A house which is everyone’s dream – dream house, if you also want to buy your house through l&t finance home loan then you have come to the right post, in this post you will get complete information about how to apply for this house loan Advantages, disadvantages, what is the interest rate, maximum loan that can be availed, eligibility and the number of years to repay the loan.
There are other companies and banks providing house loans in the market, but why L&T Finance home loan is better than the rest.
About L&T Finance Home Loan
In today’s time of inflation, everything has become really expensive and buying a house has become like a dream and it is very difficult for the common man.
In such a situation, home loan is the best and you should also go for home loan only because in this situation you have to pay small amount monthly and without loan it is impossible for the common man to pay the entire amount at once. Then you too can fulfill your dream through home loan.
L&T Finance Limited is a company that provides loans for the purchase or construction of houses. They have many other types of loans for employed and self-employed people. This loan is especially for those who want to buy or construct a Quality house from a chawl house. Construction finance is available for builders and real estate developers.
Home loan is such a way through which you can buy your dream house, in this you get a loan according to the amount of your house and you have to repay this loan in monthly installments. Monthly installment is specially known as EMIs (Equated Monthly Installments).
Want to Apply for a Home Loan? Follow These Three Easy Steps for Success!
I am going to explain you the process of applying home loan in a very easy way. Before applying for a home loan, know all the important things about this loan. Before using the home loan calculator, you have to know how much your EMIs will be. Has remained as well as other things like interest rate and loan tenure.
- Fast and Secure Online Loan Application with L&T Finance
First of all, you have to choose the loan according to your requirement from Self-Construction House, Purchase House, Improvement and House Extension in the home loan section on the original website.
Then you have to fill the form by clicking on apply online and you have to upload your documents, then when your form is filled then you have to click on submit.
- Get Your Loan Online with L&T Finance’s App
First of all you have to download the app of L&T Finance, then you have to create your account, then you have to apply through online application and submit it with all the required documents
- Apply Offline for L&T Finance Loans
You will have to visit your nearest L&T Finance branch, you will be given the loan application form and also you will have to submit the Xerox of all the documents.
Documents needed for L&T Finance Home Loan application
- For Employed.
– You will need Aadhaar card / PAN card for photo ID proof.
– address proof documents for L&T Finance home loans include driving license, passport, utility bill, rent agreement, Aadhar card, and voter ID
– For income proof, L&T Finance requires salary account bank statements for the past year and salary slips for the last three months
- For Self-Employed
– You will need Aadhaar card / PAN card for photo ID proof.
– address proof documents for L&T Finance home loans include driving license, passport, utility bill, rent agreement, Aadhar card, and voter ID
– For income proof, L&T Finance requires your latest 2 years’ personal and business Income Tax Returns (ITRs) with computation of income, advance tax challans (if available), 1-year bank statement, and the latest 2 years’ profit and loss (P&L) account and balance sheet (B/S) certified by a Chartered Accountant (CA)
Benefits of L&T Finance Home Loan
- Now you can also take advantage of tax exemption along with home loan. You can avail tax exemption under section 80c & 24 on both your EMI principal amount and interest rate.
- In today’s time everything has become digital and for this reason instant approval is also being done along with applying home loan online.
- Now you can easily repay your loan through EMI (Equated Monthly Installments).
- Tenure of this loan is upto 25 years
- Loans are available 20 Lakh to 7.5 Cr
- Interest Rates Begins from 8.60% p.a
- Now home loan will be available up to 90% according to your property.
Eligibility for L&T Finance home loan
– Indian Citizen
– Age from 23 to 62
– You can increase your chances of eligibility by showing other sources of income, example CO-applicant’s income
– Salaried and Self-Employed, Professional and Non-Professional
Conclusions
So friends, in today’s post, we have learned how to take L&T Finance home loan in a very easy way. Compared to other banks, the facility is good in L&T Finance and the interest rate is very good as compared to other lenders. You can avail tax exemption under section 80c and 24.
FAQs
Q. How is loan repaid?
Ans. You will repay the loan through EMI.
Q. What is the processing fees?
Ans. To apply for a L&T finance Home Loan, there is a fixed non-refundable login fee of Rs. 4999/- (excluding service tax) that needs to be paid, along with a processing fee.
The processing fee is a percentage of the loan amount and varies depending on whether the applicant is salaried or self-employed. For salaried applicants, the minimum processing fee is 0.25% plus taxes, while for self-employed applicants, the minimum processing fee is also 0.25% plus taxes. However, the processing fee may vary based on the customer’s profile and other factors, and may not always be the minimum amount.
Q. How will LTF decide my Home Loan eligibility?
Ans. It decides after checking all these things income, age, qualifications, number of dependents, spouse’s income, assets, liabilities, stability and continuity of occupation, savings history, etc.
Q. L&T Finance home loan Customer Care Contact Number?
Ans. L&T Finance on 1800-209-4747(Toll-free number)/ 022-67525656.