Name: Home Loan
Brand: L&T Finance
Rating: 5 (10 reviews)

Make your dream home into reality with Home Loan for up to ₹ 10 Crore* and interest rates starting from 7.80%* p.a. Get up to 90%* of the property value, with tenure from 3 years to 30 years. Experience the ease of an instant home loan application process and manage your finances with our comprehensive home loan online services. Enjoy a fully digitised process, supported by a dedicated relationship manager to assist you at every step of the way. Additionally, you can also get significant tax benefits under Sections 80C and 24 of the Income Tax Act.

Home Loan for Apartments
Plot Plus Construction
Home Loan for Self Construction
Home Improvement

Competitive Interest Rates

Home Loan interest rates starting from 7.80%* p.a.

High Loan Amount

Loan amount starting from ₹ 20 Lakh* up to ₹ 10 Crore*

Loan Tenure

Flexible tenure starting from 3 years up to 30 years

Digitised Process

Online application process with a dedicated relationship manager

Minimal Documentation

Apply for a Home Loan online with minimal documentation

Tax Benefits

Avail tax benefits under Section 80C and Section 24 of the IT Act

Home Loan EMI Calculator

Results generated by the calculator(s) are indicative in nature.

Preferred loan amount

₹

₹20,00,000

₹10,00,00,000

Interest rate (per annum)

7.8%

15%

Loan tenure (months)

36 months

360 months

Estimated EMI

per month

₹ 36,690
Interest payable
₹52,41, 690

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Home Loan Eligibility & Documents Required

Eligibility for Home Loan

Residency:

Indian resident or NRI

Age:

Salaried: 23 years to 70 years
Self-employed: 25 years to 70 years

Profession:

Salaried / self-employed professionals and non-professionals

Other:

Can be increased by adding co-applicant income or other verifiable income sources

Documents Required for Home Loan

Age Proof

Aadhaar Card | PAN Card | Passport

Address Proof

Utility bills (not older than 2 months | Aadhaar Card | Driving License | Passport | Voter ID etc

Photo ID Proof

Income Proof

Income proofs vary for different professionals across salaried, non-salaried and self-employed. List of required income documents

Home Loan Fees And Charges

List of all fees and charges for Home Loan

Processing Fees:
Up to 3% of sanctioned amount + applicable taxes
Login Fees:
Up to Rs.5000 /- (inclusive of applicable taxes) (nonrefundable)
EMI Dishonour/Bounce Charge*
*A bounce charge is a charge for
(i) dishonour of any repayment instrument; or
(ii) non-payment of instalment(s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate
As shown in the table below

Loan sanction amount (in INR)

Charges in (in INR)

