L&T Finance Lease Rental Discounting

L&T finance was incorporated in November 1994 as a Non Banking finance Company. It offers a spectrum of financial products in the sphere of agriculture, industry and trade. The framework is such that it remains in sync with the evolving financial dynamics.

At L&T finance, getting Lease Rental Discounting Loan is backed by unmatched quality service and transparency. Favourable interest rates and proper understanding of the requirements helps the users to be updated as to how close they have reached for disbursement of loan. You can get easy approval at LoanStreet.

 
Minimum Threshold For L&T Finance LRD Eligibility
  1. At least 21 years of age.
  2. Salaried/ Self-employed with regular source of income.
  3. Less than 65 years of age.
Documentation Required For Application Of L&T Finance LRD

Generally all lenders follow same guidelines for collecting elementary documents. However there may be little variation with subject to specific requirements. Below listed are the documents that is required to process the loan faster. Self Attested copies of Documents are solicited.

  1. The Signed application form duly filled with photograph.
  2. ID/ Age Proof - PAN Card/ Passport/ Aadhar Card and Residence Proof – Passport/ Utility bills/ Bank Statement
  3. Cheque of Processing Fee.
  4. Registered Lease Rental Agreement
Salaried Individuals
  1. Last 2 years Form 16 or Income Tax Returns
  2. Last 3 months salary slips
  3. Last 6 months bank statement reflecting salary credits
 
Self employed Individual/ Proprietorship
  1. Proof of Business- Shop and Establishment Certificate/Vat Registration Certificate/ Service Tax Certificates
  2. Last 3 years IT tax returns with profit and loss account and balance sheet duly audited by CA
  3. Latest 12 months bank statement- Savings Account and Current Account
  4. Existing Loans’ Sanction letters accompanied with repayment track
  5. Business profile on the letterhead of the company
 
Partnership Firm/ Partnership LLP
  • Age proof of all the partners in the form of PAN Card, Passport or Adhar Card
  • PAN Card of the company
  • Residence proof of all the partners –Utility Bills/ Passport/Bank statement/ Registered rent agreement
  • Proof of Business- Shop and Establishment Certificate/Vat Registration Certificate/ Service Tax Certificate
  • Latest 3 years Income Tax returns with profit and loss and balance sheet duly audited by CA.
  • Latest 12 months bank statement of the Company and of the Partners’ Savings Bank Account
  • Partnership deed
  • Existing Loans’ Sanction letters accompanied with repayment track
  • Business profile on the letterhead of the company
 
Private Limited / Limited Company
  • Application form duly filled with photographs of directors.
  • Age Proof of Directors- PAN Card, Aadhar Card, passport
  • Residence Proof of Directors- Utility Bills/ Passport/Bank statement/ Registered rent agreement
  • PAN Card of Company
  • Education Qualification- A professional qualification certificate in case of Doctors/CA/Architects
  • Proof of Business- Shop and Establishment Certificate/Vat Registration Certificate/ Service Tax Certificate
  • MOA, AOA, List Of Directors, Share Holding Pattern of the Company
  • Last 3 years IT returns with Profit and Loss account and balance sheet duly audited by CA.
  • Latest 12 months bank statement of Company of all current accounts and the same for Director’s Savings Bank Account
  • Existing Loans’ sanction letter with repayment track of company and Individual Directors
  • Business Profile on the Letter Head of the Company
 
Property Documents
  • Occupancy Certificate
  • Approved Plan of building
  • Share certificate copy
  • Chain of deeds in case of resale property
  • Property Card
  • Nil Encumbrance Certificate- EC ( if applicable)
  • Current Sale agreement/ Draft Agreement
 
L&T Finance LRD Interest Rate
Rate of Interest 12.50%
Loan Tenure 5 year to 15 years
Processing Fees 1% of the loan amount + Service tax as applicable
Foreclosure Charges 4% of the outstanding amount + applicable Taxes
Unique Features Of L&T LRD
  • The loan can be taken either from commercial or residential property.
  • Maximum loan tenure is 15 years
  • Minimum loan amount is Rs 3 lakhs
  • The maximum loan amount that can be availed by the applicant is Rs 7.5 Crore