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Edelweiss Loan Against Property Interest Rate Calculator - Apr 2017

Last Updated 10th Feb 2017

Edelweiss Loan Against Property Interest Rates

Interest Rate 12.00% - 12.75%
Check Best Offers
Lowest EMI Rs. 1,200 per lakh
Max Tenure 15 years
Processing Fee Upto 1.00%
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans to individuals
Age Min 21 and Max 60 years for Salaried
Min 25 and Max 65 years for Self Employed
Apply Loan Against Property @ 9.25%*
Rs.
Rs.
+91

Edelweiss Loan Against Property

Edelweiss offers Loan Against Property to the customers if they need to expand their business or want money for personal use. The loan is given upto 60% of the market’s value for tenure of 15 years.

Loan Against Property Edelweiss

Loan Against Property interest rates offered by Edelweiss depends upon PLR

  • Floating rates changes with a single change in Edelweiss PLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates

Edelweiss offers Property Loan based on PLR which is currently 17.50%

Edelweiss mortgage loan interest rate depends upon
  • Loan amount: Edelweiss mortgage loan rate depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • Company where you work: Edelweiss has a list of companies to which they lend Loan Against Property. Interest rate will be less if your company is listed
  • Your Salary: Income helps you in identifying your rate of interest. Edelweiss interest rate varies with your monthly income. Higher the income, less will the rate of interest

Loan Against Property Charges

Foreclosure Charges - These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Edelweiss allows prepayment of loan against property with 6-12 months-5%, 12-36 months-4%, after 36 months-3% prepayment charges

Processing Fee - Edelweiss asks for a processing fee of 1.00% of loan amount with applicable service tax

Edelweiss Loan Against Property EMI Calculator

Loan Against Property EMI of Edelweiss is a fixed amount that you pay each month towards the repayment of your Loan till the end of tenure

  • Edelweiss Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on Loan Against Property
  • You can plan your loan amount according to your monthly repayment capacity because higher the loan amount, higher will be the EMI
  • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as higher tenure reduces your EMI
What are the benefits of calculating Edelweiss Loan Against Property EMI?
  • Edelweiss Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest
  • Edelweiss EMI calculator for Loan Against Property helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

Edelweiss Loan Against Property Eligibility Calculator

Loan Against Property eligibility criteria Edelweiss

Eligibility of Loan Against Property in Edelweiss relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are

  • Age: Edelweiss offers loan against property for a maximum tenure of 15 years if the borrower’s age does not exceed above 60 years for salaried and 65 years if you are self employed. Apply for loan at smaller age, higher will be the chances of loan approval
  • Value of the property: Edelweiss decides your loan amount based on the market value of the property which you place as your collateral for the loan. Edelweiss lends less than the market value of the property. As per RBI guidelines, the borrower also has to show some contribution. Ratio of loan amount to value of home is called Loan to Value (LTV) ratio. Edelweiss gives maximum LTV of 60% for property loans depending upon market value of the property
  • Repayment capacity of the borrower: Your eligibility to take loan against property depends upon the maximum EMI that you can pay. Edelweiss checks your past CIBIL history, repayment record of credit cards and existing loans that can impact your loan against property eligibility. If you have any other loan running whose EMI you are paying currently, then you are supposed to close your loan to get higher loan against property eligibility. Edelweiss does not specify any particular CIBIL score for being eligible for a property loan. However, it is observed that a score of 700 and above is desirable
    To reduce your burden of higher EMIs, Edelweiss gives you a maximum tenure of 15 years for a maximum loan amount of Rs.50,000,000 with a minimum spread of % over PLR. Opt for a loan tenure that suits you and higher the loan tenure, higher will be loan amount eligibility
  • Income: Loan against property are mostly taken by the people who are self employed in order to expand their business. However, in order to increase the loan amount you may club the income of family members like your spouse, parents, children and siblings

Edelweiss Floating Rate Loan Against Property

Edelweiss Loan Against Property Floating
Upto Rs. 2,500,000 - 12.00%
Rs. 2,500,001 - 7,500,000 - 12.00%
Rs. 7,500,001 - 30,000,000 - 12.00%
Above Rs. 30,000,000 - 12.00% linked to PLR

Edelweiss Loan Against Property Top up, Transfer

Transfer of Loan Against Property from another bank to Edelweiss?

