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Edelweiss Housing Finance launches small-ticket loans in Tamil Nadu
• Loan size less than 10 lakhs
• Ideal for self-employed and low income customers
• Company targeting loan book of Rs 6,000 crores by 2015
Chennai, February 8, 2013: Edelweiss Housing Finance, the housing finance arm of Edelweiss Financial Services Group, one of India’s leading financial services conglomerate has launched small ticket loans of less than Rs 10 lakh for the customers in Tamil Nadu. The company will provide home loans to the self-employed and low-income customers in small towns and cities in Tamil Nadu and Southern India.
Speaking on the occasion, Mr. Anil Kothuri, Head - Retail Finance, Edelweiss Group &CEO, Edelweiss Housing Finance Limited said, “We have introduced small ticket loans specifically for potential customers in Southern India. This product is our attempt to reach out to the customers especially from the low income sections of the society, who dreams of having their own house.”
“We see a good potential to lend to this segment both on the secured and unsecured side” he added.
The company will offer this product in Chennai, Tiruchi, Madurai, Coimbatore and Erode. Edelweiss Housing Finance has engaged an expert team who assess the income and repayment ability of the home loan applicants. The company facilitates extensive services to its customers such as loan disbursement within 7 days, expedited process home loan, direct contact with customers, credit capability to extend higher loans to customers and 25 years of long term loan repayment period.
Edelweiss Housing Finance began operations in September 2010 and is currently present in Mumbai, Delhi, Pune, Chennai, Hyderabad, Bangalore, Ahmadabad, Baroda and Surat. The company has a loan book size of Rs. 1,200 crore and aims to increase its total loan-book size of Rs 6,000 crore by 2015 and open 10 more branches by end on 2014.
About Edelweiss Financial Services (earlier known as Edelweiss Capital Limited):
Edelweiss has emerged as India’s leading diversified financial services Group. Edelweiss offers a large range of financial products and services spanning across asset classes and consumer segments. Its businesses are broadly divided into Credit, Capital Markets including Investment Banking and Brokerage Services – Institutional, HNI and Retail, Asset Management, Housing Finance and Life Insurance. Edelweiss now has 296 offices in over 150 cities pan India with 2750 employees.
Edelweiss Financial Services Limited trades under the symbols NSE: EDELWEISS, BSE: 532922, Bloomberg: EDEL.IN, Reuters: EDEL.BO.
To learn more about the Edelweiss Group, please visit www.edelweissfin.com.