Loan Against Property By Reliance Capital

Loans Against Property - Overview
 
A golden business opportunity presents itself and you need some extra funds to realise it. But finding a financial institution to fund this unique requirement is difficult. What you don’t realise is the potential your unused property holds in fulfilling your dream. Reliance Loans Against Property will help you meet your financial needs. Our customised offering lets you unlock the full potential of your property or land for your use to either expand your business or any working capital requirements. So, you can make all your dreams come true.

Whether your property is a residential house or land, Loans Against Property will ensure maximum finance with easy home mortgage loans, hassle-free tenure based EMI payment options, Lease Rental Discounting (LRD) schemes and a special Surrogate Income Programme.

Shape your business ambitions with Reliance Loans Against Property.

 
 
Loans Against Property - Features
 
 Avail of these loans against the security of your property - residential or commercial.

 Be it for a marriage, a holiday or for business, you use money as you desire.
 Get maximum finance against your property.
 Whether you are salaried or self employed, we cater to all your needs
 The loan amount can be repaid in simple EMIs as per the tenure you choose.
 Lease Rental Discounting (LRD) schemes.
 Special 'No income document' program.

 

Balance Transfer 

Our balance transfer advantage helps you to easily transfer an existing loan from another financial institution or bank to us at attractive rates. What's more? We even top it up you by providing a higher loan amount over and above your existing loan.

 

 

Loans Against Property - Eligibility
 
Use your priced possession to your advantage with Reliance Loan against Property. Avail our tailor-made loans at competitive interest rates. 

Check out the loan against property eligibility  criteria you need to meet to get the financial assistance required.

 
Criteria Salaried Self-Employed Self-Employed Non-Professionals
Type of Customers Funded Salaried includes individuals employed in Multinational Organizations, listed Public Ltd. Co., Government Organization, Pvt. Ltd. Co., Closely held Unlisted Company, Partnerships or Sole Proprietorship Individuals with professional qualifications like Practicing Doctors, Chartered Accountants, Engineers, Architect, Company secretaries Businessmen engaged in various business like Dealers, Wholesalers, Distributors, Traders across Service, Trading & Manufacturing
Minimum Age at Entry 21 years 21 years 21 years
Maximum Age at Loan Maturity 58/60 years depending upon retirement age 65 years 65 years
Minimum Gross Income Rs. 200,000 Rs. 200,000 Rs. 200,000
Minimum Loan Amount Rs. 500,000 Rs. 500,000 Rs. 500,000
Type of property Funded Ready & Resale Properties, Under construction properties of pre-approved builders Ready & Resale Properties, Under construction properties of pre-approved builders Ready & Resale Properties, Under construction properties of pre-approved builders
Minimum property Area for the Loan Residential Property - 500 Sq.ft 
Commercial Property 250 Sq.ft
Residential Property - 500 Sq.ft 
Commercial Property 250 Sq.ft
Residential Property - 500 Sq.ft 
Commercial Property 250 Sq.ft

 

Loans Against Property - Documentation
Individual
  • Application form
  • Passport copy / PAN Card / Ration card
  • Passport sized photographs of all applicants / co-applicants
  • Latest Form 16 and 3 months salary statement
  • Latest 6 month bank statement
  • Repayment track record, if any
  • Copy of Lease deed(For LRD)
  • 6 months bank statement of main operating account
  • Professional qualification certificate in case of Doctors
  • Proforma invoice of the equipment to be purchased.

Sole Proprietry/Partnership/Pvt Ltd Compa

  • Application form
  • Passport copy / PAN Card / Ration card
  • Office address proof
  • Passport sized photographs of all applicants / co-applicants
  • Certified copies of MOA / AOA /Partnership deed
  • Repayment track record, if any
  • 2 years audited financials
  • 2 yrs ITR of directors/partners
  • Professional qualification certificate in case of Doctors/CA/Lawyers/Architects
  • 6 months bank statement of main operating account
  • Copy of Lease deed (For LRD)

 

 

Loans Against Property - FAQs
Who can avail of Loans Against Property from Reliance Commercial Finance?

