Home Loan EMI: LIC Housing Finance has offered a good scheme on home loan for the elderly of the country. Under this scheme, the elderly will be completely exempted from filling the 6 EMIs of the home loan, that is, the burden of 6 EMIs will be reduced during the entire duration of the home loan.
Home Loan EMI: LIC Housing Finance has offered a good scheme on home loan for the elderly of the country. Under this scheme, the elderly will be completely exempted from filling the 6 EMIs of the home loan, that is, the burden of 6 EMIs will be reduced during the entire duration of the home loan. All central and state government employees and pensioners will come under the purview of this scheme started for the special elderly.
LIC Housing Finance’s new home loan scheme
The scheme started by non banking finance company LIC Housing Finance is named Griha Varishtha. This scheme is specially for those employees and pensioners who are covered under the Defined Benefit Pension Scheme. However, the benefit of rebate on EMI has also been given earlier.
Such discounts will be available on 6 EMIs
In a statement issued by LIC Housing Finance, the EMI exemption will apply to the 37th, 38th, 73rd, 74th, 121st and 122nd EMIs. Which will be adjusted to the outstanding principal. According to the statement issued by LIC Housing Finance, ‘Under the Home Senior Scheme, the age of the customer can be up to 65 years at the time of applying for this scheme, the duration of this loan will be up to the age of 80 years or maximum period of 30 years. It will be a year, whichever comes first. ‘
These elders will benefit
Under this scheme of LIC Housing Finance, the customer can use the loan to buy a house, get the house constructed or get the house repaired or to expand the existing property. Government insurance companies, central and state government employees and pensioners will come under the purview of this scheme. Apart from this, employees and pensioners of railways, defense and banks will also come who are covered under the defined benefit pension scheme.
