Reliance Home Finance Home Loan Details

Loan amountUp to 80% of loan amount
Rate of interest9.75% to 13% p.a.
Processing Fees0.5% to 1.5% of the loan amount
Tenure20 years
Lowest EMI possibleRs 949 Per Lakh
Foreclosure/ Prepayment FeeNil* 

*for floating home loan

Reliance Home Finance Home Loan Features

  • Loan amount: Maximum up to 80% of Property Value;
    Up to Rs. 35 Lakh for affordable loans; No capping for regular home loans, subject to eligibility
  • Processing fee: 0.5% to 1.5% of the loan amount
  • Reliance Home Finance Home Loan Interest Rates are calculated on floating basis. 
  • Current interest rate for Reliance Home Finance Home Loans vary from 9.75% to 13% p.a. 
  • Maximum repayment tenure is up to 20 years for resident Indians & 15 years for NRIs.
  • Lowest possible EMI is Rs. 949 Per Lakh.
  • Reliance Home Finance Loans can be availed for purchase, construction or renovation of residential properties.

Reliance Home Finance Home Loan Benefits

  • Easy documentation. You do not need to submit additional documents after completion of application.
  • Approval for maximum amount. Loans approved for up to 80% of property value, subject to meeting eligibility. 
  • Doorstep service. An official from Reliance Housing Finance will visit you for document collection & other procedures. 
  • Quick and hassle free approval and sanction.
  • Transparent terms & no additional charge.

Reliance Home Finance Home Loan Eligibility Criteria

  • Both salaried & self-employed can apply.
  • Factors such as age, income, credit history, property location and repayment capacity are considered before evaluating your loan eligibility.
  • Reliance finance funds up to 80% of property value.
  • Salaried applicants should have a minimum of 3 years of work experience, while a self-employed professional/ business applicant needs to submit professional details/ business status and proof of financial stability.
  • Other factors such as your employer’s status, previous relationship with lender etc. will also improve your eligibility amount for Reliance HFL Home Loan.

Documents Required for Reliance Home Finance Home Loan

Here is the list of documents required for Reliance Home Finance Home Loan:

Identity Proof (copy of any one)
  • Aadhar Card
  • Passport
  • PAN
  • Voter's ID
  • Driving License
  • Any other legally approved Identity Card with applicant's photograph issued by Central or State Government
Address Proof (copy of any one)
  • Passport
  • PAN card
  • Voter's Identity Card
  • Driving License
  • Latest Utility Bill (such as electricity, telephone, post-paid mobile phone bill, piped gas and water bill)
  • Property Tax Receipt
  • Bank or Post Office Savings Bank Account Statement
  • Letter of Allotment of Accommodation issued
  • Leave & License agreements issued by Government to the employee
Signature Proof (copy of any one)
  • Driving License
  • Passport
  • PAN Card
  • Bankers' Verification
  • Registered Sale Deed
  • Government Employee ID Card
Income Documents - Salaried
  • 3 Month Salary Slip or Salary Certificate
  • Copy of last 2 years IT Return or Form 16
  • Salary Bank Account Statements for the last 6 months
  • Appointment/ Confirmation Letter for applicants with less than 1 year in current job
Income Documents - Self Employed
  • Audited financials for the last two years.
  • Income Tax Returns of directors/ partners for the last two years.
  • Bank Statements (of main operating account) for the last six months.
  • Qualification certificate from professionals such as Doctor, Chartered Accountant, Advocate, Civil Engineer, Architect etc.

Check Cibil Score for Home Loan

Reliance Home Finance Home Loan Interest Rates

Reliance Home Finance Home Loan interest rates are calculated on floating basis and resets with change in benchmark lending rates. Currently Reliance Home Loan Interest Rates for various products are as below:

Type of Home LoanRate of Interest (% p.a)
Regular Home Loan9.75% to 11.00%
Affordable home loan9.75% to 13.00%
Loans for Self-Construction9.75% to 13.00%
Plot + Construction Loan9.75% to 13.00%
Home Extension Loan9.75% to 13.00%
Home Improvement Loan9.75% to 13.00%
Home Loan Balance Transfer9.75% to 13.00%
Home Loan Top Up11.00% to 13.00%
Home Loan for Non Residential Indians9.75% to 13.00%

Reliance Home Finance Home Loan: Processing Fee & Other Charges

Processing Fees

Housing Loan: Up to 1.5% of loan amount (Including Non-refundable fee of Rs 3500 for affordable home loans & Rs 4500 for others.)