One can avail if one

  • Salaried individuals in the age group of 21 to 58/60 depending upon retirement age
  • Self-employed individuals in the age group of 21 to 65 years(at the end of the loan tenure)
  • Partnership Firms and Private Ltd.Companies

Which Products can be Financed?

  • Loan against Property-Residential&Commercial
  • Lease Rent Discounting
  • Balance Transfer cum Top Up
  • Existing Customer Top Up

What are the tenure options?

Loans against Property range from a minimum of 3 years upto a maximum of 15 years

How long will it take to process the loan?

Loans are processed within 2 working days of completing the documentation

Do I need a guarantor? 

  • All property owners to be co-borrowers
  • For sole property owner/applicant-one adult family member to be co-applicant
  • Partners and Promoter Directors will be taken as co-applicant in case of Partnership and Pvt ltd co.respectively

Do I have the option of pre-paying the entire loan amount? 

Yes.One can pre-pay the loan at any time after 6 months from the date of final disbursement of the loan.Foreclosure charges applicable.

Can I make part pre-payment? 

You can make part pre-payments of a minimum amount of Rs 50,000 after 6 months from the loan date.This payment can be made only once in a financial year subject to a maximum of 25%of the balance outstanding against your loan amount at the time of request.

How do I repay the loan? 

  • Electronic Clearing System(ECS)OR
  • Post dated cheques(PDCs)

What are the stages involved in availing a loan? 

  • Application
  • Processing
  • Documents
  • Sanctioning of the loan
  • Disburdement

Reliance Capital, a constituent of CNX Nifty Junior and MSCI Global Small Cap Index, is a part of the Reliance Group. It is one of India's leading and amongst the most valuable financial services companies in the private sector.

Reliance Capital has interests in asset management and mutual funds; life and general insurance; commercial finance; equities and commodities broking; wealth management services; distribution of financial products; asset reconstruction; proprietary investments and other activities in financial services.

Reliance Mutual Fund is amongst top Mutual Funds in India with over five million investor folios. Reliance Life Insurance and Reliance General Insurance are amongst the leading private sector insurers in India. Reliance Securities is one of India’s leading retail broking houses. Reliance Money is one of India’s leading distributors of financial products and services.

Reliance Capital has a net worth of Rs. 13,547 crore (US$ 2.2 billion) and total assets of Rs. 47,440 crore (US$ 7.6 billion) as on March 31, 2015.

Loan Against property lets you unlock the full potential of your property, and use it to build a bigger life for yourself. Whether your property is residential, industrial or commercial, a loan against property will ensure maximum finance, taking care of your unique needs as either a salaried or self-employed individual. At My Loan Partner, we help to unlock the wealth in our client's real estate assets.

Your loan application is now a very simple process as never before and we will get your loan approved asap.

We have multiple options of financial institutions to provide various types of financial services to our esteemed customers at their doorsteps at competitive rates.

We are thus providing a list of documents which are required from your side to get your loan approved from the respective banks and financial institutions.

List of documents for Salaried persons
. Proof of Identity:- Passport/Driving Licence/Voters ID/PAN Card(any one).
. Proof of Residence:- Leave and License Agreement/Utility Bill(not more than 3 months old)/Passport(any one).
. Latest 3 months Bank Statement(where salary/income is credited).
. Salary slips for last 3 months.
. 2 Passport Size Photographs.

List of documents for Self-Employed
. KYC Documents:- Proof of Identity;Address proof;DOB proof.
. Proof of Residence:- Leave and License Agreement/Utility Bill(not more than 3 months old)/Passport(any one).
. Income proof(audited financials for the last two years).
. Latest 6 months Bank statement.
. Office address proof.
. Proof of residence or office ownership.
. Proof of continuity of business.

Interested? Please leave your details and we will contact you soon