| Reliance Home Finance Loan Against Property Highlights | |
| Interest rates | 9.75% to 13% p.a. |
| Loan amount | Rs 10 Lakhs onwards |
| Loan tenure | Up to 12 years |
| Processing fee | Up to 2% |
| LTV Ratio | 70% of property value |
Note: Interest rates as of 14th November 2023
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Table of Contents
Reliance Home Finance Loan Against Property Interest rates
| Type of Loan Against Property | Interest Rates |
| Loan against property | 11.00% to 13.00% p.a. |
| Lease rental discounting | 12.00% to 13.00% p.a. |
| LAP Balance Transfer | 9.75% to 13.00% p.a. |
| Commercial Property Purchase Loan | 11.00% to 13.00% p.a. |
The final loan against property interest rates offered to the loan applicant would vary according to the credit score, monthly income, job profile, employer’s profile, etc. of the loan applicant.
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Reliance Home Finance Loan Against Property Fees and Charges
Processing fee and prepayment charges
| Processing fee | Up to 2% (including non-refundable fee of Rs 3,500 for loan up to Rs 35 Lakh and Rs 4,500 for loan more than Rs 35 Lakh) |
| Part/full prepayment charges | For floating rate of interest:
● No prepayment charges (part/full) are applicable for loans sanctioned for purposes other than business to individual borrowers, with or without co-borrowers. ● Prepayment charges are applicable for all loans where the applicant is non-individual as per the norms of prepayment charges for fixed rate of interest loans. ● Prepayment charges (part/full) are applicable for all loans sanctioned for the purpose of business as per norms of prepayment charges for fixed rate of interest loans. |
Other fees and charges
| CERSAI Charges | Rs 500 per property |
| Charges for change in property or asset | Rs 0.5 of principal outstanding |
| Dishonor charges | Rs 750 per instance (inclusive of taxes) |
| Loan cancellation charges | Rs 10,000 along with applicable interest amount from the date of disbursement till the date of cancellation will be charged |
| Switch fees/rate reduction charges | tenure/EMI: up to 2% of principal outstanding |
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Types of Reliance Loan Against Property
Loan Against Property
- Amount: Up to Rs 10 lakh
- Tenure: Up to 12 years
Lease Rental Discounting
- Amount: Up to Rs 10 lakh
- Tenure: Up to 10 years
LAP Balance Transfer
- Amount: Up to Rs 10 lakh
- Tenure: Up to 12 years
Top-up LAP
- Amount: As per the balance amount of the parent loan
- Tenure: Up to 13 years
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Eligibility Criteria for Reliance Home Finance LAP
Reliance Home Finance offers loan against property only to self-employed applicants after factoring in their monthly income, age, credit history, employment status, professional status and property value.
Reliance Home Finance LAP Documents Required
- Identity proof: Passport/ PAN card/ Voter’s Identity Card/ Driving License/ Identity Card with applicant’s photograph issued by Government, Aadhar Card.
- Passport/ PAN card/ Voter’s Identity Card/ Driving License/ Latest Utility Bill (electricity, telephone, postpaid mobile phone, piped gas and water bill)/ Property Tax Receipt/ Bank or Post Office Savings Bank Account Statement/ Letter of Allotment of Accommodation issued OR Leave and License agreements issued by Government to the employee
- Driving License/ Passport/ PAN Card/ Bankers’ Verification/ Registered Sale Deed/ Government Employee ID Card.
The bank may also ask for additional loan against property documents based on the applicant’s profile.