L&T Finance Personal Loan: Is It Right for Your Needs?



Introduction:
L&T Finance offers personal loans to meet urgent financial demands like festivals, weddings, home renovations, education, and healthcare costs. With interest rates starting at 11% and loan amounts up to ₹7 Lakhs, clients can benefit from repayment terms up to 48 months. Our completely digital, user-friendly application process positions L&T Finance as a favored option for personal loan seekers.
Explore Appealing Personal Loan Opportunities with L&T Finance
To begin the application, choose your city and locate L&T Finance. Enter your requested loan amount and monthly net salary. Authorize UrbanMoney to access your Experian credit data and agree to their terms for a seamless borrowing process.
L&T Finance Personal Loan: Detailed Overview
- Interest Rate: 12% - 20%
- Loan Amount: ₹50K - ₹7L
- EMI Per Lakh: ₹2,224 - ₹2,649
Processing Fees:
- Consumer Loan: Up to 2% of the outstanding principal plus taxes
- Micro Loan: 1% of the loan amount plus taxes
Pre-Payment Charges:
- Part Prepayment: Up to 5% of the prepaid amount plus taxes (Part prepayment up to 25% allowed twice a year)
- Foreclosure: 5% of the outstanding principal plus taxes; none for Micro Loans
Advantages of Choosing L&T Finance Personal Loan
- Competitive Rates: Enjoy economical interest rates.
- Flexible Amounts: Loans tailored to various fiscal needs.
- Convenient Repayments: Flexible repayment choices align with your finances.
- Fast Processing: Rapid loan processing ensures timely funding.
- Minimal Documentation: Simple application with minimal paperwork.
- Customized Solutions: Terms tailored to distinct financial needs.
- Transparency and Ethics: Committed to transparent procedures.
- Dedicated Support: Customer service for any inquiries.
- Online Management: Access loan details via an online portal.
- Security and Privacy: Ensuring personal and financial information safety.
Eligibility and Required Documents for L&T Finance Personal Loan
Eligibility for an L&T Finance Personal Loan is determined by factors like age, income, employment status, and credit history:
- Age: 21 - 60 years or retirement age, whichever is earlier.
- Employment Type: Open to salaried and self-employed professionals.
- Income: Steady income demonstrating repayment capability.
- Credit History: A strong credit score and history enhance approval prospects.
- Documentation: Includes identity, address, income and employment proof, bank statements, and passport photos.
EMI Computation for L&T Finance Personal Loans
Calculate EMI using the formula:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
(P: Principal, R: Rate of Interest, N: Number of Installments)
The Urban Money EMI Calculator helps simplify calculations by inputting the principal, interest rate, and loan duration for immediate results.
Applying for L&T Finance Personal Loan
- Visit Urban Money's website.
- Verify eligibility by submitting vital details like employment type, income, age, and desired loan amount.
- If eligible, accurately fill out the application form.
- Collect and securely upload necessary documents.
- Urban Money will review and reach out for clarifications if necessary.
- If approved, receive a loan offer stating loan amount, interest rate, and charges.
- Accept the offer following Urban Money's guidelines, after which the funds are disbursed to your bank account.
For assistance, reach our customer support:
Customer Care: +91 1800 2587 702
Toll-Free: +91 915800 4777, 1800-102-0476
Chargeable: 912262125000
At L&T Finance, our personal loans are committed to satisfying your financial requirements. Apply today to experience flexibility, transparency, and complete support.
Glossary: MSMEs: Micro, Small and Medium Enterprises, CIBIL: Credit Information Bureau (India) Limited, MICR Code: Magnetic Ink Character Recognition, RTGS: Real-Time Gross Settlement, IMPS: Immediate Payment Service, NEFT: National Electronic Funds Transfer, NBFCs: Non-Banking Financial Companies, TDS: Tax Deducted at Source, KYC: Know Your Customer, RBI: Reserve Bank of India, NSE: National Stock Exchange, BSE: Bombay Stock Exchange, UX: User Experience, NPAs: Non-Performing Assets, NRI: Non-Resident Indian, OD: Overdraft, EBLR: External Benchmark Lending Rate, MCLR: Marginal Cost of Funds Based Lending Rate, FATCA: Foreign Account Tax Compliance Act, OECD: Organisation for Economic Co-operation and Development, PPF: Public Provident Fund, EPF: Employees Provident Fund, UPI: Unified Payments Interface.



