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FAQ - L&T Finance

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The loan amount varies by lender, typically ranging from ₹10,000 to ₹50 lakhs based on eligibility and requirements.

Interest rates for farmer loans usually range from 7% to 14% per annum. Lenders determine the exact rate based on loan amount, tenure, creditworthiness, and the RBI’s regulatory framework.

Farmers must be aged 18-65, have land ownership or lease rights, and meet income and credit score requirements.

Common documents include identity proof, land records, income proof, and bank statements.

Farmers can submit applications via the lender’s official website or visit the nearest branch office with the required documents for assistance when applying for an online farmer loan or offline process.

Repayment tenures range from 12 months to 10 years, with EMI and seasonal repayment options available.

Some lenders approve loans for low credit scores, but interest rates may be higher.

Loan approval and disbursement take 3 to 10 days, depending on verification and documentation.

Missing an EMI may result in late fees, a lower credit score, and possible legal action by the lender.

Yes, many financial institutions provide collateral-free loans to small and marginal farmers, subject to eligibility conditions such as borrowing limits and credit history.

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