FAQs


The objective of the FAQs is to provide information about the queries and concerns related to Two Wheeler and Personal loan.


What is the One Time Resolution scheme approved by RBI?

RBI has provided a framework to banks & lending institutions for implementation of resolution plans for addressing the economic fallout due to the COVID-19 pandemic which has led to significant financial stress for customers. Basis the framework and regulatory guidelines, your company has framed its policy for the restructuring of the loan/s of individuals and entities that have been impacted due to the COVID-19 pandemic.

OTR facility is available for how many months?

As per RBI guidelines, the last date for requesting a one-time restructuring (OTR) request is 30th September 2021. Post restructuring, moratorium will be provided for 6 months.

What are the Advantages and Disadvantages of OTR/Moratorium Opt in?

  •  Advantages
    ◦  Provide substantial relief to the customers who are facing financial stress due to covid
    ◦  Moratorium relief to customer for 6 months - no payment of EMI for 6 months
    ◦  Customer can make partial payments as per the availability of funds and subsequent interest benefit would be passed on to the customer for the partial amount

  •  Disadvantages
    ◦  Interest will continue to accrue during the moratorium period which would be added to the outstanding amount, resulting in an increased overall cash outflow
    ◦  Post moratorium, EMI amount will remain same, however tenure of the loan will be extended
    ◦ Account would be tagged as ‘Restructured’

How much time will it take for me to know the status of the restructuring application, if I have applied for moratorium via Website/CC or Branch?

You will receive a status confirmation (request accept/reject) SMS/Email within 30 days of raising the request. If your application gets accepted, a confirmation communication (SMS/Email) along with the updated repayment schedule would be further sent to you within 90 days of raising the request.



Customers are advised to honour their mandates/ pay EMIs till they receive confirmation communication for restructuring of the loan from the company.

How can I Opt in or Opt out for the OTR facility?

Customer can apply for OTR by following below ways:
  •  Visit the OTR facility page on our website https://selfhelp.ltfs.com/ServicingApp/micrositeDashboard
  •  Customer can contact customer care 7264888777 to give OTR request
  •  Also, written request can be given by visiting nearest LTFS branch or emailing us at customercare@ltfs.com


Post the request is received, Company will assess whether your loan meets the eligibility criteria or not. We will then intimate the final status (request accept/reject) via SMS/Email within 30 days of receiving your request.


In case your application is accepted, final communication of restructuring will be provided within 90 days of receiving the customer request along with updated repayment schedule/addendum letter.

What type of loans are not eligible for restructuring?

Loans to the following entities/individuals are not eligible for restructuring: -
  •  individuals/entities for agricultural purposes and classified as agricultural loans
  •  agricultural credit societies 
  •  financial service providers
  •  Central, State and local government bodies 
  •  LTFS employees
  •  Exposures to housing finance companies which have already been rescheduled
  •  Loans which have been already restructured once

Do I need to submit any documents to avail the restructuring benefit?

No, you may directly raise request through the following options: -
  •  Visit the nearest Branch
  •  Contact our customer care 
  •  Visit the OTR facility page on our website https://selfhelp.ltfs.com/ServicingApp/micrositeDashboard

I have received SMS/Email regarding moratorium. How can I proceed?

If you do not wish to apply for moratorium, you can click on the link which is available in SMS/Email or reply “No” from your registered mobile number on 9311062929. In any other scenario, it would be considered as acceptance by the customer for moratorium.


The moratorium will be for a duration of 6 months and it will start from the next month after the company has offered moratorium to the customer via SMS/Email.

Will there be any charges on account of overdue or cheque bounce during this period?

No overdue or cheque bounce charges will be incurred for the 6 months moratorium period.

Will a new agreement number be allotted after I opt in for OTR facility?

No, new LAN will not be created and existing LAN will be used for restructuring the loan

Will there be a change in the EMI amount after I opt in for moratorium facility?

No, EMI amount will continue to remain the same. However, the tenure of the loan will increase

I have multiple loans with L&T finance so do I have to apply separately for each loan?

Yes, separate requests have to be submitted for each loan.

Will presentation be done in my bank account for EMI deduction during non-moratorium period?

Yes, presentation will be done on the mandate registered cases, as per the cycle date during the non-moratorium period.

