L&T Financial Services & L&T Housing Extend EMI Moratorium till Aug 2020

L&T Financial Services & L&T Housing Extend EMI Moratorium till Aug 2020

Following RBI’s latest guidelines, L&T Financial Services and L& T Housing Finance have granted moratorium of three more months on Loan EMIs falling due between June 1, 2020 and August 31, 2020.

The interest will continue to accrue on the outstanding amount during the deferment period. The customer will be liable to repay the capital interest after the moratorium period notified the NBFC and HFC.

The sole objective of extending a repayment relief package to customers is to offer a cash flow relief to all those customers who are facing financial gaps due to economic situation caused amid COVID-19 pandemic.

To opt for Moratorium, you need to login to website and register yourself for Moratorium.

L& T Housing Finance: https://www.ltfs.com/companies/lnt-housing-finance.html

L&T Financial Services: https://docvault.ltfs.com/consentApp/#/login

Use these links to and share the required details to opt for EMI deferment. The customer can not opt for three month Moratorium at one go. The customer needs to make three separate requests, due each month. The L& T FS & L&T HF have shared request timelines, opt in & opt out details. Here are the highlights:


Also Read: HDFC Bank Launches Personal Loan with Step up EMI Repayment Option


FAQs – L& T Housing Loan & Rural Finance

✅ What is the latest COVID-19 Moratorium regulatory package?

Under the latest COVID-19 regulatory package, customers are offered Moratorium i.e. deferment of EMIs on their Term loans, for period between June 1, 2020 to August 31, 2020.

✅ How will the loan be adjusted after Moratorium?

As per the RBI guidelines, the Interest will continue to accrue on the outstanding amount during the moratorium period. The rate of interest will be same as contracted in a loan document. The amount will be collected wither as an adjustment to the last EMI or additional EMI at the end of historic tenor. The decision will be communicated to the borrowers.

✅ Are there any charges involved in Moratorium 2 scheme?

No there are no charges involves. Also, no cheque bounce charges will be levied from the customer’s account for moratorium.

✅ What happens to dues prior to March, 2020?

As per RBI’s directive L& T FS & L& T Housing is offering moratorium for 6 months, between March 2020 and August, 2020. No moratorium is applicable on dues prior to March 1, 2020. If there are any instalments/dues before this period the customer should clear it earliest to avoid penal charges.

✅ How do I payout outstanding of my LTFS outstanding dues?

You can regularize payments online using any of the following mediums:

A. UPI platform

1. Enter your virtual UPI id as given below product wise:


UPI Payment

Two Wheeler

LNTTW<Loan Account Number >@sc

Farm Equipment Finance

LNTFL< Loan Account Number >@sc

Consumer Loan

LNTCL< Loan Account Number >@sc

Micro Loan

LNTML< Loan Account Number >@sc

2. Click verify and pay amount.

3. Transaction number will be sent on successful payment.

B. Through Paytm: https://paytm.com/loan-emi-payment

C. Through LTFS website: Login and pay dues here: https://payments.ltfs.com/

✅ How to avail L& T Financials Moratorium for June, July & August?

You can avail of Moratorium on Two-Wheeler Loan, Farm Equipment Loan, Consumer Loan & Micro Loan clicking on link: https://docvault.ltfs.com/consentApp/#/login

Register with your loan account number, registered mobile number and date of birth and share consent for Moratorium. The NBFC has requested customers to opt for moratorium at least three days prior to EMI due date. You can also contact your local branch representative for amu concerns related to moratorium.

✅ How do I avail of EMI Moratorium from L&T Housing Finance?

You can avail Moratorium in following ways:

A. Visit website and share your preference.

Here is the link:  https://www.ltfs.com/companies/lnt-housing-finance.html

Click on EMI Moratorium Option and proceed.

Please note that for Moratorium 2.0 request received via E-mail or SMS will not be accepted.

  1. The request will be processed per month basis. In case you need 3 month Moratorium, you are required to make new request each month.
  2. Kindly adhere to shared timelines for making moratorium request to HFC. In order to opt for Moratorium in June, apply between May 31, 2020 to June 2, 2020; as for July Moratorium, make request between June 21, 2020 to June 25, 2020 and for August month, send request from July 21 t0 July 25. If the request is not made on time, payment will be processed as per mandates.

✅ How does moratorium impact my loan if I am serving pre-EMIs?

You can avail of moratorium on pre-EMIs. The quantum of pre-EMI will proportionately increase post moratorium period. The loan once disbursed fully, tenor/ EMI schedule will increase accordingly.

✅ What would be payment terms for accrued interest during moratorium period?

The accrued interest will be paid either by increasing EMIs or the tenor of the loan. In case customer chooses to increase EMI with same tenure, L&T Housing will provide a cooling period of 12 months. The revised repayment schedule shall be shared after moratorium period. In the cooling period EMIs will not change. Customers will also get option to pay differential amount with any part payment charge. However in case the customer opts for tenor increase, the EMI will remain unchanged and the differential will be adjusted by increasing loan duration. In case maximum tenor for loan is already opted for, EMI increase will be the only option to pay the outstanding amount.

✅ Can I apply for June to July Moratorium with one application?

No. You require to make separate application for each month. Click here to make the request: https://docvault.ltfs.com/consentApp/#/login.

Also, raise the request for EMI deferment three days prior the due date.

✅ Does moratorium impact my credit history or credit score?

No. The credit history and credit score will not be impacted due to COVID 19 moratorium.

✅ LTHF: How do I opt out of moratorium after I have availed it?

To opt out of moratorium, make overdue payments by clicking direct link: https://payments.ltfs.com/LtfsPayment/

For any doubts or clarifications, you can contact Toll-Free: 18002094747

✅ Can moratorium be extended after 31st August, 2020?

No. Covid Moratorium facility is available up to 31st August, 2020.

✅ What charges will be applicable due to this EMI moratorium?

The interest will be capitalised on the outstanding loan amount at the rate of loan during moratorium. The original tenor will be extended accordingly and communicated to customers.

✅ How will I know updated status of my account?

After moratorium period, status of loan account and revised repayment schedule will be communicated to customers by the NBFC.

✅ Will I be asked to pay out 6-month moratorium instalments all at once?

No. The outstanding will be adjusted by increasing tenor. The impact on EMI will be nil or minimal.

✅ Can I foreclose/part pay during moratorium period?

The terms related to foreclosure and part payment remain unchanged. You will be allowed as per the loan contract.

✅ Are any documents required for availing of Moratorium?

No documents are required for making moratorium request.

✅ Can I cancel my moratorium request with LTFS?

Yes. Moratorium is offered as cash crunch solution. At any point in time, you can make the payment via UPI, internet banking or PayTM.


Also Read: Covid19 Relief by L& T Financial Services: Moratorium for Two-Wheeler, Farm Equipment, Micro & Consumer Loans


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