PLANET by L&T Finance

The first PEMI (Pre-EMI) is payable by cheque by the 7th of the month in which the disbursement occurs. Subsequent PEMIs are due on every 7th of the month via the ECS facility, continuing until the EMI repayment starts.

Interest payments qualify for deduction under Section 24 up to ₹2 Lakh. Principal repayments qualify under Section 80C up to ₹1.5 Lakh. First-time homebuyers for FY 2014-15 also enjoy an additional ₹1 Lakh deduction subject to conditions.

The top-up loan amount depends on your credit profile, repayment history, and property valuation. Contact your Sales Representative for personalised information.

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.

Yes, in many Indian states, it is mandatory to register the Agreement for Sale within 4 months at the Sub-Registrar’s office under the Indian Registration Act, 1908.

EMI is calculated using the formula: EMI = (P × r × (1 + r)^n) / ((1 + r)^n − 1) where P = principal amount, r = monthly interest rate, and n = number of monthly instalments.

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, floating-rate Home Loan holders may prepay partly or fully without foreclosure charges, subject to terms and conditions. Fixed-rate loans may attract penalties as per the applicable fee schedule.

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

Key eligibility criteria include a minimum age of 23 years (salaried) or 25 years (self-employed), a maximum age of 70 years at loan maturity, stable income, and a satisfactory credit history.