In case I opt for Moratorium, will it impact my CIBIL Score?

As per regulatory guidelines, your loan will be reported to credit bureau as “Restructured” and there will not be any impact on your CIBIL score.

What if I want to make the EMI Payments during Moratorium Period?

Once you have applied for moratorium, it cannot be revoked. There will be an extension in your Loan tenure as per the Moratorium policy.

However, you can continue to pay your dues and the company will pass on the interest benefit in your loan account on such interim payments.

How will my Loan amount or Loan tenure be adjusted due to moratorium?

Moratorium will be given for 6 months from the month of implementation by the company and the tenure will be extended by adjusting the principle outstanding amount along with interest, capitalised over the moratorium period.

However, EMI will remain the same for entire tenure.

How to self-check if moratorium has been provided to me for my Two wheeler/Consumer Loan?

If moratorium is applied for loan, the status of your loan would appear as ‘restructured’. You can check the same by visiting our customer support option on LTFS website after receiving the confirmation SMS/Email.

My moratorium request was rejected earlier. Can I apply again?

Yes, you can again request for moratorium in the next month (till Sep’21). If you are found to be eligible for the same as per RBI guidelines, moratorium shall be provided to you for 6 months.

My moratorium request was rejected earlier. Can I know the reason for the same?

As per RBI guidelines, moratorium is provided to only those customers who will meet the below conditions –
  •  Home, Two-wheeler, Consumer and Micro loan customers
  •  Payment should not be due by customer for more than 90 days as on 31-03-2021
  •  Customer should not be LTFS employee
  •  Loans disbursed before 31-03-2021,
  •  Requests received before 30-09-2021
  •  Based on CIBIL score/ Payment history

Where can I get details about Two-wheeler Finance?

To know more about Two-wheeler Finance please click on the below link-

Two-wheeler Finance

How can I locate the nearest LTFS branch and address?

To locate the nearest LTFS branch please click on the below link-

Contact Us

Enter your location and select the business for which you want to find the branch address and the list of branches with addresses will be displayed.

How can I login on the customer service page?

Please enter the Loan Account Number (LAN) on the customer service page to login. An OTP will be shared with you on your registered mobile number. Enter the OTP and complete the action that you have selected.

I am unable to complete the journey on your portal for acquiring a personal loan. What should I do?

For any query related to Online journey for personal loan (Consumer Loan) you can reach out to us on below numbers (according to your residential state or state nearby your residence)-

 

Contact No. Residence state
022-68538686 -  Bihar, Chhattisgarh, Delhi, Gujarat, Haryana, Jharkhand, Madhya Pradesh, Maharashtra, Punjab, Uttar Pradesh, Uttarakhand
080-40507600 -  Andhra Pradesh, Assam, Karnataka, Kerala, Orissa,Tamil Nadu, Telangana, Tripura, West Bengal

How can I check my loan details?

1. You can also check your loan account no. by clicking-
Customer support > Customer Self Help > Choose your loan > Loan Details > Login (through Loan agreement number, enter OTP)

 

2. You can check loan details by sending below mentioned message code to 9212025555 from your registered mobile no.

a. ‘INST’ to know no. of instalments paid and no. of future instalments

b. ‘OSB’ for outstanding balance of your loan

c. ‘SANC’ for loan sanctioned amount and tenure

d. ‘BRN’ space ‘first 3 letters of your city’ to know LTFS branch addresses in your city

e. ‘EMI’ to know your next EMI amount and due date

f. ‘POS’ to know principle outstanding

g. ‘LAN’ to know your loan account no. linked with your registered mobile no.

 

3. You can also contact helpline no. 7264888777 or write to us at customercare@ltfs.com with your registered email id.

How can I check my loan status?

You can check your loan status by clicking-

Customer support > Customer Self Help > Choose your loan > Loan Details > Login (through Loan account number, enter OTP) > View status

How can I get my welcome letter?

You can download the statement account by clicking

Customer support > Customer Self Help > Choose your loan > Instant fulfilment > Welcome letter > Login (through Loan account number, enter OTP) > Download > Open the document

How can I view my loan related information such as ROI, tenure, instalments, mandate status, EMI amount, overdue charges, outstanding amount, bounce count?

