L&T
Home Loan

Highlights of L & T Housing Finance Home Loan are as below:

Following are the features and Benefits of L & T Housing Finance Home Loan:

• Loan amount: Up to 90% of the property; Rs. 20 lakh to 7.5 crores
• L & T Housing Finance Home Loan interest rates are levied 8.65% p.a.
• Repayment tenure: Up to 25 years
• L & T Housing Finance Home Loan Processing Fees is nominal, starting from 0.5% of the loan amount
• Lowest EMI possible: Rs. 776 Per Lakh
• A range of home loan products
• User-friendly application process.
• Efficient processing and quick approvals.
• Simple documentation.
• Attractive rates of interest on home loan.
• Registration and stamp duty can be included as project cost.
• Tranche-based EMI and part-payment schemes available.
• Balance Transfer and Top-Up facility are available.

Let’s compare HDFC bank home loan rates with ROI offered by other banks-

LTHFL offers various kinds of loans to salaried and self-employed individuals depending on their eligibility.

L&T Housing Finance Home Loan

Purpose of the loan: You can apply for LTHFL Home loan for following purpose:

1. Construction of house on land.
2. Purchase of a new house or flat.
3. Buying second-hand flat or house.
4. Repairs, renovations, and improvements to existing home.
5. Extension of your house such as adding another room or floor subject to availability of FSI.
6. Transfer your existing home loan to LTHFL and get the benefit of attractive interest and top-up options.

The Composite Loan Scheme allows you to take plot loans for purchase and construct a house thereon. LTHFL refinances the plot amount on commencement of the construction after receipt of the sanctioned plan. The condition is that you should complete the construction of the house within a specified period.

Features of the Home Loans offered by LTHFL

1. Extended loan tenure up to 30 years.
2. Minimum loan amount  3 lakhs
3. Maximum loan quantum  10 crore
4. Loans up to 90% of the value of the
5. Attractive rates of interest.
6. Facility to choose between fixed and floating interest rate.
7. Flexible repayment options such as Tranche-based EMI.
8. Facility of part-payment available.
9. Stamp duty and registration charges included in the loan amount.
10. Income-based products offering such as Gross Receipt Product, Gross Margin Product, and Banking Based Product.
11. Loan tenure depends on the age and repayment capacity of the borrower.

Eligibility Criteria

1. All Indian residents are eligible to apply for a home loan from LTHFL.
2. Salaried, self-employed professionals and non-professionals are eligible depending on the income.
3. Minimum age at application is 23 years.
4. Maximum age at maturity of the loan is 65 years.
5. Quantum of loan depends on income, repayment capacity, age, assets and liabilities, and cost of the proposed house/flat.
6. You can increase eligibility for loan amount by adding other sources of income such as rent or bringing in a co-applicant with a regular source of income.

Additional Info: Also check Home Loan Eligibility

Home Loan - Balance Transfer from other banks and HFCs

Eligible borrowers can transfer their Home Loan balances from other banks and financial institutions to LTHFL and avail the benefits of low interest.

Eligibility criteria

• Good repayment track record for last 12 months.
• Balance transfer from approved institutions.
• This facility is available only for residential properties.
• The ownership of the property should remain with the applicant.

Home Loan - Top-Up facility

• Maximum loan tenure up to 20 years.
• Facility to avail credit up to the original sanction amount.
• Attractive rate of interest.
• Easy documentation.
• Use the Top-Up Loan for a variety of purposes like buying a new car, new home appliance, medical emergencies, and business requirements.

Eligibility criteria:

1. Clean repayment track record or 12 to 24 months as the case may be.
2. Loan quantum is subject to a ceiling of 10% or 20% of the original sanction amount depending on the repayment track record.
3. Loan tenure for salaried employees is 20 years maximum.
4. Self-employed individuals are required to repay the loan within 15 years.

Home Loan – Pradhan Mantri Awaas Yojana

• LTHFL is one of the nominated housing finance companies that provide loans under PMAY. It is a Central Government formulated housing loan product monitored by National Housing Bank.
• It is a credit linked subsidy scheme to enable people who do not have any house in their name to have one by the end of March 2022.
• There are four categories: the economically weaker section, low-income group, Middle-income group I and Middle-income group 2.
• The maximum subsidy available is  2.67 Lakhs.
• The maximum loan tenure is 30 years, but the interest subsidy is available only for 20 years.
• The maximum loan quantum is four times the average annual income subject to different ceilings for different categories.

Also Read - Top 10 Home Loan for Senior Citizen & Pensioners in India

MyMoneyMantra EMI Calculator helps you calculate your home loan EMI within a few clicks. It is an easy tool to operate. You only have to provide the following information:

• Loan Amount
• Rate of Interest
• Loan tenure

And the EMI calculation is automated instantly along with the amortization schedule.

You can contact L&T Housing Finance at 022-62125000

Address - 

L&T Housing Finance Limited

Brindavan, Plot No 177

CST Road, Kalina, Santacruz East

Mumbai 400098