Why Choose L&T Finance for Your Personal Loan?

"Discover the convenience of applying for an L&T personal loan online with L&T Finance. Get quick approvals and enjoy seamless financial support."

5 mins read

Published: 7 September 2023

Updated: 2 May 2024

L&T Personal Loan is one of the most famous financial products launched by the organization to help people who are facing financial challenges. L&T Finance is the NBFC founded in 2008 to provide financial services to the common man. They have a wide range of financial products available for everyone. With the constant advancement in technology, L&T Finance has incorporated many technological innovations to make financial aid a cakewalk for people.

A borrower can directly apply for personal loan from L&T Finance through their portal and get to know the eligibility. After which the borrower shall be apply online for L&T Finance Personal Loan. A borrower will get the soft approval for the L&T Personal Loan instantly on the screen. The process of L&T personal loan apply online is so smooth that you can get the disbursal of personal loan from L&T Finance in no time. This article will help you understand the process of L&T Finance Personal Loan Apply Online and the major documents required for apply personal loan from L&T Finance.

Personal Loan From L&T Finance

A Personal Loan is an unsecured loan that is offered by the lenders based on the borrower's creditworthiness. A borrower with a good credit score above 700 and a stable income is eligible for taking a personal loan. A Personal Loan can act as a helper for many people who are facing financial difficulties in their lives.

Personal Loan from L&T Finance can be availed for various reasons, including debt consolidation, home improvements, medical expenses, education costs, wedding expenses, and unexpected emergencies. These loans provide financial flexibility and a lump sum of money to meet immediate needs or achieve personal goals.

If the borrower has a credit score of more than 700 and has KYC Documents then one can apply online for a personal loan from L&T Finance. L&T Personal Loan amount ranges from 50000 to 7 Lakhs. The Loan can be availed and approved online without any physical documentation. Moreover, your Personal Loan will be disbursed in the account in no time.

Documents required for L&T Personal Loan Apply Online

L&T finance personal loan Apply online with a few documents and get your Personal Loan Approved with a few Clicks. L&T Finance has reduced the documentation for Personal Loan. A borrower can apply for a personal loan and get the quick disbursement online.

1. PAN Card

2. Aadhar Card/ Voter ID

3. Banking Statement for the past three months.

4. Two latest months' salary slips

L&T Personal Loan EMI Calculator

To calculate your L&T Personal Loan Equated Monthly Installment (EMI), you can use online EMI calculators available on the L&T Financial Services website or My Mudra EMI Calculator. Input your loan amount, interest rate, and loan tenure, and the calculator will provide you with the monthly EMI amount, helping you plan your repayments effectively.

The formula to calculate Equated Monthly Installments (EMI) for a loan is as follows:

EMI = [P x R x (1+R)^N] / [(1+R)^N-1]


  • EMI = Equated Monthly Installment

  • P = Principal loan amount

  • R = Monthly interest rate (annual interest rate divided by 12 and expressed as a decimal)

  • N = Loan tenure in months

Example of L&T Personal Loan EMI

Let's calculate the Equated Monthly Installment (EMI) for a loan of INR 100,000 with an 11% annual rate of interest for a tenure of 3 years (36 months).

P (Principal loan amount) = INR 100,000

R (Monthly interest rate) = Annual rate of interest / 12 months = 11% / 12 = 0.00917 (rounded to 4 decimal places)

N (Loan tenure in months) = 3 years x 12 months = 36 months

Now, we'll plug these values into the EMI formula:

EMI = [P x R x (1+R)^N] / [(1+R)^N-1]

EMI = [100,000 x 0.00917 x (1+0.00917)^36] / [(1+0.00917)^36-1]

EMI ≈ [100,000 x 0.00917 x (1.00917)^36] / [(1.00917)^36-1]

EMI ≈ [100,000 x 0.00917 x 1.4185] / 1.6091

EMI ≈ 1,300.77 INR (rounded to two decimal places)

So, the EMI for a loan of INR 100,000 at an 11% annual rate of interest for 3 years is approximately INR 1,300.77.

Process L&T Personal Loan Apply Online

  • Visit the website of My Mudra which is an associated digital partner of L&T Finance.

  • Search for the section of Instant Loan and click on the L&T Finance Personal Loan.

  • Click on the Apply Now Button and start the Process.

  • The form will be displayed fill in the required information and click on Proceed.

  • Your application shall be successfully submitted and you will get the link from L&T Finance to complete the remaining steps.

  • Complete the documentation and get Instant Soft Approval with the Personal Loan Eligibility on Screen.

  • Click on Proceed and Get Quick Disbursal of Personal Loan from L&T Finance.

Charges applicable for L&T Finance Personal Loan

     Charge Type

      Full Details

   Processing Fee

    2% + taxes

  Part- Prepayment charges

  Up to 5 % of the prepaid amount + taxes up to   25%   twice a year.

  Foreclosure Charges

  5% of the principal amount + applicable taxes

 Late Payment Charges (interest)

 3% monthly on the overdue EMI

 Maintenance Charges (annually)


 Repayment Bounce Charges

  Rs.350 (any applicable taxes)

 Legal/ Recovery Charges

  As written in the legal loan form

 Duplicate No Objection Charges

  Rs. 250

 Repayment Swap Charges


 Any Other Charges (SOA/RPS /FC letter)




L&T personal loan apply online and get the fast disbursal of loan. L&T Finance is the one-stop solution for Personal Loan. The NBFC provides quick and hassle-free financial services to the people. My Mudra is an emerging fintech organization that has formed a digital partnership with L&T Finance. Do not make yourself burdened with loans, let your loan become a partner in fulfilling your dreams.

Also read: How to get Personal Loan Online through L&T Finance

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