Reliance Consumer Finance Home Loan Key Features
| Feature | Value |
| Interest Rate | 6.90% onwards |
| EMI / Lakh | Rs. 662 |
| Loan Tenure | Up to 30 years |
| Loan Amount | Percentage based on property value |
| Loan to Value Ratio | Up to 90% of property value |
| Loan Available on the Following Types of Property |
|
| Special Offer for Women | Interest rate concession of 0.05% |
| Processing Fee | Up to 0.5% of loan amount excluding GST |
| Prepayment Charges | No prepayment charges for floating rates |
| Part Payment Charges | Nil |
| Guarantor Required | Nil |
Please Note: The above figures are only indicative and are subject to change without any prior notice.
Reliance Consumer Finance Home Loan Interest Rate
| Reliance Consumer Finance Home Loan Schemes | Interest Rate For Women | Interest Rate for Others |
| Reliance Consumer Finance Home Loan | 6.90% – 7.95% | 7.00% – 8.00% |
| Reliance Consumer Finance Reach Loan | 8.75% – 14.00% | 8.75% – 14.00% |
| Plot Loan | 7.05% – 8.05% | 7.10% – 8.10% |
| Rural Housing Loan | 6.90% – 8.70% | 7.00% – 8.70% |
| Home Improvement Loan | 6.90% – 7.95% | 7.00% – 8.00% |
| Home Extension Loan | 6.90% – 7.95% | 7.00% – 8.00% |
| Home Loan Top Up | As per home loan slabs | As per home loan slabs |
| Home Loan Balance Transfer | 6.90% onwards | 6.90% onwards |
Please Note: The above rates and values are floating in nature and are based on adjustable rates. These are subject to change at the time of loan disbursement.
Know more about Home Loan Interest Rates.
Reliance Consumer Finance Home Loan Eligibility Criteria
Salaried Individual:
- the applicants need to be Indian citizens.
- the applicant must be in the age range of 18 years to 65 years
- Must have working experience and a legitimate source of salary i.e working under the same employer for the last one year.
Self Employed Individual:
Applicants who are not professionally engaged in the working sector but have their own source of steady income are also eligible for the Reliance Consumer Finance Home Loan. This includes everybody such as :
- Traders
- Contractors
- Commission agent
The following criteria must be met to apply for a home loan:
- the applicants need to be Indian citizens.
- the applicant must be in the age range of 18 years to 65 years
Self Employed Professionals:
Applicants who are professionally engaged in the working sector are also eligible for the Reliance consumer finance Home Loan. This includes everybody who is a:
- Doctors
- Architect
- Engineer
- Lawyers
- Charted Accountant
- Consultant
- Company Secretary
The following criteria must be met to apply for a home loan:
- the applicants need to be Indian citizens.
- the applicant must be in the age range of 18 years to 65 years
Additional Criteria for Co-applicants:
- Co-applicant must be a family member of the primary applicant.
- All co-applicants are not required to be the co-owners of the property.
Know more about Home Loan eligibility criteria.
Reliance Consumer Finance Home Loan Documents Required
Salaried Individual:
Valid ID and Residence Proof: A copy of Proof of Identity and Residence such as Aadhaar, Driving License, Passport, Voter ID, PAN, etc.
Income Proof:
- Latest Salary Slips from the last 3 months.
- Employment Contract/Appointment Letter if the current employment is less than a year old.
- Bank Statements showing salary credits from the last 6 months.
- Latest Form-16 and IT returns
Property Related Documents:
- A cheque for the purpose of processing fee favouring ‘Reliance consumer finance.’
- Receipt/(s) of payment/(s) made to the developer
- Copy of the Buyer Agreement/Allotment Letter
Self Employed Individual:
Valid ID and Residence Proof: A copy of Proof of Identity and Residence such as Aadhaar, Driving License, Passport, Voter ID, PAN, etc.
Income Proof:
- Previous 3 years Profit/Loss Account and Balance Sheet.
- Bank Statements showing salary credits from the last 6 months.
- Business Profile and Previous 3 years Income Tax returns (Both self and business)
Proof Of Business:
- Educational Qualifications Certificates of the applicant
- Business achievements (Certificate or awards if any)
Property Related Documents:
- A cheque for processing fee favouring ‘Reliance consumer finance.’
- Receipt/(s) of payment/(s) made to the developer
- Copy of the Buyer Agreement or Allotment Letter
Agriculturists:
KYC Proof – PAN Card (Mandatory) and any Driving License/Voter ID/Passport
Income Proof:
- Bank Statements showing salary credits from the last six months.
- Copies of title documents of agricultural Land showing crops being cultivated
Property Related Documents:
- A cheque for processing fee favouring ‘Reliance consumer finance.’
