A "low interest" loan shouldn't mean you have very little interest in paying it back!
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  • Customer Reviews

    • L&T Housing Home Loan
      "Process is good"
      0.5 5.0/5 "Blown Away!"
      I work for L&T and I had taken a home loan earlier from L&T finance Limited. The process was smooth and without much of formalities and I got the loan within ten days. They need to improve on the interest rate and charges. When the rates drop, the housing board companies to not reduce the same.
      Was this review helpful? 0
      , delhi
      Reviewed on Aug 09, 2017
    • L&T Housing Home Loan
      "Satisfactory service"
      0.5 5.0/5 "Blown Away!"
      I got personal loan with L& T finance company around past 2 years ago and I have also closed it as well. I am happy with the loan amount with L& T finance. But I have faced some problems with the ECS mode payments, after that I have done cash payment in person with L& T finance company. They gave me the justification for the error so overall, it was a satisfactory service.
      Was this review helpful? 1
      , mumbai
      Reviewed on May 03, 2017
    • L&T Housing Home Loan
      "Excellent"
      0.5 4.0/5 "Great!"
      Services and the interest rate are the major aspects with the L&T finance, which made me to transfer the loan from there. Rate of interest was huge with the L&T finance and I got the loan amount from them in two months of time.
      Was this review helpful? 1
      , bangalore
      Reviewed on Apr 10, 2017
    • L&T Housing Home Loan
      "Should give proactive response and clear documentatio update"
      0.5 3.0/5 "Satisfactory"
      Last year I had taken the housing loan in L & T Finance limited, they offered the best interest of 9.6% but I am not happy with their process. They had made a lot of follow ups to approve my home loan and they were not clear in documentation part, they were asking for a lot of documents from my end, but it was very inconvenient for me to arrange those documents immediately, finally they disbursed the amount in two shots as per project, recently I switch over to PNB housing there I got least interest compared when compared with L & T finance.
      Was this review helpful? 0
      , pune
      Reviewed on Mar 15, 2017
    • L&T Housing Home Loan
      "Easy process "
      0.5 5.0/5 "Blown Away!"
      I am a happy home loan seeker, as I was able to the loan with ease from LNT housing finance. The turn around time taken to process my loan was hardly a weekâ??s time. They had provided a loan amount of 17 lakhs. I got the property documents on time. In a nutshell, I am very much happy with their service.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Oct 01, 2016
    • L&T Housing Home Loan
      "Not proactive enough "
      0.5 3.0/5 "Satisfactory"
      With L&T Finance, I have availed a home loan in 2012 for a rate of interest of 11% on floating basis for a tenure of 20 years. I had chosen them when my friends recommended and did not consider checking or comparing with other bank offers at the time. They had waived my processing fee off and it was a resale property so the documentation had to be done fresh. Therefore it took 45 days. They should be proactive and update the customer constantly.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 21, 2016
    • L&T Housing Home Loan
      "Delayed disbursal!"
      0.5 3.0/5 "Satisfactory"
      Initially the executive who interacted with me explained the process clearly. Though I applied for the loan in the month of December, L&T executives disbursed the home loan in the month of February. As it took more than 2 month, I would suggest them to speed up the process in providing home loans.
      Was this review helpful? 0
      , mumbai
      Reviewed on Mar 03, 2016
    • L&T Housing Home Loan
      "Happy in taking loan.."
      0.5 5.0/5 "Blown Away!"
      L&T housing finance has delivered the home loan so very happy about that. If I say about the rate, I am happy as they gave 9.65%. I felt the service charge that collected was more for the home loan where I paid around five thousand but I have not compared with others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 26, 2016
    • L&T Housing Home Loan
      "Good "
      0.5 4.0/5 "Great!"
      I have closed my housing loan with the L&T finance because of the rate of interest is too high which is around 11.25%. They have asked around 1% as the processing charges to transfer the loan. The services are very good like they used to do all things on time.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 12, 2015
    • L&T Housing Home Loan
      "Excellent!!!"
      0.5 5.0/5 "Blown Away!"
      From L&T I availed my home loan . Till now they process was very fast and quick. The executives are very coperative. The cordination was good over the phone and the email. Documentation part was minimum. Interest rate and processing fee still expecting for something lower. I am happy with the response of their executive , they were very humble.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 28, 2015
    • L&T Housing Home Loan
      "Much appreciable"
      0.5 5.0/5 "Blown Away!"
      I am really happy with the service offered by LNT Housing finance. They are basically very friendly they were providing all the information to the customer. I would certainly recommend this to others mainly because of their Representatives. As they have gone out of their way to help me. Its mainly because of them I had got some discounts on the interest rate they have spoken with their Manager and they have done the needful for
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 18, 2015
    • L&T Housing Home Loan
      "Average "
      0.5 4.0/5 "Great!"
      The loan process was really smooth with L&T while I got the home loan and they processed the sanction letter within 3days of the application been submitted.The customer service provided was really good and I got immediate call with response from them.They offered a interest rate of 10% as floating rate for the loan.
      Was this review helpful? 0
      , pune
      Reviewed on Jul 10, 2015
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    L&T Housing Finance Home Loan is Rated as "Excellent!" by 12 Users

