Range of Interest Rate
9.75 Onwards
Processing Fee Range
0.50 % Onwards
Loan Amount
Rs 20 Lakh – 10 Crore
Range of Loan Tenure
1-18 years
Key Salient Features
- Balance Transfer
- Loan Top-Up
- Lowest Interest Rates
Documentation
- KYC– Aadhar Card and PAN Cardd
- Financial– Bank statement, Salary slips, latest form 16
- Property– Allotment Letter and Registered Sale Deed
Trivia
- The total number of branches of L and T in India is NA
- Average loan approval time is about 1 Week
USP’s
Doorstep Service
Dedicated Relationship Manager
Minimum Documentation
Fastest Sanction Process
Fee and Charges Details
- Foreclosure and Prepayment charges NIL
Disclaimer
- All intellectual property including trademarks, logos belong to the owner
Particulars | Salaried | Self-Employed |
---|---|---|
Age | 23 to 70 Years | 23 to 70 Years |
Prepayment Charges/Foreclosure | Foreclosure and Prepayment charges | Foreclosure and Prepayment charges NIL |
FAQs
It is necessary that you apply for a L and T Mortgage Loan that you need to take the following steps:
- Submit the L and T online home loan application form
- There are few documents such as KYC, Financial, and Property that need to be submitted
- It is then that this NBFC initiates the mortgage loan process that includes legal and technical verification
- The mortgage loan eligibility of yours is determined. Following which Land T provides you with a sanction letter. It includes the following details: sanctioned loan amount, interest rate, loan tenure, type of interest rate applicable, EMI payable, validity of sanction letter, special conditions (if any), and other terms and conditions
- Once all the documents are verified, a mortgage loan disbursement is raised, and a disbursement cheque is issued.
A few documents that you need to submit while applying for a L and T Mortgage Loan are given in tabular form below:
KYC Documents
KYC Documents
- The previous three months’ salary slips and
the Latest Form-16 - Latest 2 years Form 16
- IT Returns for the last three years
-
Business Profile of the Applicant
Latest 3 years ITR with Computation of Income - Balance Sheet, Profit, and Loss Account, and respective schedules
- GST Registration Certificate, GSTR-3B Returns of
latest 1 Year, and GSTR-3B Returns of latest 1 Year
Company Udhyam certificate
Property Documents
L and T provide a mortgage loan at the minimum interest rate available. Besides, they also offer you an effective and fast loan processing service. In terms of mortgage loan repayment too they ensure flexibility.
After the necessary documents you submit to secure a mortgage loan are verified L and T provides you with a quick approval providing you with a sanction letter within 17 – 15 Working days.
A minimum CIBIL score of 650 and above is what you need to secure a L and T Mortgage Loan.
The minimum mortgage loan amount that is sanctioned by L and T is Rs 20 Lakh. While the maximum mortgage loan amount is Rs 10 crore.
Many banks or other financial institutions like L and T require a co-owner to be a co-applicant for a mortgage loan. However, it is not necessary that you have a co-applicant to apply for a L and T Mortgage Loan. If you do have one it only helps in enhancing your loan eligibility and proving to your lender your ‘Creditworthiness’.
The rate of interest for L and T Mortgage Loan is Floating interest rate which is linked
to MCLR ( MARGINAL COST OF FUNDS BASED LENDING RATE )
Therefore it will change every time the repo rates get reused by the regulator.
The chances of you being eligible for a L and T Mortgage Loan improves significantly, if you have IT returns of three financial years to show. Moreover, you can secure it even if you do not have IT returns, if you are seeking a small mortgage loan amount and you have a good CIBIL score to prove that you are ‘Creditworthy’.
After applying and submitting all the necessary documents for L and T Mortgage loan it will take about 2 – 4 working days for this NBFC to disburse this mortgage loan.
There are a few important details about the L and T Mortgage Loan that you need to know that are given below:
-
Types of L and T Mortgage Loan:
There are a few types of L and T Mortgage Loan. They are as follows:
-
LAP on Residential Property:
Typically, this type of mortgage loan is provided by L and T for rented and vacant residential property.
-
LAP on Commercial Property:
This L and T mortgage loan package is offered specifically to owners of commercial property.
-
EMI Calculator
Loan Amount
₹
Rate of Interest
%
Loan Tenure (Years)
Years
Monthly EMI
₹ 21,617
Principal Amount
₹ 25,000,000
Interest Amount
₹ 23,000,000
Total Amount Payble
₹ 47,000,000
Interest Amount
Principal Amount
Apply for Mortgage Loan
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