No, you don’t have to provide any additional collateral to get an Edelweiss Home Loan.
The property you are going to buy using the loan amount will serve as collateral; you need to deposit the original sale deed and registration documents with the bank until the loan is fully repaid.
Edelweiss home loan is secured by a first mortgage on the property to be financed, often in the form of title deeds and/or additional collateral security if EHFL considers it necessary. You have to ensure that the title to the property is clear and does not have any encumbrances.
Edelweiss may ask you to submit collateral in case the property is under construction. You could provide collateral in the form of Life Insurance policies, in your name, assigned to EHFL. The surrender value of the life insurance policy should be able to repay the loan amount in full, in case of any contingency. You could also seek credible guarantors to vouch for you. You could also pledge government bonds and securities, or other tangible assets as collateral.
Additional Read: How to determine your Edelweiss Home Loan Eligibility?
Note: Home loans are secured loans where the purchased property acts as collateral. However, if the lender finds that you are a high-risk candidate and wants to ensure repayment by asking for collateral, you could pledge your assets to process the loan quickly. Collaterals also help you with your loan eligibility.