Home Loan

We offer Variable Rate Home Loans and Fixed Rate Home Loans.
25-Year Loans
Our newly launched 25-Year Home Loans help purchase a property and repay in.
Customized loans to help you buy your dream home

Loan Amount Min: 10 Lacs Min: 10 Lacs
  Max: 10 Crs Max: 10 Crs
Max Loan to Value 80% of Market value 80% of Market value
  (includes Stamp duty, (includes Stamp duty,
  Registration etc) Registration etc)
Max EMI 60% of Monthly 100% of Business
Salary Income  
Max Tenure 25 years 20 years
Min Age 21 years 25 years
KYC Documents* Passport Size photo, Identity, Residence and
  Age Proof, Bank statement for last 6 months
Income Proof* Form 16 and Last 3 Last 2 years audited IT
  months' Salary slip returns and Balance
    sheetand profit and
    Loss statements
    certified by CA

Important Terms and Conditions (MITC) (for Individuals Housing Loan)
Major Terms and Conditions of the housing loan agreed to between:
Co applicant
Co applicant
(Hereinafter individually and /or collectively referred as the “Borrower”)
And Edelweiss Housing Finance Limited (EHFL) are as under:
1. Loan
The loan amount, rate of interest, tenure etc. are based on various factors such as eligibility, repayment capacity, various risks, track record, etc. and hence shall vary for each individual Housing loan. Therefore, for information on Loan Amount sanctioned etc., Borrower is requested to refer to the Housing Loan sanction letter provided with this MITC documents.
Detailed terms and conditions on Interest Rate & Loan Account are mentioned in Article 6 of the Loan Agreement.

2. Fee and Other Charges
The details of applicable fee and other charges are mentioned in the Statement of Charges enclosed as Annexure to MITC documents and also updated on our website https://edelweissretailfin.com/ChargesList.aspx
All charges, Services and other taxes, levies etc. applicable as per the prevailing rate shall be charged over and above these charges. The charges are as on date and subject to change from time to time. The Company shall update the revised version on its website from time to time.
Detailed terms and conditions on the Fees, Charges, Cost and Claims are mentioned in the Article 3 of Loan Agreement.

3. Security for the Loan
The Housing Loan shall be secured by Equitable/Registered mortgage/extension of mortgage of property for which the loan is to be availed. The details of security (Mortgage), Guarantee and any other security are mentioned in the Housing Loan sanction letter provided with this MITC document.
The EHFL, in its sole discretion, shall have the right to decide the type, manner and the timing of creation of security/mortgage and/or any other security to be created by the Borrower for the Housing Loan and all other amounts as aforesaid.

4. Insurance of the property / Borrowers
The Borrower shall insure and keep insured the Property against fire and other customary risks and hazards, for a value as may be required by the EHFL, with an insurance company acceptable to EHFL. EHFL shall be made the sole beneficiary under the insurance policy.
The details of the requirements and features of the insurance policy, if any, to be obtained for the property-ies/ borrowers are mentioned in the Housing Loan sanction letter provided with the MITC documents.

5. Conditions for Disbursement of the Loan
EHFL shall not disburse the Housing loan to the Borrower unless the conditions mentioned in the Housing Loan sanction letter and Article 5 of Loan Agreement are complied with, to the satisfaction and sole discretion of EHFL. A few of which are as given below:
The Borrower must fulfill the EHFL’s requirement of creditworthiness.
Execution of loan agreement and such other ancillary documents
Submission of post dated cheqes/ECS etc. towards repayment of installments
Creation of security in favour of EHFL
Utilisation of disbursement should be towards acquisition/construction of property or as per the end use specified
No event of default shall have happened on the Loan. The Event of Defaults are mentioned in Article 10 of the Loan Agreement.
No circumstances shall have occurred, which in the opinion of EHFL may make it impossible for the Borrower to fulfill the obligations as per Loan Agreement and other standard documents executed by the Borrower for availing the loan.

6. Repayment of the Loan and Interest
The information on interest rate, PEMI /EMI and No. of installment, tenure of loan are mentioned in the Housing Loan sanction letter provided with the MITC document. Any change in variable rate of interest /EMI shall be informed to the borrower as per the EHFL’s Fair Practice Code i.e., by way of email / sms / letter, etc. at the contact details available with the EHFL and last updated by the Borrower.
The Housing loans are required to be repaid in monthly installment on or before the due date as mentioned in the Housing Loan sanction Letter and /or Loan agreement. The repayment of Housing Loan EMI is mandated through ECS/post dated cheques in favour of EHFL.
The Borrower must ensure:
That sufficient fund is available in the designated Bank account of Borrower to be debited.
Not to cancel/put stop payment on the cheques/instruments given towards the repayment of Housing Loan EMI. Also, not to close or change the account upon which repayment instrument is drawn (unless he/she makes alternate arrangement for the repayment as agreeable to EHFL).
To pay the installment on or before the relevant due date, if not, the outstanding loan amount and all accrued interest would become immediately due and payable. The Borrower would also be liable to pay the fees as set out in the Statement of Charges.
Detailed terms and conditions of repayment of loan are mentioned in Article 7 of the Loan Agreement.

7. Brief procedure to be followed for Recovery of Overdues
In the event of default (i.e. if the amount outstanding in the loan account of the Borrower is not paid by the due date or in case of breach of any clause of the agreement), the Borrower would be sent reminder from time to time for payment of any outstanding on his loan account, by post, fax, telephone, e-mail, sms and/or through third parties appointed for collection purposes to remind, followup and collect dues. The Collection methodology includes the following:
a.Tele- Calling and Pick up : It involves contacting the Borrower over the phone and making them aware about the missed due date and requesting to pay the arrears at the earliest.
b. Field Collection: It involves meeting the Borrower and collecting the payment of the amount due. The activity shall be carried out through employees of EHFL or authorized representatives. The payment would be collected either in cash or in the form of a cheque/DD and receipt will be issued to Borrower.
c. Legal action shall be taken based on circumstances of each delinquent account, as per the policy of EHFL and pursuant to the provision of applicable laws. Hence, EHFL shall use a judicious mix of field visit, written communication and legal action to ensure proper and effective coverage for the different category of delinquent account.

Get Enquiry Here

9594111161 / 9967111161
504, 5th Floor Suchita Business Park,
Raigad Chowk, Station Road, Ghatkopar (E), Mumbai 400 077

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