PLANET by L&T Finance

The first PEMI is payable by cheque by the 7th of the month in which the disbursement is made and each subsequent PEMI at the 7th of every month through ECS facility till the commencement of EMI.

The total interest payable by you i.e. inclusive of the interest amount would qualify for deduction under Section 24 for Income Tax purpose up to overall limit of ₹ 2,00,000. So you will continue to enjoy the tax benefits. Principal repayments would qualify for deduction from taxable income under Section 80C up to overall limit of ₹ 1,50,000/-. According to the Finance Budget 2014, those availing a Home Loan in the Financial Year 2014 - 2015 are eligible for an additional deduction of ₹ 1 Lakh from the Gross Annual Income in addition to the deductions mentioned above subject to the following conditions:

Top Up loan computation is subject to the customer's current credit profiling, repayment track record and the current valuation of the property. Kindly get in touch with our Sales Representative for further details.

Tenure change is the default option. From customer ease point of view, we understand that Tenure change remains the preferred method, but wherever required we might change EMI, we will intimate you on the necessary change in your EMI.

In many states in India, the Agreement for Sale between the builder and the purchaser is required by law to be registered. You are advised, in your own interest to lodge the Agreement for Sale for registration within four months of the date of the Agreement at the office of the Sub-Registrar appointed by the State Government, under the Indian Registration Act, 1908.

The EMI for a Home Loan is calculated using the formula: EMI=P×r×(1+r)n/(1+r)n−1 where P is the principal loan amount, r is the monthly interest rate, and n is the tenure of the loan in months.

The tenure should be a minimum of 3 years. For Home Loan, the tenure is up to 25 years and for LAP the maximum tenure is upto 15 years depending on customer profile.

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).

There is fixed component of login fees of 4999/- non-refundable (exclusive of service tax) along with processing fees:
Minimum processing fee for Home Loan is 0.25% plus taxes for salaried.
Minimum processing fee for Home Loan is 0.25% plus taxes for self employed.
Though this may vary from case to case basis depending upon customer profile

Age of 23 years and upto 62 years on loan maturity for Salaried, 25 years and upto 70 years on loan maturity for Self employed non professional and professional.