L&T Finance Personal Loan

Personal loans are a great way to get financial assistance when you need it, and loan spaces like L&T Finance Personal loan in a click. Anyone who fulfils the eligibility criteria can apply for L&T personal loan online and get ahead in their financial journey.

With an easy application process, a personal loan from L&T Finance can be availed for an interest rate starting from 12%, of loan amount up to Rs 7 lakh. What makes applying for an L&T finance personal loan even more easy is their 100% digital process which requires no collateral or income proof.

To know more L&T Finance Personal Loan Details keep reading!

L&T Finance Personal Loan Details

L&T Finance offers personal loans that would help you fulfil different financial needs. Check the table below for L&T personal loan details:

Loan amount From Rs. 50,000 to Rs. 7 Lakhs
Tenure in months 12 to 48 Months
Rate of Interest (p.a.) 12% p.a. onwards
Eligible Borrower Categories Salaried & Self-Employed
Income Proof No Income Proof Needed
Purpose of borrowing Emergency, Wedding, Medical, Personal Use & Others

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 12% per annum. However, L&T Finance Personal Loan interest rates will vary with several factors of the applicant.

L&T Finance Loan Interest Rate 12% p.a. onwards.

L&T Finance Personal Loan Fees & Charges

Banks and NBFCs charge extra for the services they provide, L&T finance also charge various fees for all loan related services. You can know more about L and T Finance Personal Loan fees and charges on the table below:

Processing fee Up to 3% + GST
Late payment charges Rs 350
Foreclosure charges 5% of POS + GST
Repayment Bounce Charges Rs.350 + Taxes (if any )
Late payment interest 3% per month on overdue EMI
Annual Maintenance charges NIL
Legal /Recovery charges As per actuals
Repayment swap charges ( per swap) Rs 500/- + Taxes

Other Charges :

Part Payment -

  • Up to 5 % of prepaid amount + Taxes
  • Up to 25% allowed twice in a year.

Duplicate NOC charges (Charge is applicable for paper copy post 3 free copies per customer) - Rs 250/- + applicable taxes

Not sure of your credit score? Check it now!

Check Your Credit Score for Free

Also get a Free Credit Report

L&T Finance Personal Eligibility Criteria

Eligibility for a loan is what determines whether someone has qualified for a loan or not. L&T finance personal loan criteria are simple, which are:

Age 23 - 58 years
Employment Salaried or Self-employed
Income Proof Not Required

Documents Required for L&T Personal Loan

Having the right set of documents can accelerate the process of getting a loan. Find the necessary documents required for an L&T personal loan here:

  • Identity proof: Voter’s ID, PAN card, Drivers licence, Passport, etc.
  • Address proof: Aadhaar card, Ration card, driving licence, Voter’s ID, passport, utility bills, rent agreement, etc.
  • Proof of income(if required): Latest salary slips of the last three months or income tax return certificate or latest Form 16.

  • How to Calculate L&T Finance Loan EMI?

    EMI calculator helps you determine your monthly payments for your instant loan. The EMI calculator will consider principal amount, interest rate, and loan tenure to provide your EMI amount. Check out the calculator below to determine how much EMI you need to pay for your tenure.

    Monthly EMI 86
    Principal Amount 1,000
    Total Interest 32
    Total Amount 1,032.00

    Year Month Principal (A) Interest (B) EMI (A+B) Balance Loan Paid to Date (%)

    Here's how to calculate the EMI for an L&T Finance loan:

    EMI = P x R x (1+R)^N / [(1+R)^N - 1]


    • EMI is the equated monthly instalment.

    • P is the principal amount.

    • R is the interest rate.

    • N is the loan tenure.

    Features & Benefits of L&T Personal Loan

    L&T Personal loan provides a range of important features and benefits, such as:

    Flexible Loan

    From Rs. 50,000 to Rs. 7
    Lakhs Avail the loan
    amount of your choice

    No prepayment

    Repay your loan early
    without any charges.

    Zero Paperwork

    Get personal loans
    quickly and with no

    100% Digital

    Streamline online
    process with minimal

    No Income Proof

    Get loans without
    income proof

    No Collateral/Security

    Apply loans without any
    collateral or security

    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.) Rates/ Charges
    L&T Finance 12% p.a. onwards Up to 3% + GST
    HDFC Bank 10.05% to 21% p.a 0.50% onwards
    Axis Bank 10.49% p.a onwards 1%
    Punjab National Bank 8.90% p.a onwards 0.30% + GST
    Induslnd Bank 10.49% p.a onwards Up to 3%

    Read More

    Read Less

    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

    Loan repayment is a crucial part of taking a loan, once a lender has approved your loans. It takes planning and controlled savings to be able to pay back the loan without any dues.

    L&T finance provides an open eligibility for people seeking loans and provides flexible repayment schedules from 12 to 18 months. With each EMI missed there is an added 3% overdue on the existing EMI and Rs 350 + taxes for repayment bounce charges.

    Quick Note:

    Not missing regular monthly payments and being aware of your EMIs increases your creditworthiness and helps in easy approval of future loans.

    Frequently Asked Questions on L&T Finance Loan

    The rate of interest for L&T finance personal loans starts at 12% p.a.

    Individuals from the age of 21- 60 years, and who are citizens of India (basic eligibility criteria). There are other factors that ultimately determine your eligibility for L&T personal loan.

    L&T Finance loan is a personal loan offered by L&T Finance Limited, a non-banking financial company (NBFC).The loan amount ranges up to Rs. 7 lakh with an interest rate starting at 12%.p.a.

    You can apply for a L&T Finance personal loan from their website or their application. You can also get a loan from them through the Buddy Loan app and website.

    You can find L&T Finance status online or offline by visiting the bank.

    Display of trademarks, trade names, logos, and other subject matters of Intellectual Property displayed on this website belongs to their respective intellectual property owners & is not owned by Bvalue Services Pvt. Ltd. Display of such Intellectual Property and related product information does not imply Bvalue Services Pvt. Ltd company’s partnership with the owner of the Intellectual Property or proprietor of such products.

    Please read the Terms & Conditions carefully as deemed & proceed at your own discretion.