To check your loan details, please click on

Customer support > Customer Self Help > Choose your loan > Loan Details > Login (through Loan account number or registered mobile number, enter OTP) > View loan related information

Where can I check my payment history for my loan?

A. You can get your payment history by following any of the below two options -

  • Download SOA by clicking-
  • Customer support > Customer Self Help > Choose your loan > Instant fulfilment > Statement of Account > Login (through Loan account number, enter OTP) > Download > Open the document with DDMMYYYY passcode as per your loan agreement.

B. You may also contact our customer helpline no. 7264888777 or write to us at customercare@ltfs.com with your loan details.

How can I get my Statement of account (SOA)?

You can download the statement account by clicking on

Customer support > Customer Self Help > Choose your loan > Instant fulfilment > Statement of Account > Login (through Loan account number, enter OTP) > Download > Open the document with DDMMYYYY passcode as per your loan agreement.

If you have forgotten your DDMMYYYY details as updated in the system, please click on

Customer support > Customer Self Help > Personal Information > Login (through Loan account number, enter OTP) > View information

How can I get my repayment schedule?

You can download the statement account by clicking on

Customer support > Customer Self Help > Choose your loan > Instant fulfilment > Repayment schedule > Login (through Loan account number, enter OTP) > Download > Open the document with DDMMYY passcode.

If you have forgotten your DDMMYYYY details as updated in the system, please click on

Customer support > Customer Self Help > Choose your loan > Personal Information > Login (through Loan account number, enter OTP) > View information

How can I get my foreclosure statement?

For availing your foreclosure statement, please contact our customer helpline no. 7264888777 or write to us at customercare@ltfs.com with your loan details.

I need clarification on loan details of my Two-wheeler/ Farm equipment/ Personal loan from L&T Finance.

Request you to please contact our customer helpline no. 7264888777 or write to us at customercare@ltfs.com with following details-

1. Loan account number

2. Issue

3. Correct details as per your knowledge

4. Attach proof of dispute

What happens after I have paid the last instalment?

On payment of all the instalments against your two-wheeler finance –

1. L&T Finance will issue a No Objection Certificate (NOC) and a Form 35 to cancel hypothecation of the vehicle.

2. The Regional Transport Office requires an NOC and Form 35 duly signed by the lender for updating the registration book.

3. Your insurance company will also require an NOC from us to make the necessary changes in the policy document.

How can I view my personal information related to my loan account? (Name, address, DOB, contact details)

To view your personal information, please click

 

Customer support > Customer Self Help > Choose your loan > Personal Information > Login (through Loan account number, enter OTP) > View information.

How can I update my name/DOB/ Address?

For updating your Name/ DOB please contact our customer helpline no. 7264888777 or write to us at customercare@ltfs.com with KYC details and ID proof (Aadhar card, PAN card, Voter ID, Passport – Anyone with correct details)

 

You can also visit the nearest branch with documents (KYC document and ID proof - (Aadhar card, PAN card, Voter ID, Passport – Anyone with correct details) for updating the same.

How can I update my KYC address?

For updating your KYC address, please click on

Customer support > Customer Self Help > Choose your loan > Instant fulfilment > Modify KYC address > Login (through Loan account number, enter OTP) > Enter Address Details > Attach ID and address proof (Aadhar card, PAN card, Voter ID, Passport – Anyone with correct details) > Submit

Please note case number for future reference

How can I update my e-mail id?

For updating your email ID, please click on

Customer support > Customer Self Help > Choose your loan > Instant fulfilment > Email ID > Login (through Loan account number, enter OTP) > Enter Email ID > Confirm Email ID > Enter OTP sent to your email id >Proceed.

Please note case number for future reference.

How can I update my registered mobile number?

For updating your registered mobile number, please click on

Customer support > Customer Self Help > Choose your loan > Instant fulfilment > Mobile Number > Login (through Loan account number, enter OTP) > Enter Mobile Number > Confirm Mobile number > Enter OTP sent to your mobile number > Proceed.

Please note case number for future reference.

How can I update my alternate mobile number?

