Terms of Service

1. Acceptance of Terms

By accessing and using Reliance Finance's website and services, you agree to be bound by these Terms of Service. If you do not agree to these terms, please do not use our services.

• These terms constitute a legally binding agreement
• You must be at least 18 years old to use our services
• You must have the legal capacity to enter into contracts
• By applying for a loan, you accept these terms

2. Loan Services

Reliance Finance provides various loan services including personal loans, home loans, business loans, education loans, and car loans. All loans are subject to eligibility criteria and approval process.

• Loan approval is subject to credit assessment
• Interest rates are determined based on your credit profile
• Processing fees may apply to all loans
• Loan terms and conditions vary by loan type
• We reserve the right to reject any application

3. Eligibility Criteria

To be eligible for our loan services, you must meet certain criteria including age, income, credit score, and employment requirements.

• Minimum age: 21 years
• Maximum age: 60 years at loan maturity
• Minimum income requirements vary by loan type
• Credit score of 650 or higher preferred
• Valid identity and address proof required
• Stable employment or business income required

4. Application Process

The loan application process involves submitting required documents, credit assessment, and approval. You must provide accurate and complete information.

• Submit complete and accurate information
• Provide all required documents
• Undergo credit assessment process
• Receive loan offer with terms and conditions
• Accept loan offer to proceed with disbursal

5. Interest Rates and Fees

Interest rates and fees vary based on loan type, amount, tenure, and your credit profile. All charges are clearly disclosed before loan approval.

• Interest rates range from 7.5% to 16% per annum
• Processing fees: 1% to 3.5% of loan amount
• Prepayment charges may apply
• Late payment penalties will be charged
• All fees are disclosed upfront

6. Repayment Terms

Loan repayment must be made as per the agreed schedule. Late payments may attract penalties and affect your credit score.

• EMI payments must be made on due dates
• Late payment charges: 2% per month
• Bounce charges: ₹500 per instance
• Prepayment allowed after 6 months
• Prepayment charges: 2% to 5%

7. Data Privacy and Security

We protect your personal information as per our Privacy Policy. Your data is used for loan processing, credit assessment, and service improvement.

• Your data is encrypted and stored securely
• We share data with credit bureaus for assessment
• Data is shared with service providers as needed
• You can request data access or deletion
• We comply with applicable data protection laws

8. Default and Consequences

If you default on loan repayment, we may take legal action to recover the dues. Default affects your credit score and borrowing ability.

• Default is declared after 90 days of non-payment
• Legal action may be initiated
• Credit score will be negatively impacted
• Collateral may be seized (for secured loans)
• Collection charges may apply

9. Dispute Resolution

Any disputes arising from these terms will be resolved through mutual discussion. If unresolved, disputes will be resolved through arbitration.

• First attempt mutual resolution
• Arbitration under Indian Arbitration Act
• Disputes subject to jurisdiction of courts in Mumbai
• Legal costs to be borne by losing party

10. Termination

We may terminate your access to our services if you violate these terms. You may also terminate your relationship with us by closing your loan account.

• We can terminate services for violations
• You can pre-close your loan anytime
• Prepayment charges may apply
• Outstanding dues must be cleared

11. Limitation of Liability

Our liability is limited to the loan amount and associated charges. We are not liable for indirect or consequential damages.

• Liability limited to loan amount
• No liability for indirect damages
• No liability for third-party actions
• No liability for system failures

12. Amendments to Terms

We may amend these terms from time to time. Changes will be effective upon posting on our website.

• We can modify terms with prior notice
• Changes will be posted on website
• Continued use constitutes acceptance
• Material changes will be communicated separately

13. Contact Information

For any questions about these terms, please contact us:

14. Governing Law

These terms are governed by the laws of India. Any disputes will be subject to the exclusive jurisdiction of courts in Mumbai, India.

• Governed by Indian laws
• Jurisdiction: Mumbai courts
• Arbitration under Indian law
• English language version prevails