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| Charge Type -Home Loans /LAP | Details | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Processing Fee | Up to 3% of sanctioned amount + applicable taxes (this is inclusive of Login Fee) | ||||||||||
| Login Fee | Up to ₹ 5000 (inclusive of applicable taxes) | ||||||||||
| Repayment/EMI Bounce Charges |
| ||||||||||
| Penal Charge/Late Payment Charge (LPC) | 2% per month (p.m.) on overdue EMI + applicable taxes *LPC revised from 3% to 2% per month on overdue EMI w.e.f. 4th Dec 2023 *Taxes applicable on LPC w.e.f.1st April 2024 | ||||||||||
| Annual Maintenance charges | NA | ||||||||||
| Duplicate NOC Charges (Charge is applicable for paper copy post 3 free copies per customer) | ₹ 250/- + applicable taxes | ||||||||||
| Repayment swap charges ( per swap) | ₹ 500/- + applicable taxes | ||||||||||
| Charges for documents like Statement of Account/Repayment Schedule /Foreclosure Letter & Welcome Kit | Nil | ||||||||||
| Valuation Charges | As per actuals | ||||||||||
| Documentation Charge | As per actuals | ||||||||||
| Cash pickup charge | Nil | ||||||||||
| Interest Rate Conversion Charge | Up to 0.5% on Balance Loan Amt + applicable taxes (or) Minimum ₹10,000/– whichever is higher | ||||||||||
| List of documents | ₹ 300/- +applicable taxes | ||||||||||
| Providing Photo copies of the documents (property & others) | ₹ 500/- +applicable taxes | ||||||||||
| Charges incurred by LTF for initiating action under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002 | · Issue of Loan Recall Notice = ₹ 500/ – · Issue of Demand Notice = ₹ 1,000/ – · Issue of Possession Notice = ₹ 2,000/ – · Applying District Magistrate Order = ₹ 8,000/ – · Taking Physical possession = ₹ 20,000/ – Actual cost incurred will be debited for expenses pertaining to Publication of Possession Notice/ Publication Demand Notice/Publication of Sale cum Auction Notice. | ||||||||||
| Legal / Recovery Charges (Other than pertaining to SARFAESI) | As per actuals | ||||||||||
| Loan Cancellation Charges | ₹ 5000/- + applicable taxes | ||||||||||
| Foreclosure / Full Prepayment Charges – Home Loan | For Individual / Non – Individual Borrowers – • Floating Rate – Nil Charge • Fixed Interest Rate – • Less than 1 year from disbursem*nt – upto 3% on principal outstanding + applicable taxes • Post 1 year of disbursem*nt - upto 2% on principal outstanding + applicable taxes | ||||||||||
| Pre-payment Charges – Home Loan | For Individual / Non – Individual Borrowers – • Floating Rate – Nil Charge • Fixed Interest Rate – • Less than 1 year from disbursem*nt – up to 3% on Partial Prepayment amount + applicable taxes • Post 1 year of disbursem*nt – upto 2% Partial / Prepayment amount + applicable taxes | ||||||||||
| Switch Charges (Switch from floating interest rate to a fixed interest rate) | Up to 1% on principal outstanding loan amount + applicable taxes (or) minimum ₹10,000/– whichever is higher | ||||||||||
| Non-Compliance Charges | Up to 1% p.a. of principal outstanding loan amount + applicable taxes |
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Home Loan And LAP
Home Loan And LAP
- Disbursem*nts at ₹2,399 Cr in FY22
- Home Loan Approval (login to sanction): 20 minutes against industry average of 2 days
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Frequently Asked Questions
Have more doubts about home loans? Get all your queries answered here.
1. What features does L&T Finance Complete Home Loan offer?
2. What is the digitized process offered by L&T Finance Complete Home Loan?
3. What is the role of a dedicated relationship manager in L&T Finance Complete Home Loan?
4. In case of change of EMI, what is my revised EMI amount
5. How is loan repaid?
6. What is the processing fees?
7. How will LTF decide my Home Loan eligibility?
8. What is repayment tenure?
9. Can I start paying my EMI in case my loan is partly disbursed?
10. What is the tax benefit against my loan?
11. What is the minimum part prepayment amount that I need to pay?
12. Are there any part prepayment charges?
13. Will my rate change in future?
14. Where will I get my provisional/final interest certificate?
15. How does the floating rate change?
16. What is the rate at which I will get a Top Up loan?
17. How much loan can I get as Top Up loan?
18. Can I get an additional loan in my existing loan account?
19. While borrowing a Home Loan what are the questions that need to be clarified specially in the context of fixed and floating loans?
20. Are there any restrictions on transfer of immovable properties?
21. Does the Agreement for Sale have to be registered?
22. Does the Property have to be insured?
23. What security will I have to provide?
24. How frequently can I repay my home loan ahead of schedule?
25. Can I repay my loan ahead of schedule?
26. Do I need co-applicant for my home loans?
27. What are the LTV norms?
28. What is the tenure of a loan?
29. What are the work experience criteria?
30. What is the maximum or minimum loan amount that L&T Finance Housing Finance?
31. What is the age criteria?
32. When do I pay PEMI?
33. What is pre-EMI interest?
34. Will my tenure change or there is a change in the EMI if there is change in ROI?
35. When does repayment start?
36. What are the options for paying EMI?
37. What is the processing time of loan?
38. Who can be a co-applicant?
39. How can I increase my eligibility?
40. What are the eligibility conditions for a Home Loan?
41. What are the different types of Home Loans available from LTF?
42. Can I convert my floating rate loan to fixed rate loan or vice versa?
43. Can home loan tenure be increased?
44. What are the benefits of Home Loan?
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[emailprotected]1800-258-7702
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