< 5 lacs

₹ 500

5 – 50 Lacs

₹ 1000

>50 Lacs – 2 Cr

₹ 1500

>2 Cr

₹ 2000

Penal Charge/Late Payment Charge (LPC)
Up to 2% per month (p.m.) on overdue EMI + applicable taxes
Annual Maintenance Charges
NA
Document retrieval / Duplicate NOC charges
Duplicate NOC (charge is applicable for paper copy post 3 free copies per customer), list of documents, Photo copies of the documents (property & others) Up to Rs.1000/- + applicable taxes
Repayment instrument swap fee (per swap)
Up to Rs. 500/- + applicable taxes (applicable only for branch walk-ins)
Asset valuation and verification fee
Up to 1% of loan amount + applicable taxes
Documentation and repayment setup fee
Up to Rs. 2,000/- + applicable taxes
Interest conversion fee
Floating interest rate to floating interest rate: 0.5% of balance Loan Amt. or Rs. 10,000/- whichever is higher + applicable taxes
Floating interest rate to a fixed interest rate and vice versa: 1% of balance Loan Amt. or Rs. 10,000/- whichever is higher + applicable taxes
Charges incurred by LTF for initiating action under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002:
- Issue of Loan Recall Notice = Up to Rs. 500/ –
- Issue of Demand Notice = Up to Rs. 1,000/ –
- Issue of Possession Notice = Up to Rs. 2,000/ –
- Applying District Magistrate Order = Up to Rs. 8,000/ –
- Taking Physical possession = Up to Rs. 20,000/ –
Actual cost incurred will be debited for expenses pertaining to Publication of Possession Notice/ Publication Demand Notice/Publication of Sale cum Auction Notice. All applicable taxes will be added.
Loan Cancellation Charges:
Up to Rs. 5000/ – + applicable taxes
Foreclosure / Full Prepayment Charges – Home Loan
For Individual / Non-Individual Borrowers –
- Floating Rate – Nil Charge
- Fixed Interest Rate –
  i. Less than 1 year from disbursement – up to 3% on principal outstanding + applicable taxes
  ii.Post 1 year of disbursement – up to 2% on principal outstanding + applicable taxes
Pre-payment Charges – Home Loan:
For Individual / Non-Individual Borrowers –
- Floating Rate – Nil Charge
- Fixed Interest Rate –
  i. Less than 1 year from disbursement – up to 3% on Partial Prepayment amount + applicable taxes
  ii. Post 1 year of disbursement – up to 2% on Partial / Prepayment amount + applicable taxes
Non-compliance fee
Up to 1% of principal outstanding + applicable taxes
Field collection service fee
Up to Rs. 500/- per collection + applicable taxes
Legal fees and charges
As per actuals or Up to Rs. 50,000/- whichever is lower + applicable taxes
Recovery charges
As per actuals or Up to Rs. 1,00,000/- whichever is lower + applicable taxes
Auction fees
Up to 1% of auction sale amount + applicable taxes

Home Loan Interest Rate

Interest rate plays an important role when you apply for a Home Loan in India. It directly affects the monthly EMI and the overall repayment you need to make. With L&T Finance Home Loan, you can enjoy attractive Home Loan interest rates starting from 7.80% per annum* along with flexible loan options. Here's more:

Customer Type	Effective Rate of Interest*
Salaried & Self-Employed	7.30% p.a. onwards* (Floating)
Existing customers switching from floating rate to fixed rate*	12% p.a. onwards* (Fixed)

Note: The final interest rate depends on multiple factors, including your CIBIL score, financial history, Fixed Obligation to Income Ratio (FOIR), employment type, income, and other personal details.

To know the exact EMI you will pay for your Home Loan, you can use the L&T Finance Home Loan EMI Calculator.

Exclusive deals from L&T Realty

How to Apply for Home Loan Online?

Apply for Home Loan with these steps

Processing Fees:
Up to 3% of sanctioned amount + applicable taxes
Login Fees:
Up to ₹ 5000 (inclusive of applicable taxes) (non refundable)
EMI Dishonour/Bounce Charge*
*A bounce charge is a charge for
(i) dishonour of any repayment instrument; or
(ii) non-payment of instalment(s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate
As shown in the table below

Loan sanction amount (in INR)

Charges in (in INR)

