Faqs - L&T Finance

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What is the difference between a personal loan and a Mortgage Loan?

A personal loan is unsecured, while a Mortgage Loan is secured against property and usually offers lower interest rates and higher loan amounts.

What makes the L&T Finance Mortgage Loan stand out as the best option?

L&T Finance offers competitive interest rates, high loan amounts, simple documentation, and flexible tenure, making it a reliable option for many borrowers

When will my Mortgage Loan interest rate change?

If you opt for a floating-rate loan, the interest rate can change based on the repo rate changes. Fixed-rate loans stay constant.

What is the difference between a home loan and a Mortgage Loan?

A home loan is taken to purchase a new property, whereas a Mortgage Loan is taken against an existing property for various financial needs.

Can an existing borrower take advantage of the new Mortgage Loan interest rate?

Yes, existing borrowers can consider a balance transfer to benefit from a lower interest rate, subject to terms and lender approval.

How can I get a low interest Mortgage Loan?

Maintain a high credit score, offer good collateral, and opt for a shorter tenure to secure the lowest interest rate.

What is the current Mortgage Loan interest rate at L&T Finance?

Mortgage Loan interest rates at L&T Finance start from 9.55%* per annum, depending on the lender, borrower profile, and property type.

Do fixed-rate and floating-rate Mortgage Loans have different interest charges?

Yes, fixed-rate loans remain constant, while floating rates may increase or decrease based on market trends, affecting total interest paid.

How does tenure affect the Mortgage Loan interest?

Longer tenure means lower EMIs but higher total interest paid, while shorter tenure results in higher EMIs but lower interest outgo.

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