L&T Finance Personal Loans: Your Gateway to Financial Freedom

L&T Finance provides personal loans to individuals by providing financial assistance to meet their personal needs. Whether funds are to be raised for wedding purposes, home renovation, planning a vacation, or meeting unexpected medical expenses. It provides customer satisfaction and provides quicker disbursal of loans. 

Salient Features of L&T Finance Personal Loans

Mentioned below are the key features of L&T Finance Personal Loan:

  • Get a repayment tenure for a personal loan ranging from 12 to 48 months.
  • Get personal loans of amounts up to INR 15 lakhs.
  • Make your personal loan repayments at an interest rate starting from 12%.
  • Get faster disbursal of loans with zero paperwork.
  • It can be availed of both by salaried and self-employed individuals.
  • Get a personal loan without any proof of income.
  • Get a personal loan without any collateral or security for personal loans.
  • Get a quicker processing of personal loans.
  • Get a simplified process of applying for a loan with minimal documentation.
  • Get customised loan solutions with tailor-made terms and conditions suiting individual requirements. 
  • Get transparent and ethical practices throughout the loan process.
  •  Get dedicated customer support to assist borrowers with queries or concerns regarding personal loans.

Documentation Required

Mentioned below is the list of documents required to be provided while applying for L&T Finance Personal Loan:

Particulars Documents Required
ID Proof:
  • Passport
  • Pan Card
  • Driver’s License
  • Voter’s ID
  • Aadhaar Card Along with recent passport-size photographs
Address Proof:
  • Ration Card
  • Passport
  • Utility bill
  • Voter’s ID card
  • Driving License
Income Proof (if required):
  • Salaried – Last 3 months’ salary slips

              – Form 16

              – Last 3 months’ bank statement reflecting salary    credits

              – Salary Certificate

  • Self-Employed – Latest Income Tax Return (ITR)
  • Bank Statement -Last 3 month’s statement is mandatory
  • Residence Ownership Proof – Not mandatory


Eligibility Criteria

Mentioned below are the eligibility parameters to be met in order to apply for L&T Finance Personal Loan:

  • In the case of Consumer Loans: 


  • An applicant must be an Indian citizen with valid proof of ID.
  • The minimum age of an applicant should be 23 years.
  • The maximum age of an applicant should be 57 years.
  • This loan can be availed across all major towns and cities in India.

  • In the case of Micro Loans:


  • An applicant must be a woman borrower.
  • The minimum age of an applicant should be 20 years.
  • The maximum age of an applicant should be 60 years.
  • This loan can be availed across India.

Processing Fees and Charges

Mentioned below are the processing fees and charges in order to apply for L&T Finance Personal Loans:

Charge Type – Personal Loans Details
Processing Fee Up to 3% of loan amount + applicable taxes
Repayment/EMI Bounce Charges
Charges in INR Loan sanction amount (INR)
500 < 5 lacs
1000 5 – 50 Lacs
1500 > 50 Lacs – 2 Cr
2000 > 2 Cr
Late Payment Interest (LPI) 2% per month on overdue EMI
*LPI revised from 3% to 2% per month on overdue EMI w.e.f. 4th Dec 2023
Part Prepayment Charges It is up to 5% of the prepaid amount + applicable taxes.
Foreclosure Charges It is 5% of the principal outstanding + applicable taxes.
Annual Maintenance Charges Nil
Legal /Recovery Charges As per actuals
Duplicate NOC Charges (Charge is applicable for paper copy post 3 free copies per customer) INR 250/- + applicable taxes
Repayment Swap Charges (per swap) INR 500/- + applicable taxes (applicable only for branch walk-ins)
Charges for documents like Statement of Account/Repayment Schedule /Foreclosure Letter & Welcome Kit Nil
Cooling-off/ look-up period during which Borrower shall not be charged any penalty on prepayment of loan 3 Days from the date of disbursement
Loan cancellation Charges post cooling off period of 3 days 5% + applicable taxes on the outstanding loan amount


Types of L&T Finance Personal Loan

Mentioned below are the 2 types of L&T Finance Personal Loan:

  • L&T Consumer Loan:

  • Purpose: L&T Finance Consumer Loan allows personal loan borrowers to procure funds for expenses related to home renovation, marriage, festivals, education and medical needs.

  • Loan Amount: INR 50,000 to INR 7 lakhs

  • Tenure: 1 – 4 years

  • L & T Micro Loan:

  • Purpose:
  1. L&T Finance Vikaas: This loan facility is offered to first-time customers of L&T Finance
  2. L&T Finance Vishwas: L&T Finance offers this micro loan facility to its repeat customers who have paid at least 12 EMIs of their existing loan
  3. L&T Finance Pragati: This loan facility is a special high-ticket loan offered to select L&T Finance customers who have paid a minimum of 12 EMIs of their existing loan
  • Loan Amount: 
  1. L&T Finance Vikaas: INR 30,000 to INR 40,000
  2. L&T Finance Vishwas: INR 40,000 to INR 75,000
  3. L&T Finance Pragati: INR 60,000 to INR 1.1 lakh
  • Tenure: 
  1. L&T Finance Vikaas: 2 years
  2. L&T Finance Vishwas: 2 years to 33 months
  3. L&T Finance Pragati: 3 years


Factors affecting the eligibility criteria of a Personal Loan

Below are the factors that affect the eligibility for a Personal Loan:

    • CIBIL Score: A CIBIL score above 720 is considered to be ideal to meet the eligibility criteria for getting an HDFC Personal Loan.
  • Income: An individual shall meet the minimum income criterion to avail of HDFC Personal Loan.
  • Repayment History: Approval of a loan becomes easier if the Applicant has a good repayment history. 
  • Employment Type: As the borrowers do not have any assets to be pledged as collateral, the lender bank will check the consistency in the monthly income 


How to Get an L&T Finance Personal Loan Statement?

Mentioned below are the steps to obtain L&T Finance Personal Loan Statement:

Step 1: Visit the official website of L&T Financial Services.

Step 2: Click the tab “Provisional IT Certificate or Final IT Certificate”.

Step 3: Next, provide the L&T Finance Personal loan statement number.

Step 4: Request an OTP, which will be received on the registered mobile number and then be used to log in.

Step 5: Now, one can download the L&T Personal Loan Interest certificate easily.

L&T Finance Personal Loan Customer Care Numbers

Type of Loan Contact Number Email Address Timings
Personal Loan (Consumer Loan) +91 7264888777 [email protected] 9 am to 6 pm (All days of the week)
Micro Loan + 9118002587702 [email protected] 9 am to 6 pm (i.e. from Monday to Saturday)


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