For updating your alternate mobile number, please click on

Customer support > Customer Self Help > Choose your loan > Instant fulfilment > Alternate Mobile Number > Login (through Loan account number, enter OTP) > Enter Alternate Mobile Number > Confirm Alternate Mobile number > Enter OTP sent to your mobile number > Proceed.

Please note case number for future reference.

What are the different modes through which I can pay my EMI?

There are multiple modes through which you can pay your EMI such as-

• UPI

• PayTM

• LTFS website (Quick Pay)

• Bharat bill payment system (BBPS)

• National electronic funds transfer (NEFT) / Real time gross settlement (RTGS)

• Payment Retail outlets

• Branch

• ECS/Auto debit/Mandate

What is the process for making the payment through UPI channel?

For making payment through UPI, click on any UPI app

Click on UPI ID > Enter UPI ID > Enter due amount > Click on pay option > Make payment.

  UPI ID

• For Two-wheeler customers: “LNTTW (Full LAN) @sc”

• For consumer loan customers: “LNTCL (Full LAN) @sc”

Save transaction id for payment made

What is the process for making the payment through PayTM?

You can pay your EMI either via PayTM app or through the link mentioned below- Loan Emi Payment

For making payment via PayTM app

• Enter your mobile number

• Click on proceed to pay

• Enter OTP number received via text message and click on verify

• Select payment mode and make payment

• Save Order ID for the payment made.

What is the process of making payment through LTFS website?

To make payment through LTFS website,

Home menu > Quick pay > Enter LAN & captcha > View Customer Payment Details > Enter payment amount, mobile number & email ID (optional) > Proceed to Pay > (redirected to PayTM PG) > OTP authentication > Choose payment mode > (redirected to bank website) > complete transaction > (redirected to LTFS website) > download payment invoice

What is BBPS?

Bharat Bill Payment System (BBPS) is a Reserve Bank of India (RBI) conceptualised system driven by National Payments Corporation of India (NPCI) that offers interoperable and accessible bill payment service to consumers via digital (bank channels) as well as through a network of agents & bank branches

What is the process of making payment through BBPS?

To make payment via BBPS

• Connect to any Internet banking/App of your respective bank or Visit bank/branch or retail shop

• Click on Bill payment or BBPS Tab

• Choose the category of biller and Enter the bill details

• Initiate a payment and get instant confirmation

What is the process for making an online payment through NEFT/ RTGS?

For making the payment through NEFT/ RTGS, add beneficiary details, transfer fund, share UTR number by calling on 18002094747 or email us: customercare@ltfs.com.

 

The beneficiary details is the combination of Static code (LTFS)+ Dynamic code (Loan Account number)

 

Beneficiary Name L&T Finance Limited
Beneficiary Account Number LTFS + Loan account number i.e. T075***906********
Centre (Location) Mumbai
Bank Standard Chartered Bank
Branch Fort, Mumbai
Account Type current
IFSC Code SCBL0036046
3

What is the process for making the payment through payment retail outlets?

For making the payment through outlet, visit the nearest outlet, provide Loan account number, registered mobile number and make payment. Please collect the receipt after making the payment.

How can I get to know about the nearest PRO (Payment Retail outlet)?

To know about the nearest PRO, please contact our customer helpline no. 7264888777 or write to us at customercare@ltfs.com

What is the process for making the payment through LTFS branch?

For making the payment through outlet, visit the nearest branch, provide Loan account number, registered mobile number and make payment. Please collect the receipt after making the payment.

What is the process of payment through ECS/Auto debit/Mandate Registration?

You can pay the EMI on your bike loan either through ECS (Electronic Clearing System) or /auto debit from your bank account. In case you wish to avail of the ECS/auto debit facility for repayment of your loanmotorcycle loan, please contact your LTF nearest branch., follow the below steps -

  • Customer support > Customer Self Help >Request Support> Mandate Related > Bank Details-Mandate >Mandate Swap > Enter your Loan Account number > Enter OTP > Check your existing ECS/Bank details (If already registered) > Follow the steps as mentioned on the screen

How can I confirm if the payment made has been updated in the system? (Online/UPI/ Paytm/Agency collection/Paid at branch)?

For payment confirmation click on, please contact our customer helpline no. 7264888777 or write to us at customercare@ltfs.com with correct Loan account details, receipt number and amount.

