Terms of Use & Sovereign Governance

By accessing, browsing, or utilizing any digital platform, mobile application, micro-site, or API endpoint operated by L&T Finance Limited ("L&T Finance", "Company", "We", "Us"), you unconditionally agree to be bound by these legal terms and statutory covenants.

L&T Finance Limited is a Systemically Important Non-Deposit Taking Non-Banking Financial Company (NBFC-ICC) registered with the Reserve Bank of India (RBI Registration No. N-13.01844). These terms constitute an electronic contract enforceable under the Indian Information Technology Act, 2000.

In accordance with RBI Circular RBI/2023-24/112 DOR.FIN.REC.67/03.10.001/2023-24, every borrower shall be issued a standardized, non-negotiable Key Fact Statement (KFS) prior to loan agreement execution.

• All-Inclusive APR: The KFS clearly states the Annual Percentage Rate (APR) inclusive of interest rate, processing fees, documentation charges, and insurance premiums.
• Cooling-off / Look-up Period: Borrowers are granted an explicit 3-day cooling-off period to exit digital loans without penal charges by repaying principal + proportional APR.
• Zero Hidden Charges: No charges shall be levied on the borrower that are not explicitly disclosed in the KFS.

All loan disbursements and collections occur strictly between the borrower's verified bank account and L&T Finance's bank account without any third-party pool accounts or Lending Service Provider (LSP) pass-through.

• Direct Disbursal: Funds are transferred directly to your bank account without intermediary handling.
• No Auto-Access to Contacts or Media: Our mobile application does NOT access contact lists, device gallery, or personal call logs.
• LSP Transparency: Any official digital lending app partner is registered explicitly with RBI and listed on our official website.

Pursuant to RBI Fair Practice Guidelines, penalty for default or delay in repayment is levied as "Penal Charges" and NOT as compounded penal interest rate added to the loan yield.

Borrowers execute an e-NACH / NACH electronic debit mandate authorizing L&T Finance to deduct scheduled equated monthly installments (EMI) on the designated due date.

• Sufficient Funds Mandate: Borrowers must maintain adequate account balance 24 hours prior to EMI due date.
• Section 25 Payment Systems Act: Dishonor of NACH mandate attracts statutory penalties under Section 25 of the Payment and Settlement Systems Act, 2007.
• Mandate Cancellation: Mandates can be revoked upon full loan foreclosure or balance transfer completion.

Under Credit Information Companies (Regulation) Act, 2005 (CICRA), L&T Finance reports monthly loan performance data to all RBI-authorized Credit Bureaus (TransUnion CIBIL, Experian, Equifax, CRIF HighMark).

Any delinquency exceeding 30, 60, or 90 days will be permanently recorded in your credit history, impacting future creditworthiness across all Indian financial institutions.

As a Data Fiduciary under the Digital Personal Data Protection Act, 2023, L&T Finance processes personal data solely for underwriting, loan servicing, statutory KYC, and credit assessment.

• Right to Withdraw Consent: Borrowers may request data deletion or consent withdrawal for marketing communication at any time via privacy@ltfs.com.
• Consent Manager Support: Integration with RBI-approved Account Aggregator (AA) framework for consent-based financial data fetching.