L & T Finance - 8.00% for Home Loan - New Purchase Home Loan

L&T Housing Finance:

L&T Housing Finance is a large HFC with the lowest home loan percentage rate in India.

Currently, the bank offers the home starting from the 8.00% p.a.* with quick approval.

Home Loan in L&T Housing Finance is quite popular with its special features and attractive rates under the various L&T Housing Finance home loan schemes for different income and occupation groups.

 

Some of the Benefits of L&T Housing Finance Home Loan are:

1. L&T Housing Finance also offers pre-approved housing loans at low rates for existing bank customers with strong credit history.

2. Loan tenure of Home Loan ranges from 5 to 30 years.

3. L&T Housing Finance allows the prepayment of home loans within the nil charges on floating rate loans.

 

L&T Housing Finance Home Loan Details:

L&T Housing Finance offers multiple home loan products to its customers at low rates.

 

Below the mentioned are the details of the home loan L&T Housing Finance.

Age	Min 23 and Max 65 years for salaried Min 25 and max 65 years for self employed
Repayment Tenure	30 years
Interest Rate	8.00% p.a.*
Interest rate linked to	PLR
Processing Fee	Up to 3% of the sanctioned loan amount

 

Purpose of Loans:

L&T Housing Finance house loan is taken to purchase, construct a home renovate your existing home.

 

Key Features of L&T Housing Finance:

1. Loan available for both salaried and self-employed special rates for women borrowers.

2. Borrowers within the age group of 23 and 65 years

3. Security: Mortgage of property you are planning to purchase, renovate, or construct

4. Loan value ratio of 90%.

5. Loan tenure can range from 5 to 30 years.

 

L&T Housing Finance Home Loan:

Apply:

Apply for an L&T Housing Finance Home Loan easily on ApnaRupee.com – a channel partner for India’s top banks.
Our loan experts assist you throughout the process – from documentation to disbursal.
You can also compare L&T Housing Finance rates with other banks before choosing the best deal for your home loan needs.

 

L&T Housing Finance Home Loan Documents:

For Salaried employees:

1. Filled up the loan application form.

2. Two 2 Passport Size Photo.

3. ITR of last 2 years.

4. Identity Proof - Passport/ Driving License/ Voter ID/ PAN.

5. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport.

6. Income Documents – 6 months’ payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit.

7. Property Documents - Past title chain: Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for

Construction/ extension.

 

For Self-Employed:

1. Filled up the loan application form.

2. Two Passport Size Photo.

3. Identity Proof - Passport/ Driving License/ Voter ID/ PAN.

4. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport

5. Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account, and balance sheets certified by CA,

Copy of partnership deed and proof of business existence and business profile

6. Property Documents - Past title chain: Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension.

 

Schemes of L&T Housing Loan:

1. L&T Housing Loan

Purpose: 

For construction/purchase of a new home and improvement/extension of an already existing home

Loan Amount:

 Rs 3 lakh-Rs 10 crore

Tenure: 

Up to 30 years

 

2. L&T Home Loan Balance Transfer

Purpose: 

Transfer of existing home loan amount from other banks/NBFCs to L&T Housing Finance at lower interest rates

 

3. Composite Loan Scheme

Purpose: 

For plot purchase and home construction thereon, within a given time

 

4. Balance Transfer plus Top-up

Purpose: 

For self-employed professionals and self-employed non-professionals based on regular income programs from approved financial institutions

 

5. L&T Top-up Loan

Purpose: 

Additional loan amount on existing home loan for the purchase of consumer durables/ furniture/vehicle and meet the expenses for education, marriage, medical treatment, business, etc.

Tenure: 

Up to 20 years

 

Eligibility Criteria for L&T Housing Finance Home Loan

1. Indian resident

2. Age: 23-62 years

3. Salaried, self-employed professionals and self-employed non-professionals

4. Eligibility also depends upon the applicant’s income and repaying capacity

 

Frequently Asked Questions:

Q. What are the Documents required for home loan L&T Housing Finance?

Ans. To apply for L&T Housing Finance home loan, you will be required to submit L&T Housing Finance home loan documents

Such as home applications from the attested photographs along with the various other documents such as identity proof, bank statements, residence proof, property papers, and loan accounts statements if any.

 

Q. Which is the best L&T Housing Finance Home Loan Scheme?

Ans. Choosing the best L&T Housing Finance home loan scheme is subjective to the requirement of the home loan applicant for instance, there are different home loan offers for the purchase, construction, and renovation of a home. Thereby choosing the best L&T Housing Finance home loan scheme is based on one's needs. 

 

Q. Is L&T Housing Finance good for a home loan?

Ans. L&T Housing Finance is one of the best home loan lenders in the country.

Currently, L&T Housing Finance home loan interest rate 2023 starts at  8.75%*

 

Q. What is the benchmark Applicable for a Housing Loan?

Ans. The benchmark applicable for home loans in L&T Housing finance is PLR.

PLR is an external benchmark wherein commercial banks use the RBIs repo rate to calculate the retail loan interest rate.

In PLR the reset period is 3 months which implies that banks would revise your interest rate of RLLR-linked loans every 3 months.