Home Loan!

L&T Finance Complete Home Loan provides a complete solution for homeowners, offering home decor finance, a dedicated relationship manager, and a digitized process. Designed with convenience and personalized assistance in mind, it caters to the specific needs of homeowners who prioritize efficiency and convenience in their home loan experience.

The digitized process, known as Xpress Home Loan, is a Do It Yourself (DIY) Customer loan Onboarding journey where customers can complete the entire process online, from application to loan disbursement. Aimed at new home buyers seeking fresh home loans or balance transfers, including both under-construction and ready properties, this streamlined process is currently available for Salaried Customers. Apply Now or Call us on 9004555111.

A dedicated relationship manager for a home loan plays a crucial role in enhancing the customer service experience for borrowers. They act as the primary point of contact between the borrower and the financial institution, providing personalized service and expert guidance during the process of securing a home loan. They offer tailored assistance, address queries, and ensure a smooth and efficient journey for the borrower.

We shall intimate such changes in EMI as and when there is a change. Please note that the new loan EMI would be dependent on the number of years that are remaining for your loan and your rate of interest. Please contact your home loan servicing branches for more information on the exact EMI.

All loan repayment are done via equally monthly instalments.

There is fixed component of login fees of 4999/- non-refundable (exclusive of service tax) along with processing fees:

Minimum processing fee for Home Loan is 0.25% plus taxes for salaried.

Minimum processing fee for Home Loan is 0.25% plus taxes for self employed.

Though this may vary from case to case basis depending upon customer profile

LTF assesses a customer's repayment capacity based on various criteria - including income, age, qualifications, number of dependents, spouse's income, assets, liabilities, stability and continuity of occupation, savings history, etc.

Repayment tenure is the tenure for the number of year for which the loan gets sanctioned. We offer you a wide range of options for the tenure of the loan. You can take a home loan for up to 30 years provided you do not reach more than the age of 62 years or retire within that period for salaried borrower. You can take a home loan for up to 20 years provided you do not reach more than the age of 70 years or retire within that period for Self employed borrower.

Yes, you can always go ahead with this option, in which your complete EMI charge to you will be of total sanction loan. In which the Interest portion will be charged on the partly disbursed amount to you & Rest will be Principal portion.

The total interest payable by you i.e. inclusive of the interest amount would qualify for deduction under Section 24 for Income Tax purpose up to overall limit of ₹ 2,00,000. So you will continue to enjoy the tax benefits.

Principal repayments would qualify for deduction from taxable income under Section 80C up to overall limit of ₹ 1,50,000/-. According to the Finance Budget 2014, those availing a Home Loan in the Financial Year 2014 - 2015 are eligible for an additional deduction of ₹ 1 Lakh from the Gross Annual Income in addition to the deductions mentioned above subject to the following conditions:

Please refer to our SFC – Schedule of Fees and Charges.

Please refer to our SFC – Schedule of Fees and Charges.

It is not possible for us to predict future interest rate movement.

You may apply for the same at the nearest branch OR call our customer care number.

The Home loan floating rate of interest is linked to L&T finance retail prime lending rate (RPLR) .The RPLR is a benchmark rate fixed by the Competent Authority, after taking into consideration various components like cost of funds, interest rates prevailing in the market, cost of operations and provisioning requirements etc. among others. The RPLR is 18.10%. The same is subject to change from time to time.

Top Up loan will be at a rate different than the original home loan rate. For further clarification please contact our call centre.

Top Up loan computation is subject to the customer's current credit profiling, repayment track record and the current valuation of the property. Kindly get in touch with our Sales Representative for further details.

You could get additional loan in your existing loan subject to your repayment history and credit norms of the company. Kindly get in touch with our Sales Representative for further details.

One should seek clarifications regarding the fees for processing the Loan, prepayment charges, spread, i.e., the difference between the RPLR and the rate actually charged on the Loan, charges for conversion from one loan rate structure to the other and the reset period clause for the floating rate Loans.

In terms of Chapter XX C of the Income Tax Act, 1961, the Central Government has the first option to purchase certain immovable properties exceeding certain value and as such transactions covered by this Chapter can be proceeded with only after complying with the requirements prescribed therein.

In many states in India, the Agreement for Sale between the builder and the purchaser is required by law to be registered. You are advised, in your own interest to lodge the Agreement for Sale for registration within four months of the date of the Agreement at the office of the Sub-Registrar appointed by the State Government, under the Indian Registration Act, 1908.

