Who can avail Personal loan of Reliance Commercial Finance?

Salaried Individuals, Self Employed Professionals, & Self Employed Businessmen

What are the lending rates?

The best possible rate, as per the eligibility of the individual.

What are the loan tenure options?

12-48 months

Which Personal Loans can be financed?

Travel, Marriage, Renovation, Education, work expansion and other personal uses.

How is the interest charged/calculated?

Interest is calculated on a monthly reducing balance basis.

What is a Monthly Reducing Balance?

In the case of monthly reducing balance method, the principal gets reduced at the end of every month and the interest is calculated on the outstanding principal at the end of the month

Do I have to pay any additional charges?

Please refer Fees & Charges Schedule.

Can I use the Personal Loan for Commercial Usage?


How long will it take to process the loan?

Loan approval will be done on the spot, if all requisite formalities are complied with. Disbursal will be within 3 days from the date of completion of documentation.

What are the stages involved in availing a loan?

The stages involved are:

  • Application
  • Processing of the loan
  • Documentation
  • Disbursement

What security/collateral do I have to provide?

No security/collateral is required from RCFL. Security PDC will be taken while loan sanctioning.

Do you offer an Insurance Facility for the Personal Loans?

Yes. The Insurance facility is provided through a tie–up with our Group Company (Reliance General Insurance Company Limited)

How do I repay the loan?

EMI’s in the form of NACH, DD and ECS.

Is the EMI charged as Advance EMI or Arrears EMI?

Both the options are available suiting to your needs.

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

Yes. One can pre-pay the loan any time after 6 months of availing of the loan. One merely has to pay a small prepayment fee on the outstanding loan amount.

What is the process of TDS refund?

For TDS refund, you can claim TDS refund at 10% on interest component by submitting Form 16A. We request you to kindly download the original Form 16A from TDS TRACES site https://www.tdscpc.gov.in/ and submit original copy of TDS certificate duly signed by you. You can send us the digitally signed TDS certificate through E-mail by mailing it on our customer care email id (moc.ecnaniflaicremmocecnailer@eracremotsuc) or manually signed TDS certificate can be submitted by visiting our nearest Branch or by dispatching the original certificate through courier.

Kindly note that below details should be mentioned on TDS certificate:

  • Name of the company on TDS certificate -“Reliance Commercial Finance Limited”.
  • Permanent Account Number for Reliance Commercial Finance Limited as “AABCR6898M"
  • Address to be mention on TDS certificate as:
Reliance Commercial Finance Limited
Reliance Centre, 6th Floor, South Wing
Off Western Express Highway
Santacruz East
Mumbai – 400055

Your request will be processed and you will receive the refund within 8 working days of receipt of original certificate.

You may also visit the nearest Branch for more details. Click here for Branch Locator.

What is the process for checking the EMI clearance status?

EMI clearance status can be checked online through our portal (https://www.selfreliant.in) or you can call on our customer care number 022-39484900 / 044-30787400 between 9.30am to 5.30 pm except Sundays & public holidays.

Note - EMI clearance status will get updated in our system within 3 working days of your EMI due date.

What is the procedure for prepaying the loan?

You can prepay the loan any time after 6 months of availing of the loan. You have to pay a prepayment fee on the outstanding loan amount. For pre-closure of the loan you will have to give request for pre-closure statement by calling on our customer care number 02239484900/4430787400 between 9.30am to 5.30 pm except Sundays & public holidays or by sending Email on our Customer care email id (moc.ecnaniflaicremmocecnailer@eracremotsuc)

On receipt of pre-payment statement, we request you to visit our branch along with the following documents for the closure of the loan.

Documents Required:
  • Main Applicant Identification & address proof required (Driving License or Passport or Voters card or PAN Card or Adhaar card).
  • Bank Statement showing last Month EMI clearance.
  • Kindly carry 1 cancelled cheque for RTGS, for refund if any.

Prepayment can be made either through Cheque/ Draft favouring “Reliance Commercial Finance Limited”.

Once your loan is closed, No Objection Certificate, along with Indemnity letter for unused cheques will be sent on your registered address within 10-12 working days.