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Home Loan bouquet

Construction

You can take the construction loan for a residential house on a land owned by a borrower.  

House Purchase

Considering to buy a new property or a re-sale one? We offer loans for ready to move-in houses or even those under construction. 

 

House Improvement

A home is like a mirror that reflects your image. You can now take a loan to get your existing home in good shape through repairs and maintenance.

 

House Extension

Take a loan to extend your existing residential unit either by constructing an additional room or even a floor.

The extention should be an increase in FSI.

Balance Transfer

Have bought a home at a high interest rate? Our balance transfer facility allows you to transfer your existing home loan from an approved institution and also offers a feature of top up loan. 

 

(Please refer to the annexure of the approved institutions) 

Composite Loan Scheme

This facility is to help you finance the purchase of a plot (Refinance the plot amount on start of construction after receipt of sanction plan) and construction of residential house thereon within a specific time.

Low Loan to Value (LTV)

It is to cater cash intensive business segment & also specifically to cater to the affordable housing customer segment.

Balance Transfer Plus Top-Up

Applicable to self employed non-professionals & professional customers based on regular income programme from only approved financial institutions.

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Key Features

Loan tenor up to 30 years

Loans ranging from 20 Lakhs to 7.5 Cr

Attractive rate of interest

Rate Range for Floating Rate Loans:

Home Loan Salaried 8.40%*
Home Loan Self Employed 8.60%*
Last updated on 24th November 2022.

Choose from a fixed or floating rate of interest

Home loans upto 90%  of property value

Flexible repayment options like Tranche-based EMI and Part Prepayment Scheme

Income-based product offering (Gross Receipt Product, Gross Margin Product, Banking Based Product, etc.)

*Loan tenure is subject to meeting eligibility and age of the applicant

*Quoted interest rates are as per company pricing policy, the actual rates may vary depending on the credit/Risk profiling and LTV of the customer.

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Home Loan EMI Calculator

Loan Amount (₹):
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Eligibility Criteria

Indian resident

 

Salaried or self employed professionals and non-professionals


Age : 23 years to 85 years on loan maturity 

Actual eligible loan amount is dependent on applicant's income and repaying capacity, age, assets and liabilities cost of the proposed house/flat etc.


Eligibility can be increased by adding other sources of income (Rent, Co-applicant's income, other regular source of income)

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Schedule of Charges

Charge Type -Home Loans /LAP
Details

Processing Fee

Upto 3% on Sanctioned Amount + applicable taxes

Repayment bounce charges

Rs.1,000/ - + applicable taxes if any

Late payment interest

3% per month on overdue EMI

Annual Maintenance charges

NA

Duplicate NOC charges
(Charge is applicable for paper copy post 3 free copies per customer)

Rs 250/-+ applicable taxes

Repayment swap charges ( per swap)

Rs 500/- + applicable taxes

Additional documents charges -SOA/RPS /FC letter /Interest Certificate

Nil

Documentation Charge

As per actuals

Cash pickup charge

Nil

Interest Rate Conversion Charge

Upto 0.5% on Balance Loan Amt + applicable taxes (or)
Minimum Rs.1,000/ -

List of documents

Rs. 300/ - +applicable taxes

Providing Photo copies of the documents

Rs. 500/ - +applicable taxes

Charges incurred by LTFL for initiating action under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002

· Issue of Loan Recall Notice = Rs. 500/ -

· Issue of Demand Notice = Rs. 1,000/ -

· Issue of Possession Notice = Rs. 2,000/ -

· Applying District Magistrate Order = Rs. 8,000/ -

· Taking Physical possession = Rs. 20,000/ -

Actual cost incurred will be debited for expenses pertaining to Publication of Possession Notice / Publication Demand Notice / Publication of Sale cum Auction Notice.

Legal / Recovery Charges (Other than pertaining to SARFAESI)

As per actuals

Loan Cancellation Charges

Rs. 5000/ - + applicable taxes

Recovery of proportionate actual expenses from disbursement date(s), from individual borrower(s) in

Home Loan - Upto 0.75% of total disbursed loan amount + applicable taxes in case of closure within 18 months

LAP - Upto 1% of total disbursed loan amount + applicable taxes in case of closure within 24 months

Foreclosure Charges /Pre-payment Charges- Home Loan

For Individual Borrowers -

Floating Rate - Nil Charge

Fixed Interest Rate - other than own source of funds.

Less than 1 year from disbursement - upto 3% on principal outstanding/Partial / Prepayment amount+ applicable taxes

Post 1 year of disbursement - upto 2% on principal outstanding/Partial / Prepayment amount + applicable taxes

 

For Non - Individual Borrowers - (Applicant/Co - applicant)

· Fixed & Floating rate loan -

Less than 1 year from disbursement - upto 3% on principal outstanding/Partial / Prepayment amount + applicable taxes

Post 1 year of disbursement - upto 2% on principal outstanding/Partial / Prepayment amount + applicable taxes

Foreclosure Charges / Pre-payment Charges - Loan Against Property

For Individual Borrowers -

· Floating Rate - Nil Charges

· Floating Rate - for cases where end use of land is for business/commercial purpose

Less than 1 year from disbursement - upto 3% on principal outstanding/Partial / Pre - payment amount + applicable taxes

Post 1 year of disbursement - upto 2% on principal outstanding / Partial / Pre - payment amount + applicable taxes

· Fixed Rate -

Less than 1 year from disbursement - upto 4% principal outstanding/ Partial / Pre - payment amount + applicable taxes

Post 1 year of disbursement - upto 3% on principal outstanding / Partial / Pre - payment amount + applicable taxes

 

For Non - Individual Borrowers - (Applicant/Co - applicant)

· Fixed/Floating rate loan -

Less than 1 year from disbursement - upto 4% principal outstanding / Partial / Pre - payment amount + applicable taxes

Post 1 year of disbursement - upto 3% on principal outstanding Partial / Pre - payment amount + applicable taxes

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Eligibility & Documentation by L&T Financial Services

Documents & Forms

Other Products

Transfer Your Loan for Better Interest rates

Balance Transfer

Top Up Loan by L&T Financial Services

Top Up Loan

Loan Against Property

Loan Against Property

Real Estate Finance by L&T Financial Services

Real Estate Finance