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Reliance Home Loan

Reliance Housing Loan 2021

Last Updated 06th Jul 2021

Reliance Capital is a large HFC with the lowest home loan percent rate in India. Currently, the bank offers home loans beginning from 9.75% with quick approval and online process. Home Loan in Reliance Capital is quite popular with its special features and attractive rates under various Reliance Capital home loan schemes for different income and occupation groups. Some of the key features of Reliance Capital housing loan are:

  • Reliance Capital also offers pre-approved housing loans at low rates for existing bank customers with strong credit history.
  • Reliance Capital has an online application process where the KYC, income and property documents submission can be done digitally.
  • You can easily check the status of your Reliance Capital home loan application status on a real time basis on the bank’s website or by visiting their customer care centre.
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Reliance Capital Home Loan Details

Reliance offers multiple home loan products to its customers at low rates. Below-mentioned are the details of home loan Reliance

Age Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed
Repayment Tenure 20 years
Interest Rate 9.75%
Interest Rate Linked To PLR
Processing Fee Upto 0.50%
Lowest EMI Per Lakh ₹ 949
  • Purpose of Loan: Reliance house loan is taken to purchase, construct a home, renovate your existing home.
  • Key Features of Reliance Home Loans
    • Loan available for both salaried and self employed. Special rates for women borrowers.
    • Borrowers within the age group of 21 and 60 years.
    • Security: Mortgage of property you are planning to purchase, renovate or construct.
    • Loan to Value Ratio of 80%.
    • Loan Tenure can range from 5 to 20 years.
    • Interest rates in the range of 9.75% to 11.00%.
    • Reliance home loan EMI per lakh starts from ₹ 949. However, you can calculate your home loan EMI using Reliance home loan calculator 2021.
  • Special schemes: Reliance offers customised home loan interest rates and schemes for special category of borrowers including women borrowers, senior citizens, NRIs etc.

Features & Benefits of Reliance Capital Home Loans

Some of the features and benefits of Reliance Capital Home Loans are listed as follows:-

  • Reliance Capital Home Loan Interest Rate starts from 6.70%.
  • Reliance Capital charges a processing fees of Upto 0.50%.
  • Loan Tenure of Home Loan ranges from 5 years to 30 years.
  • Lowest EMI per lakh on home Loan from Reliance Capital is per lakh offered at the lowest interest rate of 6.70% at the longest loan tenure of 30 years.
  • Reliance Capital allows prepayment of home loans with Nil charges on floating rate loans.
  • Reliance Capital has an average customer rating of 4/5.0 from customers who have taken a home loan from the bank.

How to Get Easy Home Loan from Reliance Capital?

Getting a home loan from Reliance is fairly easy with an online application process. 5 Steps for Reliance Home Loan Apply

  • Step 1: Visit the website, branch, or website of authorised online channel partner of Reliance and fill in the application form with loan amount required, property details, your personal details, occupation information and your contact number.
  • Step 2: An official of Reliance or online partner will call you to discuss your eligibility of the loan as well as explain the loan rates, terms as well as processing fees and other charges.
  • Step 3: Once you agree to proceed with the loan application, you will need to submit your income and property documents online or a Reliance’s representative will visit your home or office to collect your documents.
  • Step 4: Reliance will ask you to submit the processing fees and take a few days to conduct a credit appraisal and do technical evaluation of your property.
  • Step 5: If you are eligible and your property qualifies for a loan, you will be issued a sanction letter from Reliance and will need to sign a loan agreement with the bank. Post this, the loan will get disbursed to your account.

Reliance Capital Home Loan Documents Required

To apply for a home loan in Reliance, the bank asks you to submit the following Reliance Home Loan Documents .

  • Home loan application form with three attested photographs.
  • Identity proofs: PAN, passport, Voter ID card or driving license.
  • Address or residence proofs: Recent copy of utility bills such as telephone, electricity bill, water bill, gas bill, or a copy of aadhar card, passport, driving license.
  • Property papers: Permission for the construction of a property; allotment letter; stamped agreement for sale; registered agreement for sale (only for Maharashtra); share certificate (only for Maharashtra); maintenance and electricity bill of the property; property tax receipt; conveyance deed in case of new property; payment receipts or Reliance account statements of the payments made to the builder or the seller; Xerox copy of the approved plan copy and registered development agreement of the builder.
  • Bank account statements for the last six months of all bank accounts held by the applicant.
  • Loan A/C statement of last one year if any loan is availed previously from any other bank or another lender.
  • Income proof for salaried: Salary certificate or salary slip for the last three months; copies of form 16 of last two years; a copy of IT returns for the last two financial years that is acknowledged by the Income Tax department.
  • Income proof for self-employed: Address proof of business; Income tax returns of last three years; balance sheet and Profit & Loss A/c for last three years; business license details; TDS certificate or Form 16 A.
  • Self-employed professionals like CA or doctors, amongst others, are also required to submit the certificate of qualification.

