What are the channels through which I can repay the loan?

You can repay the loan through National Automated Clearing House (NACH), Electronic Clearing System (ECS), or demand draft.

How much interest do I have to pay and how is it calculated?

The final rate offered to you will be as per your eligibility. It will be calculated based on the monthly reducing balance. To be precise, while calculating, your outstanding principal at the end of each month will be taken into consideration.

Is there any insurance facility available with the personal loan?

Yes, the personal loan scheme comes with an insurance facility offered by their group company - Reliance General Insurance Company Limited.

Can I use this loan for commercial purposes?

Yes. You can use a Reliance Money personal loan for commercial reasons.

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Reliance Personal Loan

Reliance money offers personal loans for customers without the need of submission of income proof. The personal loan scheme is offered at attractive interest rates and flexible tenures.

Repayment tenure between 12 months and 48 months
No income proof needed to avail the loan
Hassle-free loan processing
Lending rates are based on the eligibility of the applicant

Features and Benefits

Loan without income proof - Borrowers are not mandated to provide any income proof in order to become eligible to receive the required funds.
Prepayment option available - Prepayment can be availed after 6 months starting from the date of loan disbursement. In case a customer wants to prepay his or her loan before the completion of 6 months, he/she will have to get product approval for the same.
Loan repayment through several channels - If a customer secures a personal loan under this financing plan, he or she will have the flexibility to repay the debt using a channel that is convenient to him/her such as Demand Draft (DD), National Automated Clearing House (NACH), and Electronic Clearance Service (ECS).
Loan approved and disbursed without any hassles - Once the documentation process is completed, the loan will be approved in 3 days.
No collateral required - In order to be eligible for this personal loan scheme, the borrower is not required to provide any collateral or third-party guarantor as security.
Online EMI clearance status check - When an individual avails a loan under this scheme, he or she will be able to benefit from the EMI clearance status check facility available at the company's online portal at https://www.selfreliant.in. The borrower can also call the customer care team at Reliance Money from 9:30 a.m. to 5:30 p.m. on all days except Sundays and public holidays to learn about the status.
Insurance policy add-on - Reliance Money has a tie-up with its Group Company known as Reliance General Insurance Company Limited to offer insurance facility to its customers who have applied for a personal loan through the company.

Loan Details

Interest Rate	Best possible rate offered based on eligibility
Tenure	12 months to 48 months

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Rates and Charges

Category	Details
Particulars	Applicable Charges
Cheque Bounce Fee	Rs.600
Cheque Swapping Fee	Rs.500
Change of EMI Cycle Date Fee	N/A
Reschedulement Charges	N/A
Overdue Interest	26% p.a.
Duplicate NOC Fee	Rs.500
Outstation Cheque Charges	Rs.45 each cheque
Loan Statement Charges (per statement)	Nil
Cheque Revalidation Fee	Rs.300
Loan Cancellation Charges	Rs.2,000
Prepayment Charges	Before 6 months starting from the date of disbursement - N/A After 6 months starting from the date of disbursement - 2% of the outstanding principal amount + GST
Prepayment Statement Fee	N/A
Charges for SPDC Retrieval in Case of Swap, Preclosure, Maturity, or Customer-Induced Cancellation	At the time of Preclosure, Maturity, Swap, or Customer-Induced Cancellation - Rs.300 Up to 60 days starting from the date of Customer-Induced Cancellation, Preclosure, Maturity, or Swap - Rs.450
Non Refundable Fee	N/A
Conversion Charges	N/A
Charges for Transferring from Fixed Rate to Floating Rate or Vice Versa	N/A
Part Disbursement Fee	N/A
Copies of Agreement, Loan Documents, or Retrieval of Share Certificate	N/A

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Documents Required

Passport-size photographs
PAN card
Aadhaar card
Proof of identity such as Driving Licence, Voter ID, Passport, or any other valid photo ID card issued by the state or central government
Proof of address such as Passport, Voter ID, Telephone or Electricity bill, Driving License, Bank Statement, Registered Lease Deed or Sale Agreement, etc.
Bank statements for the past 6 months from the date of application showing the salary credit details of the borrower

How to Calculate Your Reliance Money Personal Loan EMI

Calculating the payable equated monthly installment (EMI) before applying for a loan is crucial as it helps you manage your finances better and prevents you from defaulting. Learn how you can calculate the amount you will have to pay every month if you borrow a certain amount for a specified period of time.

Go to the official website of Reliance Money at www.reliancemoney.co.in.
Click on 'Personal loans' under the 'Products' tab available in the navigation tab.
You will be directed to the page containing the details about the personal loans offered by the company.
Find the 'Calculate EMI' tab available on the menu available on the left side of the page and click on it.
You will be redirected to the section containing the EMI calculator.
Now, enter the details such as loan amount, rate of interest in percentage, and repayment tenure in months.
Click on 'Calculate' below the calculator and your applicable monthly installment amount will be displayed in the 'EMI' section.

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How to Apply for a Personal Loan From Reliance Money

See the list mentioned below to learn about the steps that you will have to follow once you decide to opt for a Reliance Money Personal Loan:

Step 1: You will have to apply for the scheme by filling out the application form with the required details.

Step 2: Next, you will be required to submit the necessary documents for verification.

Step 3: After the verification process is completed, you will receive a personalized quote based on your age, income, existing EMIs, employer, credit score, work experience, etc.

Step 4: Then, you will have to select the right plan based on your specific financial requirement, repayment capacity, and circumstances.

Step 5: The loan application will then be processed for approval.

Step 6: Once the loan is approved, the loan amount will be disbursed to the active bank account of the borrower.

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FAQs on Reliance Personal Loan

What are the channels through which I can repay the loan?
You can repay the loan through National Automated Clearing House (NACH), Electronic Clearing System (ECS), or demand draft.
How much interest do I have to pay and how is it calculated?
The final rate offered to you will be as per your eligibility. It will be calculated based on the monthly reducing balance. To be precise, while calculating, your outstanding principal at the end of each month will be taken into consideration.
Is there any insurance facility available with the personal loan?
Yes, the personal loan scheme comes with an insurance facility offered by their group company - Reliance General Insurance Company Limited.
Can I use this loan for commercial purposes?
Yes. You can use a Reliance Money personal loan for commercial reasons.

Important Personal Loan Pages

Personal Loan Eligibility by Banks

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Personal Loan EMI Calculator by Bank

Personal Loan Customer Care by Bank

Personal Loan Status Track by Bank

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