Our Products
Loans
Cards
Insurance
Investment
Stock Market
Electronics Mall
CIBIL Score
Knowledge Centre
Calculators
Our Services
Do not call
En
Learn about the different ways you can make your L&T Finance loan repayment, including automatic payments, website options, and the PLANET app.
Last updated on: Jul 20, 2026
L&T Finance makes loan repayment easy with multiple payment options. While automatic EMI deductions are set up by default, you can also make manual payments if needed. Simply use the PLANET app or the Quick Pay service for hassle-free repayments.
When you take a loan from L&T Finance, an automatic payment mandate is set up for your EMIs. If for any reason this mandate fails or if you prefer to make manual payments, you can use the following options:
Visit the L&T Finance homepage
Navigate to the ‘Payments’ tab and click on ‘Pay Your EMI’
You will be redirected to the PLANET Quick Pay page
Enter your Loan Account Number (LAN) and Mobile Number
Choose the EMI amount you want to pay and proceed with the payment
Complete the payment using your preferred method (Net Banking, Debit/Credit Card, or UPI)
Once the transaction is successful, you will receive a confirmation
Download and log in to the L&T Finance PLANET app
Go to the repayment or EMI section
Enter your loan account number and select the repayment amount
Choose your payment method (Debit/Credit Card, UPI, Net Banking)
Complete the transaction and check for confirmation
To calculate your L&T Finance loan repayment, you need to know the loan amount, interest rate, and the loan tenure. The EMI (Equated Monthly Installment) is the monthly amount you need to pay towards the loan.
The formula to calculate the L&T Finance EMI payment is:
EMI = [P × r × (1 + r)^n] / [(1 + r)^n – 1]
Where:
P = Principal amount
r = Monthly interest rate (Annual Rate ÷ 12)
n = Number of months (loan tenure)
Let’s assume you take a loan of ₹5,00,000 at an annual interest rate of 12% for a period of 5 years (60 months).
P = ₹5,00,000
r = 12% ÷ 12 = 0.01 (monthly interest rate)
n = 60 months
Now, plug the values into the formula:
EMI = [5,00,000 × 0.01 × (1 + 0.01)^60] / [(1 + 0.01)^60 – 1]
Step-by-step calculation
1. (1 + 0.01)^60 = 1.8194
2. EMI = [5,00,000 × 0.01 × 1.8194] / [1.8194 – 1]
3. 5,00,000 × 0.01 × 1.8194 = 9,097
4. 1.8194 – 1 = 0.8194
5. 9,097 / 0.8194 = 11,092
Thus, for a loan of ₹5,00,000 at an annual interest rate of 12% over 5 years, the EMI would be approximately ₹11,092.
You can use an EMI Calculator available online for quick calculations before committing to a loan.
When making a loan repayment with L&T Finance, you should be aware of the applicable fees and charges that may apply under certain conditions.
Here are the details:
| Charges | Details |
|---|---|
Foreclosure Charges |
5% of principal outstanding + applicable taxes |
Prepayment Charges |
Up to 5% of the prepaid amount |
Processing Fee |
Up to 3% of loan amount + GST |
Disclaimer: The interest rates and charges mentioned above are subject to change at the lender’s discretion.
Disclaimer
Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.
Reviewer
Ans: You can check your loan status by logging into the PLANET app or visiting the L&T Finance website and using the loan status tracking feature.
Ans: To foreclose your loan, you need to contact L&T Finance customer support or visit your nearest branch. They will assist you with the necessary documentation and process for early closure of the loan.
Ans: Missing an EMI payment triggers immediate financial and credit implications. An EMI bounce fee is applied, alongside a monthly late payment penalty on the overdue amount. Additionally, the default is reported to credit bureaus, which severely damages your credit score.
Ans: Yes, you can prepay your L&T Finance Personal Loan. However, a prepayment charge of up to 5% of the prepaid amount will be applicable. Ensure you review the charges before making an early payment to avoid surprises.
Ans: You can use a personal loan EMI calculator to easily calculate your EMI amount based on the loan amount, interest rate, and tenure. This tool helps you plan your monthly repayments effectively.
Ans: To pay your EMI online, visit the lender's website, mobile app, or any financial platform. Go to "Loan Repayment", select your lender, and enter your Loan Account Number. Once your due details load, select UPI or Net Banking, enter your secure PIN, and authorise the transaction.
Ans: A NACH mandate is an automated setup authorising your lender to debit EMIs directly from your bank account on your monthly due date. Configured during loan processing using net banking or a debit card, it ensures timely payments. If it fails, you must pay manually to avoid penalties.
Academy 
