L&T Finance Personal Loan


L&T Finance offers personal loans under the name of Consumer Loans. The loan can be used for any immediate financial needs, including festivals, marriages, house renovation, education, medical expenses, etc. You can get up to Rs. 7 Lakhs as the loan amount at 11% interest rates for tenure up to 48 months. The application process is completely digital and easy, making it one of the most ideal options for individuals requiring a personal loan.

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L&T Finance Personal Loan

  • Interest Rate

    12% - 20%

  • Loan Amount

    ₹50K - ₹7L

  • EMI Per Lakh

    ₹2,224 - ₹2,649

  • Processing Fees

    • Consumer Loan: Up to 2% of principal outstanding plus applicable taxes
    • Micro Loan: 1% of loan amount plus applicable taxes
    ... more
  • Pre-Payment Charges

      Part Prepayment Charges

    • Consumer Loan: Up to 5% of prepaid amount plus applicable taxes (Part prepayment of up to 25% allowed twice per year)
    • Foreclosure Charges

    • Consumer Loan: 5% of outstanding principal amount plus applicable taxes
    • Micro Loan: Nil
    ... more

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Key Features of L&T Finance Personal Loan

L&T Finance offers personal loans with a range of key features that make it a preferred choice for individuals seeking financial assistance. Here are the key features of L&T Finance Personal Loan:

Competitive Interest Rates

L&T Finance provides personal loans at competitive interest rates, ensuring affordability for borrowers. 

Flexible Loan Amount

L&T Finance offers a flexible loan amount based on the borrower's financial requirements and eligibility. 

Convenient Repayment Options

L&T Finance understands the importance of flexibility in loan repayment. Hence, it offers convenient repayment options with flexible tenures, allowing borrowers to choose a repayment schedule that aligns with their financial capabilities.

Quick Loan Processing

L&T Finance values its customers' time and strives to provide quick loan processing. 

Minimal Documentation

L&T Finance aims to simplify the loan application process by minimising the required documentation.

Customised Solutions

L&T Finance understands that each borrower's financial needs are unique. Hence, it offers personalised loan solutions, tailoring the loan terms and conditions to suit individual requirements.

Transparent and Ethical Practices

L&T Finance upholds transparency and ethical practices throughout the loan process. 

Dedicated Customer Support

L&T Finance provides dedicated customer support to assist borrowers with any queries or concerns they may have regarding their personal loans.

Online Account Management

L&T Finance offers online account management facilities, allowing borrowers to conveniently access loan-related information, check repayment schedules, and make online payments.

Security and Privacy

L&T Finance prioritises the security and privacy of its customers' personal and financial information.

L&T Finance Personal Loan - Overview

L&T Finance offers personal loans to individuals who require financial assistance for various personal needs. Whether it's funding a wedding, renovating a home, planning a vacation, or managing unexpected medical expenses, L&T Finance's personal loans provide a convenient solution. L&T Finance values customer satisfaction and provides quick loan approvals, often within a few business days. The loan disbursal is equally prompt, ensuring borrowers can easily access the necessary funds.

L&T Finance Personal Loan Fees and Charges

The fees and charges for L&T personal loan application are as follows:

Particulars Rates
Fees for Loan Processing Loan for Consumers: Up to 2% of outstanding principal amount + taxes Micro Loan: 1% of the amount of the loan + taxes
Charges for Payment Bounce Loan for Consumers: Rs 350 + taxes (if any) Micro Loan: Nil
Interest on late payment Loan for Consumers: 3% each month on the EMI, which is overdue. Micro Loan: Nil
Charges for part prepayment Loan for Consumers: Up to 5% of the amount which is prepaid + taxes (Part prepayment of around 25% is allowed twice per year)
Charges for Foreclosure for Loan Loan for Consumers: 5% of the principal amount is outstanding + taxes Micro Loan: Nil
Annual Maintenence Charges Nil
Legal /Recovery charges As Applicable
Charges for Duplicate NOC Rs 250 + taxes
Charges for repayment swap (per swap) Rs 500 + taxes
SOA/RPS /FC letter & other documents Loan for Consumers: Nil Micro Loan: Nil

L&T Finance Personal Loan Documentation

 When applying for an L&T Finance Personal Loan, applicants are required to provide certain documents as part of the documentation process. These documents are necessary to verify the applicant's identity, income, employment details, and other relevant information. Here are the general documents typically needed for an L&T Finance Personal Loan:

Identity Proof

Applicants need to provide valid proof of identity, such as a PAN card, Aadhaar card, passport, or driver's license.

