L&T Personal Loan Interest Rate
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L&T Finance Ltd. offers personal loans of up to Rs. 7 lakh with interest rates starting at 12% p.a. and repayment tenures of up to 4 years. The loans can be used to finance a variety of personal expenses, including home renovation, festivals, marriage, education, and medical needs. L&T Finance also offers micro-loans to low-income women borrowers. Both salaried and self-employed applicants can access these loans through a streamlined digital application, requiring minimal documentation and ensuring swift approval.

L&T Finance Personal Loan Interest Rates

L&T Finance Personal Loan interest rates start at 12% p.a. onwards. The actual interest rate you are offered will depend on your credit score, loan amount, and other factors. L&T Finance offers competitive interest rates on personal loans, and its rates are comparable to other leading lenders in the market.

L&T Finance type of Personal Loan

Loan Type Rate of Interest Suitable For
Consumer Loan 12% p.a onwards wedding, education, medical, Home Renovation etc
Micro Loan 24% p.a onwards for women borrower

L&T Finance Consumer Loan

Consumer Loan: Consumer loans are personal loans that can be used to finance a variety of personal expenses, such as weddings, education, medical needs, and home renovations. Consumer loan amounts typically range from Rs. 50,000 to Rs. 7 lakh.

Loan Amount: Rs 50,000 to RS 7,00,000

Tenure: 1 year to 4 years

L&T Finance Micro Loan

L&T Finance Micro Loan offers short-term loans to groups of women borrowers who are jointly liable for the loan. It has three different kinds of microloan schemes. 

  • L&T Finance Vikas - This loan facility is offered to first-time customers of L&T Finance
  • L&T Finance Vishwas - L&T Finance rewards its loyal customers with this micro loan facility, which is available to customers who have already borrowed from them and paid at least 12 EMIs on time.
  • L&T Finance Pragati - L&T Finance offers this high-ticket loan to select customers who have already borrowed from them and paid at least 12 EMIs on time, and who may need a larger loan amount.

How much loan can be offered under L&T Finance Vikas?

Under the L&T Finance Vikas scheme, individuals can avail loans ranging from Rs 30,000 to Rs 40,000, with a repayment period of 2 years.

What is the maximum loan amount that can be availed under L&T Finance Vishwas?

The L&T Finance Vishwas scheme allows borrowers to avail loans ranging from Rs 40,000 to Rs 75,000, with a flexible tenure spanning from 24 to 33 months. This program caters to a broader range of financial requirements.

What is the maximum loan limit in L&T Finance Pragati?

Under the L&T Finance Pragati scheme, borrowers can avail of loans ranging from Rs 60,000 to Rs 1.1 lakh, with a maximum tenure of 3 years. This scheme is designed to accommodate a variety of financial needs.

Fees and Charges for L&T Finance Personal Loan

Description Rates
Processing Fee

Consumer Loan: Upto 2% of Principle Amount + Taxes

Micro Loan: 1% of Loan Amount + Taxes

Repayment Bounce Charges

Consumer Loan: RS 350 +Taxes

Mico Loan: Nil

Late Payment Interest Consumer Loan: 3% per month on Overdue EMI
Part Prepayment Charges Consumer Loan: Upto 5% of the prepaid amount + Taxes ( part payment of up to 25% allowed twine in a year)
Foreclosure Charges Consumer Loan: 5% of outstanding principal amount + Taxes
Legal /Recovery charges As per actuals
Duplicate NOC charges (applicable per copy after 3 free copies per customer) Rs 250 + Taxes
Repayment swap charges (per swap) Rs 500 + Taxes
Loan cancellation charges post cooling off period of 3 days 5% + Taxes on outstanding loan amount

Key Features & Benefits of L&T Finance Personal Loan

  • Interest Rates - Begin repaying your loans with competitive interest rates starting at 12%
  • Loan Amount - Upto Rs 15 lakhs of loan can be availed
  • No Income Proof - Get a loan without producing income documents
  • Complete Digital - Faster Disbursal with Zero Paperwork

Eligibility Criteria for L&T Finance Personal Loan

The eligibility criteria for an L&T Finance Personal Loan are as follows:

Citizenship Proof

  • An Indian citizen with valid ID proof
  • Microloan - Women Borrower


  • 23 years to 58 years

In addition to the above criteria, L&T Finance may also consider other factors such as your employment history, debt-to-income ratio, and existing loan obligations when determining your eligibility for a personal loan.

Required Documents for Applying for an L&T Finance Personal Loan

The following documents are required for applying for an L&T Finance Personal Loan:

  • Identity proof: PAN card, Aadhaar card, passport, voter ID card, driving license
  • Address proof: Aadhaar card, passport, voter ID card, driving license, utility bills, bank statements
  • Income proof: Salaried individuals: salary slips for the past 3 months, Form 16, bank statements reflecting salary credits; Self-employed individuals: income tax returns (ITRs) for the past 2 years, bank statements

L&T Finance may also ask for additional documents depending on your individual circumstances. For example, if you are applying for a loan to finance a business expense, you may be asked to provide a copy of your business plan or financial statements.


Grievance Redressal 

Name of the Officer: Shantanu Chowdhury

Office Address: 533 Somdutt Chamber 2, Bhikaji Cama Place, New Delhi 110066

Email: shantanu.chowdhury@investmentcover.com

Contact Number: +911140793102

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