Reliance Loan Against Property – Eligibility & Interest Rates 2016

Loan Against Property

Reliance commercial finance is one of the leading loan providers of India for the young entrepreneurs who want to unleash their property. The rate of interest with longer tenure period and higher loan amount makes this multipurpose loan facility a good opportunity for the new businessmen of India. You can take the loan against commercial, residential, industrial property or land for business requirements, Reliance loan against property becomes a good choice.

Reliance Loan Against Property Details

ParticularsDetails
Interest Rate13.50%
Loan AmountRs. 25,00,000/- onwards
Tenure5 years to 15 years
Processing Fee1% of the loan amount + applicable tax
Prepayment Charges4% the outstanding loan amount + applicable tax
Repayment ModeMonthly EMI through cheque, ECS

How to Apply

To get a loan against property from Reliance Commercial Finance Co., you need to submit the above-mentioned documents as per the eligibility at the nearest branch.

Loan Against Property EMI Calculator

The detailed information on the EMIs, total interest outgo and total amount, refer to the table given below:

Table for EMI per month, Total Interest Outgo and Total Amount

Amount (in Rs.)Interest Rate (p.a)Loan Tenure (in years)EMI (in Rs.)Total Interest Outgo (in Rs.)Total Amount (Principal + Interest)(in Rs.)
25,00,00013.50%12,23,8801,86,56126,86,561
25,00,00013.50%21,19,4433,66,62128,66,621
25,00,00013.50%3848385,54,17630,54,176
25,00,00013.50%4676917,49,15932,49,159
25,00,00013.50%5575259,51,47734,51,477
25,00,00013.50%65084711,61,01336,61,013
25,00,00013.50%74616213,77,62738,77,627
25,00,00013.50%84272016,01,15841,01,158
25,00,00013.50%94010618,31,42543,31,425
25,00,00013.50%103806920,68,22945,68,229
25,00,00013.50%113645023,11,35648,11,356
25,00,00013.50%123514325,60,58250,60,582
25,00,00013.50%133407528,15,66853,15,668
25,00,00013.50%143319330,76,36955,76,369
25,00,00013.50%153245833,42,43358,42,433
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Amortization Table

YearPrincipal (in Rs.)Interest (in Rs.)Balance Amount (in Rs.)
1553373,34,15924,44,663
2632883,26,20823,81,375
3723813,17,11523,08,994
4827803,06,71622,26,214
5946732,94,82321,31,541
61,08,2762,81,22020,23,265
71,23,8302,65,66618,99,435
81,41,6232,47,87317,57,812
91,61,9702,27,52615,95,842
101,85,2422,04,25414,10,600
112,11,8551,77,64111,98,745
122,42,2951,47,2019,56,450
132,77,1041,12,3926,79,346
143,16,919725773,62,427
153,62,78827044

Eligibility Criteria 

CriteriaSalariedSelf-employedSelf-employed Non-Professionals
Type of customers fundedSalaried includes individuals employed in Multinational Organizations, listed Public Ltd. Co., Government Organization, Pvt. Ltd. Co., Closely held Unlisted Company, Partnerships or Sole ProprietorshipIndividuals with professional qualifications like Practicing Doctors, Chartered Accountants, Engineers, Architect, Company secretariesBusinessmen engaged in various business like Dealers, Wholesalers, Distributors, Traders across Service, Trading & Manufacturing
Minimum age21 years21 years21 years
Maximum age58/60 years65 years65 years
Minimum gross annual incomeRs. 5,00,000/-Rs. 5,00,000/-Rs. 5,00,000/-
Type of property fundedReady & Resale Properties, Under construction properties of pre-approved buildersReady & Resale Properties, Under construction properties of pre-approved buildersReady & Resale Properties, Under construction properties of pre-approved builders
Minimum property areaResidential Property 500 Sq.ft Commercial Property 250 Sq.ftResidential Property 500 Sq.ft Commercial Property 250 Sq.ftResidential Property 500 Sq.ft Commercial Property 250 Sq.ft

Documents Required

IndividualSole Proprietry/Partnership/Pvt/ Ltd/ Company
Application form
PAN Card/Passport Copy/Ration Card
Form 16
Last 3 months salary slip
Last 6 months bank statement
Repayment track record, if any
Copy of Lease deed (For LRD)
Professional qualification certificates in case of Doctors
Proforma invoice of the equipment to be purchased
Application form
PAN Card/Ration Card/Passport Copy
Office Address Proof
Passport sized photographs of applicant/s
Certified copies of MOA/AOA/Partnership deed
Repayment track record, if any
Last 2 years audited financials
Last 2 years ITR of directors/partners
Professional qualification certificates in case of Doctors/CA/Lawyers/Architects
Last 6 months bank statement
Copy of lease deed (For LRD)
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Features & Benefits

  • Loan for entrepreneurs
  • Loan against residential, commercial, industrial property & land
  • No financial documents required for loan amount up to Rs. 3 Crore
  • Longer tenure period
  • No upper limit for loan amount
  • Flexible repayment options
  • Loan approval within 2 working days

Reliance Loan Against Property Interest Rate

For loan against property at Reliance Commercial Finance Co., the applicable rate of interest is 13.50% per annum. 

Reliance Commercial Loan Customer Care

To know more about loans, you can contact on the toll-free number: 1800 210 3030