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Overview Eligibility Features & Benefits Fees & Charges Documents FAQs Terms & Conditions

Product Overview

L&T Finance Personal Loan is an unsecured loan, which means no collateral or guarantor is generally required. Eligible applicants can avail of a personal loan of up to ₹30 lakh, with repayment tenure of up to 72 months.

Interest rates start from 10.50% p.a., subject to the applicant's eligibility and credit profile. Eligible applicants may receive quick approval, with L&T Finance stating that approval can be completed within 2 minutes, subject to verification and applicable conditions.

The loan can be used for various personal financial requirements such as medical expenses, weddings, travel, home renovation and other personal needs.

With fast processing, minimal documentation, and easy eligibility, it is a reliable option for entrepreneurs and individuals looking for quick financial assistance.

Eligibility Criteria

Eligibility is subject to L&T Finance's credit and underwriting assessment. Key factors may include:
Applicant's age
Income and employment/business profile
Credit history and credit profile
Banking history
Existing financial obligations
Required KYC and income documentation
The final loan amount, interest rate and tenure offered will depend on the applicant's profile and L&T Finance's applicable eligibility criteria.

Features & Benefits

Loan Amount: ₹50,000 to ₹30 lakh
Interest Rate: Starting from 10.50% p.a.
Repayment Tenure: 12 to 72 months
Unsecured Loan: No collateral or guarantor generally required
Quick Approval: Eligible applicants may receive approval within 2 minutes
Online Application: Digital application process
Minimal Documentation
Direct Bank Disbursal: Loan amount can be credited directly to the applicant's bank account after approval
Multiple Uses: Medical expenses, wedding, travel, home renovation and other personal requirements

Fees & Charges

ChargeDetailsProcessing FeeUp to 4% of loan amount + applicable taxesEMI Bounce Charges₹500 for sanctioned amount below ₹5 lakh; ₹1,000 for ₹5–30 lakhLate Payment / Penal ChargesUp to 2% per month on overdue EMI + applicable taxesPart PrepaymentUp to 5% of prepaid amount + applicable taxesForeclosureUp to 5% of principal outstanding + applicable taxesAnnual Maintenance ChargesNilLoan CancellationNil during 3-day cooling-off period; charges may apply thereafterDocument ChargesNil for Statement of Account, Repayment Schedule, Foreclosure Letter and Welcome Kit
Actual applicable charges will be as mentioned in the Key Fact Statement (KFS) and loan agreement

Documents Required

Depending on the applicant's profile, L&T Finance may require:
Identity & Address Proof
PAN Card
Aadhaar Card
Driving Licence
Passport
Voter ID
Other accepted address/identity documents
Income & Banking Documents
Income proof
Bank statements
Salary/income-related documents, as applicable
ITR and other business documents for eligible self-employed applicants
The exact documentation may vary according to the applicant's employment and income profile.

FAQs

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Eligible applicants can apply for a personal loan of up to ₹30 lakh.

L&T Finance Personal Loan interest rates start from 10.50% p.a., subject to eligibility and credit profile.

The repayment tenure can be up to 72 months.

The Personal Loan is unsecured, so collateral or a guarantor is generally not required.

Yes. L&T Finance provides personal loan options for eligible self-employed applicants, subject to its applicable criteria and documentation requirements.

L&T Finance states that eligible applicants may receive approval within 2 minutes, subject to verification and fulfilment of applicable conditions.

The loan can be used for various personal requirements, including medical expenses, weddings, travel, home renovation and other financial needs.

Terms & Conditions

Loan approval is subject to L&T Finance's eligibility and credit assessment.
The final interest rate, loan amount and tenure depend on the applicant's profile.
Applicable fees and taxes will be charged as per the prevailing schedule.
Prepayment and foreclosure charges may apply as per the applicable loan terms.
The exact charges applicable to a borrower will be stated in the KFS and loan agreement.
Disbursal is subject to successful completion of KYC, verification and other applicable formalities.
Terms and conditions apply.

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