• L&T Financial Services - Micro Loan

    L&T Financial Services came up with the micro loans operations in July 2008. The main target of the service is to offer financial assistance to women in India and help them attain a sustainable livelihood. Thus, they offer them the micro unsecured loans. Eventually, the company has become one of the biggest micro loan providers in India.

    Key Features of the L&T Microfinance

    The key features of the L&T Financial Services Microfinance can be summed up as follows:

    • Avail term loans through Joint Liability Group (JLG)
    • Loan repayment tenure of up to 24 months
    • Loan amount of up to Rs.45,000
    • Processing fee of just 1% of the loan amount
    • Interest rates of just 24% (subject to changes)
    • No requirement of collateral security

    Eligibility Criteria

    The eligibility criteria for the L&T microfinance are as follows:

    1. The applicant should be a women borrower.
    2. The minimum age of the applicant should be at least 20 years.
    3. The applicant should not be more than 60 years old.

    Documents required to apply

    The documents required to apply for L&T Financial Services Microfinance can be listed as follows:

    1) Proof of income of the applicant:

    The income generating capacity of the applicant is considered by the institution before accepting the application for a micro loan.

    2) Other documents:

    The other documents that are required to be provided are the Aadhaar card, MGNREGA card, Voter’s ID card, and/or ration card of the applicant.

    How to apply for a micro loan through L&T Financial Services?

    You can apply for a micro loan through L&T Financial Services by following the steps mentioned below:

    1. Visit the official website of L&T Financial Services
    2. Click on the menu button on the top left corner of the home page.
    3. Click on ‘Our Products’ and the select ‘Micro Loans’ from the list.
    4. You will be redirected to a new webpage. On this page, click on the ‘Apply Now’ button.
    5. After this, you will be required to submit a form wherein you have to fill up certain personal details such as your name, mobile phone number, and email ID.
    6. Followed by the personal details, select the ‘Micro Loans’ option from the ‘Product Category’ from the drop-down box.
    7. From the ‘Subject’ drop-down box, select your preferred option – Call Back or Email
    8. Add comments in the field provided for the same, if required.
    9. Click on the ‘Submit’ button to proceed with the application form.

    How can you get more information on L&T Financial Services Microfinance?

    • Get in touch with L&T Financial Services by calling them on the following number – 1800 209 4747.
    • Alternatively, you can also write to them on the following email ID – customercare@ltfs.com.

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