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    Promised Interest Rate

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    Home Loan BYTES FROM OUR KITCHEN
    rated 4.5/5.0 by 12 users

    l&t Housing Finance:

    Larsen & Toubro Limited is a very renowned name in India. The company is involved in a number of specialist spheres of operation, including Construction, Engineering, Information Technology, Financial Services, etc. For this versatile company, home loan was a natural next step, and a chance to step into one of the most competitive operative spheres in India. L&T Housing Finance offers three types of loans that are collectively marked under the single umbrella- 1) Home Loans, 2) Home Improvement Loans, and 3) Home Extension Loans. Comprehensive, highly customer centric and backed by superior customer support, L&T Housing Finance is definitely a major contender when it comes to your choice partner who will help you acquire your dream home.

    Home Loans from L&T Finance:

    As marked above, L&T Finance offers three versions of its popular home loan product, namely-

    • Home Loans
    • Home Improvement Loans
    • Home Extension Loans

    Benefits of the Above Home Loans from L&T Finance:

    • Avail the services of a dedicated Relationship Manager who can guide you better through the world of home loans, the ensuing expenditures and related considerations.
    • Fully transparent process with very easy documentation.
    • Competitive Interest Rates and 0% Pre-Payment Charges.
    • Instant online approval with the friendly ‘e-approval form’.
    • Quick and interactive loan processing with fast turnaround times.
    • Free and safe document storage facility with very easy retrieval procedures.
    • Convenient repayment options, including Electronic Clearing System (ECS).
    • 24x7, personalized customer support initiative.

    Herein, let’s examine each of these components, individually-

    1. Home Loans

      The traditional home loan, this can be utilized for- construction of a new house, purchase of a new house/flat/apartment, transfer of existing home loan from an approved lender onto L&T Finance, as a composite loan wherein land will be purchased and construction of a residential house within a set duration and finally, to refinance an existing home loan.

    2. Features of L&T Finance Home Loans
      • Loan amounts range from Rs.3 lakhs to Rs.10 crores.
      • Loan tenure ranges upto 20 years.
      • Upto 80-90% of the property value funded by the home loan.
      • Very attractive rate of interest with no pre-payment penalties.
      • Flexible repayment options including Part Payment and Tranche Based EMI scheme.
      • Loan categorization into, Income Based Product Offering and Repayment Based Product Offering (Step Up/ Step Down).
    3. Home Improvement Loans

      As the name specifies, an L&T Finance Home Improvement Loan will help you improve the condition, aesthetics and functionality of your cherished home. Broadly speaking, this includes- Internal and external home repairs, Roofing, Waterproofing, Flooring, Electrical work, Painting, etc.

    4. Features of L&T Finance Home Improvement Loans
      • Loan amounts range from Rs.5 lakhs to Rs.25 lakhs.
      • Loan tenure ranges upto 20 years.
      • Upto 80-90% of the property value funded by the home loan.
      • The borrower has the flexibility to pay interest only through the construction period.
    5. Home Extension Loans

      In these modern times, plans change instantly and new situations demand newer solutions. Are you the patriarch of an expanding family? Looking to add new dimensions to your same old home? Or, trying to build yourself a home office? The aptly named Home Extension Loans, provides you timely funds to expand your existing residential space.

