CreditMantri matches your credit and demographic profile to L&T Finance Home Loan lending criteria - others just match your demographic criteria. We shortlist lenders willing to lend to you based on our proprietary matching algorithm.
In effect, we pre-screen your application to make sure you are likely to qualify as per the lender’s credit criteria. We upfront check whether you qualify for L&T Finance Home Loan. Hence the chances of your L&T Finance Home Loan application getting approved is higher.
L&T Finance Limited was integrated as a Non-Banking Finance Company in the year 1994, and is a wholly owned subsidiary of L & T Finance Holdings Limited. It is promoted by Larsen and Toubro, a leading construction and infrastructure company in India.
Almost every Indian dreams of owning a home. A house offers financial stability and some peace of mind, provided you have your savings, monthly EMIs and other financials properly planned. You might be on the lookout for the perfect nest, or looking to buy a vacant piece of land to build your dream home on. Or perhaps, you are on the search for the perfect location. Or maybe, you are just looking around for something already constructed that suits your budget. Whatever the case, everyone needs that much-needed financial help when it comes to buying their home. A home loan from L&T Finance is one option to help you fund your home.
Taking a home loan is no walk in the park. It is a substantial financial commitment over many years and involves taking out a significant chunk of your income towards making your monthly EMI payments. Read on to know the features and the benefits on offer with L&T Finance home loans.
A home loan from L&T Finance could be used for the following:
L&T Finance tailors its home loan offers as per the customer’s credit worth and repayment history.
Funding is available from 3 lakhs to 10 crores, depending on the applicant’s net worth and credit history. A maximum funding up to 80% is available for loans above 20 lakhs, and 90% for loans below 20 lakhs.
Tenure of the loan: Up to 20 years or age of retirement (65 years) whichever is earlier.
The applicant should be over 22 years of age and either be a salaried or self-employed professional with the ability to make the initial down payment. He / she should have a suitable repayment capacity as assessed by L&T Finance. Co-applicants on the loan could include father / mother / brother / sister / relatives as determined by the company.
The Rate of Interest varies depending on the credit history of the applicant among other factors and is at the sole discretion of L&T Finance. For the most accurate and up to date interest rates, it is advisable to contact L&T Finance directly.
Be aware that service charges, levies, processing fees, and other taxes / fees will be charged as per the prevailing rate. The rates, fees, charges etc. are subject to revision from time to time. You may also be charged a login fee as well, which is nonrefundable. Foreclosure and part prepayment is allowed, subject to conditions.
For the Salaried:
For the Self-employed:
You will be given an application number while you apply for a home loan which you will need to keep handy for future referencing. You can contact L&T Finance customer care for help with tracking the status of your home loan application while quoting the application number.
Who is eligible to apply for a loan?
Any salaried or self-employed Indian national who is credit worthy and has a suitable net worth and repayment capacity is eligible to apply for a home loan from L&T Finance. He / she should be over 22 years of age at the commencement of the loan.
When can I apply for a home loan?
You can apply for a home loan anytime, even if you are yet to select a property or the construction of your chosen property is yet to begin.
What is the maximum amount of money I can borrow?
The maximum amount that you can borrow depends on several important factors such as your income, repayment capacity, credit history, etc. L&T Finance offers funding from 3 lakhs to 10 crores.
How is my eligibility determined?
Various factors are taken into consideration when considering eligibility including your age, income, savings, employment history, any ongoing monthly EMIs on other loans, demonstrated financial discipline, continuity of income, educational qualifications, assets, and repayment history / credit history. Loans are approved only after detailed investigations and cash flow assessment in addition to scrutiny of business financials (for self-employed).
L&T Finance offers simplified processing formalities that eases the loan application process. The process is transparent, and you can get instant approvals. L&T offers an array of finance products to suit every need and budget, and allows quick completion of the formalities once the loan is approved.