Edelweiss Financial Services Home Loan Interest Rates

4.5

Edelweiss Financial Services home loans are designed for the self-employed and salaried segments as a financial solution to purchase, construct, repair and renovate homes. The interest rates charged by the bank are attractive, and the minimal fees make the loan affordable. There are no hidden costs, and a loan balance transfer facility is also available.

  • Home Loan offer for You

  • 10.5% - 10.9%

    Interest Rate (p.a.)
  • ₹5L - ₹5Cr

    Tenure(1 - 25 Years)
  • ₹2,149 - ₹2,169

    EMI Per Lakh
  • 10.5% - 10.9%

    Interest Rate (p.a.)
  • ₹5L - ₹5Cr

    Tenure(1 - 25 Years)
  • --

    Processing Fee

Compare Edelweiss Financial Services Home Loan Interest Rates with Other Lenders

It is always a good idea to explore the options available in the market to get acquainted with the prevailing interest rates. While Piramal Housing Finance home loan interest rates start from 11%, here is a list of some top banks offering home loans and their respective interest rates. 

  • Starting Interest Rate (p.a)
  • Processing Fee
  • Rating
  • Min. Loan Amount
  • 5 Lac
  • 20 Cr
Years
  • 5
  • 30
%
  • 6
  • 20

Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹10,00,000

Interest Payable

Total Amount Payable

Edelweiss Financial Services Home Loan Interest Rates 2024

Edelweiss is a housing finance company that offers attractive housing loans with a starting interest rate of 9.50%. Customers interested in the loan plan can access the full range of features and benefits available with the Edelweiss Financial Services Home Loan. The scheme is available for salaried and self-employed individuals looking to finance a new house, buy a plot, renovate an existing home, or construct a house from scratch. The interest rates will be offered based on the borrower’s credit score, repayment history, property value, etc. 

Edelweiss Financial Services Home Loan Highlights 

The Edelweiss Financial Services Home Loan is a lucrative loan choice for customers looking to finance their property purchases. The scheme comes with various features and benefits not limited to the attractive Edelweiss Financial Services home loan interest rates but also comes with a quality customer experience. Some of the key highlights of this loan scheme are as follows:

  • The loan can be utilised for the purchase and construction of a house, renovation of an existing house, purchase of a plot, loan against property facility, and balance transfer facilities. 
  • Customisable home loan facility 
  • Minimal document requirement
  • Loan sanctions are subject to the property valuation assessment and the applicant’s income. 
  • 50% to 90% loan-to-value ratio. 
  • Loans are available for salaried and self-employed professionals only.

Edelweiss Financial Services Home Interest Rates on Loan Schemes

Edelweiss Financial Services offers its housing loan facility to salaried and self-employed customers along with the eligible recipients of the PMAY scheme. Moreover, interest rates are customisable with respect to the customer’s financial background. Edelweiss Financial’s home loan interest rates for these categories range from 9.50% to 16.45%.

Edelweiss Financial Services Home Interest for Salaried and Self-Employed

As a primary eligibility criterion, Edelweiss Home Loans require the customers to belong to the category of salaried or self-employed professionals mandatorily. The Edelweiss Home Loan interest rates for the same are as follows:

Category Interest Rate
Salaried Customers  Minimum Interest Rate - 9.50%  Maximum Interest Rate - 16.45%  Mean Interest Rate - 11.80%
Self-Employed Customers  Minimum Interest Rate - 9.50%  Maximum Interest Rate - 16.45%  Mean Interest Rate - 11.80%
PMAY  6.50%

Edelweiss Financial Services Home Interest for Govt Employee

Government Employees are eligible for availing of the benefits of Edelweiss Housing Loan facility because they belong to a salaried class. The Edelweiss Home Loan interest rate for Government employees is as follows:

Quarters Interest Rates Applicable
First Quarter  Minimum Interest Rate - 10.00%  Maximum Interest Rate - 13.95%  Mean Interest Rate - 11.48%
Second Quarter Minimum Interest Rate - 9.50%  Maximum Interest Rate - 16.45%  Mean Interest Rate - 11.80%
Third Quarter Minimum Interest Rate - 9.50%  Maximum Interest Rate - 16.00%  Mean Interest Rate - 11.70%

Edelweiss Financial Services Bank Home Loan Interest Rate For Women

Edelweiss Financial Services offers home loans irrespective of gender category. This means that if any customer belongs to a salaried or a self-employed class, they are eligible for a housing loan. Moreover, the interest rates assigned are purely based on the security of financial background and property evaluation. The interest rates for Edelweiss Financial Services Bank Home Loan range from 9.50% to 16.45%. 

Edelweiss Financial Services Bank Home Loan Interest Rate For NRI

Non-resident Indian customers can benefit from the Edelweiss housing loan facilities without hassle. Moreover, NRIs can avail of the loan facility regardless of location. However, they will be required to prove their eligibility and should be willing to provide their financial statements so that the lender can assess their creditworthiness. The Edelweiss Home Loan interest rates for NRIs depend on their credit scores. Any NRI customer interested in financing their housing project can contact Edelweiss Financial Services directly.

