest Rate Range
Processing Fee Range
Loan Amount
Tenure Range
Action

Rate of Interest

  • Floating rate of Interest : 8.65% p.a. to 11% p.a.

Eligibility Criteria

  • Minimum 21 years of age and maximum 65 years
  • Loan period from 3 years to 20 years
  • Should be either salaried or self-employed and have regular source of income
  • Should have sufficient income to pay EMI on required loan
  • Applicant must be Indian Citizen, in case of NRI or person of Indian origin it should be properly documented

Fees and Charges

  • Processing Fees 0.00% to 1.00% depends on type and category of borrower
  • Preclosure Charges – Rs 0
  • Part Payment charges- Rs 0
  •  No any other hidden charges

Documents Required

  • KYC- Pan Card, Adhar Card, ID Proof and Address proof
  • ITR with computation for 3 years with Income proof
  • Bank Statement
  • Photograph
  • 2 references

Value Additions

  • Doorstep services
  • E- approvals
  • Part payment allowed

Special Feature

  • No guarantor required
  • No pre-closure or part payment fees
  • Balance Transfer Allowed
  • Top up available

Overview about Reliance Capital

Reliance Capital Limited is an Indian diversified financial services holding company. It is promoted by Reliance Group. It is one of the good Financial Services Companies in India. It is also a good rank among the top private sector financial services and banking groups.

Your Eligibility depends on following


You should be minimum 21 years old

You should be maximum 60 (for salaried) 65 years(Self employed)

You should be salaried or self employed

You should have sufficient income to pay EMI on required loan

You can increase your eligibility by doing following

Make your spouse as co applicant , her/his income will also be added in eligibility
Choose longer tenure of loan period maximum up to 20 years
Add more than one co applicant if required to enhance your eligibility
Close short term loans, this will also increase your eligibility

Rate of Interest and Other Charges for Home Loan are following

Other Charges

Sno

Description

Individual Housing Loans

1

Cheque bounce charges

Rs.450

2

Overdue Interest

3% pm on unpaid amount

3

Loan reschedulement charges :
a) EMI Cycle Date Change
b) Tenure/EMI Reschedulement


Rs.500 + Interest
2% of POS

4

NOC Issuance charges

First "Nil", Duplicate Rs.500

5

Legal / Collection/ Repossession & Incidental charges

As per Actuals

6

Cash Handling Charges

1% + applicable S.T for cash receipts for Rs.3 lacs and above.

7

SPDC retrieval Charges

Rs.300/- at the time of Pre-closure/Swap/Matured/Customer Induced cancellations.
Rs.450/- up to sixty days from the day of Pre-closure/Swap/Matured/Customer Induced cancellations.

8

Conversion Charges

0.5% of Outstanding Principal

9

Non Refundable Fee

Loan up to Rs 28 lacs - Rs. 3,000/- + S.T
Loan >Rs 28 lacs - Rs. 6500/- + S.T

10

Copies of Loan Documents/ Agreement/Retrieval of Share Certificate

Rs.500/- per LAN

11

Charges on Part Disbursement

Rs.750/-

12

Prepayment Statement Charges

Rs.200/-

13

Statement of Account / Amortization Schedule

Nil Charges

14

Prepayment Charges in case of Floating Rate

1) "Nil" for all floating rate term loans sanctioned to "individual borrowers"
2) Prepayment charges will be applicable for Loan in which company, firm, etc. is a borrower or co-borrower

15

Semi Fixed rate of Interest

1) "Nil" prepayment charges, if the loan has been converted in floating rate of interest at the time of pre payment / pre closure.
2) In case loan is on Fixed Rate at the time of closure, Prepayment Charges are "Nil" if Loan is pre closed through "Own Source"* of funds (It would be chargeable if closed through other than own source.)

16

Fixed

Prepayment Charges are applicable if Housing Loan is not pre closed by "Own Source" * of funds

17

Loan cancellation Charges

Cancellation charges of Rs 3000/- along with applicable interest amount from the date of disbursement till the date of cancellation will be charged.

# For Partly Disbursed cases, charges would be calculated on total outstanding principal + undisbursed portion of sanctioned amount.

** Service Tax as applicable will be levied

Existing Loan take over or New Loan

Reliance Capital offers customers  both type of loans i.e. for buying new property and also to transfer their  outstanding home loan balance with other banks over to Axis Bank at low interest rate. The main features of this transfer scheme are:

  • Online management of Loan account
  • Quick processing
  • Approval of loan even if property is yet to be selected
  • Facility for funding for builder’s under construction and ready properties
  • Experienced staff to provide doorstep services

Features of Loan

Reliance Capital Home Loan comes with a number of attractive features and benefits such as:

  • Affordable rates of interest- Reliance Capital offers customers attractive and affordable rates of interest, which make it convenient for the customer to make instalment payments towards their home loans.
  • Interest Rate Flexibility- Customers have the option to choose from either fixed rate of interest or floating rate of interest as per their convenience. Customers can make an informed decision based on interest rate trends and choose accordingly.
  • Balance Transfer- Customers also have the opportunity to transfer their home loan balances from other banks to Reliance Capital in a hassle free manner.
  • Personalised Service- Reliance Capital makes it easier for customers to apply for home loans by providing assistance right at the customer’s doorstep. This significantly reduces the time and effort that a customer will invest in by applying for a home loan at one of the bank’s branches.
  • No Prepayment Fees- Customer who wish to pay out their home loans in advance have the option to do so without being charged any prepayment fees.
  • Simple and Easy Processing- Applying for a home loan with Reliance Capital is a quick and simple process, wherein the customer is aware of the status of his or her application at all times. The bank ensures that there is complete transparency during the processing of home loans.
  • Substantial Tenure Periods- Customers can avail of home loans with tenures of up to 20 years, which greatly reduces the amount of EMIs they would have to make every month.