Yes, you will have to insure property for fire and other appropriate hazards, as required by the lender during the Loan tenure. The lender will be the beneficiary of the insurance. You will also have to produce proof / evidence, whenever required by the banks.

The security for the Loan is a first mortgage of the property to be financed, normally by way of deposit of title deeds and / or such other collateral security as may be necessary.

Interim security may be additionally required, if the property is under construction. Collateral or interim security could be assignment to LTF of life insurance policies, the surrender value of which is at least equal to the Loan amount, guarantees from sound and solvent guarantors, pledge of shares and such other investments that are acceptable to LTF.

Please do ensure that the title to the property is clear, marketable, and free from encumbrance. To elaborate, there should not be any existing mortgage, loan, or litigation, which is likely to affect the title to the property adversely.

There is one part pre-payment option available for each quarter.

Yes, Home Loan customers, for floating Rate of Interest can repay the Loan ahead of schedule by making lump sum payments or choose our Part Pre-payment Option at charges as per fee mentioned in SFC.(Schedule Fee & Charges).

Yes. A co-applicant is mandatory for availing home loan.

For Home Loan: If the loan amount is less than or equal to ₹ 30 lacs, it is the minimum of [90% of COP (Cost of Property) or 85% of market value] and if the loan amount is greater than ₹ 30 lacs, it is the minimum of [80% of COP (Cost of Property) or Market value].

The tenure should be a minimum of 3 years. For Home Loan, the tenure is up to 25 years and for LAP the maximum tenure is upto 15 years depending on customer profile.

3 Yrs in same line of business For Self employed non professional, CS, CWA, Engineer, Architects, BAMS, BHMS, BDS - 5 Yrs in same line of business.

The minimum loan amount for HL is ₹20 lacs and for LAP it is ₹25 lacs. For Balance Transfer corresponding limits will apply. Maximum loan amount is subject to credit appraisal.

Age of 23 years and upto 62 years on loan maturity for Salaried, 25 years and upto 70 years on loan maturity for Self employed non professional and professional.

The first PEMI is payable by cheque by the 7th of the month in which the disbursement is made and each subsequent PEMI at the 7th of every month through ECS facility till the commencement of EMI.

In the case of part disbursement of the loan, monthly interest is payable only on the disbursed amount. This interest is called pre-EMI interest (PEMI) and is payable monthly till the final disbursement is made, after which the EMIs would commence.

Tenure change is the default option. From customer ease point of view, we understand that Tenure change remains the preferred method, but wherever required we might change EMI, we will intimate you on the necessary change in your EMI.

Our EMI payment cycle is the 7th of the month for fully disbursed cases.

We have direct debit instructions such as Electronic Clearing Services (ECS). There is no other option for paying EMI*. ECS is mandatory."

We are committed to giving the best in class service. We will ensure the fastest turnaround time for processing the loan is 6-10 working days ensuring faster TAT. Subject to complete documentation and due diligence.*

A Co-Applicant(s) is/are the Co-Owners of the property in respect of whom the financial assistance has been sought. However all co-applicants need not be co-owners. Usually co-applicants are: husband/wife, father/son, mother/daughter etc.

To increase your eligibility you can include other sources of income (Rent, dividend, agriculture income, bonus, monthly incentive) or you can also include a co-applicant income.

Age of 23 years and upto 62 years on loan maturity for Salaried, 25 years and upto 70 years on loan maturity for Self employed non professional and professional.

The different types of Home Loans available from LTF are as follows:
Home Purchase Loan: This is the most common loan for purchasing a flat/independent home
Home Construction Loan: This loan is available for construction of a new home
Composite Loan: Composite Loan is a loan given for purchase of a plot of land as well as for construction of a house on it
Home Improvement and Extension Loan: Home Improvement Loan is given for carrying out repairs and renovations in a house and home extension loan is given for expanding or extending an existing home. For example, addition of an extra room, an extra floor, etc.

Switching from the floating rate scheme to the fixed rate scheme and vice versa is permissible. A fixed rate customer can also reschedule the loan to a lower fixed interest rate when interest rates fall. Charges for changing from fixed to floating rates of interest is as per SFC (Schedule of Fees and Charges).

Home Loan can help you secure the home you've always wished for. Additionally, it can also allow you to renovate, refurbish or redo your home, exactly the way you want.

Home Loan can help you secure the home you've always wished for. Additionally, it can also allow you to renovate, refurbish or redo your home, exactly the way you want.