Reliance Capital Personal Loan Details

Preliminary Information
Loan Details
Personal Details

Reliance Capital Personal Loan Details

Abhyudaya Bank 3.75 / 5.04 users
Reliance Capital Personal Loan Details Updated on
Loan Amount As per the repayment capacity of the borrower
Interest Rate As per the applicant’s profile
Tenure Up to 48 months

Reliance Capital offers a personal loan through the Reliance Money portal. You can avail of immediate funds for education, travel, medical emergency, business, wedding, home renovation, or any other requirement. The urgent funding helps you to achieve self ‘reliance’, as you take control over your finances. The initiative is to make individuals independent. You do not have to pledge any assets to get the funds. The money is credited to your bank account quickly after approval.

In the below post, we will discuss Reliance Capital Personal Loan features, interest rate, documents required, fees and charges, and frequently asked questions.

Features of Reliance Capital Personal Loan

Here are Reliance Money Personal Loan features:

  • Salaried individuals, self-employed businessmen, and self-employed professionals can apply for this loan.
  • You can avail of the funds for travel, education, renovation of home, marriage, work expansion, big-ticket purchase, and other personal or commercial needs.
  • The repayment tenure is between 12 months and 48 months.
  • Get benefit of simplified and quick documentation, low rate of interest, hassle-free loan sanction and disbursal.
  • There is no requirement for income proof.
  • There is no need for collateral/security to apply for the loan.
  • During the loan sanctioning, you will have to submit post-dated cheques for security.
  • If all the documents and verifications are in place, then the institution takes up to 3 days from the completion date of the documentation.

Reliance Money Personal Loan Interest Rate

The Reliance Capital Personal Loan Interest Rate is as per the individual’s profile and needs. The interest is calculated on a monthly reducing balance basis. If the EMI is based on a monthly reducing balance, then every month the principal amount/component reduces. The interest is then calculated on the remaining principal at the end of every month.

Documents Required for Personal Loan Reliance Capital

Here are the documents for the loan application:

  • Any one of the government-recognized identity proofs such as Passport, Aadhaar Card, Voter ID Card, Driving Licence.
  • Any one of the government-recognized address proofs such as Passport, Driving Licence, Voter ID, utility bills, telephone bills, registered lease deed or sale agreement.
  • Recent passport-sized photographs.
  • Duly filled and signed loan application form.
  • You have to provide one cancelled cheque for RTGS or refund (if any).
  • A bank statement that shows clearance of the last month’s EMI

Reliance Capital Personal Loan Fees and Charges

Here are the fees and charges for Reliance Money personal loan:

Particulars Charges
Loan cancellation Rs. 2,000
Foreclosure
  • If foreclosure is before 6 months from the disbursement date, then the charge is 5% of the outstanding principal + GST
  • If foreclosure is after 6 months from the disbursement date, then the charge is 2% of the outstanding principal + GST
Overdue Interest 26% p.a.
Cheque revalidation Rs. 300
Cheque Swapping Rs. 500
Cheque Bounce Rs. 600
Outstation Cheque Rs. 45 per cheque
Duplicate NOC Rs. 500
SPDC retrieval Charges for swap, matured, preclosure, and cancellations by the borrower
  • At the time of swap/preclosure/matured/cancellation, the fee is Rs. 300
  • Up to 60 days from the day of swap/preclosure/matured/cancellation, the fee is Rs. 450
Loan statement, EMI cycle date change, reschedulement, changing to floating rate from fixed-rate and vice-versa, conversion No charges
Part disbursement, foreclosure statement, copies of loan documents/retrieval of share certificate/agreement No fees

Frequently Asked Questions about Reliance Money Personal Loan

Here are the Reliance Capital Personal Loan FAQs:

You can pay the EMIs in form of Demand Draft, ECS (Electronic Clearing Service), or NACH (National Automated Clearing House) mandate.

Yes, you can prepay the entire loan. But fees and charges may apply. You can prepay through draft or cheque in the favour of ‘Reliance Commercial Finance Limited’.

Visit any branch of Reliance Money for prepayment. If prepayment charges apply, then you need to also pay that amount.

There is no facility for insurance on the personal loan.

After loan closure, you will receive the Indemnity Letter for unused cheques and No Objection Certificate sent to your registered address. The same is expected in 10 to 12 working days.

Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of Reliance Capital.

Reliance Bank Personal Loan Review


Personal Loan
14.0/5
Taking personal loan in Gujrat by Reliance bank through online portal of loanbaba was after all not a bad idea. This way I could communicate with the Reliance without having to come over to their branch. All by documentation was sorted and I got the loan in decent time.
Mumbai
Personal Loan
15.0/5
The Reliance bank has disbursed the loan amount required and I am satisfied with it. The interest rate and the charges are average.
Mumbai

Subscribe to our newsletter