L&T Finance (LTF) is a fully owned subsidiary of L&T Finance Holdings Limited. It was incorporated as a non banking finance company (NBFC) in November 1994. This organization is part of Larsen & Toubro’s commitment towards offering sustainable and quality in India’s ever expanding financial services sector. As part of its business policy, income generating assets or activities are funded while keeping a firm focus on returns.
There is a wide spectrum of L&T Finance financial services which cover segments like industry, trade and agriculture. Focus segments include construction equipment, commercial vehicles and tractors, corporate products and the like. The organization shares core values with its parent entity with emphasis on integrity, customer satisfaction and fulfillment, transparency in all business dealings and a vision towards being a dominant market player in its segment. It is headquartered in Mumbai and is promoted by Larsen & Toubro Limited, one of India’s conglomerates with interests in engineering, construction, electrical and electronics manufacturing and services, financial services and information technology. L&T Finance Holdings has a presence in 23 Indian states. All L&T Finance services have been classified under four operational groups, namely Infrastructure Finance, Retail Finance, Investment Management and Corporate Finance. The company has already served more than 1 million customers over the years.
L&T Finance Loan against Property
Loan against property is provided for business expansion, weddings, higher education purposes and going abroad. There are reasonable L&T Finance interest rates offered to customers here along with maximum tenures of 15 years. Funding is available from INR 10 lakhs to INR 10 crores. Loans can be obtained against self-occupied, vacant and rented residential property while processing takes place swiftly.
There are Step Up and Step Down repayment based offerings along with income based offerings like Gross Receipt Product, Gross Margin Product and other options. Repayment options are flexible with part prepayment schemes and tranche based EMIs.
L&T Finance Home Loans
Home loans are offered for construction of residential houses within approved location limits as per approvals of registered engineers and also for purchasing homes in both new residential and resale categories. The property can be ready to move in or under construction. Loans are also provided for take overs from approved institutions and this will allow borrowers to transfer existing home loans to L&T Finance with top-up loan options. Loan refinancing is also available along with the composite loan scheme which is applicable for purchasing plots and constructing residential houses thereon.
A maximum of 20 years can be approved as the loan tenure while loan amounts range between INR 3 lakhs and INR 10 crores. Home loans are generally given up to 80% of the property value though this can go up to 90% in some cases. There are attractive L&T Finance lending rates offered to home loan borrowers along with flexible repayment options. Income and repayment based product offerings can also be availed here much like loans against properties.
L&T Finance Home Improvement Loan
Home Improvement Loans are provided for the following purposes:
Maximum loan tenures are 20 years in such cases while loan amounts range between INR 5 and 25 lakhs on an average. Loans are provided up to 80% of the total costs required while this can go up to 90% in some cases.
L&T Finance Home Extension Loans
In case of Home Extension Loans, maximum tenures are 20 years while loan amounts range between INR 5 lakhs and INR 1 crore. Loans are given up to 80% of total costs though this can increase to 90% in some cases. There are several flexible repayment options in addition to personalized customer service offerings.
L&T Finance Business Loans
There is a wide range of business loans available at L&T Finance. This includes working capital finance, leases, debt through NCD and CP subscriptions, term loans, IPO Financing, ESOP Financing and Loans against Securities.