How to Check and Download L&T Finance Loan Statement?

What is an L&T Finance Loan Statement?

Before we learn how to check and download your loan statement, let's first understand what it is and why it's important.

An L&T Finance loan statement is a complete document that gives you an overview of your loan account. This includes:

• Loan Details: This section displays details such as your loan type, unique account number, amount borrowed, repayment period, and monthly instalment amount.
• EMI Payments: It shows a history of your monthly instalment payments, including the amount you paid, the date you made the payment, and whether you made the payment on time.
• Outstanding Balance: This tells you the total amount of money you still owe on the loan, along with any interest that has accumulated.
• Interest Breakdown: It provides details about the interest you have paid, as well as the percentage rate that is being charged on your loan.
• Late Payment Penalties: If you were late with any of your payments, the statement will show any penalties that were charged because of the late payments.
• Prepayment Details: If you made any extra payments towards the loan, this information will also be recorded on the statement.

The loan statement is essential for financial planning. It helps you make sure you don't miss any payments and provides you with an accurate summary of your loan account.

Methods to Check and Download L&T Finance Loan Statement

1. Checking and Downloading via L&T Finance Website

L&T Finance has an easy-to-use website for its customers. Here's how to check and download your loan statement online:

Visit the L&T Finance Official Website:

• Go to the official L&T Finance website.

Log In to Your Account:

• Go to the homepage, find the "Login" option, and click it, usually located in the top-right section of the site.
• You will need to enter your login information, such as your loan account number and password.
• To create an account, click on the "Sign Up" option if you haven't done so already.

Navigate to the Loan Account Section:

• Upon logging in, proceed to the "Loan Accounts" section.
• Here, you will see a list of all the loans you have with L&T Finance.

Select the Loan Account:

• Choose the loan from which you'd like to download the statement.
• This will open the dashboard for that loan account where you can see various details, such as the amount you still owe, your monthly instalment payments, and more.

Download the Loan Statement:

• Look for the "Statement" or "Download Statement" option on the loan dashboard.
• Click on it, and you will have options for downloading your loan statement.
• You can usually download the statement as a PDF file, which is easy to read.

Save and Print the Statement:

• Once the statement has been downloaded, ensure its saved to your device for future reference.
• You can also print a paper copy of the statement if you need it.

2. Checking and Downloading via L&T Finance Mobile App

L&T Finance also has a mobile app for both Android and iOS devices. This makes it even easier to check and download your loan statement. Here's how to do it:

Download the L&T Finance Mobile App:

• If you're on an Android device, go to the Google Play Store, or visit the Apple App Store if you're using iOS.
• Search for "L&T Finance" or "L&T Financial Services."
• Download and install the app on your device.

Log In to the App:

• Open the app and log in using your registered loan account information.
• Your loan account number along with the password might be included in this.

Access Loan Account Details:

• After you log in, go to the "Loan Accounts" or "Loan Details" section.
• Here, you will see an overview of your loan account, including the amount you still owe, your payment schedule, and your payment history.

Download the Loan Statement:

• Look for the "Download Statement" or "Statement" option. It can commonly be found in the "Loan Account Details" section.
• Select the time range for the statement and press "Download."
• The statement will be available in PDF format.

Save or Share the Statement:

• After you download the statement, you can save it to your device or share it by email or other ways for easy access and reference.

3. Requesting a Loan Statement via Email or SMS

If you prefer not to use the online methods, you can ask L&T Finance customer service for your loan statement by email or SMS. Here's how to do it:

Contact Customer Service:

• You can call L&T Finance customer support at 1800-419-9090 or email them at customercare@ltfs.com.

Provide Your Loan Details:

• When you contact customer service, make sure to give them your loan account number, your name, and other important information to help them find your loan account.

Receive Your Loan Statement:

• L&T Finance will send your loan statement directly to your registered email.
• It may take a few hours or a few days to receive the email, depending on how many requests they are receiving.
• Once you receive the email, you can download and save the PDF file.

4. Requesting a Physical Copy of the Loan Statement

If you need a paper copy of your loan statement, you can ask L&T Finance for one. The process is similar to requesting the statement by email, but you will ask for a physical copy to be mailed to your address.

Contact Customer Service:

• Call or email L&T Finance customer support and tell them you need a paper copy of your loan statement.

Confirm Your Details:

• Provide both your loan account number and mailing address to make certain the statement is delivered correctly.

Receive the Physical Copy:

• The loan statement will be sent to the address you provided by L&T Finance.
• The statement could take a few days to reach you, depending on your geographical location.

Why is Checking Your Loan Statement Important?

Regularly reviewing your L&T Finance loan statement is crucial for several important reasons:

• Ensure Timely Payments: By regularly checking your loan statement, you can make sure that you don't miss any of your monthly instalment payments. This ensures you avoid additional charges like late fees and penalties.
• Track Loan Progress: Your loan statement shows how much of the original loan amount you have already paid back and how much you still owe. This helps you keep track of your progress in paying off the loan.
• Prevent Errors: Sometimes, there might be mistakes in the calculation of interest or the amount of your monthly instalments. Regularly checking your statement helps you identify these errors early on and take steps to correct them.
• Tax Filing: If you have a home loan with L&T Finance, the interest you pay on the loan may be tax-deductible. By using this, you can reduce the income tax amount you owe. Your loan statement serves as proof of the interest payments you have made, which you will need for tax filing purposes.
• Financial Planning: Reviewing your loan statement helps you plan for making extra payments towards the loan or for paying off the loan more quickly. This can help reduce your interest payments over time.

FAQs about L&T Finance Loan Statement

Disclaimer:This page includes information that has been compiled from many sources and is only offered for informational purposes. Since this type of data might change over time, we cannot guarantee that the information supplied or included within it is accurate. It is anticipated that the user would confirm with the relevant source prior to taking any choices or actions.