Construction Finance: Up to 3%

Documentation

Loan up to Rs 35 Lakh: Rs 2500

Loan more than Rs 35 Lakh: Rs 5000

Stamping/ Franking chargesAs per actuals
CERSAIRs 500
Dishonour chargesRs 750 per instance
Overdue interest3% per month on unpaid amount
Loan CancellationRs 10000 + applicable interest from date of disbursement
Part/ Full Prepayment

Floating Home Loans: NIL

Fixed & Combo Loans:

*During 6 to 12 months: 5% of outstanding principal

*During 13 to 24 months: 3% of outstanding principal

*After 24 months: 2% of Principle outstanding

Switch FeesUp to 2% of principal outstanding
Original Property Document handling / retrieval chargesRs 1500 per retrieval
Legal / Collection/ Repossession & Incidental chargesAs per actuals

** Tax & surcharge as applicable will be added.

Reliance Home Finance Home Loan Comparison with Other Top Banks

LenderMaximum Loan AmountMaximum TenureInterest RateProcessing Fee
Reliance Home Finance Home LoanUp to 80% of property value20 years9.75% onwards0.5-1.5% of the loan amount+ GST
Aditya Birla Housing Finance Home LoanUp to 90 % of property30 years9.00% - 12.50%Up to 1 % of the loan amount + GST 
Tata Capital Home LoanUp to 80% of property30 years6.70% onwards0.50% onwards + GST
Bajaj FinservUp to 80% of property cost30 years6.75% onwardsUp to 6% of the loan amount+ GST
HDFC Ltd Home LoanUp to 90% of property cost30 years6.70% onwardsUp to 1.50% or Rs. 4,500 (whichever is higher) + applicable taxes

Reliance Home Finance Home Loan Schemes & Offers

Reliance Home Finance Home Loans

  • Reliance Home Loan scheme for salaried & self employed
  • Loan amount should be more than Rs 35 lakh.
  • No capping on maximum amount, subject to maximum of 80% of the property value.
  • Max tenure is 20 years
  • Rate of interest will range from 9.75% to 11% p.a. on floating basis.
  • Processing fee is nominal in the range of 0.5% to 1.5% of the loan amount.

Reliance Home Finance Affordable Home Loans

  • Affordable home loan scheme for salaried & self-employed.
  • Maximum home loan sanction will be up to Rs 35 Lakh.
  • The rate of interest will range from 9.75% to 13.00 p.a. on floating basis.
  • Processing fee will vary from 0.5% to 1.5% of the loan amount.

Reliance Home Finance Loans for Self-Construction

  • Home Loan for construction of pre-owned residential plot.
  • The minimum sanction will be for Rs 7.5 Laks.
  • Maximum repayment tenure will be up to 20 years.
  • Reliance Home Finance Interest Rate for Self construction Loan will range from 9.75% to 13% p.a on floating basis.
  • Both salaried as well as self-employed can apply.
  • Processing fee will vary from 0.5% to 1.50% of the loan amount.

Reliance Home Finance Plot + Construction Loan

  • Loan for plot purchase and construction thereon.
  • Minimum loan amount should be Rs 7.5 Lakh.
  • Both salaried and self-employed can apply.
  • The Interest Rate of Reliance Home Finance for Plot + Construction Loan will range within 9.75% to 13% p.a on floating basis.
  • Maximum repayment tenure will be 20 years.
  • Processing fee will range in the range of 0.5% to 1.5% of loan amount.

Reliance Home Finance Home Extension Loan

  • Both salaried as well as self-employed can apply for Reliance Loan for funding extension of pre-owned/ self-occupied housing unit.
  • The minimum application should be for Rs 7.5 Lakh.
  • The maximum repayment tenure on offer is 20 years.
  • The rate of interest will range from 9.75% to 13 % p.a.
  • The processing fee is also standard within range of 0.5% to 1.5% of loan amount.

Reliance Home Finance Home Improvement Loan

  • Both salaried and self-employed can apply for home improvement loan for financing home renovation & repairs.
  • The minimum amount should be Rs 7.5 Lakh.
  • Reliance Finance Home Loan Interest Rate for home improvement loan will range from 9.75% to 13% p.a.
  • The maximum repayment tenure for home improvement loan will be 20 years.
  • All profiles can apply.

Reliance Home Finance Home Loan Balance Transfer

  • Opt for Reliance Home Loan Balance Transfer for reducing your EMIs.
  • Minimum amount should be Rs 7.5 Lakh.
  • Maximum tenure can go up to 20 years.
  • The rate of interest will vary from 9.75% to 13 % p.a on floating basis.
  • Both salaried as well as self-employed can apply for BT.
  • The processing fee is 0.5% to 1.5% of the loan amount.

