L&T Finance Personal Loan Interest Rates

You can get an L&T Finance Personal Loan at interest rates starting from 1% per month. Several factors, such as your income, credit score, and repayment history, can influence the interest rate on your loan. Being aware of these rates and associated charges can help you make informed financial decisions.

Here are the details of L&T Finance Personal Loan interest rates and associated charges:

*Disclaimer: The mentioned terms are subject to change at the lender’s discretion.

Below are the other applicable charges for L&T Finance Personal Loans:

*Disclaimer: The mentioned terms are subject to change at the lender’s discretion.

L&T Finance ensures transparency in its charges, enabling you to plan your finances effectively.

Several factors influence the interest rate on your L&T Finance Personal Loan:

Credit Score

A good credit score reflects your financial reliability and discipline. It can significantly improve your chances of securing lower interest rates. Lenders see a high credit score as a sign of reduced risk.

Income Level

Your income level demonstrates your repayment capacity to lenders. Higher earnings often assure lenders, making you eligible for more competitive interest rates. It is an essential factor in determining loan affordability.

Loan Amount

The amount you borrow directly impacts your interest rate. Higher loan amounts may lead to higher rates, while smaller amounts could help you get more favourable terms. Thus, it is vital to choose an amount you can repay comfortably.

Repayment History

A consistent and positive repayment track record builds trust with lenders. It highlights financial discipline and increases the likelihood of better loan terms. Defaults or missed payments, however, can lead to higher interest rates being charged.

Loan Tenure

The length of your repayment tenure can influence the interest rate. Shorter tenures often come with higher rates due to increased lending risk, while longer tenures may come with more manageable rates and EMIs.

It is important to understand how interest rates can influence the EMIs of your personal loan. Let's check an example to understand the entire breakdown of the repayment structure and total payable interest.

Assume you take a loan of ₹3 Lakhs for 4 years at an L&T Finance Personal Loan interest rate of 12% p.a., your monthly instalment would be approximately ₹7,900. The details of how the EMI helps service the loan are provided in the table below:

*Note: These are approximate values and are meant only for illustration. For actual EMI values, reach out to your lender.

Before opting for a personal loan, it is better to explore how the EMI can change according to a change in the tenure, interest rates, etc. You can use the personal loan EMI calculator on Bajaj Markets to determine the loan terms suitable for you.