Introduction
In the era of financial distress, loans have become a necessity. For any kind of major scale finance, be it setting up a small business model on an individual level, or expanding your existent business far and wide, loans are an effective way to get rid of monetary instability for a given duration.
Micro loan is a model of loan management wherein small amounts of money is given to individuals or groups for a small time period. L&T Finance is one of the leading NBFCs in India that aims in providing micro loans to Indian citizens.
Keep reading this article in order to diversify your understanding of micro loans.
What is My flow ltferp?
Also known, is a micro loan category of L&T Finance. Women from rural areas are the target customers of this product. Aims at providing micro loans to women who dream of building their own business and achieve financial independence in life.
Women of rural areas can avail loans between 30000 to 110000 rupees, without any security. They also enjoy a good time period for repayment of the loan.
In a plethora of micro loan providers, L&T Finance stands out as a well-reputed brand name with being a trusted source of financial assistance. Besides, other loan providers fail to provide collateral-free loans and charge higher interest rates, thus making the go to option for most entrepreneurs.
What is ltferp?
Ltferp stands for L&T Finance, (ltfs merc) a leading loan assistance provider in India. It was founded in 2008. It is known to provide loans to almost 5 lakh Indian citizens every year for infrastructure projects. There are usually two ways for borrowing a loan: the online method through the official website, or the offline method by visiting the local branch. Though both methods ensure secure transactions, the online method is usually recommended because of its feasibility and time-effectiveness. Ltferp also offers a wide variety of loans, such as Home Loans, Farm Equipment Finance, and Consumer Loan.
Ltferp Access Management System
Ltferp has launched a web portal which lets users who have borrowed money, manage their loans with ease. Through this portal, users can log into their accounts with respective credentials and access all the necessary information.
A set of guidelines, called the ‘Minimum Information for Loan Application of Infrastructure Projects’ has been approved by the company to ensure proper management or user data and enhance the documentation process.
The web portal allows the users to manage their EMIs, check due dates of payments, check transaction history and download the necessary loan-related documents. They also can conveniently make online payments through the portal. This gives a much more hassle-free experience to the borrower than actually visiting the L&T Finance offices or making phone calls for availing their loan money. All the information regarding the loan approval or repayment can be accessed anytime, anywhere.