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L&T Finance Personal Loan

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Apply for L&T Finance personal loan online on Paisabazaar at an interest rate starting from 11% p.a. Avail collateral-free digital personal loan of up to Rs. 30 lakh with repayment tenure up to 6 years. Personal loans offered by the NBFC can be availed by both salaried and self-employed individuals with digital application procedure, minimal documentation and hassle-free loan process.

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Updated: 22-04-2025 12:50:59 PM

L&T Finance has tied-up with Paisabazaar to offer pre-approved personal loans to its existing and eligible customers with instant approvals and quick disbursals.

L&T Finance Personal Loan – Highlights
Interest Rate 11% p.a. onwards
Loan Amount Up to Rs. 30 lakh
Repayment Tenure From 1 year to 6 years
Processing Fees Up to 3% of Loan Amount + applicable taxes
Top Up Loan Available for eligible customers

Note: Interest Rates updated as of 22 April 2025.

Personal loans offered by L&T Finance can be used for various purposes, such as medical emergencies, home renovation, wedding, vacation, education, debt consolidation, etc.

L&T Finance Personal Loan Interest Rates in 2025

L&T Finance offers personal loans at an interest rate of 11% p.a. onwards. The personal loan interest rates for L&T Finance usually depend on several factors, such as applicant’s credit score, income, employment stability, employer’s profile and existing relationship with the NBFC.

Eligibility Criteria

​To be eligible for a personal loan from L&T Finance, applicants must meet the following criteria:

  • Residency: Indian resident
  • Age requirement: 21 years to 58 years
  • Profession: Salaried or self-employed individuals

Documents required

Find below a detailed checklist of documents required to apply for personal loan based on your employment type:​

  • Identity Proof: PAN and any one of the following, such as Aadhaar Card, Passport, Voter ID, Driving License, Job card by NREGA and Letter issued by the National Population Register containing details of name and address
  • Address Proof: Aadhaar card, Voter ID, Passport, Driving License, Last 2 months’ Utility Bills (Electricity, Telephone, Post-paid Mobile Phone, Piped Gas, Water Bill)
  • Income Proof for Salaried: Last 3 month’s salary slips, Form 16, Last 3 month’s bank statement reflecting salary credits / Salary Certificate.
  • For Self-Employed: Latest Income Tax Return (ITR) and Last 3 months’ bank statement

Note: Income proofs shall vary for different professionals across salaried and self-employed individuals.

Fees & Charges

L&T Finance applies various fees and charges to its personal loan. Below stated is a detailed representation. ​

Particular Charges
Processing Fees Up to 3% of the loan amount (Non-refundable)
Late Payment Charges 2% (p.m.) on EMI overdue
Part-payment Charges Up to 5% of pre-paid amount
Foreclosure Charges 5% of principal outstanding amount
Loan Cancellation Charges Nil – for 3 days from date of disbursal

From 4th day – 5%+ applicable taxes (on the outstanding loan amount)
Document Charges Nil for Statement of Account (SOA), Repayment Schedule, Foreclosure Letter, Welcome Kit
EMI Bounce Charges Up to Rs. 1000
Repayment Swap charges Rs. 500
Duplicate NOC Charges First 3 paper copies – free of cost

From 4th Paper copy – Rs. 250
Legal/ Recovery Charges As per actuals

Note: All fees and charges mentioned above are exclusive of taxes and shall attract applicable taxes as per prevailing laws (e.g., GST).

How to Apply for L&T Finance Personal Loan Online

To apply for L&T Finance Personal Loan Online you need to visit Paisabazaar and follow the below mentioned simple steps:

Step 1: Visit the Paisabazaar’s official website or mobile app and click on ‘Personal Loan’ section.

Step 2: Enter your mobile number in the application form and click on ‘Proceed’ to receive an OTP.

Step 3: Authenticate with the received OTP and fill in the basic details to click on ‘Proceed’.

Step 4: Check and compare from all the available offers from multiple banks and NBFCs and click on ‘Apply Now’ as per your requirements.

Step 5: Fulfil the required details from the lenders to avail personal loan.

 

FAQs L&T Finance personal loans

What are the current interest rates for L&T Finance personal loans?

The interest rates offered on L&T Finance personal loan is 11% p.a. onwards. However, the exact interest rate offered shall depend on your credit score, income, employment stability, employer’s profile, etc.

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

L&T Finance offers personal loans for loan amounts of up to Rs 30 lakh.

Can I use an L&T Finance personal loan for home renovation?

Yes, you can utilize the loan amount availed as personal loan for home renovation like painting, fencing, tiling, adding extra room, balcony, etc.

Can I get instant approval on L&T Finance personal loans?

Yes, if you are a pre-approved customer of L&T Finance then you are eligible for instant personal loan with quick disbursal and no documentation.

What is the minimum CIBIL score required for an L&T Finance personal loan?

The NBFC has not specified about the minimum CIBIL score criteria to be considered while offering personal loans. However, you should maintain a decent CIBIL score of at least 730+ to avail personal loan at competitive interest rates.

What documents are needed if I am self-employed?

If you are a self-employed professional, then you need to furnish the latest ITR and last 3 months’ bank statement.

Are there any part payment or foreclosure charges?

Yes, the part payment fees charged by the NBFC is up to 5% of the prepaid amount and up to 5% of the principal outstanding amount is charged as foreclosure charges.

How do I check the status of my personal loan application?

You can check the status of your L&T Finance Personal Loan application by calling on their customer service help-desk numbers. Secondly, you may visit any of the L&T Finance branches to check the status of your personal loan application.

 

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