Edelweiss Financial Services Home Loan Fees and Other Charges

Applicants applying for Edelweiss Financial Services home loan must pay certain charges, including processing fees and several penalties. These Edelweiss Financial Services home loan fees and charges are as detailed below:

Particulars Charges 
Loan Processing Fees 2% of the loan amount + taxes
Prepayment Charges 
  • 2% for non-individual borrowers on floating rate
  • 2% on remaining loan amount along with taxes on fixed-rate
Late Payment  24% per annum
Charges for Swaping Cheques INR 500 + Taxes per swap
Document Retrieval Charges INR 500 + Taxes
Cheque Bounce Penality  INR 500 + Taxes
Duplicate Statement  INR 500

How to Calculate Edelweiss Financial Services Home Loan Interest?

To calculate Edelweiss Financial Services home loan interest, you can use the following formula:

Interest = Loan amount x (Interest rate / 12) x (Number of months / 12)

Where,

  • The loan amount is the amount borrowed from Edelweiss Financial Services
  • Interest rate is the rate of interest offered by Edelweiss Financial Services for home loans, which can be found on their website or by contacting their customer support.
  • The number of months is the duration of the loan, which can also be found on their website or by contacting their customer support.

Example:

Suppose you borrow a loan amount of ₹20,00,000 from Edelweiss Financial Services at an interest rate of 9% per annum. The loan duration is 20 years.

Interest = 20,00,000 x (9 / 12) x (20 x 12) / 12

Interest = 20,00,000 x (0.75) x 240 / 12

Interest = 20,00,000 x 2

Interest = 40,00,000

Thus, the total interest you would pay to Edelweiss Financial Services for the home loan would be ₹40,00,000

Why are Edelweiss Financial Services Home Loan Interest Rates the Best for Customers?

There are several reasons why Edelweiss Financial Services Home Loan interest rates may be considered the best for customers:

  • Competitive rates: Edelweiss Financial Services offers home loan interest rates that are highly competitive, making them an attractive option for customers who are looking to buy a home. These rates are often lower than those offered by many other financial institutions, which can result in significant savings over the life of the loan.
  • Flexibility: Edelweiss Financial Services offers a range of home loan products with different features and repayment options. This allows customers to choose a loan that best meets their individual needs and financial situation.
  • Transparent fees: Edelweiss Financial Services is committed to transparency in its fee structure, ensuring that customers are fully aware of fees or charges associated with their home loan. This can help customers to budget effectively and avoid unexpected expenses.
  • Customer service: Edelweiss Financial Services has a reputation for providing excellent customer service, with a team of dedicated professionals who are available to assist customers at every stage of the home loan application process.
  • Quick processing: Edelweiss Financial Services uses advanced technology and streamlined processes to ensure that home loan applications are processed quickly and efficiently. This means customers can often get approved for a loan and receive funds quickly.

Overall, Edelweiss Financial Services Home Loan interest rates are among the best in the market, thanks to their competitive rates, flexible loan options, transparent fees, excellent customer service, and fast processing times.

Interest Rates for Existing Customers

Existing customers of Edelweiss Financial Services Bank can apply for a housing loan facility for various purposes, including building, construction, renovation, or property purchase. This home loan facility can be availed for an interest rate that depends on the customer's profile. The interest rate for Edelweiss Financial Services home loan ranges from 9.50% to 16.45%.

Factors that affect Edelweiss Financial Services Home Loan Interest Rate and EMI

The following factors can affect the interest rate and EMI of a home loan from Edelweiss Financial Services:

  • Loan amount: The higher the loan amount, the lower the interest rate and EMI.
  • Tenure: Longer the tenure, the lower the EMI but, the higher the interest rate.
  • Credit score: A higher credit score may lead to a lower interest rate.
  • Income: Higher income may lead to lower interest rates.
  • Property type: The type of property being purchased can also impact the interest rate.
  • Loan-to-value (LTV) ratio: The higher the LTV ratio, the higher the interest rate.
  • Market conditions: Interest rates can be impacted by changes in the broader economy and the monetary policy of the Reserve Bank of India (RBI).

It's important to note that interest rates and EMIs are subject to change and may vary based on the lender's policies and other factors.

Frequently Asked Questions (FAQs)

Does Edelweiss Financial Services provide a 90% home loan?

Yes, Edelweiss Financial Services provides home loans with the provision of 50% to 90% of the loan-to-value ratio depending on the customer’s profile. 

What is the EMI for a 30 lakhs home loan for 20 years?

Given that Edelweiss Financial Services’ home loan interest rate at an average is 11.45%, the EMI for INR 30 Lakhs for a tenure of 20 years will be INR 31,890. 

How can I reduce my Edelweiss Financial Services home loan interest rate?

To reduce your Edelweiss Financial Services home loan interest rate, you can consider opting for a balance transfer to another bank or financial institution offering a lower interest rate. You can also consider negotiating with the bank for a lower rate by providing proof of your creditworthiness and consistent payment history. Additionally, you can make prepayments on your loan, which can help reduce the interest burden on the loan. 

What is the average interest rate for home loans in Edelweiss Financial Services?

Edelweiss Financial Services are offering their home loans to eligible borrowers at a weighted average of 11.45% for the first quarter of the financial year 2023, 11.33% for the second quarter, and 11.52% for the third quarter.

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