Read our standard loan agreement terms and conditions. This document outlines the rights and responsibilities of both borrowers and lenders.
Standard terms and conditions for all loan products
This loan agreement is made between:
Reliance Finance
Bandra Kula Complex Mumbai -400009
Phone: +91 9709822626
Email: info@rellancefinance.site
NBFC License No: XXXXXXX
CIN: LXXXXXMHXXXXXXCXXXXXX
[Borrower Name]
[Borrower Address]
Phone: [Borrower Phone]
Email: [Borrower Email]
PAN: [Borrower PAN]
Aadhaar: [Borrower Aadhaar]
₹[Loan Amount] (Rupees [Amount in Words])
[Interest Rate]% per annum
[Loan Tenure] months
₹[EMI Amount] per month
₹[Processing Fee] ([Percentage]%)
[Loan Type - Personal/Home/Business/Education/Car/Property]
Interest shall be calculated on a monthly reducing balance basis at the rate specified above.
A one-time processing fee as specified above shall be deducted from the loan amount at the time of disbursal.
Late payment of EMI shall attract a penalty of 2% per month on the overdue amount.
₹500 shall be charged for each EMI bounce due to insufficient funds.
Prepayment of loan shall attract charges as follows:
EMI shall be payable on the [Date] of each month through auto-debit from the borrower's bank account.
Payments shall be made through electronic clearing service (ECS) or post-dated cheques.
In case of default, the lender reserves the right to take legal action and recover the dues with interest and costs.
The borrower may foreclose the loan after completing 6 months of regular payments by paying the outstanding amount plus applicable charges.
The loan is secured by:
The loan is unsecured and based on the borrower's creditworthiness and income.
The borrower shall maintain adequate insurance for the collateral throughout the loan tenure.
The borrower warrants that:
The lender warrants that:
The following shall constitute events of default:
Upon default, the lender may:
The lender shall maintain confidentiality of all borrower information and shall not disclose it to third parties except:
The loan terms and conditions are confidential between the lender and borrower and shall not be disclosed without mutual consent.
Any grievances shall be addressed through our grievance redressal mechanism:
If disputes cannot be resolved amicably, they shall be referred to arbitration under the Arbitration and Conciliation Act, 1996.
All disputes shall be subject to the exclusive jurisdiction of courts in Mumbai, India.
Any amendments to this agreement shall be in writing and signed by both parties.
All notices shall be in writing and sent to the addresses mentioned in this agreement.
The lender shall not be liable for delays or failures due to circumstances beyond reasonable control.
If any provision of this agreement is found to be invalid, the remaining provisions shall continue to be valid.
_________________________
Authorized Signatory
Reliance Finance
Date: _____________
_________________________
Borrower
[Borrower Name]
Date: _____________
_________________________
Name: _______________
Address: _____________
Date: _____________
_________________________
Name: _______________
Address: _____________
Date: _____________
Please read this agreement carefully
Please read all terms and conditions carefully before signing. This is a legally binding document.
If you have any questions about any terms, please ask our representative before signing.
Please keep a copy of this signed agreement for your records.
You may consult with a legal advisor before signing this agreement.
If you understand and agree to these terms, proceed with your loan application