Faqs - L&T Finance

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What are the Professional Loan Processing Fees?

L&T Finance charges up to 3% on sanctioned amount + applicable taxes as a processing fee. This covers administrative costs, documentation verification, and loan disbursement expenses.

How do I get the best rate on a Professional Loan?

To secure the best Professional Loan interest rates and charges, maintain a credit score above 750, provide strong proof of income, and compare loan offers. We offer preferential rates for existing customers with a stable financial history.

Are There Prepayment or Foreclosure Charges on Professional Loans?

Yes, there is a prepayment charge of 2% + applicable taxes on total part-prepayment amount applicable on part prepayment post 6 months of loan disbursal at L&T Finance.

What Are the Legal and Administrative Charges for a Professional Loan?

Legal and administrative costs cover document verification, agreement preparation, and legal formalities.

Do Lenders Charge GST on Professional Loan Fees?

Yes, an 18% GST is applicable on all Professional Loan fees & charges, including processing fees, foreclosure charges, and EMI bounce fees.

Can I Negotiate the Fees and Charges on a Professional Loan?

Yes, borrowers with strong credit scores and stable finances can negotiate lower fees and charges.

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