Edelweiss Salaried Personal Loan
Max Tenure
nil*
Best Rate
23.0%
Processing Fee
2%
Currently not available! for similar products
About Edelweiss Salaried Personal Loan
A Personal Loan is a convenient way to meet your emergency cash requirements. These could be any unplanned expenses like a medical emergency or planned expenses like higher studies, home renovation, marriage, vacation planning. A personal loan is an unsecured loan and hence doesn’t require any security or collateral. It is solely based on your income. It is also processed quickly allowing you to peruse the funds at the earliest. Due to its unsecured nature and other conveniences, personal loans are usually charged a high rate of interest.
Edelweiss Retail Finance offers ‘Salaried Personal Loan’ to salaried individuals. Individuals can borrow up to Rs.20 lakhs personal loan based on their eligibility criteria.
Why should you opt for Edelweiss Salaried Personal Loan?
- Get up to Rs.20 lakhs personal loan to meet your needs
- Repay comfortably over a tenure of 4 years
- Transparent process with no hidden charges
- Balance transfer your existing personal loan from other lenders for free
- No lock-in period
- 90 seconds eligibility check
- Premium Service Experience
Benefits and features of Edelweiss Salaried Personal Loan
Free Balance Transfer – You can now transfer your existing personal loan from other lenders to Edelweiss at no additional cost. This helps you to get better interest rates for your existing debt.
No Hidden Charges – Edelweiss Personal Loans follow a very transparent process. They do not have any hidden charges and hence your interest is the actual interest you pay without any of the additional costs charged by other lenders.
90 Seconds Eligibility Check – The Edelweiss website allows you to check your personal loan eligibility in just 90 seconds.
Premium Service Experience – With Edelweiss, you get a dedicated relationship manager to help you through the entire application process along with document submission.
High Loan Amount – Based on your eligibility, you can get up to Rs.20 lakhs loan amount for your needs.
Competitive Interest Rates – Again, based on your eligibility factors, you can get an interest rate between 15% - 31.50%
Comfortable Repayments – Get up to 4 years to repay the loan. You can comfortably plan your repayments to manage the pressure on your monthly cash flow.
What are the eligibility criteria to apply for Edelweiss Salaried Personal Loan?
As the name suggests, this loan is primarily lent to salaried individuals only. Therefore, you should be a salaried individual with these conditions:
- Minimum age of 21 years
- Minimum net monthly income of Rs. 18,000
What is the process to apply for Edelweiss Salaried Personal Loan?
You can apply for Edelweiss Salaried Personal Loan on the official website of Edelweiss Retail Finance.
- Visit the Edelweiss website.
- Navigate to the top menu bar, click on the option ‘Apply Online’.
- On the next page, select ‘Personal Lending’ from the drop down box.
- You will be required to fill in your personal details and employment details to check your eligibility.
- After that, you can click on Apply Now to submit your application.
- An authorized personnel from Edelweiss will contact you to complete the application process.
What are the documents required to apply for Edelweiss Salaried Personal Loan?
Identity proof
- Copy of passport
- voter ID card
- driving license
- Aadhaar
Address proof
- copy of passport
- voter ID card
- driving license
- Aadhaar
Last Six Months’ Bank Statement
Last Three Months’ Salary Slips
Passport Size Photograph
Interest Rate & Other Charges
Particulars | Charges or Fees |
Rate of Interest | 15% - 31.50% |
Processing Fees | Up to 2% of the loan amount + applicable taxes |
Charge for Late payment | 24% per annum |
Cheque Swap Charge | Upto Rs 500/- Per Swap |
Document Retrieval Charge | Upto Rs 500 plus applicable taxes |
Cheque Bounce Charge | Upto Rs 500 + applicable taxes per bounce |
Foreclosure Charge/Part- Prepayment Charges | 4% of the principal amount outstanding + applicable taxes |
Duplicate Statement Issuance Charge | Upto Rs. 500 plus applicable taxes per document |
Cheque Pick up Charge | Upto Rs. 150 plus applicable taxes per pick up |
Stamp Duty & other statutory Charges | As per applicable State laws |
Conversion Fee | Upto 1.5% of the Loan outstanding plus applicable taxes will be charged for reduction in the Interest rate of existing Loans |
About Edelweiss Retail Finance
Edelweiss provides a wide variety of retail credit products tailored to satisfy a variety of lending requirements with a short delivery period. The product line includes, loan against property, construction finance, lease rental discounting, SME Finance, equipment finance amongst others. Edelweiss is also present in rural India offering microcredit as part of their initiative for financial inclusion.
Edelweiss Retail Finance has a broad regional footprint and the potential to address the financial needs of a number of customers, including self-employed loans. In the SME market, Edelweiss has introduced loan products that consider the needs of companies and customise their service to cater a vital part of the SME environment that is key to optimal health.
Edelweiss Salaried Personal Loan FAQs
1. What is the minimum and maximum loan amount I can avail under Edelweiss Salaried Personal Loan?
A minimum loan of Rs.1 lakh and a maximum of Rs.10 lakhs can be availed. The total amount of loan that you will be able to borrow will vary depending on your income, your repayment capacity, employment status and other factors.
2. Can self-employed professionals apply for Edelweiss Salaried Personal Loan?
No, this loan is specifically designed for salaried individuals. Self-employed individuals can seek out other personal lending options like SME Loan.
3. Is there an option to pre-close Edelweiss Salaried Personal Loan?
Yes, you can pre-close Edelweiss Salaried Personal Loan. However, you will have to bear the pre-closure charges of 4% of the principal amount outstanding plus applicable taxes.
4. What is the rate of interest I will get for my Edelweiss Salaried Personal Loan?
Rate of interest on any loan product is based on various eligibility criteria like your income, repayment capability, employment status, age, existing liabilities and credit score. Edelweiss Salaried Personal Loan comes with interest rates ranging between 15% - 31.5%. The interest rate for your loan will be communicated to you during the processing.
5. Can I get an Edelweiss Salaried Personal Loan if I get my salary in cash every month?
No, you cannot get the Edelweiss Salaried Personal Loan if you get your salary in cash. You should be getting your salary by cheque or direct transfer to your salary account to be able to apply for this loan.