Looking to finance your needs with a flexible personal loan? L&T Finance offers personal loans up to ₹30 lakhs exclusively for salaried individuals. Here’s a quick and clear breakdown of everything you need to know:
👥 Who Can Apply?
- ✅ Only salaried individuals (no NRIs or self-employed).
- 📍 Must live in L&T Finance-approved locations (based on PIN code).
- 📊 CIBIL Score should be 700+ or “New to Credit” (NTC).
- 🧑💼 Age:
- Minimum: 21 years
- Maximum: 60 years (at the end of loan term)
💰 Salary Requirements Based on Tier & Age
| Location Tier | Age ≤ 30 yrs | Age > 30 yrs |
|---|---|---|
| Metro Cities | ₹35,000 | ₹40,000 |
| Tier 1 | ₹25,000 (Cat A/B) / ₹30,000 (C/D/E) | ₹35,000 |
| Tier 2 | ₹25,000 | ₹30,000 |
| Tier 3+ | ₹20,000 | ₹25,000 |
Note: Company category plays a key role in Tier 1 eligibility.
🏦 Loan Details
- 📉 Loan Amount:
- Minimum: ₹1 lakh
- Maximum: Up to ₹30 lakhs (depending on your credit and employer category)
- ₹10L for Super CAT & CAT A NTC customers
- ₹5L for other NTC categories
- 📆 Tenure: 1 to 6 years (12–72 months)
- Max 48 months if salary ≤ ₹50,000
- 💡 FDIR (Fixed Debt-to-Income Ratio) – Max EMI allowed as % of your salary:
- Super CAT, CAT A/B: 60–80%
- CAT C: 55–75%
- CAT D/E: 50–70%
🏢 Company Categories Explained
L&T categorizes employers for risk assessment:
- ⭐ Super CAT: Top-rated companies
- ✅ CAT A/B: Strong and stable companies
- ⚠️ CAT C/D/E: Lower preference companies (E = others)
The better your employer’s category, the higher your chances of approval and loan limit.
🏫 Special Note for Government Employees
- ✅ Teachers must have at least ₹75,000/month salary
- ❌ Grade C, D, and 4 employees are not eligible
- 📄 Salary Slip is mandatory
🧾 Documents You Need
- 🆔 Aadhaar & PAN – For KYC
- 📄 6 Months Bank Statement – Upload digitally
- 🏠 Current Address Proof
- 📂 If you have extra income, such as:
- Rental income – Provide rent agreement + credited bank statement
- Consultancy income – Provide Form 16A or 26AS (not older than 15 months)
🔄 Balance Transfer (BT) Facility
Want to reduce your EMI burden by transferring your existing loan?
- ✅ Active personal loan over ₹1 lakh
- 📅 6–12 EMIs must be paid (depends on your company category)
- 📊 Only loans from approved lenders are eligible
- 📁 Required Docs:
- Loan Statement of Account
- Repayment Schedule
- Repayment Bank Statement (6 months)
📌 Final Thoughts
L&T Finance personal loan is a great fit for salaried employees with a stable income and clean repayment record. With loan amounts up to ₹30 lakhs, flexible tenures, and high FDIR limits for good companies, it’s ideal for big purchases, refinancing, or emergencies.
💬 Need help applying? Drop a message or contact! Click Here
