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L&T personal Loan

L&T personal Loan


Max Tenure

24 to 48 Months.

Best Rate

11% to 19%

Processing Fee


View Details


  • 100% Online Process.
  • No Foreclosure Charges.


  • Interest rate – 0.92% p.m.
  • Processing fee – Upto 2.25%.

Documents Required

  • ID Proof.
  • Address Proof.
  • Bank Account Details with E-Mandate Facility.

Your application will be subjected to Bureau Enquiry.

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L&T Finance Personal Loan

L&T Finance personal loans offer a quick source of funding for all kinds of immediate financial needs. The entire process is completely digital with zero paperwork and quicker disbursal. You can get a loan up to 7 lakhs at interest rates starting from 12%, with flexible loan tenures of 12 to 48 months. L&T Finance provides consumer loans to borrowers to fund marriages, weddings, home repairs, medical emergencies etc. It also provides micro loans or small loans to women from low income groups to become self-sufficient.

Comparison of Personal Loan Interest Rates of Top Banks/NBFCs With L&T


Interest Rates


Interest Rates

Axis Bank

10.49% onwards

IndusInd Bank

10.49% onwards


10.49% onwards


10.50% onwards


10.50% onwards

Kotak Mahindra Bank

10.99% onwards

Tata Capital

10.99% onwards

Bajaj Finserv

11.00% onwards

Federal Bank

11.49% to 14.49%

DMI Finance

12% to 36%

L&T Finance

12% to 36%


12.96% onwards

Piramal Finance

12.99% onwards

Aditya Birla

13% onwards


15.96% onwards


27.00% onwards


Upto to 29.95%

L&T Finance Personal Loan Interest Rate

The L&T Finance personal loan interest rates start from just 12% per annum onwards. The interest rates are fixed, and there is also a minimal processing fee of 1.75% to 2% of the loan amount that is charged. The interest rate applicable depends on various factors including the borrower’s credit score, loan amount to be applied for, income, and other eligibility criteria.

L&T Finance Personal Loan Types

Consumer Loans: In this type of loan, borrowers can finance personal expenses such as wedding, education, medical needs, home renovation expenses etc. Consumer loan amounts start from 50,000 and go up to 7 lakhs

Micro Loans: Micro loans are short term loans offered to women borrowers from low income backgrounds to become self-reliant. And the lender offers 3 different types of loan schemes under its micro loan facility - L&T Finance Vikaas with loan amounts in the range of Rs. 30,000 to Rs. 40,000, L&T Finance Vishwas with loan amounts in the range of Rs 40,000 to Rs 75,000, and L&T Finance Pragati with loan amounts in the range of Rs. 60,000 to Rs 1.1 lakh.

What Are The Common Factors Affecting L&T Finance Personal Loan Eligibility?

A Personal Loan may be a short-term obligation, but lenders thoroughly examine the eligibility criteria to ensure that the loan does not default. Here are some of the factors that the lender considers when determining your eligibility for a personal loan

  • Credit Score: The most important factors in determining whether or not your personal loan will be approved are your credit score and credit report. This contains information about your EMI and credit card payments (including any late or missed payments), balance due, any changes to your total credit limit, and any other pertinent information. A basic mathematical formula is used to calculate your credit score based on all of this information. The credit score is a measurement of your past and current credit behavior that prospective lenders can use to determine your creditworthiness. Your credit score will be high if you have a good track record of making all of your payments on time and in full. If you have a history of missing payments or overusing credit, it can hurt your credit score.
  • Employment Type and Employer: Your employment status is also considered during the loan approval process. Because personal loan borrowers do not have any assets to pledge as collateral, lenders see whether you have a consistent monthly income throughout the loan's term, allowing you to make timely payments. That is why they are worried about your job situation. They'll consider whether you've had consistent employment and if you've been in the same place for an extended period of time.
  • Your Salary: Another important consideration is the average income. Because there is no collateral, the lender wants to know that you have sufficient income (from salary and other sources) to make your monthly payments. The higher your income, the more likely you will be approved for a personal loan.
  • Existing loans & liabilities: Lenders will look at your credit report to see if you have a track record of financial stability and on-time EMI payments. If they see that you have made regular payments and fulfilled your debt obligations, they are more likely to consider your loan request favorably.