Address Proof

A document verifying the applicant's residential address is required. This can be a utility bill (electricity, water, gas, etc.), bank statement, rental agreement, or any other document recognised by L&T Finance.

Income Proof

Applicants must provide documents to validate their income. For salaried individuals, this typically includes salary slips, bank statements, and Form 16. Self-employed individuals and businessmen may need to provide income tax returns, balance sheets, profit and loss statements, and other relevant financial documents.

Employment Proof

Salaried applicants need to submit proof of their employment, such as a current employment certificate, offer letter, or appointment letter. Self-employed individuals and businessmen may need to provide business registration documents, partnership deeds, or other relevant documents.

Bank Statements

Applicants are usually required to submit bank statements for the past few months to verify their financial transactions and repayment capacity.

Passport-sized Photographs

Recent passport-sized photographs of the applicant are typically required for identification purposes.

How Does the EMI Calculation Work for L&T Finance Personal Loans?

Borrowers can repay the principal loan amount within 24 months in the form of EMI. The EMI can vary depending on the monthly budget and paying abilities. 

The primary formula for manually calculating monthly EMI is as follows:

EMI = [P x R x (1+R)^N]/[(1+R)^N-1] 

Here, every character has a different meaning. They are as follows:

  • EMI means Equated Monthly Instalments
  • N means Number of Monthly Instalments
  • P means Principal Amount
  • R means Rate of Interest

Apart from the manual calculation, you can ease your work using the Urban Money EMI Calculator. Simply enter the principal amount, interest rate and tenure of the loan and press the Enter button. The results will be displayed on your screen.

How to Apply For L&T Finance Personal Loan 

To apply for a personal loan through Urban Money, you can follow the steps below:

Step 1: Visit the Urban Money Website.

Step 2: Look for the loan eligibility check option on the website. Provide the required details, such as your employment type, income, age, and loan amount desired. This step will help you determine if you meet the initial eligibility criteria for a personal loan.

Step 3: If you are eligible, complete the online application form. Provide accurate and complete information, including personal details, contact information, employment details, income details, and any other information required by Urban Money.

Step 4: Gather the necessary documents as specified by Urban Money. These may include proof of identity, address proof, income proof, bank statements, and any other supporting documents.

Step 5: Scan or take clear photos of your documents and upload them securely through the Urban Money website or mobile app. Ensure the documents are legible and in the required format (PDF, JPEG, etc.).

Step 6: Urban Money will review your loan application and documentation. They may contact you for any additional information or clarification if needed.

Step 7: If your application meets the eligibility criteria and is approved, Urban Money will provide you with a loan offer. This offer will include details such as the loan amount, interest rate, repayment tenure, and any applicable fees or charges.

Step 8: If you are satisfied with the loan offer, accept it as per the instructions provided by Urban Money. The loan amount will be disbursed to your registered bank account upon acceptance.

L&T Finance Personal Loan Customer Care Number

You can contact the L&T Finance Personal Loan customer care at the following numbers:

  • Customer Care: + 91 18 00 2587 702
  • Toll-Free Number: +91 91 5800 4777 and 1800-102-0476
  • Chargeable Call Centre Number: 912262125000


From refinancing to reducing your interest, we have the answers right here.

Does L&T Finance have a fixed rate of interest on a personal loan?

L&T Finance provides personal loans at a fixed rate of interest.

Does L&T Finance check for CIBIL Score for personal loans?

For microloans, L&T Finance does not require any CIBIL score. However, if L&T provides a personal loan to its employee, they want the CIBIL score to be 750 or more.

What is the maximum personal loan amount I can get from L&T Finance?

The maximum loan amount that one can get from L&T Finance is Rs. 7 Lakhs.

What are the documents women have to submit to apply for a personal loan from L&T Finance?

Women have to submit their income proof and Aadhaar card, PAN card, or ration card to apply for an L&T Finance Personal Loan.

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