L&T Finance Personal Loan

The key details of the LNT Finance personal loan are mentioned below:

The features of the L&T personal loan are mentioned below in detail:

• Loan amount: You can avail of a loan amount of Rs. 50,000 to Rs. 30 Lakhs from L&T Finance app or website. 
• Purposes: L&T personal loan can be used for a variety of reasons such as education, home renovation, wedding, travel, medical emergency or general purposes.
• Tenure of repayment: The repayment tenure for the loan ranges from 12 months to 72 months.
• Processing fee: A processing fee of 3% of the loan amount or Rs. 40,000 (whichever is lower) + applicable taxes is applicable.
• Eligible applicants: Salaried and self-employed professionals who are Indian citizens and have valid ID proof. 
• Key benefits: Completely digital application process, fast disbursal, and no income proof documents required.
• Cooling-off/ look-up period: L&T offers a cooling-off or look-up period of 3 days from the date of disbursement, during which you will not be charged any penalty on prepayment of the loan.
• Instant application: If you want an L&T personal loan, apply online instantly on the L&T Finance app.

• Interest rate: L&T Finance personal loan interest rate starts from just 11.00% p.a. onwards, depending on the borrower’s credit score, loan amount to be applied for, income, and other eligibility criteria.
• Part prepayment charges: 5% of prepaid amount + applicable taxes.
• Foreclosure Charges: 5% of principal outstanding + applicable taxes.
• Processing fee: 3% of the loan amount or Rs. 40,000 (whichever is lower) + applicable taxes.
• EMI dishonour/ bounce charge: Rs. 500 to Rs. 2,000, depending on the loan amount.
• Penal charge/ Late payment charge: 2% per month on overdue EMI + applicable taxes.
• Statement/ document retrieval charges: Rs. 500 + applicable taxes (after 3 free copies).
• Repayment instrument swap charge for branch walk-ins: Rs. 500 per swap + applicable taxes.
• Loan cancellation charges post cooling-off period of 3 days: 5% of the principal outstanding loan amount + applicable taxes.
• Field collection service charge: Rs. 500 per collection + applicable taxes.
• Legal fees & charges: Up to Rs. 30,000 + applicable taxes.
• Recovery charges: Up to Rs. 15,000 + applicable taxes.

Below is the comparison table for the L and T Finance personal loan with other personal loan apps:

The eligibility criteria for the LNT personal loan are mentioned below:

• Nationality: Indian citizens having a valid ID proof
• Occupation: Salaried and self-employed professionals
• Age criteria: 21 to 58 years of age

If you want an LNT loan, you can apply online with the following documents:

• A valid ID proof: PAN and any one of the following:
  • Aadhaar Card
  • Driving License 
  • Passport 
  • Voter ID 
  • Job Card by NREGA 
  • A letter issued by the National Population Register (NPR) containing details of name and address
• Address Proof: 
  • Utility bills not older than 2 months (Electricity, Telephone, Post-paid Mobile Phone, Piped Gas, Water Bill) 
  • Aadhaar Card 
  • Driving License 
  • Passport 
  • Voter ID 
• Income Proof:
  • Salaried - Last 3 months' salary slips/ Form 16/ Last 3 months' bank statement reflecting salary credits/ Salary Certificate
  • Self-employed - Latest Income Tax Return (ITR

Here's the L&T Finance personal loan login process:

• Go to the L&T Finance website or open the L&T Finance PLANET app. 
• Find and click on the "Login" or "Customer Login" button. 
• Enter your Loan Account Number (LAN), which is a unique identifier for your personal loan account. 
• Enter a one-time password (OTP) sent to your registered mobile number. 
• Complete the login to access your personal loan account details.

If you want to get a L&T Finance personal loan, apply online by following the easy steps as mentioned below:

• Open and log in to the L&T Finance website or open the L&T Finance PLANET app.
• Select ‘Personal Loan’ and click on the 'Apply Now' button to start your digital loan journey.
• Enter your details, including income, current address, etc., to instantly check your loan eligibility
• Explore personalised loan offers and select one that matches your needs. 
• Securely provide your bank details to register for an E-mandate for smooth loan repayments
• Verify your identity with a quick online KYC process. 
• Get your loan disbursed directly to your bank account.

For any queries regarding L&T Finance loan products, you can contact at the following numbers:

• L&T Finance personal loan customer care number: 1800 268 0000
• WhatsApp number: +91 7378333451
• Email: customercare@ltfs.com
• Corporate office: Brindavan, Plot No. - 177, CST Road, Kalina, Santacruz (East), Mumbai - 400 098, Maharashtra, India, +91 22 6212 5000