L&T Finance Consumer Loans

Key Highlights of The L&T Finance Consumer Loan

Loan Amount: From Rs. 50,000 to Rs. 7,00,000

Loan Repayment Tenure: 12 to 48 months

Interest Rates Starting from 12%

Processing Fee: 1.75% to 2% of the loan amount

Quick disbursal with Nil paperwork

Loans for both salaried and self-employed professionals

No income proof needed to get a loan

No collateral or security

Eligibility Criteria For L&T Finance Consumer Loans

Residential Status

Indian Citizens with a valid ID proof


23 to 57 years


Across all major indian towns and cities

Credit scores

Credit scores may be considered for personal loan eligibility. A credit score of 750 plus is generally considered excellent by all lenders

Documents Required For L&T Finance Consumer Loans

  • A valid ID proof
  • Aadhar Number
  • PAN Number
  • Current address proof such as passport, driving license, aadhaar, voter ID, electricity bills, and water bills
  • Municipal/Property Tax Receipt, National Population Certificate, Mobile Postpaid Bill, or Job Card by NREGA.
  • Bank details
  • If you want up to Rs. 7 Lakhs, you can apply online without any income proof

Fees and Charges for L&T Finance Consumer Loans

Processing fees

Up to 2% of principal outstanding plus applicable taxes

Repayment bounce charges

Rs. 350 plus applicable taxes (If any)

Annual maintenance charges


Legal/Recovery Charges

As per actuals

SOA/RPS/FC letter & other documents


Late payment Interest

3% per month on overdue EMI

Part Prepayment Charges

Up to 5% of prepaid amount plus applicable taxes

Part prepayment of up to 25% allowed twice per year

Foreclosure Charges

5% of outstanding principal amount plus applicable taxes

Repayment Swap Charges (Per swap)

Rs. 500 plus applicable taxes

Duplicate NOC charges (Applicable per copy after 3 free copies per customer)

Rs. 250 plus applicable taxes

L&T Finance Micro Loans

Key Highlights of The L&T Finance Micro Loans

Loan amount: 30,000 to Rs. 1,10,000

Loan repayment tenure: between 24 to 36 months

Interest rate: 24% on reducing balance

Processing fees: 1% of loan amount plus taxes as applicable

Pay your loans in easy monthly EMIs

Collateral free loans

Minimal documentation with only KYC documents of customer and co-applicant

Know your loan eligibility immediately

Loan amount disbursed to your bank account directly

Eligibility Criteria for L&T Finance Micro Loans

Customer segment

Women borrowers

Age criteria

20 years to 60 years


Across India

Documents Required For L&T Finance Micro Loans

  • Aadhaar Card
  • Voter ID/MGNREGA card/Ration card

Product Schemes For L&T Finance Micro Loan Customers

1. L&T Finance Vikaas

  • Loan Amount : Rs. 30,000 to Rs. 40,000
  • Tenure: 24 months
  • Loans under this scheme are offered to first time L&T consumers

2. L&T Finance Vishwaas

  • Loan Amount: Rs. 40,000 to Rs. 75,000
  • Tenure - 24 to 33 months
  • Loans are offered to regular L&T Finance customers who have completed 12 EMIs of existing loan

3. L&T Pragati

  • Loan Amount: Rs. 60,000 to Rs. 1,10,000
  • Tenure: 36 months
  • Special high ticket loans given exclusively to L&T Finance customers who have paid 12 EMIs of the current loan

Fees and Charges for L&T Finance Micro Loans

Processing fees

1% of loan amount plus applicable taxes

Repayment bounce charges


Annual maintenance charges


Legal/Recovery Charges

As per actuals

SOA/RPS/FC letter & other documents


Late payment Interest


Foreclosure Charges


Repayment Swap Charges (Per swap)

Rs. 500 plus applicable taxes

Duplicate NOC charges (Applicable per copy after 3 free copies per customer)

Rs. 250 plus applicable taxes

How To Apply For L&T Finance Personal Loans?

Online Through CreditMantri

  • The application page will open
  • Fill in the basic details like the Email ID, loan amount required, date of birth, mobile number, residence city, residence pincode, marital status, and gender.
  • Tick all checkboxes for agreement terms.
  • Click on “Submit”
  • Enter the OTP you get on your registered mobile number.
  • Proceed with the rest of the application and your application will be processed in no time.