What should I do if I have made payment in incorrect account number?

For rectification of payment (Mode of payment -through agent or paid at branch), please click on


  •  Paid to Agent


Customer support > Customer self-help > Request Support > Payment & Refund > Rectification of payment > Agency collection > Enter your Loan Account number > Enter OTP > Enter Details (Enter LAN in which payment made, enter correct LAN number, Agent details, Location, Date & Time of payment, Receipt number) > Submit > Case created


  •  Paid at Branch


Customer support > Customer self-help > Request Support > Payment & Refund > Rectification of payment > Paid at Branch > Enter your Loan Account number > Enter OTP > Enter Details (Enter LAN in which payment made, enter correct LAN number, Branch executive details, Branch location, Date & Time of payment, Receipt number) > Submit > Case created


Please note the case number for future reference.


For rectification of payment (payment made through online mode), please contact our customer helpline no. 7264888777 or write to us at customercare@ltfs.com with correct Loan account details, receipt number and amount.

What should I do if payment is not updated?

To update the payment, contact our customer helpline no. 72648887777 or write to us at customercare@ltfs.com with correct loan account details, receipt number, date and amount of payment made.

What should I do if EMI is not getting debited from account?

If the EMI amount is not debited please contact our customer helpline no. 7264888777 or write to us at customercare@ltfs.com with correct LAN details and Bank Details

What should I do if the I want the refund of excess amount paid?

For refund of excess amount paid, please click on


Customer support > Customer self-help > Request Support > Payment & Refund > Excess Amount Refund > Excess Amount in LAN > Enter your Loan Account number > Enter OTP > Enter Details [Excess amount reflecting in SOA, enter amount paid, enter refund amount required, Bank Details (for initiating refund-Bank name, Bank account)] > Submit > Case created


Please note case number for future reference.

How can I apply for mandate swap/ rectification?

Mandate Swap means registering the ECS for your loan for the first time or via new bank account no. that is different from the existing one.


While Mandate Rectification means to re-register your rejected mandate (Due to signature mismatch/Account no. issue etc.) with same bank account no.


A. If you want to apply for Mandate swap, please click on -
Customer support > Customer Self Help > Request Support > Mandate Related > Bank Details-Mandate > Mandate Swap > Enter your Loan Account number > Enter OTP > Check your existing ECS/Bank details (If already registered) > Follow the steps as mentioned on the screen


B. If you want to apply for Mandate rectification, please click on -
Customer support > Customer Self Help > Request Support > Mandate Related > Bank Details-Mandate > Mandate Rectification > Enter your Loan Account number > Enter OTP > Check your existing ECS/Bank details (If already registered) > Follow the steps as mentioned on the screen

Do I have the option of pre-paying/ foreclose the entire loan amount?

You can foreclose the loan any time after 6 months of availing of the loan. You need to pay prepayment fee on the outstanding loan amount.


For foreclosing the account, please contact our customer helpline no. 7264888777 or write to us at customercare@ltfs.com.

My account status is showing active but my account is foreclosed/Settled/matured. How can I update the status?

To raise a request about account status update after maturity, please click on –


Customer support > Customer self-help > Request Support > Account Closure > Account Status is Active > Account Foreclosed but active/ Account Matured but Active/ Account Settled but Active > Enter your Loan Account number > Enter OTP > Enter Details as displayed on the screen > Submit > Case created


Please note case number for future reference.


To know more about your account status, please contact our customer helpline no. 7264888777 or write to customercare@ltfs.com with LAN details, date of foreclosure/settlement/loan maturity, and receipt number. Also attach receipt.

Where do I have to connect if my loan account is being sold to another entity?

1. Link for Kotak bank - You may visit www.kotak.com or get in touch with their executives for personal assistance on 1860 266 2666* between 10am to 6pm (Monday to Sunday)

2. Link of ICICI and other institutions - You may visit www.icicibank.com or get in touch with their executives for personal assistance on 1860 120 7777.

How can I get my SPDC (Security post-dated cheque)?

To get your SPDC, please click


Customer support > Customer Self Help > Request Support > Account Closure > SPDC not returned > SPDC related > Enter your Loan Account number > Enter OTP > Enter Details (Loan agreement number, Address for courier SPDC) Submit > Case created

How can I get NOC (No objection certificate) for my loan?

