L&T Home Loan Interest Rates

L&T Home Loan Interest Rates - Updated in July 2022

L&T, India’s largest bank, provides lucrative interest rates for home loans. They start as low as 7.05% p.a. The loan tenure ranges to a maximum 30 years. If you are looking to get a home loan, here’s all you need to know about interest rates charged by L&T on home loans.

*Interest rate is floating and linked to Repo Rate.

*Above table includes Flexipay, NRI home loan, home loans to non-salaried – differential offering, privilege, Shaurya and Apon Ghar.

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What Other Fees & Charges are Applicable?

L&T charges a consolidated processing fee (including Advocate Fee and Valuer Fees) of 0.40% of the loan amount, subject to a minimum charge of Rs 10,000 and maximum of Rs 30,000, plus applicable GST.

Which L&T Home Loan Scheme is Right for You?

L&T Flexipay Home Loan

• The interest rate depends on your credit score
• Younger professionals will get a 20% concession in their home loan eligibility
• Step-up EMI

L&T Regular Home Loan

• Interest rate starting from 6.90%
• Zero charges in case of pre-payments
• Applicants must be of 18 to 70 years
• 0.05% concession for women

L&T Privilege Home Loan

• Interest rates starting from 6.95% p.a. with check-off
• Interest rates starting from 7% p.a. without check-off
• Fully waived processing fee

L&T Tribal Plus

• Especially available for individuals living in hilly regions or tribal areas
• Interest rate is available at 10bps over the final rate
• Maximum repayment tenure: 15 years
• No requirement for land mortgage

L&T Shaurya Home Loan

• Specifically available for the armed forces and defense personnel
• Longer loan tenure and low rate options
• No need for processing fee

L&T Pre-Approved Loan

• The interest rate for salaried male starts from 7% onwards
• The interest rate for salaried female starts from 6.95% onwards
• The interest rate for non-salaried male starts from 7.15% onwards
• The interest rate for non-salaried female starts from 7.10% onwards

L&T Home Loan to Non-Salaried Differential offerings

• The interest rate for salaried male starts from 7.15% onwards
• The interest rate for salaried female starts from 7.10% onwards
• Exclusive scheme for applicants who don't earn a proper monthly salary but have an income
• It is also available for directors, partners, and proprietors

L&T Earnest Money Deposit

• Interest rate of 10.45% p.a.
• The loan plan the booking advance for a plot or house
• Maximum loan tenure: 1 year

L&T Bridge Home Loan

• The interest rate for 1st Year starts from 6.95% onwards
• The interest rate for the 2nd year starts from 6.95% onwards
• Available for individuals for are buying one property while selling another
• Maximum repayment tenure: 2 years

L&T NRI Home Loan

• The interest rate for salaried male starts from 7% onwards
• The interest rate for salaried female starts from 6.95% onwards
• The interest rate for non-salaried male starts from 7.15% onwards
• The interest rate for non-salaried female starts from 7.10% onwards

L&T Corporate Home Loan

• Exclusively available for corporate who want to purchase or construct residential buildings for their employees
• It is available to both private and public limited companies
• 0.5% processing fee ranging from Rs. 50,000 to Rs. 10,00,000

L&T Realty Home Loan

• Ideal for individuals who want to purchase a plot for constructing their own house
• Borrowing loan amount limit: Up to Rs. 15 crore
• Maximum repayment tenure: 10 years

How to Calculate L&T Home Loan EMI?

Take the following steps to calculate your home loan EMI:

Step 1: Visit the official Magicbricks home loan EMI calculator site
Step 2: Enter the amount of loan that you want to borrow from L&T
Step 3: Fill in your preferred maximum loan tenure
Step 4: Enter the correct interest rate
Step 5: Click on the 'Calculate Your EMI' option

L&T Home Loan Eligibility Criteria

To know the L&T home loan eligibility criteria check the following points –

• Type of Resident who are eligible: Indians and NRIs (Non-Resident Indians)
• The age range of the home loan applicants: 21 to 65 years
• Minimum Monthly incomes of primary L&T home loan applicants: Rs. 15000
• Co-applicant minimum monthly income: Rs. 10,000

How to Apply for L&T Home Loan

• Through Magicbricks: Go to the official L&T Home Loan page on Magicbricks. Scroll down to & apply for a home loan from L&T Bank.
• Through L&T Online Portal: Visit the official L&T portal and fill up the loan form. This portal also allows applicants to check their status easily.
• Through an L&T branch office: If you want to avail of the loan directly from L&T then visit your nearest L&T branch.

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