Online Via The L&T Finance Website

  • Go to the official website of L&T Finance
  • Click on ‘Our Products’
  • Choose consumer loans
  • Click Login
  • After logging in, fill up the online form by providing the following information
    • First Name
    • Last Name
    • Email
    • Mobile Number
    • City
  • Check the check box for getting updates, alerts, notifications, and other loan details.
  • Click on the ‘Submit’ button to complete the L & T personal loan application process

L&T Finance Personal Loan Customer Care Number

L&T Finance has a dedicated customer care team in place to help you with queries regarding the L&T Finance personal loan products. Here are the numbers for specific products and services

L&T Finance Personal Loan customer care number or consumer loans customer care number

+91 7264888777

L&T Finance Two Wheeler Loan customer care number


Micro Loans

+ 9118002587702

Housing/Real Estate Finance


SME Finance

+91 9158004777

Equipment Finance


L&T Finance Personal Loan Status Check

After you apply for a personal loan with L&T, you will want to know about your personal loan application status. You will want to know whether the loan is approved, rejected, or under process. You can track your personal loan application through the following ways:

  • Official website of the lender: Select customer support and then choose customer servicing. Choose consumer loans, loan details, and then check your loan status by entering your PAN, mobile, or LAN number.
  • Through customer care: Email at or call the L&T personal loan contact number on +91 7264888777.

For more information on how to check your L&T Finance personal loan status, go to

L&T Finance Personal Loan Statement

A personal loan statement provides you with many important details about your loan. You can get the L&T Financial loan statement by emailing to the lender at You will have to specify your loan account number in the email.


L&T Finance offers a hassle free and completely digital process of getting a personal loan. Apply for the loan through CreditMantri and enjoy the benefits. Before you apply, do a free credit score check on CreditMantri and download your credit report.

FAQs Of L&T Finance Personal Loan

1. How much loan can I get with L&T Consumer Loan?

You can get up to Rs.7 lakhs personal loan with L&T Consumer Loan

2. What is the interest rate on L&T Consumer Loan?

Interest rates start at 12% p.a.

3. How can I repay the loan?

You can repay the loan via ECS or NACH mandate with tenures of up to 48 months.

4. Can I make part payments or foreclose my loan?

Yes, you are allowed to make a maximum of 25% of the loan amount as part-payment, twice in a year. Once you have completed 6 EMIs, you can foreclose the loan.

5. What is the processing fee on the loan? Are there other fees or charges to be paid?

The processing fee is around 1.75% - 2% of the loan amount. There are no other fees or charges to be paid to get this loan.

6. How to download the L&T Loan Statement?

You can download your L&T loan statement by sending an email to L&T Finance at, specifying your loan account number. You can also contact L&T Personal Loan customer care number on +91 7264888777.

7. How Can I check my L&T EMI online?

You can check the L&T EMI online by using the L&T Finance EMI calculator on the lender’s website. To do this, open the EMI calculator page, enter the required loan amount in rupees, enter the interest rate per annum in percentage, and enter the loan tenure in months. As soon as you enter all the details, your EMI will be computed and displayed on the screen immediately. To re-enter the entered loan values, you can click the ‘RESET’ button.

8. Does L&T Finance offer pre-approved personal loans?

Yes, L&T Finance offers pre-approved personal loans. The limit on L&T Finance pre-approved personal loans is Rs. 7 lakhs. You can contact L&T Finance personal loan at +91 7264888777 to know more about this offer.

9. What is a consumer loan?

A Consumer Loan is an unsecured loan that can be used for various purposes such as education, home renovation, wedding, travel, and medical for general purposes.

10. Why must I take a loan from L&T Finance?

The key features of the L&T Finance consumer loan are a completely digital process, transparency, quick disbursal, no security required, and minimal documentation.

11. When Can I Apply For Consumer Loan?

Individuals in the age group of 23 to 58 years can apply for a consumer loan. He has to have all the required documents in place.

12. What is a micro loan?

Micro loan is a small business loan given to women from low income groups and help them become self-reliant.

13. What is the eligibility to qualify for renewal of micro loan?

All individuals who are currently L&T Finance customers and are paying their EMIs regularly are eligible for the renewal of their Micro Loan.

14. How much is the processing fee for micro loans?

The processing fee on L&T Finance Micro loans is 1% plus applicable taxes.

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