Apply Reliance Housing/Home Loan Online
Explore 2017 Interest rates available for Reliance Home Loan. Check eligibility criteria, EMI calculator, documents required and get instant approval.
Reliance Home Loan
Reliance Home Loan is best suited to meet the needs of all types of home loans in India.
Reliance Home Loan Products
Reliance provides the following types of home loans:
- Loan for Purchase of Property from Builder
- Loan for Purchase of Resale property
- Loan for Residential plot purchase and self construction thereon
- Loan for Self Construction
- Balance Transfer from other banks
Reliance Home Loan Interest Rates & Charges
The Reliance Home Loan interest rates as applicable are shared below:
| Cheque bounce charges | Rs.450 |
| Overdue Interest | 3% pm on unpaid amount |
| Loan reschedulement charges:a) EMI Cycle Date Change b) Tenure/EMI Reschedulement | Rs.500 + Interest2% of POS NOC |
| Issuance charges | First "Nil", Duplicate Rs.500 |
| Legal / Collection/ Repossession & Incidental charges | As per Actuals |
| Cash Handling Charges | 1% + applicable S.T for cash receipts for Rs.3 lacs and above. |
| Cash Handling Charges | 1% + applicable S.T for cash receipts for Rs.3 lacs and above. |
| 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. |
| Conversion Charges | 0.5% of Outstanding Principal |
| Non Refundable Fee | Loan up to Rs 28 lacs - Rs. 3,000/- + S.T Loan >Rs 28 lacs - Rs. 6500/- + S.T |
| Copies of Loan Documents/ Agreement/Retrieval of Share Certificate | Rs.500/- per LAN |
| Charges on Part Disbursement | Rs.750/- |
| Prepayment Statement Charges | Rs.200/- |
| Statement of Account / Amortization Schedule | Nil Charges |
| 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 |
| 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.) |
| Fixed | Prepayment Charges are applicable if Housing Loan is not pre closed by "Own Source" * of funds |
| 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. |
Reliance Home Loan Eligibility
Reliance Home Loan does not extend beyond 65 years of age (for Self Employed) or the retirement age (for Salaried) as applicable.
Reliance Home Loan Documents
There are different documentation requirement for Reliance home loan documents. Some are required for loan categories and some are specific.
KYC Docs
- Identity Proof - Passport / PAN card / Voterâs Identity Card / Driving License / Identity card with applicant's Photograph issued by Government, Aadhaar Card.
- Address Proof - Passport / PAN card / Voterâs Card / Driving License / Latest Utility bill (electricity, telephone, postpaid mobile phone, piped gas, water bill) / Property Tax receipt / Bank or Post Office savings bank account statement / Letter of allotment of accommodation issued OR Leave and license agreements issued by Government to the employee.
- Signature Proof - Driving licence / Passport / PAN Card / Bankers Verification / Registered Sale deed / Government Employee ID card
Documents required for Salaried Professional
- 3 Months Salary Slip for Salaried or Salary Certificate
- Copy of last 2 years Form 16 or IT Return.
- Bank Statement for the last 6 months of the salary account.
- Appointment /Confirmation letter if current job tenure is less than 1 yr.
Documents required for Self Employed
- Partnership Deed in Case of Partnership Firm; MOA/AOA in case of Company.
- Copy of IT Return, Computation of Income, CA certified Balance Sheet and Profit & Loss Account, all for the last 2 years.
- Bank Statement for the last 6 months of the Business accounts
- Office Address proof.
- Tax audit report of individual partnership & company
- Latest Share Holding Pattern Attested by CA/CS in Case of Company.
- VAT/ Sales Tax Returns
- List of directors attested by CA/CS in case of Company.
- Sanction letter for working capital Limits & term loans with SOA.
- Copy of Degree Certificate in case of Professional.
- Other General Documents for Salaried and Self Employed
- Repayment Track Record for 1 year for existing loan.
- NOC of loan closed within 1 year.
- Bank debits for all current loans appearing in CIBIL report but not appearing in Bank statements submitted.
- Duly filled up and signed Application Form and MID.
- Processing Fee cheque.
Reliance Home Loan Calculator
Use the Reliance Home Loan EMI Calculator to calculate and repay EMIs.
P*r* (1+r)^n/([(1+r)^n]-1)
In the above formula,
- P = Loan amount. This can range from Rs. 1,500,000 to Rs. 50,000,000
- r = Rate of interest per month. Current rate is 10.00%, which is linked to Reliance PLR
- n = tenure in month. For Reliance Capital, this can be 360 months
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