Edelweiss offers loan against property balance transfer from another bank. This is subject to your meeting other eligibility criteria of Edelweiss
You can avail additional top-up loan against property from SBI, subject to your eligibility

Loan Against Property Edelweiss documents required

Loan Against Property for Salaried employee Edelweiss documents required

  • Filled up loan application form
  • 2 Passport Size Photo
  • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
  • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
  • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

Loan Against Property for Self-Employed Edelweiss documents required

  • Filled up loan application form
  • 2 Passport Size Photo
  • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
  • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
  • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

Property documents for Loan Against Property from Edelweiss

  • Registered Sale Deed/ Conveyance/ Lease Deed
  • Past Sale Deeds Chain (each transaction in respect of this property since first allotment
  • Latest House Tax Return/ Receipt
  • Approved Building Plan from Municipal Corporation

Frequently Asked Questions

What are the five things to check before applying for loan against property in Edelweiss ?
  • Property on which you intend to take loan is not a vacant land, has an approved map plan and is in municipal area. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
  • Your existing EMI’s on all loans and credit cards (from Edelweiss and other banks) are no more than 60 - 70% of your net monthly income
  • You have not defaulted on loans or credit card dues to Edelweiss and other banks and all EMI's have been paid. Note that Edelweiss can see record or status of your EMI defaults to all banks and NBFC’s in India and not just to Edelweiss in your CIBIL report. Estimate your CIBIL score for free by using CIBIL score estimate calculator
  • If you are salaried, ensure that you attach your recent salary slips, bank statements and last 3 years' Form 16 with the loan applicantion
  • If you are self employed in your own business or practice, your business must have been in existence for at least three years and last three income tax returns with audited financials must be available
Will Edelweiss mortgage loan interest rate remain fixed or will it change in future?
  • Floating interest rate on Edelweiss loan against property is linked to its PLR, which is currently 17.50%. So, when Edelweiss offers a loan against property at 12.00%, it applies a 5.5% discount to its PLR to arrive at this rate
  • In case the interest rates in the market move up by 0.50%, Edelweiss may increase its PLR by 0.50% to 18%, thereby increasing the applicable rate for both old customers and new customers to 12.5%
  • In case the interest rates in the market trend down by 0.50%, it may do one of the following. It may choose to reduce the PLR by 0.50% from 17.50% to 17%, thereby reducing the applicable interest rate for both new and old customers to 11.5%. Alternatively, it may choose to keep the PLR unchanged at 17.50% and increase the discount for new customers to 6% instead of 5.5% for old customers. So, the old customers will continue to pay the old interest of 12.00% while the new customers will get loan against property at 11.5%. The decision whether to pass on the benefit on lower rates to both new and old customers or only to new customers is that of the lender and cannot be predicted in case of PLR benchmarked loans
  • It has been observed that customers often complain that applicable rate of interest on PLR benchmarked loans tends to go up in line with market rates but rarely goes down when rates go down. However, since there is no prepayment or foreclosure charge on floating rate loan against property, customers may choose to transfer the loan to a new lender and thus save interest cost. MyLoanCare has helped customers save Rs. 98556874 so far by refinancing their loans at lower rates. Base rate benchmarked loans offer a more transparent mechanism for transmission of interest rates and appear to be more favorable option for the borrowers
  • Current PLR of Edelweiss, its past trend and comparison with RBI repo rate are given here for your reference
Are prepayment or foreclosure charges applicable on Edelweiss loan against property?
    You can prepay loan against property (LAP) without any penalty or charges in case:
  • Your loan is at a floating rate of interest and not at a fixed rate. Almost all loans against property are at floating rates and it is unlikely that yours is at a fixed rate of interest
  • The loan is in the name of one or more individual borrowers and none of the applicants and co-applicants is a business entity like a company or a firm or partnership or AOP

For loans from banks and NBFC's, refer to RBI circulars RBI/ 2013-14/ 582/ DBOD. Dir. BC. No. 110 /13.03.00/ 2013-14 dated May 7, 2014 and RBI/ 2014-15/121/ DNBS(PD). CC. No. 399/ 03.10.42/ 2014-15 dated July 14, 2014 for more details.

For loans from Housing Finance Companies, refer to NHB circulars NHB(ND)-DRS-Policy-Circular-63-14-15 dated Aug 14, 2014 and NHB-ND-DRS-Policy-Circular-No-66-2014-15 dated Sep 03, 2014 for more details.

Please contact myloancare at 0124 426 4004 or care@myloancare.in in case you need any assistance or clarification on this subject.