If account status is closed and your RC details of your vehicle (for Two-wheeler/ Farm Equipment loan) are updated for your loan account, you can get your NOC (Duplicate NOC and State Transfer) by any one of the below facilities to receive e-NOC


  1.  WhatsApp - Send NOC-Loan No. on WhatsApp from your registered mobile number to “7378333451”. NOC will be sent to your registered number. Download NOC and enter password as last six digit of your engine number


  2.  Email - You can call on 7264888777 or write to us on customercare@ltfs.com from your registered email ID and NOC will be sent to your registered email ID. Download NOC and enter the password as the last six digit of your engine number.


  3.  Website - You can download NOC by clicking on –


Customer support > Customer Self Help > Choose your Loan > Instant fulfilment > NOC > Login (through Loan account number, enter OTP) > Download > Open the document with last 6 digit of your engine number passcode as per your loan agreement.


If you have forgotten your engine number details as updated in the system, please click


Customer support > Customer Self Help > Vehicle Details > Login (through Loan account number, enter OTP) > View information.


If your vehicle details are not updated for your loan account closed, request you to contact our customer care helpline no. 7264888777 or write to us at customercare@ltfs.com with your RC Copy and details to be updated. Once the details are updated you can download the NOC via our website or contact our customer care team again or visit the nearest LTFS branch or again to get your NOC.

How I can cancel my Two-wheeler/ Farm Equipment/ Personal Loan?

a. You can cancel your loan by visiting the nearest LTFS branch with your loan documents, cancellation letter with reason of cancellation, KYC ID and register your cancellation request.


b. You can also register cancellation request by contacting our customer helpline no. 7264888777 or write to us at customercare@ltfs.com from your registered email ID, along with the following details-

  •  Loan account number

  •  Name

  •  Registered Mobile No.

  •  Self-attested cancellation letter with reason of cancellation

  •  Scan copy of KYC documents

I recently visited LTFS branch and I am not happy with the service provided.

We apologise for the inconvenience caused and appreciate your patience. Request you to please contact our customer helpline no. 7264888777 or write to us at customercare@ltfs.com with following details-


• Branch Ops Executive name

• Branch Address

• Date of Event

• Details of event

How can I raise a complaint against your sales/collection executive in case of issue?

We regret the inconvenience caused and appreciate your patience. Request you to please contact our customer helpline no.7264888777 or write to us at customercare@ltfs.com with following details-

• Executive name

• Executive No.

• Date of Event

• Details of event

I have made payment but I am still receiving calls/SMS to make payment?

We regret the inconvenience caused and appreciate your patience. We request you to please connect with our customer care on 7264888777 or write to us at customercare@ltfs.com with following details-

• Loan account number

• Date on which call/SMS was received

• No. on which call/SMS was received

• Details of the issue

• Proof (if any)

I was unable to make payment on time and I have received call from LTFS to make payment. I have already communicated that I will make payment as soon as possible. I am still receiving repeated calls from LTFS.

We regret the inconvenience caused and appreciate your patience. We assure you that as soon as payment is received from your side these SMS and calls will be stopped.


If you still receive such calls/SMS you can connect with our customer care on 7264888777 or write to customercare@ltfs.com to share your issue with following details-

• Loan account number

• Date on which call/SMS was received

• No. on which call/SMS was received

• Details of the issue

• Proof (if any)

I have taken a loan from L&T Financial Services but I am receiving SMS and calls from LTFS for making payment for some different loan account no.

We regret the inconvenience caused and appreciate your patience. Request you write to us at customercare@ltfs.com with following details-

• Your Loan account number

• No. on which SMS/Call was received

• LAN for call/SMS was received

• Details of SMS/Calls received

• Attach screenshot/ call recording

I have not taken any loan but I am receiving SMS and calls from L&T Finance?

We regret the inconvenience caused and appreciate your patience. Request you to please write to us at customercare@ltfs.com with following details-

• No. on which SMS/Call was received

• Details of SMS/Calls received

• LAN for call/SMS was received

• Relation with original customer

• Attach screenshot/ call recording

• Scan copy of your ID proof