- Receipt/(s) of payment/(s) made to the developer
- Copy of the Allotment Letter / Buyer Agreement
Additional requirements for Co-applicants:
Passport size photograph of all co-applicants to be affixed on the Application Form and signed across
Know more about the Home Loan documents required.
Different Home Loan Schemes By Reliance Consumer Finance Bank
Reliance Consumer Finance Home Loan – For Resident Indians
Reliance consumer finance loan is specifically for those individuals who are salaried or having their own business, these customers can get the loan at the least rate through this loan.
| Specific Information for Home Loan Scheme | |
| Eligible Profiles | Available to Salaried and Sef-employed Individuals |
| Loan Amount | Up to 90% of the value of Property |
| Interest Rate | 6.90% onwards |
| Processing Fee | Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST |
| Loan Tenure | 30 years |
Reliance Consumer Finance Reach Loans – For Indians With Income Of At least Rs. 10,000 Per Month
Reliance consumer finance loan is specifically for those individuals who are citizens of India whose income is up to Rs. 2 Lakhs per annum. This loan can cover the costs of purchasing a new or already built house, renovations a new plot for further construction.
| Specific Information for Reach Loan Scheme | |
| Eligible Profiles | Available to Salaried and Sef-employed Individuals |
| Loan Amount | Up to 80% of the value of Property |
| Interest Rate | 8.75% onwards |
| Processing Fee | Up to 2% of the loan amount + GST |
| Loan Tenure | 30 years |
Reliance Consumer Finance Plot Loans – For Buying a New Plot
Reliance consumer finance plot loan is specifically established for those individuals who are looking to purchase a new plot. This loan supports buying a new direct allotment plot or the plot from the resale.
| Specific Information for Plot Loan Scheme | |
| Eligible Profiles | Available to Salaried and Sef-employed Individuals |
| Loan Amount | Up to 80% of the value of Property |
| Interest Rate | 7.10% onwards (0.05% concession to women) |
| Processing Fee | Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST |
| Loan Tenure | 15 years |
Reliance Consumer Finance Rural Housing Loans – For Indians Living in Rural Areas
Reliance consumer finance loan is specifically for those individuals who are agriculturists, planters, horticulturists, dairy farmers, and others who are living in remote areas and are willing to buy an under-construction property or an existing residential property or a new residential property in rural and urban areas.
| Specific Information for Rural Housing Loan Scheme | |
| Eligible Profiles | Available to Salaried, Sef-employed Individuals and Agriculturists |
| Loan Amount | Up to 90% of the value of Property |
| Interest Rate | 7.00% onwards (0.05% concession to women) |
| Processing Fee | Salaried/Self-employed – Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Agriculturists/ Self-Employed Non-Professionals – Up to 1.50% of the loan amount or Rs. 4,500 (whichever is higher) + GST |
| Loan Tenure | 30 years |
Reliance Consumer Finance Home Improvement Loans – For Covering Home Renovation Costs
This type of loan is specifically for those customers who want to renovate their houses but are not able to do so due to economic hurdles.
| Specific Information for Home Improvement Loan Scheme | |
| Eligible Profiles | Available to Salaried and Sef-employed Individuals |
| Loan Amount | New Customer – Up to 90% of the estimates from improvements.
Existing Customer – Up to 100% of the estimates from improvements. |
| Interest Rate | 6.90% onwards |
| Processing Fee | Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST |
| Loan Tenure | 15 years |
Reliance Consumer Finance Home Extension Loans – For Adding Space in Your Home
Reliance consumer finance home extension loan is specifically for those individuals who want to extend or wants to add space to their home property.
| Specific Information for Home Extension Loan Scheme | |
| Eligible Profiles | Available to Salaried and Sef-employed Individuals |
| Loan Amount | Up to 90% of the value of Property |
| Interest Rate | 6.90% onwards |
| Processing Fee | Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST |
| Loan Tenure | 20 years |
Reliance Consumer Finance Top Up Loans – For Dena Bank Home Loan Borrowers
Reliance Consumer Finance top-up plans help the borrowers to get additional funding over their already opted home loan. The funds from this scheme can be used for various personal and business purposes by the customers.
| Specific Information for Top-Up Loan Scheme | |
| Eligible Profiles | Available to Salaried and Sef-employed Individuals |
| Loan Amount | Up to 90% of the value of Property |
| Interest Rate | New Customer – 8.30% onwards
Existing Customer – As per Home Loan Slabs |
| Processing Fee | Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST |
| Loan Tenure | 15 years |
Reliance Consumer Finance Home Loan Balance Transfer – For All Home Loan Borrowers
Reliance consumer finance Home Loan Balance Transfer is available to those customers who are willing to lower their repayments.
| Specific Information for Home Loan Balance Transfer Scheme | |
| Eligible Profiles | Available to Salaried and Sef-employed Individuals |
| Loan Amount | Up to Rs. 50 Lakhs |
| Interest Rate | 6.90% onwards |
| Processing Fee | Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST |
| Loan Tenure | 30 years |
Reliance Consumer Finance Home Loan for NRI/PIO – For NRIs and PIOs
Reliance consumer finance is the loans that are available to those who are NRIs, PIO, and OCI. The loan helps the individual who is willing to:
- Construct on a plot allotted by a Development Authority in India or a freehold/leasehold plot.
