Home Loan Rates 2018 1243 views
- Know your eligibility for Reliance Home Loans.
- Check the list of documents you must have to get Reliance home loans.
Everyone desires to purchase a house of their own choice. With the option to get funds at low rate, it becomes easier to make your dream come true. Reliance Home Finance Limited is among those companies who have helped people buy their dream home. There are certain factors based on which the approval is decided. Read more to know about them in detail.
- Salary package
- Job stability
- Bank statement of past six months
- Salary slip of past six months
- Property owned
- Fixed deposits
- Other loans availed (if any)
Eligibility & Quotes from top PSU & Pvt. Banks | Lowest Interest Rates | Comfortable Tenure
Table of Contents
Reliance Home Loan May 2018
Salaried Employees and Self-Employed/Business Professionals are eligible to apply for Reliance Home Loans.
|Interest Rates||8.75% - 10.00%|
|Loan Amount||2 lakhs- Rs. 5 crores|
|Tenure||Upto 30 years|
|Age limit||> 21 years of age and < 65 years|
|Pre-payment or Foreclosure||Nil|
|Loan to Value||80% of the property value|
Documentation for Reliance Home Finance
The list of documents that you must have to get the approval or even apply for the loan. These are dependent for a salaried person and self-employed.
|For Salaried Employee||For Self-Employed/Business Professionals|
KYC Documents :
Identity Proof - Passport / PAN card / Voter’s Identity Card / Driving License / Identity card with applicant's Photograph issued by Government, Aadhar Card.
Address Proof - Passport / PAN card / Voter’s Card / Driving License / Latest Utility bill (electricity, telephone, postpaid mobile phone, piped gas, water bill) / Property Tax receipt / Bank or Post Office savings bank account statement / Letter of allotment of accommodation issued OR Leave and license agreements issued by Government to the employee.
Signature Proof - Driving licence / Passport / PAN Card / Bankers Verification / Registered Sale deed / Government Employee ID card
|-3 Months Salary Slip for Salaried or Salary Certificate|
-Copy of last 2 years Form 16 or IT Return.
--Bank Statement for the last 6 months of the salary account.
-Appointment /Confirmation letter if current job tenure is less than 1 yr.
|-Partnership Deed in Case of Partnership Firm; MOA/AOA in case of Company.|
-Copy of IT Return, Computation of Income, CA certified Balance Sheet and Profit & Loss Account, all for the last 2 years.
-Bank Statement for the last 6 months of the Business accounts
-Office Address proof.
-Tax audit report of individual partnership & company
-Latest Share Holding Pattern Attested by CA/CS in Case of Company.
-VAT/ Sales Tax Returns
--List of directors attested by CA/CS in case of Company.
-Sanction letter for working capital Limits & term loans with SOA.
-Copy of Degree Certificate in case of Professional.
-Other General Documents for Salaried and Self Employed
--Repayment Track Record for 1 year for existing loan.
-NOC of loan closed within 1 year.
-Bank debits for all current loans appearing in CIBIL report but not appearing in Bank statements submitted.
-Duly filled up and signed Application Form and MID.
-Processing Fee cheque.
Reliance Home Loan EMI Calculator
Check your EMI for the amount of loan you wish to take from Reliance Housing Finance. Enter the details such as loan amount, tenure, interest rate in loan EMI calculator and fetch your EMI value.
Table Showing EMI, Interest Outgo, and Total Repayment Amount EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
Total Interest Amount
Table Showing EMI, Interest Outgo, and Total Repayment Amount
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
Reliance Home Loan Eligibility Calculator
You can also check your home loan eligibility before applying. On the basis of your monthly income, tenure, expected interest rate and existing liabilities help you decide for the loan amount to apply.
Suppose you are working in an MNC and earning a monthly salary of Rs. 50,000. Out of which, you wish to save Rs. 10,000 for repaying it towards your EMI. Ideally, EMIs fall in the bracket of 50%-60% of your net salary for disbursing the higher amount of loan.
So, now, if you calculate your amount, tenure, and rate of interest, you will get to know your EMIs that you will have to pay every month so as to repay the loan amount that you are eligible for.
Amount- Rs. 1,00,000
Rate of Interest-9.55% p.a.
Loan Tenure-30 Years
Per Lac EMI- Rs. 845
Loan Amount Eligibility- Rs. 100,000 x savings/per lac EMI
– Rs. 100,000 x 10,000/845= Rs.11.83 lacs(approx.)
So, the expected home loan amount from Reliance Home Loan amounts to Rs.11.83 lacs(approx.)
Features and Benefits of Reliance Home Loan
- Customized Loan Solution
- Higher Loan Eligibility
- Attractive Interest Rates
- Longer tenure and lower EMI
- Availability of Loans under “No Income Proof” scheme
- Balance Transfer at attractive rate of Interest
- Simplified documentation
- Quick and Transparent Processing
- Loan sanction possible before selecting the property
- Doorstep service
Reliance Home Loan Customer Care Contact Number
If you are interested in obtaining a loan from Reliance Home Finance Company, contact an experienced customer care representative of Reliance Home Loan on : 1800 200 3838/1800 210 3030.