An L&T Finance Personal Loan can help you manage expenses such as medical emergencies, weddings, education, home renovation, travel, debt consolidation, and other personal needs.
Eligible borrowers can get loan amounts from ₹50,000 to ₹30 Lakh, with interest rates starting from 10.50% p.a. Repayment tenure ranges from 12 to 72 months.
The loan application process is digital and collateral-free. Eligible applicants may receive approval in around 2 minutes and disbursal within 5 to 15 minutes.
L&T Finance Personal Loan Details
Here are the main details of an L&T Finance Personal Loan, including loan amount, interest rate, tenure, fees, and eligibility:
| Feature / Detail | Overview |
| Loan Amount | ₹50,000 up to ₹30 Lakh |
| Loan Tenure | 12 to 72 Months |
| Interest Rate | Starts from 10.50% p.a. |
| Processing Fee | Up to 4% of loan amount + applicable taxes |
| Eligible Categories | Salaried & Self-Employed Individuals |
| Income Proof | Minimal / Not required for pre-approved profiles |
| Collateral / Security | Nil (100% Unsecured Loan) |
| Approval & Disbursal | Approval in 2 minutes; Disbursal in 5 to 15 minutes |
| Purpose of Loan | Wedding, Medical Emergency, Home Renovation, Education, Vacation, Debt Consolidation & Personal Use |
L&T Finance Personal Loan Interest Rates
Getting the right interest is crucial, it helps manage finances without burning a hole in your pocket, and L&T Finance Personal loan interest rates are set starting at 11% per annum. However, L&T Finance Personal Loan interest rates will vary with several factors of the applicant.
| L&T Finance Loan Interest Rate | Starting from 10.50% p.a. |
L&T Finance Personal Loan Fees & Charges
Before applying for an L&T Finance Personal Loan, check the processing fee, bounce charges, foreclosure charges, and other applicable costs.
| Charge Type | Details |
| Processing Fee | Up to 4% of the sanctioned loan amount + applicable taxes |
| Repayment / EMI Bounce Charges | Up to ₹500 for loan amounts < ₹5 Lakh; Up to ₹1,000 for loan amounts ₹5 Lakh to ₹30 Lakh |
| Penal Charge / Late Payment Charge (LPC) | 2% per month on overdue EMI + applicable taxes |
| Part Prepayment Charges | Up to 5% of part-prepaid amount + applicable taxes |
| Foreclosure Charges | 5% of principal outstanding (POS) + applicable taxes |
| Annual Maintenance Charges (AMC) | Nil |
| Legal & Recovery Charges | As per actuals (Legal charges up to ₹30,000; Recovery charges up to ₹15,000 + applicable taxes) |
| Duplicate NOC Charges | First 3 paper copies free; ₹250 to ₹500 + applicable taxes from the 4th copy onwards |
| Repayment Swap Charges (per swap) | Up to ₹500 + applicable taxes (applicable for branch walk-ins) |
| Document Charges (SOA, Repayment Schedule, Welcome Kit) | Nil |
| Cooling-Off / Look-Up Period | 3 Days from the date of loan disbursement (no penalty charged during this window) |
| Loan Cancellation Charges (Post Cooling-Off Period) | 5% of outstanding loan amount + applicable taxes |
L&T Finance Personal Eligibility Criteria
L&T Finance has separate eligibility requirements for salaried and self-employed applicants.
| Eligibility Factor | Salaried Requirement | Self-Employed Requirement |
| Age Limit | 21 to 58 years | 25 to 65 years |
| Nationality | Indian Resident | Indian Resident |
| Minimum Net Income | ₹25,000 per month or above | Stable annual net income verified via ITR |
| Work Experience / Vintage | Minimum 1 year in current role/company | Minimum 2 years of business vintage |
| Minimum Credit Score | 700 or above (750+ preferred for best rates) | 700 or above (750+ preferred for best rates) |
Documents Required for L&T Personal Loan
Keep the following documents ready while applying for an L&T Finance Personal Loan:
- Identity Proof: PAN Card is mandatory. You can also submit Voter’s ID, Aadhaar Card, Driving Licence, or Passport.
