What Is the Kisan Credit Card Scheme: Benefits for Small and Marginal Farmers
May 21, 2026 | 4 mins read
EMI Calculator
Use the Rural Loan EMI Calculator to estimate your monthly installments easily. Enter the loan amount, tenure, and rural loan interest rate to plan repayments accurately and manage finances better.
Preferred loan amount
₹
₹2,00,000
₹25,00,000
Interest rate (per annum)
%
12.50%
22%
Loan tenure (months)
%
24 months
240 months
Estimated EMI
per month- ₹ 36,690
Interest payable
₹52,41, 690
Eligibility & Documents
Eligibility for Micro Loan Against Property
Check your profile using the Rural Loan Eligibility Calculator before applying. Eligibility depends on income stability, property value, repayment capacity, and applicable rural Loan Interest Rate norms.
Salaried Individuals:
Age:
Between 18 years (at loan onboarding) and 60 years (at loan maturity).
Minimum Income:
Monthly minimum income of ₹7,000.
Residency:
Must be an Indian citizen residing in rural areas.
Loan Amount:
Eligible for loans up to ₹15 lakh.
Co-applicant:
Women co-applicants are encouraged to apply, potentially accessing better interest rates and higher loan eligibility.
Self-Employed Individuals:
Age:
Between 18 years (at loan onboarding) and 70 years (at loan maturity).
Annual Income:
₹1 lakh to ₹15 lakh per annum.
Residency:
Must be an Indian citizen residing in rural areas.
Loan Amount:
Eligible for loans up to ₹15 lakh.
Co-applicant:
Women co-applicants encouraged for better terms.
Non-Financial Individuals:
Age:
Between 18 years (at onboarding) and 85 years (at maturity).
Other criteria aligned with ownership of property and income stability.
Documents Required for Micro LAP
Keep your Rural Loan Documents ready, including KYC proof, income details, bank statements, and property papers to ensure faster processing and approval.
Salaried Individuals:
Duly filled Micro LAP application form.
Identity proof (PAN card mandatory) and address proof (Aadhaar, Voter ID, Passport, Driving License).
Recent income proof including last 2 months salary slips, Form 16, and last 3 months bank statements.
Property ownership papers with clear legal title and encumbrance certificate.
Self-Employed Individuals:
Completed application form.
Identity and address proof for self and business establishment.
Income documentation such as last two years Income Tax Returns (ITR), Profit & Loss Account, Balance Sheet, and 6 months bank statements.
Proof of business address.
Registered property documents with clear legal title.
Applicants may be asked for additional documents based on the specific case and loan amount.
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Financing the Needs Of
Our Micro LAP facility caters to a broad spectrum of rural entrepreneurs and individuals who own property and require accessible finance. This includes:
- Kirana shop owners operating at a small scale
- Tea and food stall proprietors
- Barbershop and salon entrepreneurs
- Scrap dealers managing small recycling operations
- Garage and repair shop owners
- Laundry service owners in rural sectors
- Catering service providers
- Commission agents working in local markets
- Tailors and garment workers
- Auto and taxi drivers with self-owned vehicles
This comprehensive list ensures even the smallest rural business entities can unlock their property’s value for developmental and working capital needs.
Disclaimer
The details provided are for information purposes only and subject to change without prior notice. All loan sanctions are subject to L&T Finance Limited’s eligibility criteria, credit assessment, and RBI regulations. Interest rates, fees, and charges adhere to the latest Reserve Bank of India guidelines and vary based on application specifics. Please read the Key Facts Statement (KFS) carefully before proceeding. L&T Finance Limited does not guarantee loan approval or specific rates. Borrow responsibly.
