FAQ

1. What is Edelweiss Finance?

Edelweiss Finance is India’s app-based personal credit.

With the tap of a button, this app lets you borrow as little as Rs. 50,000 or as much as Rs. 8 lakhs depending on your credit limit. More importantly, you pay interest only on what you use.

2. Can I take the money in cash and spend it on whatever I want? How?

Yes. You can transfer money from your app to your bank account and use them as you wish to someone depending on your needs. The funds are yours.

3. Do I have to pay interest? Is it high?

You have to pay interest only on the funds you use. At the time of withdrawal, you can choose the terms of repayment, which can be anywhere between 3 months and 5 years. The repayment tenure you choose will determine your EMIs.

The interest rate can be as low as 8.04% per year depending on the credit profile of the user.

4. Can I pre-close my loan?

Yes, you can. A loan foreclosure can only be requested after successful payment of 1st monthly EMI. Then there is no other fees.

5. Is it safe to apply for Edelweiss Finance online?

It is absolutely safe. All your sensitive information, which are personal or financial are encrypted through the Secure Socket Layer (SSL) protocol. We will not share your information with any marketing agencies or tele-callers who will call to sell you other products.

Our systems have been designed such that most of the steps are automated. Our IT systems are checked and approved by the IT and Data Security teams of our partner banks. We are legally compliant with all data privacy and IT security norms in India.