20,00,000 people visited this section in last 30 days. Apply Online

Get Cashback of Upto ₹ 1,000* on Home Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0 Apply Online

Edelweiss Home Loan Eligibility Calculator

Edelweiss Home Loan Eligibility in India 2021

Last Updated 10th Jun 2021

Eligibility CriteriaEdelweiss Home Loan
Eligible Age of Borrower21 - 60 years
  • Edelweiss home loan eligibility is dependent on factors like your age, income, property value and repayment capacity.
  • Edelweiss calculates the amount of home loan you are eligible for using a formula that includes your net take home salary, the EMIs you have to pay and the value of property.
  • You can increase your eligibility to get a housing loan from Edelweiss by adding earning family members as co-applicants or by applying for a longer tenure loan.
Home Loan Eligibility Calculator

Edelweiss Home Loan Eligibility

Edelweiss offers various home loan schemes and offers at affordable rates to eligible customers whether salaried or self-employed. Edelweiss housing loan eligibility is based on factors like age, salary, occupation, property type and credit score. Detailed information on these factors is mentioned in the further sections.

Edelweiss Home Loan Eligibility based on Age

  • Age: Your age plays an important role in determining your eligibility and repayment capacity for home loan. Lower your age, higher will be the time period available to repay the loan, and hence higher home loan amount eligibility. The minimum age limit to get Edelweiss home loan is 21 years at the time of loan commencement and maximum age limit is 60 years. Edelweiss offers home loans for a maximum period of 30 Years subject to the condition that the borrower’s age at the end of the tenure must not exceed 60 of tenure.

Edelweiss Home Loan Eligibility based on Salary

Edelweiss offers loan to self employed and businessmen for financing the expansion or working capital requirements of their business. There are some benefits of taking loan from Edelweiss:

  • Net income: Your net monthly income determines how much Edelweiss home loan EMI you are capable of paying after meeting all the living expenses based on your standard of living. For instance, if your salary is ₹ 25,000 then at interest rate of 6.75% offered by Edelweiss, the loan amount that you will be eligible for would be ₹ 24,08,567 to ₹ 34,42,134 depending on your age. Similarly, if your salary is ₹ 75,000, ou might get eligible for a loan amount of ₹ 48,17,134 to ₹ 68,84,268 for the same property at the same rate depending on your age at the time of loan application. However, Edelweiss asks for a net monthly income of ₹ 0 to avail a home loan.
Age Net Monthly Income (₹)
25,000 50,000 75,000
25 years34.42 Lakh51.63 Lakh68.84 Lakh
30 years34.42 Lakh51.63 Lakh68.84 Lakh
35 years34.42 Lakh51.63 Lakh68.84 Lakh
40 years32.55 Lakh48.83 Lakh65.11 Lakh
45 years29.40 Lakh44.10 Lakh58.80 Lakh
50 years24.09 Lakh36.13 Lakh48.17 Lakh

You may consider repaying any loans with short tenure and high EMI in order to increase your Edelweiss home loan eligibility.

  • Nature of employment: Edelweiss will check whether you are salaried or self-employed and the company and sector in which you are working. It also looks at your years of experience to check for job and income stability. Edelweiss requires minimum income history and job stability of more than 0 years for salaried individuals and of 0 years for self-employed individuals.

Home Loan Eligibility Edelweiss based on Value of Property

  • Value of property: Edelweiss does not finance the entire property value. The maximum home loan eligibility would depend upon the value of the property as shown below:
Property Value LTV
Less than 30 Lakh90%
Between 30 Lakh and 75 Lakh80%
Above 75 Lakh75%
  • Property documents: Your property’s legal documents should be satisfactory and be cleared by the Edelweiss's legal team.

The housing loan eligibility calculator of Edelweiss can be a useful tool to assess your eligibility for the loan.

Minimum CIBIL Score for Edelweiss Home Loan

  • CIBIL Score: Edelweiss considers credit score as a barometer to gauge your past credit behaviour and hence, CIBIL score becomes the most important factor to define your eligibility to get a home loan. Higher credit score increases your chances to get loan approval from Edelweiss However, low CIBIL score reduces your chances to get a home loan. Edelweiss requires a minimum credit score of 650 to be eligible for a home loan.

Edelweiss Housing Loan Eligibility Calculator based on FOIR

FOIR (Fixed Obligation to Income Ratio) is an important parameter used by Edelweiss to determine your home loan eligibility. Edelweiss considers all your fixed obligations like current EMIs into account while estimating your eligibility. Minimum FOIR required to be eligible for Edelweiss home loan is 0.65. Calculate your eligibility with Edelweiss home loan calculator and apply for eligible loan amount hassle free.

Edelweiss Home Loan for Women Eligibility

Edelweiss offers the same rates to women borrowers starting at 6.75% with similar eligibility criteria for home loan. In case of a joint home loan, the woman borrower also needs to be the co-owner of the property and should have a good credit history to get the joint home loan application passed for concessional rates.

How can I Check my EdelweissHome Loan Eligibility ?

To check Edelweiss home loan eligibility perform the following steps:-

  • Go to the Edelweiss website
  • Now navigate to the option Edelweiss home loan
  • To check eligibility criteria use a home loan eligibility calculator.
  • Fill the required details like loan amount required, salary, age etc.

Also you can contact the bank by calling on their customer care number .

Other Loan Calculators

FAQs

What is the criteria to get Edelweiss home loan?

The basic criteria to get a home loan from Edelweiss are as following:

Age21 - 60 years
Income ₹ 0
Income3 years for salaried, 5 years for self-employed
Credit score650 and above

How much home loan can I get on my salary from Edelweiss?

The amount for which you are eligible is calculated based on the FOIR and LTV. The higher your income, and the least is your fixed obligations (mostly ongoing EMIs), the higher will be your eligibility for a home loan.

What is the minimum salary to get home loan from Edelweiss?

The minimum salary required to avail home loan from Edelweiss is ₹ 0.for salaried borrowers. The income criteria for self employed professionals or businessmen may vary in Edelweiss.

Is Edelweiss good for home loan?

The lowest interest rate provided by Edelweiss is 10.50% which is a best rate in the market. There are no prepayment charges on floating rate based home loan. Hence, you can consider this as a good option for housing loan.

Does adding a co-applicant increase housing loan eligibility?

Yes, adding a co-applicant with an independent income source increases housing loan eligibility significantly. By doing so you will be able to get a higher loan amount and also both of you can save on taxes under Income Tax Act.

Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 10.50%. Cashback of up to ₹ 1,000.

    Apply Now
  • Personal Loan

    Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000 .

    Check Offers
  • Gold Loan

    Instant Gold Loan starting at 9.50% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 12.00%. Cashback of up to ₹ 1,000*.

    Apply Now
  • Business Loan

    Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

    Apply Now
  • Fixed Deposit

    AAA rated FDs with returns as high as 6.95%.

    Invest Now
Edelweiss Home Loan News - Jun 2021
  • 2017-02-10 : Edelweiss Financial registers 47 percent growth in its net profit in third quarter of FY17
    Edelweiss Financial has reported a growth of 47 percent in its net profit at Rs. 155 crore during the third quarter of FY17 as compared to Rs. 106 crore for the corresponding period a year ago. The housing finance company also registered a healthy growth of 18 percent in its total income at Rs. 1,609 crore during the quarter as compared to Rs. 1,361 crore a year ago.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
Loader
Please wait while your information is being processed...