< 5 lacs

₹ 500

5 – 50 Lacs

₹ 1000

>50 Lacs – 2 Cr

₹ 1500

>2 Cr

₹ 2000

Penal Charge/Late Payment Charge (LPC)
- 2% p.m. on overdue amounts*
  *LPC revised from 3% to 2% per month on overdue EMI w.e.f. 4th Dec 2023
  *Taxes applicable on LPC w.e.f.1st April 2024
Annual Maintenance Charges
NA
Statement or document retrieval fee
Duplicate NOC (charge is applicable for paper copy post 3 free copies per customer), list of documents, Photo copies of the documents (property & others) Rs.1000/- + applicable taxes
Repayment instrument swap fee (per swap)
₹ 500/- + applicable taxes (applicable only for branch walk-ins)
Asset valuation and verification fee
1% of loan amount + applicable taxes
Documentation and repayment setup fee
Rs. 2,000/- + applicable taxes
Interest conversion fee
Floating interest rate to floating interest rate: 0.5% of balance Loan Amt. or Rs. 10,000/- whichever is higher + applicable taxes Floating interest rate to a fixed interest rate and vice versa: 1% of balance Loan Amt. or Rs. 10,000/- whichever is higher + applicable taxes
Charges incurred by LTF for initiating action under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002:
- Issue of Loan Recall Notice = ₹ 500/ –
- Issue of Demand Notice = ₹ 1,000/ –
- Issue of Possession Notice = ₹ 2,000/ –
- Applying District Magistrate Order = ₹ 8,000/ –
- Taking Physical possession = ₹ 20,000/ –
Actual cost incurred will be debited for expenses pertaining to Publication of Possession Notice/ Publication Demand Notice/Publication of Sale cum Auction Notice
Loan Cancellation Charges:
₹ 5000/ – + applicable taxes
Foreclosure / Full Prepayment Charges – Home Loan
For Individual / Non-Individual Borrowers –
- Floating Rate – Nil Charge
- Fixed Interest Rate –
  i. Less than 1 year from disbursement – up to 3% on principal outstanding + applicable taxes
  ii.Post 1 year of disbursement – up to 2% on principal outstanding + applicable taxes
Pre-payment Charges – Home Loan:
For Individual / Non-Individual Borrowers –
- Floating Rate – Nil Charge
- Fixed Interest Rate –
  i. Less than 1 year from disbursement – up to 3% on Partial Prepayment amount + applicable taxes
  ii. Post 1 year of disbursement – up to 2% on Partial / Prepayment amount + applicable taxes
Non-compliance fee
1% of principal outstanding + applicable taxes
Field collection service fee
Rs. 500/- per collection + applicable taxes
Legal fees and charges
Up to Rs.50,000/- + applicable taxes
Recovery charges
Up to Rs. 1,00,000/- + applicable taxes
Auction fees
Up to 1% of auction sale amount + applicable taxes

FAQs & Support

View all

How frequently can I repay my home loan ahead of schedule?

There is one part pre-payment option available for each quarter.

Can I get an additional loan in my existing loan account?

You could get additional loan in your existing loan subject to your repayment history and credit norms of the company. Kindly get in touch with our Sales Representative for further details.

Are there any restrictions on transfer of immovable properties?

In terms of Chapter XX C of the Income Tax Act, 1961, the Central Government has the first option to purchase certain immovable properties exceeding certain value and as such transactions covered by this Chapter can be proceeded with only after complying with the requirements prescribed therein.

How will LTF decide my Home Loan eligibility?

LTF assesses a customer's repayment capacity based on various criteria - including income, age, qualifications, number of dependents, spouse's income, assets, liabilities, stability and continuity of occupation, savings history, etc.

How is loan repaid?

All loan repayment are done via equally monthly instalments.

What are the benefits of Home Loan?

Home Loan can help you secure the home you've always wished for. Additionally, it can also allow you to renovate, refurbish or redo your home, exactly the way you want.

What is pre-EMI interest?

In the case of part disbursement of the loan, monthly interest is payable only on the disbursed amount. This interest is called pre-EMI interest (PEMI) and is payable monthly till the final disbursement is made, after which the EMIs would commence.

What is the processing time of loan?

We are committed to giving the best in class service. We will ensure the fastest turnaround time for processing the loan is 6-10 working days ensuring faster TAT. Subject to complete documentation and due diligence.

Can I repay my loan ahead of schedule?

Yes, Home Loan customers, for floating Rate of Interest can repay the Loan ahead of schedule by making lump sum payments or choose our Part Pre-payment Option at charges as per fee mentioned in SFC.(Schedule Fee & Charges).

What is a Home Loan?

A Home Loan is a secured loan offered by banks and financial institutions to help individuals purchase, construct, or renovate a residential property. The property serves as collateral for the loan.

Explore all FAQs

Housing Loan

Choosing L&T Finance for our home loan was seamless. The team was supportive, with transparent documentation, quick responses, and competitive rates. Their efficient process made our home-buying journey smooth, and the L&T Emerald’s location, amenities, and security make it the perfect choice for our family.

Amit Chaturvedi

Mumbai, Maharashtra

Housing Loan

L&T Finance made my homeownership and business growth easier! After taking a home loan with another bank, I needed additional funds to expand my business. L&T offered a quick response, pre-approval, & a streamlined process with minimal paperwork. Plus, I received lower interest rate & maximum funding!

Amol Hirawadekar

Mumbai

Housing Loan

Buying a home in Mumbai was always a dream of mine, and L&T Finance has made this dream come true. They offered competitive interest rate, quick approval with easy documentation. I would highly recommend L&T Finance to anyone looking for a reliable home loan provider.

