Reliance Loan Case Study

Reliance Loan

Reliance is one of the top multinationals in India. They offer a variety of products and services such as telecommunications, entertainment, petroleum and gas etc. Capital investments are also one of their prominent sectors. The company, through its hard work and dedication, has won over a loyal fanbase.

The company offers personal loans at low interest rates which can be paid back through Equated Monthly Instalments (EMI’s) over a period of time. These loans can be availed for all sorts of personal needs such as education, medical emergency, starting a new business or introducing fresh capital in an already existing business.

Following are the some of the prominent features of Reliance personal loan:
1. These loans can be

They can place the EMI amount at the centre and plan their budgetary expenditures accordingly. The applicant can also tweak the EMI calculator in order to get the best combination. This will help them save time and money.

What are eligibility criteria’s for getting a Reliance Loan?
Age: The minimum age for availing a loan is 24 and the maximum age is 65. Applicants not fulfilling this criteria are ineligible for a loan.
Credit Rating Score: The credit rating score is used to determine an individual’s financial behaviour. It reflects an applicant’s repayment history. The score is given on a scale of 900 points. An individual with a good credit score can easily avail the loan whereas an applicant with a bad credit rating will face a lot of hurdles. The applicant with a bad rating may be charged a high rate of interest.
Employment: The loan applicant should have their own business or they should be employed by someone. Employment assures that the individual in question has the financial resources to pay back the loan. A salaries individual will have the ability to pay back EMI on a monthly basis.

What are the documents required for availing a Reliance

This is done to verify that the applicant is not a tax defaulter.

What are the benefits of getting a Reliance Loan?
Brand: Reliance is a reputed brand. It has been in business for a long time. They have the experience and the necessary tools for providing loans for personal solutions.
No Extra Charges: The company does not charge any extra fee in the form of processing fee or foreclosure fee.
Low Interest Rates: The company offers competitive interest rates on the loan amount. The interest rates range between 10%-11.75% which can be paid through EMI’s starting at Rs. 878 per lakh.
Secured Loans: The company offers secured loans. This implies that the applicant does not have to give up anything as collateral in order to avail the loan.

What are the negatives of getting a Reliance Loan?
Complicated Details: The details that go in making a loan can turn out be plain babble for an average individual. This makes the applicant prone to cheat and theft. Therefore, it is wise for an applicant to do the necessary homework before availing a loan. Consultations with financial experts will be