Reliance Capital Home Loan EMI Calculator

Reliance home loan EMI calculator helps the home loan borrowers plan their home loan EMIs, that is composed of the monthly interest rate, and monthly reducing balance. The calculator functions on the basic components of the principal amount, loan tenure and interest rate. Reliance Capital Home loan calculator helps the loan borrower pre-plan their home loan in advance.

Reliance Capital Home Loan Eligibility Calculator

Reliance Capital Home loan eligibility calculator is an online tool that helps the Reliance home loan borrowers estimate their home loan eligibility. The eligibility calculator considers various factors such as the income of the applicant, age, work experience, employment and credit score. Therefore, the eligibility helps one analyse their ability and affordability of a home loan. You can also add a co-applicant in case your loan eligibility is lower than the amount.

Compare Reliance Capital Home Loan with Other Banks

FAQs

What are the documents required for home loan Reliance?

To apply for Reliance Capital Home Loan, you will be required to submit Reliance home loan documents such as home application form with attested photographs along with various other documents such as identity proof, bank statements, residence proof, property papers and loan account statements if any.

Why should I take a home loan from Reliance Capital ?

Below-mentioned is the reason why you must avail a home loan from Reliance

Can I apply for an Reliance home loan online?

Yes, you can apply for a Reliance home loan online by visiting the bank’s official online portal for home loans or at an online marketplace like MyLoanCare.

Which is the best Reliance home loan scheme?

Choosing the best Reliance home loan scheme is subjective to the requirement of the home loan applicant. For instance, there are different home loan offers for the purchase, construction or renovation of a home. Thereby, choosing the best Reliance home loan scheme is based on one’s needs.

Is Reliance good for a home loan?

Reliance is one of the best home loan lenders in the country. Currently, Reliance home loan interest rate 2021 starts at 6.50%.

How can I check my Reliance home loan status?

One can check their Reliance home loan status on Reliance’s home loan portal under the option. ‘Application tracker’. Apart, home loan status can also be checked on the Reliance mobile app

What is the eligibility for a Home Loan of Reliance Capital?

The eligibility to avail a Home Loan is set across the applicant’s age and income. The age of the applicant should range between 18-70 years. Further the minimum income of the applicant should be ₹ 25,000 along with a good credit score of 650 and above.

What is Reliance Capital Home Loan procedure?

There are two methods to complete the application for Reliance Capital Home Loan Process online:

  • Apply online at Reliance Capital official website or online portal for home loans.
  • Online Marketplace like MyLoanCare

However, Availing a loan through an online marketplace improves your the chances of getting the best loan rates, low processing fees and special offers in the form of cash backs.

What is the maximum loan tenure I can opt under Reliance Capital house loan?

Reliance Capital offers you a longer tenure of 20 years to repay your loan with the benefit of paying less EMI per month.

Does Reliance Capital check CIBIL for home loan?

Yes, to avail home loan from Reliance Capital, you must fulfill Reliance Capital Home Loan CIBIL requirement of a min CIBIL Score of 650 or above.

Can I transfer my house loan from another bank to Reliance Capital?

Yes, Bank gives you the facility to transfer your existing loan with a hassle-free process. Availing loan transfer to Reliance Capital can allow you to save interest, pay lower EMIs, and save money.

Can I club the income of my spouse with mine and apply for joint Home Loan?

You can club the income of your spouse to increase your Home Loan eligibility if the spouse is co-owner of the property or guarantor of the loan.

What is the benchmark applicable for a housing loan?

The benchmark applicable for Home Loan in Reliance Capital is PLR . PLR is an external benchmark wherein commercial banks use the RBI’s repo rate to calculate the retail loan interest rate. In PLR, the reset period is 3 months which implies that banks would revise your interest rate of RLLR-linked loans every 3 months.


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Reliance Home Loan News - Dec 2021
  • 2017-05-06 : Reliance Capital receives no objection from the BSE and NSE for demerger
    Reliance Capital Limited has received ‘no-objection’ from both the BSE and NSE for demerger of Reliance Home Finance. The company has further reported that it has filed the scheme of demerger with the National Company Law Tribunal (NCLT) for facilitating the independent listing of the home finance unit on stock exchanges.
  • 2015-12-17 : Reliance Housing Finance targets Rs 50,000 crore AUM by 2020
    Reliance is targeting AUM of Rs 50,000 crore by 2020 as it aims to join top-five league in the home loan market in 3 years
  • 2015-12-14 : Reliance Housing Finance eyes slot in top 5
    Reliance Housing plans to be amongst the top five HFCs in the next 3 years with a target AUM of Rs 50,000 crore by 2020
  • 2015-11-04 : Reliance Housing Finance lowers home loan rates to 9.55%
    Reliance Housing Finance has announced a 25 basis point reduction in its lending rates to 9.55% matching with the rates offered by Indiabulls and DHFL
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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