- Properties can be purchased from Development Authorities such as DDA, MHADA, etc.
- Purchase a flat, row house, bungalow in India from private developers in approved projects.
Reliance Consumer Finance Home Loans under Pradhan Mantri Awas Yojana
This type of loan is specially established for EWS/LIG, families under MIG-I, and MIG -II categories. The validity of this scheme is up to 31 march 2022 (EWS/LIG), 31 march 2021 (Families under MIG-I and MIG -II categories).
| Specific Information for Home Loan Pradhan Mantri Awas Yojana Scheme | |
| Eligible Profiles | Available to EWS/LIG, MIG-I, and MIG -II |
| Loan Amount | No Cap |
| Interest Subsidy | 3.00% onwards |
| Maximum Subsidy | Up to Rs. 2.67 Lakhs |
| Loan Tenure | 20 years |
Advantages of Reliance Consumer Finance Home Loan
Reliance consumer finance Home Loan is a saviour to those who are in need of financial support relating to homes and plots. It offers the following:
- Provide a 0.05% concession to women to encourage them for their own homeownership.
- Provide several repayment methods to choose from and opt for the one best suited to you.
- Full transparency as Reliance consumer finance promises no hidden costs and fees.
- Easy application with minimum documentation and paperwork.
- Provides loan approval prior to the selection of the property.
- It is a part of the Pradhan Mantri Awas Yojana.
- A huge variety of home loan schemes.
Reliance Consumer Finance Bank Home Loan Charges and Fees
| Particulars | Charges |
| Processing Fees | Salaried Individuals: 0.50% of the loan amount or Rs. 3,000, whichever is higher Self Employed Professionals: 0.50% of the loan amount or Rs. 3,000, whichever is higher Self Employed Non-Professionals: Up to 1.50% of the loan amount or Rs. 4,500, whichever is higher |
| Prepayment charges | No prepayment charges for floating rates |
| Check dishonour charges | Up to Rs. 200 |
| List of documents | Up to Rs. 500 |
| Photocopy Of documents | Up to Rs. 500 |
| PDC Swap | Up to Rs. 200 |
| Disbursement cheque cancellation charges post disbursement | Up to Rs. 200 |
| Increase/Decrease in the loan term | Up to Rs. 500 |
| Re-appraisal of loan post 6 months from sanction | Up to Rs. 2,000 |
How to apply for Reliance Consumer Finance Bank Home Loan
- Visit Dialabank for a Home Loan.
- Go to the Reliance consumer finance Home Loan page.
- Check out all the eligibility and documents criteria for a Home Loan.
- Fill out all the details required in the Home Loan application form.
- Once done, our representative will soon contact you for a further stress-free process.
Reliance Consumer Finance Bank Home Loan EMI Calculator
Know more about Home Loan EMI Calculator.
Other Loan Products from Reliance Consumer Finance
| Reliance consumer finance loan against property | Reliance consumer finance car loan |
Reliance SME loan |
Reliance consumer finance gold loan |
Reliance Consumer Finance Home Loan FAQ
✅ How to repay my Reliance Consumer Finance home loan?
There are different payment methods through which you can repay your Dena Bank home loan, this can be done:
- By opting for direct deduction of monthly instalments by your employer.
- By issuing Standing Instructions to pay the loan instalments through Electronic Clearing System.
- By issuing post-dated cheques from your salary account.
✅ When can you apply for Reliance Consumer Finance’s top-up loan?
The customers can get Reliance consumer finance top-up loans A year after the disbursement of the existing loan amount and the possession or completion of the financed property.
✅ What is the maximum loan amount from the home loan can I get on my salary?
A customer can get a Reliance consumer finance loan amount on his/her salary, depends on their repayment capacity. The following variables are considered to determine the repayment capacity: age, credit history, the number of dependents, education qualification, current liabilities, etc.
✅ What is a Floating Interest Rate?
As per the bank guidelines Floating interest rates are different from the fixed rates, the rates are not the same throughout the loan tenure for the customer. It may vary with the change in the lender’s benchmark rate.
✅ How Dialabank can help you get a Home Loan?
Dialabank works as a bridge to find the best option between several Banks and NBFCs like Reliance Consumer Finance by providing you with a detailed and structured market comparison of different banks. This eliminates the unnecessary worries about the complex information and process you have to go through.
If you want to apply for Reliance Consumer Finance Home Loan get in touch with Dialabank by phone by dialling 9878981166 or by visiting Dialabank.
