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L&T Finance offers financing of up to ₹75 Lakhs to support your business growth. It comes with quick approvals, flexible tenure of up to 60 months, and competitive interest rates starting from 15.5% p.a..
Here are the key details of L&T Finance Business Loan interest rates to help you make an informed borrowing decision:
Minimum Interest Rate |
15.5% p.a. |
Maximum Interest Rate |
20% p.a. |
Disclaimer: The rates and charges mentioned above are subject to change at the lender’s discretion.
The following are some other charges the NBFC levies:
Processing Fees |
Up to 2% of the sanctioned amount + GST |
Foreclosure Charges (Within 6 months) |
10% of the outstanding amount + GST |
Foreclosure Charges (After 6 months) |
5% of the outstanding amount + GST |
Disclaimer: The rates and charges mentioned above are subject to change at the lender’s discretion.
For any business loan, the EMI amount depends on the loan amount, applicable interest rate, and the repayment tenure.
Consider that you have borrowed ₹10 Lakhs from L&T Finance. Based on a 15.50% p.a., here’s how your EMI will vary with different tenures:
| Loan Tenure | EMI Amount | Total Interest Payment | Total Repayment |
|---|---|---|---|
12 months |
₹90,494 |
₹85,932 |
₹10,85,932 |
24 months |
₹48,724 |
₹1,69,389 |
₹11,69,389 |
36 months |
₹34,910 |
₹2,56,784 |
₹12,56,784 |
48 months |
₹28,084 |
₹3,48,073 |
₹13,48,073 |
60 months |
₹24,053 |
₹4,43,191 |
₹14,43,191 |
The final interest rate offered under the L&T Finance Business Loan depends on multiple factors that help assess your creditworthiness and the associated lending risks. These factors are:
This numerical assessment of a business’s creditworthiness plays a key role in determining the applicable interest rate.
A strong repayment history can improve the chances of receiving more favourable loan terms.
Enterprises with consistent financial performance and growth potential are typically eligible for lower interest rates.
Reviewer
The L&T Finance Business Loan interest rate ranges from 15.5% p.a. to 20% p.a., depending on your business profile, financials, and loan eligibility.
To be eligible for an L&T Finance Business Loan, you must meet the following criteria:
Age: 24 years to 65 years
Business’ Vintage: Operational for at least 3 years
Profession: The applicant should be a self-employed non-professional like a trader, manufacturer, or service provider
If you foreclose your L&T Finance Business Loan within six months of disbursement, a charge of 10% of the outstanding amount plus applicable GST will apply. After six months, the charge is reduced to 5% of the outstanding amount plus GST.
Yes, your credit history significantly influences the interest rate offered on the L&T Finance Business Loan. A strong repayment record may help you secure a more competitive rate.
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