A friend of mine had recently opted for a personal loan from L&T Finance. He told me that their interest rates were pretty low, and he was able to get a personal loan fairly easily. Since I also was in need of some funds, I decided to check them out and learn about the L&T Finance personal loan interest rate. I came to know that the interest rates start from 11.00% and can vary depending on the CIBIL score.
What is the L&T Personal Loan Interest Rate?
As I mentioned above, the personal interest rate of L&T financing is 11.00%. Besides that, I also learned a few more information about the loan, which I have added below.
Particulars | Details |
Loan Tenure | 12 to 72 months |
Loan Amount | Upto Rs. 30 Lakhs |
Interest Rate | Starting from 11.00% |
Processing Fee | Up to 3% of loan amount and taxes |
Foreclosure Charges | 5% of principal outstanding and taxes |
Age Limit | 23 to 58 years |
And that’s it. This is what I had learned about the L and T finance personal loan interest rate. After this, I followed the due process and availed the loan.
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Wondering what L&T Finance personal loan interest rate is? L&T Finance offers personal loans in India with interest rates typically ranging from 11.99% to 24% per annum. Moreover, this depends on several factors that I have mentioned below.
What is L&T Personal Loan Interest Rate?
The specific interest rate you receive depends on various factors, such as your credit score, loan amount, repayment tenure, income stability, and overall financial profile.
A higher credit score (usually above 750) indicates good creditworthiness and may help you secure a lower interest rate. Conversely, a lower credit score might result in a higher interest rate.
The loan amount and the duration over which you plan to repay the loan also impact the interest rate. Typically, shorter tenures come with slightly lower rates, while longer tenures might attract higher rates.
Your income level and employment stability play a significant role. Salaried individuals with a stable job and regular income are likely to get better rates compared to those with irregular income or higher-risk job profiles.
Existing customers or those with a strong financial history with L&T Finance might be eligible for preferential rates.
Interest rates are also influenced by broader market conditions, including RBI guidelines and the overall economic environment.
Apart from the interest rate, be aware of processing fees, prepayment charges, and other fees that may apply. These additional costs can affect the overall cost of the loan. This is L and T F
inance personal loan interest rate.
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Authors Of The Question
What is L and T Finance Personal Loan Interest Rate?
saurabh
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2 Answers
5 months
2024-08-16T11:58:18+00:00 2024-08-16T15:18:46+00:00Comment
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