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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?

NO insurance facility is available.

How do I repay the loan?

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

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

Yes. One can pre-pay the loan. Refer fees and charges

What is the process of TDS refund?

TDS refund facility is not available in Personal Loans.

What is the process for checking the EMI clearance status?

EMI clearance status can be checked online through our portal ( or you can call on our customer care number 022-47415800 between 9:30am to 6:30 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?

One can prepay the loan by visiting any of the Reliance Money branches by paying the pre-payment charges.
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.