Name: Rural Vikaas Loan
Brand: L&T Finance
Price: Upto ₹ 45,000 INR
Availability: InStock

Vikaas Loan, an offering for joint liability group of women borrowers for up to ₹ 45,000*. With interest rate of up to 24%*p.a. and repayment period of 24 months, this loan is designed to fit your financial needs. The Vikaas Loan provides an easy application process with fast approvals, helping you access funds quickly. Support your financial goals with the Vikaas Loan, a dependable option for women borrowers in rural areas.

Features & Benefits
EMI Calculator
Documentation & Eligibility
Fees & Charges
Frequently Asked Questions

Joint Liability Group

Loans for joint liability groups of women borrowers

Loan Amount

Avail Rural business loans online starting with up to ₹ 45,000*

Loan Tenure

Vikaas Loan offers a repayment period of 24 month

Interest Rates

Get Vikaas Loans with interest rates of up to 23.5%* p.a.

Collateral Free Loans

Get loans without collateral for easy access to money when you need it

Online Process

Apply online with help from our relationship manager for an easy process

EMI Calculator

Results generated by the calculator(s) are indicative in nature.

Preferred loan amount

₹

₹0

₹45,000

Interest rate (per annum)

18%

23.5%

Loan tenure (months)

1 months

24 months

Estimated EMI

per month

₹ 36,690
Interest payable
₹52,41, 690

Apply Now

Eligibility & Documents

Eligibility

Age Criteria:

20 years - 60 years

Customer Segment:

Women borrowers

Documents

Identity Proof

Address Proof

Utility bills (not older than 2 months) | Aadhaar Card | Driving License | Passport | Voter ID etc

Income Proof

Any Valid income proof

Seamless Loans, Simplified Experience

Download the Planet app for a one stop loan solution with effortless management at your fingertips. Learn More

FAQs & Support

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Who is eligible to apply for the Vikaas Loan?

Women borrowers, aged between 20 and 60 years, who are first time members of joint liability groups in rural areas are eligible for a Vikaas Loan.

How does Vikaas Loan work?

Vikaas Loans offer small amounts of money to groups of women. These loans often don’t require collateral and have an easy application process. They rely on mutual trust and social collateral, with repayment scheduled in small, manageable installments.

What is the minimum and maximum loan amount offered under the Vikaas Loan scheme?

The minimum loan amount is offered under the Vikaas Loan scheme is ₹ 15,000 and the maximum is upto ₹ 45,000.

How is the EMI for Vikaas Loan Calculated?

The EMI for a Vikaas Loan is calculated based on the loan amount, interest rate, and tenure. A standard formula is used to determine the fixed monthly installment.

What are the benefits of Vikaas Loans?

Vikaas Loans provide many benefits, including access to funds for small rural businesses run by women entrepreneurs. They offer quick disbursement, flexible repayment terms, and usually do not require collateral. These loans also help build credit history and promote financial inclusion.

Are there any special interest rate offers for Vikaas Loan?

You can call our customer care representatives to know about any promotional interest rates.

What are the repayment options for Vikaas Loans?

Vikaas Loan repayment options include monthly EMIs. Borrowers can also repay through various modes, such as bank transfers, online payments, or branch.

Can I apply for a Vikaas Loan if I am self-employed?

Yes, self-employed women with a steady income are eligible.

How does Vikaas Loans impact my credit score?

Repaying Vikaas Loans on time can positively impact your credit score by demonstrating financial responsibility and creditworthiness. Conversely, defaulting on repayments can negatively affect your credit score.

Can I apply for a Vikaas Loan if I have a low credit score?

Yes, you can apply for a Vikaas Loan with a low credit score. Loan amount will be subjected to your final assesment.

Explore all FAQs

Testimonials

Rural Loan

L&T Finance made a huge difference for me & my farming business. I, along with 2 of my friends, got a micro loan with a quick & easy application process. The timely payments of my EMIs are manageable & my farming income has increased significantly. I'm truly grateful for L&T Finance's help!

Nirmala Dabi

Ratlam, Madhya Pradesh

Micro LAP

As an assistant professor with over 10 years of experience, I found L&T Finance’s MLAP loan process was quick, digital and required minimal documentation. My EMI is auto-debited, and I can conveniently check my account statement and details through the PLANET app.

Mr. Udhayakumar

Rajagambiram, Tamil Nadu

Micro LAP

I am engaged in farming and a small dairy business. When I explored financing options, the interest rates in the market were too high. With a quick home inspection and property mortgage, I secured a loan at a competitive interest rate. The process was straightforward, and funds were disbursed quickly.

Mr. Palraj

Chennai, Tamil Nadu

Farmer Loan

My friend recommended LTF since they provide tractor loans at a lower interest rate than others, the loan process is simple, no physical documentation is required, payment was deposited the same day and I received the tractor within a week. My agricultural business has really improved thanks to the LTF.

Narayana G

Telangana

Rural Loan

L&T Finance provided swift support for our 20-year-old silk handloom business. Their executive guided us through a seamless process, quickly disbursing the loan after property verification. We're thankful for their efficient and reliable service that helps us meet our daily business needs.

Mrs. Kannaga

Chennai, Tamil Nadu

Farmer Loan

When I decided to buy a tractor, I spoke to the L&T Finance official. After all the documentation, I got approval of my loan with 2-3 days. I didn’t have to go anywhere and yet my loan got sanctioned.

Bherulal Chaudhary

Ratlam, MP

Farmer Loan

The L&T Finance officer came home and did all the application formalities online and instantly got approval for the loan. Our EMI is in accordance with our harvesting cycle. They gave us the best interest rate and fulfilled our financing requirements.

Mr. Balu Hari Pawar

Maharashtra

Housing Loan

I was looking to buy a property and L&T finance Housing Loans stepped in forward to cater to all my demands, the ease of the documentation processes and their commitment to provide disbursement at the earliest. Whatever I asked, the team was there support at every step to get me through.

Mr. Sharad Pandey

Captain, Merchant Navy

Housing Loan

The process of applying L&T Finance Housing loans was a very easy and seamless process. And the credit goes to L&T Finance's entire Housing loan team. They have been extremely helpful & quick response. A very transparent process, the best of the market rates and quick disbursement.

Amit Chaturvedi

Powai, Mumbai

Micro LAP

We called and the L&T Finance representative came to our house. They quickly completed the formalities and gave us the money really fast so we could use it for our needs. Everything was done digitally. I am grateful to L&T Finance.

Mrs. Kanaga

Handloom Service

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Vikaas Loan (Group Loan)