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ECL Finance (Edelweiss) MSME Loan Against Property: How and Where to Apply

You’ll discover it is rather simple to fill out an application for an Edelweiss loan against property. This is appropriate for businesses or borrowers who own real estate holdings without encumbrance and need immediate funding. They may finance the asset for up to 100% of its current worth to aid with expanding their business or consolidation, debt repayment, occasions such as weddings, kids’ studies, purchasing another asset, and other purposes. You can experience a hassle-free Edelweiss LAP online application process while benefiting from an amazingly attractive interest rate. 

Benefits and Advantages of Edelweiss LAP

  • Bigger loan sizes and repayment terms of up to 15 years are available for your convenience.
  • Reasonable interest rates.
  • Simple processing of loans and management.
  • The loan consolidates into a single installment.
  • Loan applications are quickly approved and processed, with various repayment options.
  • You may use the money to address both your personal and professional needs.
  • Offers tailored deals for self-employed people.

Unexpected situations may result in you receiving external financial aid at any moment. In those sudden instances, if you own property, you can use it as collateral for loans rather than keeping it as a residual asset. If you need a large sum of money to meet your needs, you can use the ownership of your home or commercial property. You can now acquire money at a cheaper interest rate than a personal loan if you qualify for an LAP from Edelweiss.

Specific Property wise Funding Limit:(i) Lal Dora-20 Lac (ii) Regularized Area-20 Lac (iii) Khasra-Khatauni-20 Lac(iv) Subdivided Property-20 Lac(v) Stone Slab-20 Lac / Without Map Property-20 Lac(vi) Gram Panchayat Property-20 lac(vii) Leasehold Property without PTM-20 Lac (viii)Subject to Registry-20 Lac(ix) Gift Deed-20 Lac(x) Single Sale Deed-20 Lac(xi) Unapproved Property-20 Lac(xii) Legal & Technical Not Clear-20 Lac (xiv) Property in Demolition List-20 Lac

Check the Table Below to Have a Quick Overview of Edelweiss Loan Against Property

ProductEdelweiss Loan Against Property
Who Can ApplySelf-Employed Individuals
Required CIBIL ScoreMinimum 675+
Age Criteria21 Years – 65 Years
Loan Size20 Lac- 10 Cr
Loan Tenure3 Years to 15 Years
Rate of Interest10.50%-13.50% (Reducing)
TAT10 Days
Processing Fee1-2%
Foreclosure ChargeUpto 4%

REQUIRED DOCUMENTS TO APPLY FOR EDELWEISS BANK LOAN AGAINST PROPERTY

  • KYC of applicant & Co-Applicant
  • Last 3 year ITR with computation of income of applicant & co-applicant
  • Last 3 year audited balance sheet of applicant
  • Last 3 year Tax audit report of applicant
  • Last 12 month Bank Statement of applicant & co-applicant
  • 26AS of last 2 year of applicant & co-applicant
  • Copy of GST registration
  • Copy of MSME registration
  • Copy of Last 12 month GST return
  • Agreement to Sale if purchase case
  • Property Paper with complete chain of last 13 years
  • LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
  • Sanction letter of all running loan
  • Debt Sheet
  • Latest utility Bill of residence if owned or rent agreement if rented
  • Latest utility Bill of Office if owned or rent agreement if rented
  • 2 Reference with contact details
  • Last 3 year Debtors & Creditors on letterhead
  • List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP

Before Applying, Look into the Below Mentioned Points

If Applicant is

  • Company-MOA, AOA, COI , PAN Card
  • Partnership Firm/LLP- Partnership Deed & PAN Card
  • Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo

For Co-Applicant

  • KYC means  Aadhaar Card, PAN Card, Passport Size Photo

Co-Applicant means in case of

  • Company : Directors
  • Partnership firm/LLP : Partners
  • Proprietorship Firm : Spouse of Proprietor

How to Apply for a LAP at Edelweiss

You can submit an application for an Edelweiss LAP in a few different ways:

At-Person: Go to your closest Edelweiss Branch location for a discussion about whether you’re eligible and for information about your LAP. Their official website contains information about all of their branches as well. If you decide to come to the branch, bring the filled-out application and any relevant documentation.

You can also contact customer service at 022 42722272 or 74 for assistance with the entire procedure.

Email: You may also email the customer support team at homeservice@edelweissfin.com for loan information. You may reach the customer service hotline at any moment throughout Monday and Friday from 10:00 a.m. to 5:00 p.m.

Online: You may also fill out the web-based application and submit applications through their official portal. Someone from the representative will contact you to clarify the entire procedure.

Need Assistance? 

Another option is if you feel you require advice on loan eligibility requirements, along with selecting the most advantageous offer or assistance with submitting your application and documents. Refer Loan may direct you through all of the steps and connect you with the financial aid offering that most effectively fits your needs.

To apply seamlessly 

Currently, India’s small and medium enterprises (MSME) industry comprises countless businesses. Not only is this primed to be the nation’s growing economic engine in question, but it additionally creates a huge amount of employment opportunities in both urban and rural areas. This viewpoint is further backed by the government’s many economic empowerment policies, which provide additional benefits to GST-registered small to medium-sized enterprises.

Bottom-Line

The need for credit in small and medium-sized enterprises (MSME) is significant. MSMEs require credit to run their day-to-day affairs as well as to support business progress. Meanwhile, the small and medium-sized enterprises (MSME) market continues to experience a significant credit gap, mostly due to MSMEs’ lack of understanding of financing possibilities and credit criteria.

Choose Refer Loan as your trustworthy financing partner for MSMEs. Refer Loan assists MSMEs to receive financial assistance as they seek to bridge the cash flow gap as well as expand their businesses.

Edelweiss LAP has been customized to suit the financial needs of small and medium-sized enterprises.

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