FAQsWho 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
- Loan against Property-Residential&Commercial
- Lease Rent Discounting
- Balance Transfer cum Top Up
- Existing Customer Top Up
Loans against Property range from a minimum of 3 years upto a maximum of 15 yearsHow long will it take to process the loan?
Loans are processed within 2 working days of completing the documentationDo 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
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)
- Sanctioning of the loan