Pre-EMI consists of only Home Loan Interest on the disbursed loan amount and is payable monthly till commencement of EMI. In cases of partial disbursement customer pays Pre-EMI until full Home Loan disbursement.

For Home Loan with Nido Home Finance Limited., EMI starts paying the EMI from the month following the month in which the Home Loan amount was fully disbursed.

The Home Loan Interest Rate varies depending on the type and tenure of the Home Loan. We offer 3 types of rate of interest for the loans

• Fixed rate of interest for the tenure of the loan
• Floating rate of interest for the tenure of the loan.
• Partially fixed and partially floating rate of interest for the tenure of the loan

Monthly Reducing balance is the principal component of the EMI that is reduced from the outstanding Home Loan amount every month. The interest is charged on the outstanding Home Loan amount.

An amortization schedule is a tabular representation of monthly instalments and reduction in outstanding Home Loan amount during the tenure of the Home Loan.

Nido provides loans for:

Construction/Extension/Improvement of House
Purchase of House/Flat property from a builder
Purchase of House/Flat property in resale
Transfer of Outstanding Home Loan from other financiers
Loan Against Property(LAP)

To avail a Housing Loan from Nido, you must be

A Resident Indian
Above 21 years at the commencement of the Home Loan
Below 65 retirement age at the time of maturity

Your Home Loan eligibility will be determined by Nido on the basis of factors such as income, age, qualifications, number of dependants, spouse’s income, assets, liabilities, stability and continuity of occupation and savings history to ensure easy repayment for you in the future. The Home Loan eligibility will be subject to the value of property selected by you and will be at the sole discretion of Nido.

Yes. To increase income you can do any of the following, subject to Nido’s discretion

Include an immediate relative with an income as a co-applicant
Include income from other sources (Rental, Business, etc.)

You can apply for a Home Loan even before the purchase of the property. A loan amount will be sanctioned to you base on the above mentioned eligibility criteria. The loan amount will be subject to the value of the property, when you select one.

Maximum tenure of the loan is 20 years, subject to Home Loan eligibility norms.

You can apply for a Home Loan in the following ways:

Apply online https://www.edelweisshousingfin.com/apply-online
Email us at homeservice@edelweissfin.com / housing.loans@edelweissfin.co
Call us at  1-800-1026371

The following modes of payment are available:

•  Electronic Clearance System (ECS)
•  You can calculate your EMI Amount using our Home Loan EMI Calculator.

Yes. There are charges applicable for full or part prepayment of Home loans. For more details, kindly refer to Fees & charges

Nido Home Finance Limited may assist you in finding the insurance policy suited to your needs.

• We will also fund the insurance premium, subject to eligibility criteria.
• The premium amount will be part of the Home Loan disbursed and will be amortized over the tenure of the loan.

• Both principal as well as interest of home loans attract tax benefits. With effect from 1st April 2005 (i.e. assessment year 2006-07) under section 24(b) and 80C of the Income Tax Act 1961.
• Principal amount of repayment of Home Loan along with other savings such as PF, PPF, Life Insurance premium etc up to a maximum of Rs 1,50,000/- will be eligible for deduction from gross income u/s 80C of Income Tax Act1961.
• For self occupied – Income will be treated as nil and interest payment up to Rs. 2,00,000/- will be treated as minus income which will be adjusted against other income under section 24(b) of the Income Tax Act 1961.
• For rental property – It will be adjusted against rental income.
• Interest paid on Home Loan before completion of construction will be allowed as deduction from income at 20% per year for the next five years.

Individuals qualifying the following Pradhan Mantri Awas Yojana eligibility requirements can avail benefits under the scheme.

• CLSS categories
• EWS or Economically Weaker Section: Households where the annual income is up to to Rs.3 lakh.
• LIG or Lower Income Group: Households where the annual income ranges between Rs.3 lakh and Rs.6 lakh.
• Individuals belonging to SC/ST/OBC categories
• Women
• First-time home buyers

The PMAY eligibility criteria also includes non-beneficiaries of any other state or Centre-led housing schemes.

The fees and charges vary for the type of loan, customer is procuring .Please click the link provided to find more details for the same.

https://www.edelweisshousingfin.com/fees-and-charges/

The following are the minimum documents required for a Home Loan

The security for the loan is a first mortgage of the property to be financed, normally by way of deposit of title deeds and/or such other collateral security as may be necessary. The title to the property should be clear, marketable and free from any encumbrances.
Interim security may be additionally required, if the property is under construction. Collateral or interim security could be assignment to Nido of life insurance policies, the surrender value of which is at least equal to the loan amount, guarantees from sound and solvent guarantors, pledge of shares and such other investments that are acceptable to Nido

• Please click on the link provided to find more details for Grievance Redressal policy of Nido Home Finance Limited.

https://www.edelweisshousingfin.com/grievance-redressal/?Grievance%20Redressal

Please click on the link provided to find more details of MITC of Nido Home Finance Limited.

https://www.edelweisshousingfin.com/grievance-redressal/?MITC

We offer 3 types of Rate of Interest (ROI) depending on the type of loan customer would like to avail

• Floating ROI for the entire tenure of the loan
• Fixed ROI for the entire tenure of the loan
• Partially fixed and partially floating ROI for the entire tenure of the loan

You could find out the amount of loan you can get using the following link below

https://www.edelweisshousingfin.com/calculators/

You could calculate tax saving using the following link below
https://www.edelweisshousingfin.com/calculators/

You could check stamp duty charges by clicking the following link

https://www.edelweisshousingfin.com/calculators/

You could find out additional charges by visiting the following link
  https://www.edelweisshousingfin.com/fees-and-charges/

You could contact us on 1-800-1026371 .We would be able to help you in detail for any  queries you have.

You could reach to us out using the following link
https://www.edelweisshousingfin.com/contact-us/?Customer%20Care

You could locate the nearest branch by clicking the link below https://www.edelweisshousingfin.com/contact-us/?Customer%20Care

You can borrow up to 70% of the market value of your property subject to income eligibility and Loan against Property (LAP) eligibility.

Yes, you can avail Loan against Property (LAP) for all legal and valid investments.

For Loan against Property we provide loans up to a period of 15 years

We have products under which we can offer you a Loan against Property (LAP) based on your income and surrogate income. A thorough understanding of your business will help us determine your Loan against Property (LAP) eligibility in case of surrogate income based.

We understand your business thoroughly to determine your eligibility in case of surrogate income.

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 Loan against Property (LAP ) interest rate varies depending upon your loan amount, property type, income etc.

Loan against Property (LAP) Interest rates can be fixed, variable or part fixed and part variable. We offer variable rate loan against property (LAP) 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) however Foreclosure charge will be levied as applicable

Foreclosure charges vary from 5% to 3% depending on the tenure of the loan.

Nil Restrictions. All part prepayments to the foreclosure of the loan will be charged with the applicable Part Prepayment/foreclosure rate

You can repay the loan by way of

• Electronic Clearing System (ECS)
• “Pay EMI “ option – On our website and app
• You can calculate your EMI Amount using our Loan EMI Calculator

Before final disbursement of Loan against Property (LAP), 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 against Property (LAP) is paid off in full in a specified number of years.

You can calculate your EMI Amount using our Loan EMI Calculator