Please Note: L&T Financial Services is not a Paisabazaar partner. Offers would be from partner banks/NBFCs only.
L&T Financial Services (LTFS) is a leading and diversified NBFC that offers a range of financial products and services in the rural, housing and infrastructure-finance sectors. The company provides a range of financial products, such as micro loans, two wheeler finance, housing finance, farm equipment finance, mutual fund, real estate finance, infra finance, etc. In this article we shall discuss regarding the types of business loans offered by L&T Financial Services that include micro loans and farm equipment loans.
L&T Micro Loans Details
| L&T Microfinance – Features | |
| Interest Rate | 24% onwards |
| Nature of loan | Term loans via Joint Liability Group (JLG) |
| Loan Amount | Up to Rs. 45,000 |
| Repayment Tenure | Up to 24 months |
| Collateral | Not required |
| Processing Fee | 1% of the loan amount (fixed) |
Note: The above mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the NBFC and RBI. GST and service tax shall be levied extra on the mentioned charges.
Apply for Business Loan @ low interest rate Apply Now
Eligibility Criteria:
- Age requirement: Minimum 20 years – Maximum 60 years at time of loan maturity
- Offered to women borrowers, only
Documents Required:
- Income Proof, Aadhar Card, Voter’s ID card, Ration card and MGNREGA card
Farm Equipment Finance
| L&T – Farm Equipment Finance | |
| Interest Rate | 10.75% p.a. onwards |
| Nature of loan | Financing on tractors |
| Loan Amount | As per business requirements |
| Repayment Tenure | Up to 6 years |
| Finance Available | For used tractors, as well |
| Customized loans for customers | With different size of land holdings |
Note: The above mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the NBFC and RBI. GST and service tax shall be levied extra on the mentioned charges.
Eligibility Criteria:
- Age requirement: Min. 18 years – 65 years at time of loan maturity
- Income requirement: Enunciated with the size of landholdings and per acre yield
- Any other requirements: KYC documents
Documents Required
- Identity Proof: Aadhar Card, PAN card
- Age Proof: Passport, PAN card, Voter’s ID card, Driving License, Aadhar card
- Last 6 months’ bank statement
- Income Proof: As per submissions done at time of filing ITR
- Address Proof: Address Proof: Passport, and latest bank account statement, latest telephone bill (landline) and electricity bill
Related Post: Know Documents required for Business Loan
Toll-Free Number: 1800-209-4747
FAQs on L&T Loan
Q1. What is the interest rate offered for Micro loans from L&T Finance?
The interest rate offered under Micro loans is 24% onwards.
Q2. Is micro lending offered by the NBFC only for women borrowers?
Yes, micro loans offered by L&T finance are dedicated to women of India.
Q3. Do I need to submit any collateral for taking micro loans from LTFS?
No, there is no requirement of collateral to be submitted.
Know: How to Apply for Collateral-free Business Loans
Q4. What is the repayment period of Micro Lending?
The repayment tenure is up to 24 months.
Q5. What is the interest rate offered for farm equipment loans by LTFS?
The interest rate offered under farm equipment finance is 10.75% p.a. onwards.
Q6. What is the repayment tenure of this loan?
The repayment tenure of this loan is up to 6 years.
Q7. How can I contact L&T Financial Services?
You can contact LTFS by reaching at the below mentioned address:
Corporate Office Address
Brindavan, Plot No 177
Vidyanagari Marg, CST Road,
Kalina Santacruz (E), Mumbai 400 098
Related Product: List of 21 small scale business ideas in India