Yadika Hussain

Mumbai

Housing Loan

I was looking to buy a property and L&T finance Housing Loans stepped in forward to cater to all my demands, the ease of the documentation processes and their commitment to provide disbursement at the earliest. Whatever I asked, the team was there support at every step to get me through.

Mr. Sharad Pandey

Captain, Merchant Navy

Housing Loan

The process of applying L&T Finance Housing loans was a very easy and seamless process. And the credit goes to L&T Finance's entire Housing loan team. They have been extremely helpful & quick response. A very transparent process, the best of the market rates and quick disbursement.

Amit Chaturvedi

Powai, Mumbai

Types of Home Loans

When you plan to buy, build, or improve your home, you have different loan options to choose from. Here are the main types of Home Loans:

Home Purchase Loan :
The most common Home Loan, used to buy a ready-to-move-in house or flat. You repay in fixed monthly EMIs.
Home Construction Loan :
Designed for building a new house on a plot you already own. The loan is disbursed in stages as the construction progresses.
Home Renovation Loan :
Useful for repairs or upgrades, such as renovating your kitchen, bathroom, or other spaces with the help of a Home Decor Loan.
Home Extension Loan :
Helps you add more space to your house, like an additional room or floor.
Plot Loan with Self-Construction :
For buying a residential plot and building your home on it. The loan is given for land purchase and later construction.
Home Equity Loan :
Lets you borrow money against the equity in your completed home. It can be used for different financial needs.
NRI Home Loan :
Special loans for Non-Resident Indians (NRIs) who want to buy property in India.
Commercial Property Loan :
For purchasing commercial spaces such as offices or shops to grow your business.
Joint Home Loan :
Taken with a co-borrower, combining incomes to increase eligibility and loan amount.
Home Loan Balance Transfer :
Transfer your existing Home Loan to another lender to benefit from lower interest rates or better terms. Transfer your existing home loan to another lender with a Home Loan Balance Transfer and enjoy lower interest rates or better terms.
Top-Up Home Loan :
Additional loan amount available on top of your existing Home Loan, without end-use restrictions. You can borrow an additional loan amount on top of your existing loan through a Top-Up Home Loan, without end-use restrictions.

L&T Finance Business Loans give you the advantage of a trusted financial partner that understands business needs and provides solutions that support long-term growth.

Advantages of Availing a Home Loan

Taking a Home Loan offers many benefits when you plan to buy or build your dream home. Some of the key advantages include:

Helps in buying your dream home :
You don't need to wait years to save the full amount, as the loan funds most of the property cost.
High loan amount :
You can get financing up to 80-90% of the property value, depending on eligibility.
Flexible repayment tenure :
Choose a repayment period to suit your budget.
Affordable EMIs :
Spread the cost into monthly instalments, making repayment easier.
Tax benefits :
Save on taxes under Section 80C (principal repayment) and Section 24 (interest payment) of the Income Tax Act.
Balance transfer facility :
Option to transfer your loan to another lender for lower interest rates.
Top-up option :
Additional funds available on your existing Home Loan for renovation, extension, or personal needs.
Builds financial discipline :
Regular EMI payments help you manage money better and improve your credit score.

Tips to Improve Chances of Getting a Home Loan

Getting a Home Loan approved depends on your financial profile. Here are some useful tips to increase your chances:

Maintain a good credit score :
A higher credit score shows that you repay loans on time, making lenders more confident.
Keep stable income proof :
Regular salary slips, bank statements, or audited accounts for self-employed applicants improve eligibility.
Clear existing debts :
Pay off or reduce other loans and credit card dues before applying, as it lowers your debt-to-income ratio.
Choose a realistic loan amount :
Apply for a loan that matches your repayment capacity. Lenders usually finance 80-90% of the property value.
Opt for longer tenure :
A higher tenure reduces EMI, making repayment easier and increasing approval chances.
Show additional income :
Extra income sources like rent, business earnings, or spouse's salary can strengthen your application.
Keep documents ready :
Submitting correct and complete documents avoids delays and increases approval likelihood.