Reliance Home Finance Home Loan Top Up

  • Existing Reliance Home Finance customers can avail of hassle free home loan top up for multiple purposes.
  • The minimum amount for top up should be Rs 5 lakh.
  • The rate of interest will be according to your previous home loan, in the range of 1-13% p.a.
  • Maximum tenure for home loan repayment will be extended up to 20 years.
  • Processing fee will also be applicable on the top up amount.

Reliance Home Finance Home Loan for Non Residential Indians

  • Special Home Loan scheme for Non Resident Indians or NRIs.
  • NRIs can avail of home loan for purchase of housing unit in India.
  • Minimum loan application amount should be Rs 7.5 Lakhs.
  • Maximum repayment tenure will be extended for 15 years.
  • The rate of interest will range from 9.75% to 13.00% p.a. on floating basis.
  • Only salaried NRIs can apply.
  • The processing fee will be 0.5% to 1.5% of the loan amount.

Pradhan Mantri Awaz Yojna (PMAY)

  • PMAY is the central government’s pilot scheme for credit linked subsidy on home loans up to Rs 2.67 lakh.
  • The scheme is envisioned to offer affordable housing credit to first time home buyers.
  • Home Loan customers eligible for the subsidy can apply for the same on the official PMAY website.
  • The approved PMAY beneficiaries get subsidy directly in their loan account.
  • The subsidy is extended for maximum up to 20 years.
  • The borrowers are divided into 4 categories: Low Income Group (LIG), Economically Weaker Section (EWS), Middle Income Group (MIG) I & Middle Income Group (MIG) II in Rural and Urban Setting.

Check for 25 lakh home loan EMI and apply easily on MyMoneyMantra.

How to Calculate Reliance Home Finance Home Loan EMI?

It is completely hassle free to calculate Reliance Home Finance Home Loan EMI online. All you need to do is share loan details such as Home Loan Amount, Tenure and Interest Rate in Home Loan EMI Calculator and submit. You will instantly get Loan instalment as well as interest burden for overall loan. You will also get an amortization schedule and repayment schedule for loan.

 All in all, using Home Loan EMI Calculator you can make an informed decision.

Reliance Home Finance Home Loan Customer Care

Existing Reliance Home Finance customers can fill online query form on official website and contact the customer service representatives.

Alternatively you can contact Customer Care Helpline: (022) 3303 6662

Or, Email: customercare@reliancehomefinance.com

You can also initiate conversation by sending sms “HOME” to 561616

For correspondence contact Registered Office & Corporate Office:

The Ruby, 11th Floor,

North West Wing, Plot No. 29,

Senapati Bapat Marg, Dadar (West),

Mumbai - 400 028.

Contact Number: 022 47416400 (chargeable)

Call between 9:30 am to 5:30 pm on working days (Monday to Saturday). This number is not available on public holidays and 2nd & 3rd Saturdays.

Also Read - Factors Consider by Banks Before Approving Home Loan

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Reliance Home Finance FAQs

Who can apply for Home Loans from Reliance Home Finance?

Resident & non resident Indians can apply for Reliance Home Finance Loans. Salaried employees in the age group of 21 to 58 years (or up to retirement age of 60). Self-employed individuals in the age group of 21 to 65 years (till loan maturity) can apply for Reliance Home Finance Loan.

When should I apply for a Home Loan?

You can apply for a Home Loan either after finalising your property or even before it. Reliance Housing Finance Limited approves your Home Loan based on your credit worthiness and repayment capacity. Using a Pre-approved Home Loan letter, you can continue your property search.

What is the maximum tenure of Reliance Capital Home Loans?

RHFL Home Loans can be availed for maximum of 20 years. The loan term cannot be extended beyond 65 years of age for self-employed or beyond the retirement age of salaried employees.

How does RHFL calculate the Home Loan interest?

RHFL calculates interest on the monthly reducing balance method.

Does Reliance Home Finance implement Pradhan Mantri Awaas Yojana?

Yes, Reliance Home Finance is one of the nominated NBFCs that provide loans under the PMAY scheme.

Is it mandatory to get Home Loan insurance for Reliance Home Finance HL?

It is always advisable to have a Home Loan insurance policy. It can save your near and dear ones the liability of having to repay Home Loan in case of an undesirable eventuality. It is also better to have a home insurance policy in place to protect your home from untoward incidents like riots, earthquakes, floods, tsunamis, landslides and so on.

Who can be a co-applicant for Reliance Home Finance Home Loan?

Any close relative such as spouse, father or son can become your co-applicant for Home Loan. Also, the co-owners of the property should mandatorily be the co-applicants.