L & T Home Loan – Interest Rates 2024, Eligibility
Discover the best home loan features offered by L&T Finance including flexible repayment options, low interest rates, and quick approval process.
Highlights of L & T Finance Home Loan
Interest Rates starts from 8.60% p.a.
Loan amount upto 7.5 Crore
Tenure upto 25 Years.
Apply for Home Loan
Key Features of L & T Home Loan
Maximum loan tenure of upto 25 years.
Get home loans up to 90% of the property value.
You can avail loans ranging from Rs. 20 lakhs to Rs. 7.5 crores.
Self Employed Applicants – Home Loan to Self Employed Customers starting at 8.75%* rate of interest.
Floating home loan interest rates option available
Eligibility criteria for L & T Home Loan
Indian resident
Age: 23 years and upto 62 years on loan maturity
Eligibility can be increased by adding other sources of income (Rent, Co-applicant’s income, other regular source of income)
Salaried or self employed professionals & non-professionals resident
Fees & Charges of L & T Home Loan
| Charge Type -Home Loans /LAP | Details |
|---|---|
| Processing Fee | Upto 3% on Sanctioned Amount + applicable taxes |
| Repayment bounce charges | Rs.1,000/- + applicable taxes |
| Late payment interest | 3% per month on overdue EMI |
| Annual Maintenance charges | NA |
| Duplicate NOC charges (Charge is applicable for paper copy post 3 free copies per customer) | Rs 250/- + applicable taxes |
| Repayment swap charges ( per swap) | Rs 500/- + applicable taxes |
| Additional documents charges -SOA/RPS/FC letter /Interest Certificate | Nil |
| Valuation Charges | As per actuals |
| Documentation Charge | As per actuals |
| Cash pickup charge | Nil |
| Interest Rate Conversion Charge | Rs. 1000+GST |
| List of documents | Rs. 300/- +applicable taxes |
| Providing Photo copies of the documents | Rs. 500/- +applicable taxes |
| Charges incurred by LTFL for initiating action under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002 | · Issue of Loan Recall Notice = Rs. 500/ – · Issue of Demand Notice = Rs. 1,000/ – · Issue of Possession Notice = Rs. 2,000/ – · Applying District Magistrate Order = Rs. 8,000/ – · Taking Physical possession = Rs. 20,000/ – Actual cost incurred will be debited for expenses pertaining to Publication of Possession Notice / Publication Demand Notice / Publication of Sale cum Auction Notice. |
| Legal / Recovery Charges (Other than pertaining to SARFAESI) | As per actuals |
| Loan Cancellation Charges | Rs. 5000/- + applicable taxes |
| Recovery of proportionate actual expenses from disbursement date(s), from individual borrower(s) in | • Home Loan – Upto 0.75% of total disbursed loan amount + applicable taxes in case of closure within 18 months • LAP – Upto 1% of total disbursed loan amount + applicable taxes in case of closure within 24 months |
| Foreclosure / Full Prepayment Charges – Home Loan | For Individual Borrowers – • Floating Rate – Nil Charge • Fixed Interest Rate – other than own source of funds. • Less than 1 year from disbursement – upto 3% on principal outstanding + applicable taxes • Post 1 year of disbursement – upto 2% on principal outstanding + applicable taxes For Non – Individual Borrowers – (Applicant/Co – applicant) • Fixed & Floating rate loan – • Less than 1 year from disbursement – upto 3% on principal outstanding + applicable taxes • Post 1 year of disbursement – upto 2% on principal outstanding + applicable taxes |
| Pre-payment Charges – Home Loan | For Individual Borrowers – • Floating Rate – Nil Charge • Fixed Interest Rate – other than own source of funds. • Less than 1 year from disbursement – upto 3% on Partial / Prepayment amount + applicable taxes • Post 1 year of disbursement – upto 2% Partial / Prepayment amount + applicable taxes For Non – Individual Borrowers – (Applicant/Co – applicant) • Fixed & Floating rate loan – • Less than 1 year from disbursement – upto 3% on Partial / Prepayment amount + applicable taxes • Post 1 year of disbursement – upto 2% Partial / Prepayment amount + applicable taxes |