    Features of L&T Finance Home Improvement Loans:

    • Loan amounts range from Rs.5 lakhs to Rs.100 lakhs.
    • Loan tenure ranges upto 20 years.
    • Upto 80-90% of the property value funded by the home loan.
    • Very attractive rate of interest with no pre-payment penalties.
    • The borrower has the flexibility to pay interest only through the construction period.

    Eligibility and Documentation:

    The following eligibility criteria must be satisfied, followed by the submission of all the marked documents to avail any of the three L&T Finance Home Loans.

    • The applicant must be an Indian national.
    • He/She must not be younger than 22 years and older than 65 years at loan maturity.
    • The applicant can be salaried or self-employed.
    • The actual disbursed loan amount depends on certain factors- Applicant’s income, age, repaying capacity, assets, liability cost of the proposed property, etc.
    • The applicant’s eligibility is boosted when an additional source of income is added, including but not limited to co-applicant’s income.
    • The following documents must be submitted at the time of application-
      • Completed application form with self-attested photograph.
      • Proof of Age (Any document issued by the Government that mentions the applicant’s age).
      • Address Proof (Any document issued by the Government that mentions the applicant’s current address).
      • Photo ID Proof (Any document issued by the Government that display’s the applicant’s photograph).
      • Job Confirmation Proof (Applies to applicants who are younger than 23 years).
      • Proof of Income (Previous month’s salary slip/ last month’s salary certificate with indicated deductions/ Form 16/ ITR).
      • Bank Statement (Pertaining to last 6 months- ideally from the salary or primary account).
      • Cheque, covering the login fee.

    L&T Home Loans Interest Rate:

    Currently, any of the L&T Finance Home Loan products are available at a starting interest rate of just 9.90%. This competitive L&T Housing Finance interest rate puts the offering in a select group of home loan products that offer convenience, simplicity, a comprehensive approach and affordability in a single package.

    L&T Finance Home Loan FAQ

    1. How long does it take from loan application to the disbursal of the monies?

      L&T Finance has been cited for its quick turnaround times. Expect a final confirmation for your applied home loan in 3-7 working days.

    2. Who must I select as a co-applicant when signing up for this loan?

      A co-applicant is someone who shares in the responsibility, liability and financial impetus associated with a typical home loan. The co-applicant need not necessarily be a co-owner, and is usually brought into the picture when the main applicant is falling just short in terms of the eligibility, or wishes to share in the responsibilities associated with the acquisition of a home loan. Ideally, the co-applicant must be someone who you are intimately connected with and are comfortable with- spouse, sibling, son/daughter or parents.

    3. What is the meaning of a ‘Composite Loan Scheme’?

      In simple terms, a ‘composite loan’ takes care of the purchase of a property and the subsequent construction of a residential home in a specified time span.

    4. What is the applicable home loan processing fee?

      Currently, the loan processing fee stands at 2% of the disbursed amount, plus service tax.

    5. What are the applicable terms for the ‘Tranche Based EMI’ process?
      • Prospective buyers who wish to avail a loan for constructing a home, or purchasing a house that is under construction, need to pay regular interest till the property is ready for occupation.
      • The construction period is restricted to 18 months. Post this, tranche based EMI will be stopped or continued upon the discretion of the bank.
      • Upon final disbursal, the EMI cycle will start and must be honored by the borrower in line with the conditions set in the Offer Letter/ Sanction Letter.

    News About L&T Housing Finance Home Loan

    • L&T Finance to go Big on Home Loans

      After L&T Finance failed to get an universal bank license last year, it has set up an ambitious growth plan for home loans and retail lending. Among the 25 financial entities that applied for a full-fledged bank license, only Bandhan and IDFC won the licenses. Now, L&T Finance is concentrating on growing big as a NBFC Company (non-banking finance company). Among the six core businesses that contribute to L&T Finance's plan of action include home loans, micro finance, two wheeler loans, SME Loans and loans for tractors. In Housing loans, the company has now crossed Rs.4000 crore in the loan book and is now targeting to grow by Rs.6000 crore by the end of this year. The company is also shifting the focus on having the perfect mix of home loans, construction financing and loans against property apart from also having a right mix of salaried and self-employed customers. L&T Finance is also looking to set up more branches and expand its presence geographically.

      29th September 2015

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