- Address Proof: Aadhaar Card, Driving Licence, Voter’s ID, Passport, or recent utility bills such as electricity, gas, or water bills not older than 2 months.
- Income Proof for Salaried Applicants: Latest 3 months’ salary slips, Form 16, or bank statements showing salary credits for the last 3 months.
- Income Proof for Self-Employed Applicants: Latest Income Tax Returns (ITR) with income computation for the last 2 years and bank statements for the last 6 months.
L&T Finance Personal Loan EMI Calculator
You can use the EMI calculator to estimate your monthly repayment before applying for an L&T Finance Personal Loan.
Follow these simple steps:
- Step 1: Enter the loan amount you want to borrow.
- Step 2: Enter the applicable interest rate.
- Step 3: Choose your preferred repayment tenure.
- Step 4: Check the estimated monthly EMI and total interest payable.
You can also adjust the repayment tenure to find an EMI that suits your monthly budget.
Features & Benefits of L&T Personal Loan
Here are some of the main features of an L&T Finance Personal Loan:
- Loan Amount up to ₹30 Lakh: Eligible borrowers can get unsecured funds for different personal needs.
- Interest Rates Starting from 10.50% p.a.: The final rate depends on your eligibility and credit profile.
- Quick Digital Approval: Eligible applicants may receive loan approval within 2 minutes.
- Fast Disbursal: Approved funds can be transferred directly to your bank account within minutes after verification.
- No Collateral Required: You do not need to pledge property, gold, or provide a guarantor.
- Flexible Repayment Tenure: Choose repayment periods ranging from 12 to 72 months.
- 3-Day Cooling-Off Period: You get a 3-day period after disbursal to cancel the loan without penalty charges.
Compare L&T Finance Personal Loan Vs Other Lenders
Banks and NBFCs offer a wide range of interest rates and charges. Each lender differs with each other based on several factors. Compare L&T finance personal loan with other lenders and make a better financial decision –
| Banks/NBFCs | Interest Rates(p.a.) |
| L&T Finance | 11% onwards |
| HDFC Bank | 9.99% onwards |
| Axis Bank | 9.99% onwards |
| Punjab National Bank | 8.95% onwards |
| Induslnd Bank | 10.49% onwards |
| ICICI Bank | 9.99% onwards |
| KreditBee | 12.24% p.a onwards |
| Muthoot Finance | 13.5% onwards |
| Bajaj Finserv | 10% onwards |
| MoneyTap | 13% onwards |
Note: The above mentioned rates are subject to change with the finance market and differ marginally with the respect to the individual banks.
How to Apply For L&T Finance with Buddy Loan?
Follow these steps to apply for a L&T Finance personal loan on Buddy Loan:
- Step 1: Visit buddyloan.com or Download & install the Buddy Loan app (Android or iOS).
- Step 2: Open the Personal Loan Application Page. Provide the mobile number and enter the received OTP.
- Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option
- Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
- Step 5: Enter your work details (Including company name, years of service and Designation)
- Step 6: Enter your personal details (Including Full Name, PAN, address DOB & Gender)
- Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.
Ready to take the next step? Apply for a Personal loan now!
L&T Finance Personal Loan Repayment
L&T Finance offers repayment tenure ranging from 12 to 72 months.
Monthly EMIs can be automatically deducted from your linked bank account through:
- e-Mandate
- eNACH
- UPI
- eAADHAAR
If an EMI is missed because of insufficient balance, you can clear the pending amount online, through the PLANET App, or by visiting an L&T Finance branch.
Paying your EMIs on time can help you maintain a good repayment history and support your credit profile.
L&T Finance Personal Loan Customer Care Number
You can contact L&T Finance for help with loan applications, EMI schedules, account information, or other personal loan queries.
| Contact Channel | Customer Support Details |
| Toll-Free Customer Care Number | 1800 268 0000 |
| Corporate Office Telephone | +91 22 6212 5000 |
| Official Website | [[suspicious link removed]](https://[suspicious link removed]/) |
| Customer Support Portal | Contact Us – L&T Finance |
| AI Chatbot Support | KAI Chatbot (Available on Website & PLANET App) |
| Corporate Office Address | Brindavan, Plot No. 177, CST Road, Kalina, Santacruz East, Mumbai – 400098, Maharashtra, India |
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