Religare Enterprises Limited (REL) is the major holding company for one of the country’s most renowned and diversified financial services groups. REL offers an integrated bouquet of financial services through several operating entities and subsidiaries. The portfolio of Religare services includes loans for Small & Medium Enterprises (SMEs), health insurance, affordable housing finance, capital markets and wealth management and so on. Religare has already earned a listing on the Bombay Stock Exchange and National Stock Exchange. As a prominent group, Religare financial services are tailored for almost every market segment including mass retail, midsized corporates, high net worth individuals, SMEs, ultra high net worth individuals and large corporates and institutions.
About Religare Bank
The organization has more than 7, 000 employees and a presence throughout more than 1, 450 locations across India. Health insurance services are provided through Religare Health Insurance Co Limited. There are partnerships with the Corporation Bank and Union Bank of India as well. Religare Securities Limited operates as the retail broking arm with an omni channel presence. Religare Wealth Management Limited is an advisory backed management platform catering to Ultra high net worth individuals and high net worth individuals. Religare Capital Markets Limited takes care of institutional equities.
Vision and Values
The name of the organization is drawn from a Latin word which means to bind together. The name has been selected to highlight the integrated nature of all Religare financial services online.
The name has been paired with a four leaf clover symbol which is considered good fortune. Trust, Care, Good Fortune and Hope are four key attributes of the leaves in the Religare clover. Core values include top notch customer support and service, continual upgradation and improvement, setting new performance standards, teamwork, honesty, integrity, technological upgradation and understanding customer needs to the fullest.
A core part of the Religare lending portfolio is affordable housing finance under the Religare Housing Development Finance Corporation or RHDFC. This is registered with the National Housing Bank and offers home-purchase, home improvement and home construction loans to the low income segments and primarily individuals engaged in informal sectors across semi-urban and urban India through differentiated and robust services.
Religare home loans
There are several loans under the home loan bouquet. However, the primary home loan is offered for purchase/construction of a new/old flat, plot or house or even for extension of an existing flat or house. Self employed individuals above 21 years and salaried professionals above 25 years with a minimum of 3 years working experience and stable income, are eligible for home loans. Loan amounts range between INR 20 lakhs and 5 crore. Loans up to 80% of the property value are provided while 20% has to be put up by the applicant. The maximum repayment period is 15 years and loans can be transferred to Religare from other financial institutions or banks.
Religare home improvement loans
RHDFC has several home improvement loans that one can take for repairs/repainting/renovation/improvement/extension of any existing home along with purchase of furniture/furnishings/fixtures. The eligibility is same as above with the applicant having to jointly or singly owning any residential property. The loan amount is a maximum of INR 100, 00, 000 but should not exceed 80% of the total documented cost of the project. 20% of the cost of the project should be put up by the applicant. The tenure ranges between 1-15 years.
Religare home extension loans
Home extension loans are provided for building additional floors, adding bedrooms, building extra rooms on terraces and so on. Eligibility is the same as the home improvement loan. A maximum of INR 100, 00, 000 is provided as loan but not exceeding the total documented cost of the project. 25% of the cost of the project has to be ideally provided by the applicant while the tenure ranges between 1-15 years.
Religare self construction
This loan is provided to those who already own a plot of land on which they wish to build their future homes. The plot has to be situated within Municipal or local development authority limits. A maximum of INR 100, 00, 000 is given as a loan but this should not exceed 80% of the documented total cost of the property. The loan tenure varies between 1 to 15 years.
Religare business loans
Religare Finvest Limited (RFL), a subsidiary of Religare Enterprises Limited (REL) focuses on financing SMEs. It has a wide branch network and has also acquired ISO 9001: 2008 certification. RFL seeks to understand unique financial needs and offer customized solutions to meet the same. There are 25 branches across all major cities with several uniquely tailored loan solutions for enterprises.