FAQs

General

We are present in the following 82 locations:

West & Central : Ahmedabad, Amravati, Ankleshwar, Aurangabad, Bhiwandi, Bhopal, Bhuj, Himatnagar, Indore, Jabalpur, Jamnagar, Jamshedpur, Junagadh, Kalyan, Kolhapur, Mumbai, Nagpur, Nashik, Panvel, Pune, Raipur, Rajkot, Ranchi, Ratlam, Satara, Solapur, Surat, Surendranagar, Ujjain, Vadodara, Vapi, Vasai

 

North & East : Ajmer, Ambala, Bathinda, Bhubneshwar, Chandigarh, Dausa, Dehradun, Delhi and NCR, Jaipur, Jalandhar, Jodhpur, Kanpur, Karnal, Kolkata, Kota, Ludhiana, Panipat, Patiala, Rishikesh, Roorkee, Sangrur, Solan, Sri Ganga Nagar, Udaipur, Yamunanagar

 

South : Belgaum, Bellary, Bengaluru, Bijapur, Chennai, Cochin, Coimbatore, Eluru, Guntur, Hubballi, Hyderabad, Kakinada, Kalaburagi, Karimnagar, Kolar, Kurnool, Mangaluru, Mysuru, Nellore, Raichur, Shimoga, Tirupati, Tumkur, Vijayawada, Visakhapatnam

Sole Proprietorship Firms, Partnership Firms and closely held Private Limited Companies can avail this product provided they have a good credit history.

  • Financials & ITR
    •  Business Loan – 2 Years
    •  Equipment & Secured Loan – 3 Years
  •  Primary bank statement for last 6 months
  •  KYC documents of director(s)/partner(s)/ firm
  •  Existing Facility/ Loan Sanction Letters
  •  Machinery Invoice (if applicable)

SMERR is SME Reference Rate which is used as a benchmark rates for all SME Lending Loan products.

Current SMERR is 20.50%

SME Business Loans

We offer only fixed rate of interest under this product.

We offer a flexible tenure of upto 48 months for SME Business Loans.

5-7 working days post receipt of complete and correct documentation required for processing the loan

SME Equipment Loans

Standard equipments /machineries across industries except those used for construction, infrastructure, mining, agriculture/farm and office fit outs.

Yes. We fund for both purchase of new equipments and refinancing of existing equipments

Machinery should be less than 12 months old.

No there is no moratorium period offered under SME Equipment Loans.

7-10 working days post receipt of complete and correct documentation required for processing the loan.

SME Secured Loan

  • Fresh loans against unencumbered property / ties to be used for business purposes.
  • Balance transfer and top-up against existing encumbered properties.
  • Purchase of commercial property /ties.

Residential, commercial and industrial properties can be considered as collaterals.

No we accept only completed properties

No there is no moratorium period offered under SME Secured Loans.

Edelweiss SME lending should have first and exclusive charge on the property offered as collateral.

7-10 working days post receipt of complete and correct documentation required for processing the loan.

You can borrow up to 70% of the market value of your property subject to income eligibility

We have products under which we can offer you a loan: income based and surrogate income based. A thorough understanding of your business will help us determine your loan eligibility in case of surrogate income based

The minimum tenure of your loan against property from Edelweiss is 3 years and maximum tenure is 15 years. The term of loan will be restricted to the retirement age of 60 years in case of salaried customers and 65 years in case of self employed customers

Yes there needs to be a co-applicant to the loan. All co-owners of the property being mortgaged need to be co-applicants. For a sole property owner, one adult member in the immediate family needs to be a co-applicant. In case the property is owned by a partnership firm or a company, partners or directors / promoters need to be co-applicants

The rate of interest varies depending upon your loan amount, property type, income etc

Interest rates can be fixed, variable or part fixed and part variable. We offer variable rate loan against property which is subject to change depending on the economic conditions prevalent in the market during the tenure of the loan

Yes, there is an option of prepayment of entire loan amount (foreclosure) after 6 months from the date of final disbursement. Foreclosure charge will be levied as applicable

Foreclosure charges vary from 5% to 3% depending on the tenure of the loan. No foreclosure is allowed within the first 6 months from the date of final disbursement

Part prepayments can be made after 6 months from the date of final disbursement. This payment can be made up to a maximum of 25% of the balance outstanding against your loan amount at the time of payment. All part prepayments made 12 months prior to the foreclosure of the loan will be charged with the applicable foreclosure rate at the time of foreclosure

You can repay the loan by way of Electronic Clearing System (ECS)

Before final disbursement, you pay interest on the portion of the loan disbursed. This interest is called Pre-EMI. Pre-EMI interest is payable every month up to the date of commencement of EMI

An equated monthly instalment or EMI as it is called is the amount paid by the borrower to the lender (Edelweiss) at a specified date every calendar month for the loan taken. The EMI remains constant over the tenure of the loan. This consists of both principal and interest so that the loan is paid off in full in a specified number of years.

Edelweiss Financial Services Limited 2016

Edelweiss Retail Finance Limited (ERFL) | CIN: U67120MH1997PLC285490

The Company is having valid Certificate of Registration (CoR) No. B-13.02149 dated January 4,2017 issued by Reserve Bank of India (RBI) under Reserve Bank of India Act, 1934. However, RBI does not accept any responsibility or guarantee about the present position as to the financial soundness of Company or correctness of any of the statements or representation made or opinion expressed by the Company.

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