Rural Vikaas Loan Documents - L&T Finance

Vikaas Loan Documents Required

Vikaas Loan is designed to provide financial solutions with minimal hassle. The application process is simple and having the correct vikaas loan documents ensures faster approval. Whether you’re a salaried individual, a self-employed professional, or a business owner, the required documentation remains the same. However, co-applicant documents are required. Simplify your loan application process by understanding the necessary paperwork.

 Vikaas Loan Required Documents
Documents Types Id proof Address Proof Income Proof
Pan card y  
Adhaar Card y  
Rent agreement / current Address proof  y 
Bank statement (Optional. Based on loan requirement)   y

Income Proofs include the following:

1. Agricultural fields
Our staff members will visit the field to assess it

2. Household profiling
Our staff members will visit to assess the household profile of the customer

3. Passport sized photos
Document photo, applicant photo and group photo are needed.
Customers should also present to take pictures

4. Additional documents
Information of the Bank account of applicant & joint account of co applicant/s

FAQs & Support

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What is the minimum and maximum loan amount offered under the Vikaas Loan scheme?

The minimum loan amount is offered under the Vikaas Loan scheme is ₹ 15,000 and the maximum is upto ₹ 45,000.

Is Vikaas Loan available to old customers?

No, only first time borrowers who have not borrowed from any organisation before can apply for Vikaas Loan.

Who is eligible to apply for the Vikaas Loan?

A: Women borrowers, aged between 20 and 60 years, who are first time members of joint liability groups in rural areas are eligible for a Vikaas Loan.

What is the tenure for repayment of a Vikaas Loan?

The tenure for repayment of a Vikaas Loan is 24 months.

Are there any processing fees for applying for a Vikaas Loan?

Yes, there is a processing fee of 1.25% of the loan amount, plus GST.

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