Edelweiss Loan Against Property Interest Rate Calculator - Mar 2017

Edelweiss Loan Against Property Interest Rates

Last Updated 25th Mar 2017
Interest Rate 12.00% - 12.75%
Check Special 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 Online @9.50%*
 Salaried   Self Employed - Professional   Self Employed - Business 

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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 18 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 18 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 18 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
Estimated eligibility online by using Eligibility Calculator.

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
Past trends of PLR of Edelweiss
Date PLR
08th Feb 17: 0% repo none by RBI
07th Dec 16: 0% repo none by RBI
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
29th Sep 15: 0.5% repo cut by RBI
02nd Jun 15: 0.25% repo cut by RBI
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
29th Oct 13: 0.25% repo hike by RBI
20th Sep 13: 0.25% repo hike by RBI
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
29th Jan 13: 0.25% repo cut by RBI
17th Apr 12: 0.5% repo cut by RBI
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
26th Jul 11: 0.5% repo hike by RBI
16th Jun 11: 0.25% repo hike by RBI
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
25th Jan 11: 0.25% repo hike by RBI
02nd Nov 10: 0.25% repo hike by RBI
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI

Edelweiss PLR Vs. RBI Repo Rate Trend

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 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
Edelweiss Loan Against Property News - Mar 2017
17th Mar 17 Ahead of merger, loan processing at associate banks may get delayed
State Bank of India is in process of completion of merger with its five associate banks on 1st April, 2017. As per bank sources, loan processing and banking services at associate banks may get disrupted during end of March, 2017. SBI has notified the associate banks to complete disbursements of existing loans across various segments including loan against property, home loan and personal loans by 25th March, 2017.
17th Mar 17 Developers turn to build value homes to beat the slowdown in real estate
Realty developers are rapidly shifting their focus from building luxury housing projects to affordable housing projects in order maintain their sales growth and reduce the impact of declining sales volume in other segments of the property market. As per a latest Cushman and Wakefield report, the shift has been witnessed after the government announced favourable guidelines for developers building affordable house units. Some of these guidelines include easing access of loans from banks such as SBI, PNB and HDFC Bank, grant of infrastructural status to affordable housing and reintroduction of RERA Act.
17th Mar 17 Affordable housing emerges as the focus area for real estate developers
Government of India, in Union Budget 2017 announced various measures to encourage real estate developers operating in the Affordable Housing segment. Some of these measures include grant of infrastructure status to affordable housing, reintroduction of Real Estate Regulations Act and improving availability of housing loans from banks. As a result of these announcements, developers are shifting their focus from building luxury house units to affordable house units to drive sales and mitigate the impact of the overall slowdown in the property market.
11th Mar 17 Syndicate Bank to auction land of GVK group to recover outstanding loans
Syndicate Bank has announced the auction of land owned by GVK Group in GVK Perambular SEZ Pvt Ltd in Tamil Nadu as a part of recovery of its outstanding loans of Rs. 175 crore. The bank has also issued NOC to HDFC Ltd for ceding on the mortgaged property. HDFC Ltd has also disbursed loans of Rs. 1,075 crore to GVK Group.
10th Mar 17 PNB plans to sell bad loans of Rs. 1,800 crore to ARC in March, 2017
Punjab National Bank has identified non- performing loan accounts of Rs. 1,800 across various loan segments such as property loan, personal loan and business loans and is planning to sell these assets to Asset Reconstruction Companies (ARCs) in March 2017. The bank had recovered Rs. 1,600 crore by selling bad debts to ARCs during 2016- 17. PNB has also managed to recover dues of Rs. 937 crore in cash after its asset quality management exercise during the third quarter of FY17.
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