Edelweiss Loan Against Property in India

Edelweiss Loan Against Property Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 1800-102-3335, homeedelweissfin [dot] com
Ahmedabad 1800-102-3335, homeedelweissfin [dot] com
Ambala 1800-102-3335, homeedelweissfin [dot] com
Anand 1800-102-3335, homeedelweissfin [dot] com
Aurangabad 1800-102-3335, homeedelweissfin [dot] com
Bangalore 1800-102-3335, homeedelweissfin [dot] com
Bhilai 1800-102-3335, homeedelweissfin [dot] com
Bhilwara 1800-102-3335, homeedelweissfin [dot] com
Bhiwadi 1800-102-3335, homeedelweissfin [dot] com
Bhopal 1800-102-3335, homeedelweissfin [dot] com
Bhubaneswar Cuttack 1800-102-3335, homeedelweissfin [dot] com
Bikaner 1800-102-3335, homeedelweissfin [dot] com
Chandigarh 1800-102-3335, homeedelweissfin [dot] com
Chennai 1800-102-3335, homeedelweissfin [dot] com
Cochin 1800-102-3335, homeedelweissfin [dot] com
Coimbatore 1800-102-3335, homeedelweissfin [dot] com
Dehradun 1800-102-3335, homeedelweissfin [dot] com
Delhi 1800-102-3335, homeedelweissfin [dot] com
Durg 1800-102-3335, homeedelweissfin [dot] com
Faridabad 1800-102-3335, homeedelweissfin [dot] com
Gandhinagar 1800-102-3335, homeedelweissfin [dot] com
Ghaziabad 1800-102-3335, homeedelweissfin [dot] com
Goa 1800-102-3335, homeedelweissfin [dot] com
Greater Noida 1800-102-3335, homeedelweissfin [dot] com
Gurgaon 1800-102-3335, homeedelweissfin [dot] com
Guwahati 1800-102-3335, homeedelweissfin [dot] com
Gwalior 1800-102-3335, homeedelweissfin [dot] com
Hyderabad 1800-102-3335, homeedelweissfin [dot] com
Indore 1800-102-3335, homeedelweissfin [dot] com
Jabalpur 1800-102-3335, homeedelweissfin [dot] com
Jaipur 1800-102-3335, homeedelweissfin [dot] com
Jalandhar 1800-102-3335, homeedelweissfin [dot] com
Jodhpur 1800-102-3335, homeedelweissfin [dot] com
Kanpur 1800-102-3335, homeedelweissfin [dot] com
Karnal 1800-102-3335, homeedelweissfin [dot] com
Kolhapur 1800-102-3335, homeedelweissfin [dot] com
Kolkata 1800-102-3335, homeedelweissfin [dot] com
Kota 1800-102-3335, homeedelweissfin [dot] com
Kozhikode 1800-102-3335, homeedelweissfin [dot] com
Lucknow 1800-102-3335, homeedelweissfin [dot] com
Ludhiana 1800-102-3335, homeedelweissfin [dot] com
Madurai 1800-102-3335, homeedelweissfin [dot] com
Meerut 1800-102-3335, homeedelweissfin [dot] com
Mehsana 1800-102-3335, homeedelweissfin [dot] com
Mohali Sas Nagar 1800-102-3335, homeedelweissfin [dot] com
Mumbai 1800-102-3335, homeedelweissfin [dot] com
Mussoorie 1800-102-3335, homeedelweissfin [dot] com
Nagpur 1800-102-3335, homeedelweissfin [dot] com
Nashik 1800-102-3335, homeedelweissfin [dot] com
Noida 1800-102-3335, homeedelweissfin [dot] com
Noida Extn 1800-102-3335, homeedelweissfin [dot] com
Panipat 1800-102-3335, homeedelweissfin [dot] com
Patna 1800-102-3335, homeedelweissfin [dot] com
Pondicherry 1800-102-3335, homeedelweissfin [dot] com
Pune 1800-102-3335, homeedelweissfin [dot] com
Raipur 1800-102-3335, homeedelweissfin [dot] com
Rajkot 1800-102-3335, homeedelweissfin [dot] com
Ranchi 1800-102-3335, homeedelweissfin [dot] com
Rohtak 1800-102-3335, homeedelweissfin [dot] com
Roorkee 1800-102-3335, homeedelweissfin [dot] com
Salem 1800-102-3335, homeedelweissfin [dot] com
Shimla 1800-102-3335, homeedelweissfin [dot] com
Sonepat 1800-102-3335, homeedelweissfin [dot] com
Surat 1800-102-3335, homeedelweissfin [dot] com
Trichy 1800-102-3335, homeedelweissfin [dot] com
Udaipur 1800-102-3335, homeedelweissfin [dot] com
Vadodara 1800-102-3335, homeedelweissfin [dot] com
Varanasi 1800-102-3335, homeedelweissfin [dot] com
Vijaywada 1800-102-3335, homeedelweissfin [dot] com
Vizag 1800-102-3335, homeedelweissfin [dot] com
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Edelweiss Loan Against Property News - Apr 2017
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. MyLoanCare is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not undertake any liability with respect to the correctness of the content, information and calculations. Information is subject to change without notice. By submitting your query or using any tools or calculators, you authorize MyLoanCare to share your information with lender(s), consent for such lender(s) to access your credit information report and contact you regarding your query overriding your number being in National Do Not Call Registry. This is a free service and no charges are payable by the borrower to MyLoanCare. The Company may receive remuneration from lenders for services provided to them.