Faqs - L&T Finance

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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.

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.

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.

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